DIRECTV 2011 Annual Report Download - page 128
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2009
Parent Guarantor Non-Guarantor DIRECTV
Guarantor Co-Issuers Subsidiaries Subsidiaries Eliminations Consolidated
(Dollars in Millions)
Revenues ......................................................... $ — $ 332 $18,671 $2,907 $ (345) $21,565
Operating costs and expenses
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other ..................................... — — 8,027 1,043 (6) 9,064
Subscriber service expenses .......................................... — — 1,268 257 — 1,525
Broadcast operations expenses ........................................ — — 274 74 (7) 341
Selling, general and administrative expenses, exclusive of depreciation and amortization
expense
Subscriber acquisition costs .......................................... — — 2,478 295 — 2,773
Upgrade and retention costs ......................................... — — 1,045 47 — 1,092
General and administrative expenses .................................... 69 — 1,226 494 (332) 1,457
Depreciation and amortization expense .................................... 2 — 2,275 363 — 2,640
Total operating costs and expenses ..................................... 71 — 16,593 2,573 (345) 18,892
Operating profit (loss) ................................................ (71) 332 2,078 334 — 2,673
Equity in income of consolidated subsidiaries ................................. 1,162 1,029 — — (2,191) —
Interest income ..................................................... 12 4 — 38 (13) 41
Interest expense ..................................................... (2) (335) (13) (86) 13 (423)
Liberty transaction and related charges ...................................... (384) — — (107) — (491)
Other, net ........................................................ (1) (34) 17 52 — 34
Income before income taxes ............................................. 716 996 2,082 231 (2,191) 1,834
Income tax benefit (expense) ............................................ 226 16 (1,053) (16) — (827)
Net income ....................................................... 942 1,012 1,029 215 (2,191) 1,007
Less: Net income attributable to noncontrolling interest .......................... — — — (65) — (65)
Net income attributable to DIRECTV ..................................... $ 942 $1,012 $ 1,029 $ 150 $(2,191) $ 942
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