DIRECTV 2011 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2011 DIRECTV annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

DIRECTV
TABLE OF CONTENTS
Page No.
Part I
Item 1. Business ................................................................................................ 2
Item 1A. Risk Factors ............................................................................................. 18
Item 1B. Unresolved Staff Comments .................................................................................. 27
Item 2. Properties ............................................................................................... 27
Item 3. Legal Proceedings .......................................................................................... 27
Item 4. Mine Safety Disclosures ...................................................................................... 28
Part II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ......................... 29
Item 6. Selected Financial Data ...................................................................................... 30
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ........................................... 31
Item 7A. Quantitative and Qualitative Disclosures About Market Risk ............................................................. 55
Item 8. Financial Statements and Supplementary Data ....................................................................... 56
Report of Independent Registered Public Accounting Firm ................................................................... 56
Consolidated Statements of Operations for the Years Ended December 31, 2011, 2010 and 2009 ......................................... 57
Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2011, 2010 and 2009 ................................. 59
Consolidated Balance Sheets as of December 31, 2011 and 2010 .............................................................. 60
Consolidated Statements of Changes in Stockholders’ Equity and Redeemable Noncontrolling Interest for the Years Ended December 31, 2011, 2010 and
2009 .................................................................................................... 61
Consolidated Statements of Cash Flows for the Years Ended December 31, 2011, 2010 and 2009 ......................................... 62
Notes to the Consolidated Financial Statements .......................................................................... 64
Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure .......................................... 110
Item 9A. Controls and Procedures .................................................................................... 110
Item 9B. Other Information ........................................................................................ 112
Part III
Item 10. Directors, Executive Officers and Corporate Governance ................................................................ 112
Item 11. Executive Compensation ..................................................................................... 112
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters .................................. 112
Item 13. Certain Relationships and Related Transactions, and Director Independence ................................................... 112
Item 14. Principal Accounting Fees and Services ........................................................................... 112
Part IV
Item 15. Exhibits, Financial Statement Schedules ........................................................................... 112
Signatures ...................................................................................................... 118