DIRECTV 2011 Annual Report Download - page 69

DIRECTV
Earnings Per Share. Class A common stock earnings per share (DIRECTV DIRECTV U.S. Segment
Group common stock for the period January 1, 2009 through November 19, 2009) The following table provides operating results and a summary of key
and weighted shares outstanding were as follows for the years ended December 31: subscriber data for the DIRECTV U.S. segment:
2010 2009 Change
(Shares in 2010 2009 $ %
Millions) (Dollars in Millions, Except Per
Basic earnings attributable to DIRECTV Class A common Subscriber Amounts)
Revenues ............................ $20,268 $18,671 $1,597 8.6%
stockholders per common share ...................... $2.31 $0.96 Operating costs and expenses
Diluted earnings attributable to DIRECTV Class A common Costs of revenues, exclusive of depreciation and
stockholders per common share ...................... 2.30 0.95 amortization expense
Weighted average number of Class A common shares outstanding Broadcast programming and other .......... 8,699 8,027 672 8.4%
Subscriber service expenses . . . ............ 1,340 1,268 72 5.7%
Basic ......................................... 870 982 Broadcast operations expenses ............. 273 274 (1) (0.4)%
Diluted ....................................... 876 989 Selling, general and administrative expenses, exclusive
of depreciation and amortization expense
The increases in basic and diluted earnings per share for Class A common Subscriber acquisition costs . . . ............ 2,631 2,478 153 6.2%
stock were due to higher net income attributable to DIRECTV, the charge recorded Upgrade and retention costs .............. 1,106 1,045 61 5.8%
for the Liberty Transaction in 2009 and a reduction in weighted shares outstanding General and administrative expenses ......... 1,003 894 109 12.2%
Depreciation and amortization expense ........... $1,926 $ 2,275 $ (349) (15.3)%
resulting from our share repurchase program and the effect of the Liberty
Transaction, partially offset by the $160 million inducement in 2010 paid in Total operating costs and expenses ......... 16,978 16,261 717 4.4%
connection with the Malone Transaction. Operating profit ........................ $3,290 $ 2,410 $ 880 36.5%
Operating profit margin ................... 16.2% 12.9% — —
Other data:
Operating profit before depreciation and amortization . . $ 5,216 $ 4,685 $ 531 11.3%
Operating profit before depreciation and amortization
margin ............................ 25.7% 25.1% — —
Total number of subscribers (in thousands) ........ 19,223 18,560 663 3.6%
ARPU .............................. $89.71 $ 85.48 $ 4.23 4.9%
Average monthly subscriber churn % ............ 1.53% 1.53% — —%
Gross subscriber additions (in thousands) ......... 4,124 4,273 (149) (3.5)%
Subscriber disconnections (in thousands) .......... 3,461 3,334 127 3.8%
Net subscriber additions (in thousands) .......... 663 939 (276) (29.4)%
Average subscriber acquisition costs—per subscriber
(SAC)............................. $ 796 $ 712 $ 84 11.8%
Capitalized subscriber leased equipment:
Subscriber leased equipment—subscriber acquisitions . . $ 651 $ 564 $ 87 15.4%
Subscriber leased equipment—upgrade and retention . . 316 419 (103) (24.6)%
Total subscriber leased equipment capitalized ....... $ 967 $ 983 $ (16) (1.6)%
Depreciation expense—subscriber leased equipment . . . $ 1,145 $ 1,333 $ (188) (14.1)%
Subscribers. In 2010, gross subscriber additions decreased primarily due to the
impact of the transition to digital broadcast in 2009 and lower additions from our
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