DIRECTV 2011 Annual Report Download - page 84

DIRECTV
CONSOLIDATED BALANCE SHEETS
December 31,
2011 2010
(Dollars in Millions,
Except Share Data)
ASSETS
Current assets
Cash and cash equivalents ..................................................................................... $ 873 $ 1,502
Accounts receivable, net ....................................................................................... 2,474 2,001
Inventories ............................................................................................... 280 247
Deferred income taxes ........................................................................................ 62 53
Prepaid expenses and other ..................................................................................... 552 450
Total current assets ....................................................................................... 4,241 4,253
Satellites, net ................................................................................................. 2,215 2,235
Property and equipment, net ....................................................................................... 5,223 4,444
Goodwill ................................................................................................... 4,097 4,148
Intangible assets, net ............................................................................................ 909 1,074
Investments and other assets ....................................................................................... 1,738 1,755
Total assets ............................................................................................ $18,423 $17,909
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accounts payable and accrued liabilities ............................................................................. $4,210 $ 3,926
Unearned subscriber revenues and deferred credits ....................................................................... 533 486
Short-term borrowings ........................................................................................ — 38
Total current liabilities .................................................................................... 4,743 4,450
Long-term debt ............................................................................................... 13,464 10,472
Deferred income taxes ........................................................................................... 1,771 1,670
Other liabilities and deferred credits .................................................................................. 1,287 1,287
Commitments and contingencies
Redeemable noncontrolling interest ................................................................................... 265 224
Stockholders’ deficit
Common stock and additional paid-in capital—$0.01 par value, 3,947,000,000 and 3,500,000,000 shares authorized, 691,306,695 and 808,447,044 shares issued
and outstanding of DIRECTV Class A common stock at December 31, 2011 and December 31, 2010, respectively ............................ 4,799 5,563
Accumulated deficit ......................................................................................... (7,750) (5,730)
Accumulated other comprehensive loss .............................................................................. (156) (27)
Total stockholders’ deficit ................................................................................... (3,107) (194)
Total liabilities and stockholders’ deficit .......................................................................... $18,423 $17,909
The accompanying notes are an integral part of these Consolidated Financial Statements.
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