DIRECTV 2012 Annual Report Download - page 108

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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
The fair value measurement of plan assets using significant unobservable inputs Estimated Future Benefit Payments
(Level 3) changed during 2011 and 2012 due to the following: We expect the following benefit payments, which reflect expected future
service, as appropriate, to be paid by the plans during the years ending
Partnerships
and Joint December 31:
Venture
Interests Hedge Funds Total Estimated Future Benefit
(Dollars in Millions) Payments
Balance as of January 1, 2011 ............ $28 $— $28 Other
Pension Postretirement
Realized losses ...................... (1) — (1) Benefits Benefits
Unrealized gains .................... 5 (3) 2 (Dollars in Millions)
Purchases and sales ................... (2) 44 42 2013 .................................... $ 41 $ 2
Balance as of December 31, 2011 ......... 30 41 71 2014 .................................... 41 2
Unrealized gains .................... 1 3 4 2015 .................................... 42 2
2016 .................................... 42 2
Balance as of December 31, 2012 ......... $31 $44 $75
2017 .................................... 41 2
2018-2022 ................................ 218 10
Cash Flows
We maintain 401(k) plans for qualified employees. We match a portion of our
Contributions employee contributions and our match amounted to $30 million in 2012,
$28 million in 2011 and $23 million in 2010.
We expect to contribute approximately $15 million to our qualified pension
plans and make payments of $6 million to our nonqualified pension plan We have disclosed certain amounts associated with estimated future
participants in 2013. postretirement benefits other than pensions and characterized such amounts as
‘‘other postretirement benefit obligation.’’ Notwithstanding the recording of such
amounts and the use of these terms, we do not admit or otherwise acknowledge
that such amounts or existing postretirement benefit plans of our company (other
than pensions) represent legally enforceable liabilities of us.
Note 15: Stockholders’ Deficit
Capital Stock and Additional Paid-In Capital
Following completion of the Liberty Transaction in November 2009,
DIRECTV had two classes of common stock outstanding: Class A common stock,
par value $0.01 per share, and Class B common stock, par value $0.01 per share.
There have been no Class B shares outstanding since the completion of the Malone
Transaction on June 16, 2010, as discussed below. The DIRECTV Class A
common stock was entitled to one vote per share and traded on the NASDAQ
88