DIRECTV 2012 Annual Report Download - page 124
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2012
Parent Guarantor Non-Guarantor DIRECTV
Guarantor Co-Issuers Subsidiaries Subsidiaries Eliminations Consolidated
(Dollars in Millions)
Revenues ......................................................... $ — $ 59 $23,235 $6,583 $ (137) $29,740
Operating costs and expenses
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other ..................................... — — 10,743 2,355 (70) 13,028
Subscriber service expenses .......................................... — — 1,464 673 — 2,137
Broadcast operations expenses ........................................ — — 306 116 (8) 414
Selling, general and administrative expenses, exclusive of depreciation and amortization
expense
Subscriber acquisition costs .......................................... — — 2,673 724 — 3,397
Upgrade and retention costs ......................................... — — 1,253 174 — 1,427
General and administrative expenses .................................... 42 1 1,201 630 (59) 1,815
Depreciation and amortization expense .................................... — — 1,501 936 — 2,437
Total operating costs and expenses ..................................... 42 1 19,141 5,608 (137) 24,655
Operating profit (loss) ................................................ (42) 58 4,094 975 — 5,085
Equity in income of consolidated subsidiaries ................................. 2,980 2,819 — — (5,799) —
Interest income ..................................................... 2 1 — 68 (12) 59
Interest expense ..................................................... (2) (773) (3) (76) 12 (842)
Other, net ........................................................ (4) (65) 33 176 — 140
Income before income tax .............................................. 2,934 2,040 4,124 1,143 (5,799) 4,442
Income tax benefit (expense) ............................................ 15 246 (1,305) (421) — (1,465)
Net income ....................................................... 2,949 2,286 2,819 722 (5,799) 2,977
Less: Net income attributable to noncontrolling interest .......................... — — — (28) — (28)
Net income attributable to DIRECTV ..................................... $2,949 $2,286 $ 2,819 $ 694 $(5,799) $ 2,949
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