DIRECTV 2012 Annual Report Download - page 131
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Condensed Consolidating Balance Sheet
As of December 31, 2011
Parent Guarantor Non-Guarantor DIRECTV
Guarantor Co-Issuers Subsidiaries Subsidiaries Eliminations Consolidated
(Dollars in Millions)
ASSETS
Total current assets .................................................. $ 412 $ 533 $ 2,514 $ 1,397 $ (615) $ 4,241
Satellites, net ...................................................... — — 1,724 491 — 2,215
Property and equipment, net ............................................ — — 3,084 2,139 — 5,223
Goodwill ......................................................... — 1,828 1,349 920 — 4,097
Intangible assets, net ................................................. — — 461 448 — 909
Intercompany receivables ............................................... 3,746 4,011 11,582 3,442 (22,781) —
Investment in subsidiaries .............................................. (5,510) 12,057 — (7,607) 1,060 —
Other assets ....................................................... 74 64 256 1,425 (81) 1,738
Total assets ........................................................ $(1,278) $18,493 $20,970 $ 2,655 $(22,417) $18,423
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Total current liabilities ................................................ $ 383 $ 204 $ 3,422 $ 1,349 $ (615) $ 4,743
Long-term debt ..................................................... — 13,464 — — — 13,464
Deferred income taxes ................................................ — — 1,321 531 (81) 1,771
Intercompany liabilities ................................................ 895 11,582 4,011 6,293 (22,781) —
Other liabilities and deferred credits ....................................... 551 82 159 495 — 1,287
Redeemable noncontrolling interest ........................................ — — — 265 — 265
Stockholders’ equity (deficit)
Capital stock and additional paid-in capital ................................. 4,799 11 4,684 (561) (4,134) 4,799
Retained earnings (accumulated deficit) ................................... (7,750) (6,850) 7,373 (5,703) 5,180 (7,750)
Accumulated other comprehensive loss .................................... (156) — — (14) 14 (156)
Total stockholders’ equity (deficit) ..................................... (3,107) (6,839) 12,057 (6,278) 1,060 (3,107)
Total liabilities and stockholders’ equity (deficit) ............................... $(1,278) $18,493 $20,970 $ 2,655 $(22,417) $18,423
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