DIRECTV 2012 Annual Report Download - page 97

Download and view the complete annual report

Please find page 97 of the 2012 DIRECTV annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 154

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154

DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
On March 17, 2011, DIRECTV U.S. purchased, pursuant to a tender offer, Term Loan C resulted in a 2010 pre-tax charge of $9 million ($6 million after tax),
$341 million of its then outstanding $1,002 million of 6.375% senior notes due in of which $6 million resulted from the write-off of unamortized discount and
2015 at a price of 103.313%, plus accrued and unpaid interest, for a total of $3 million resulted from the write-off of deferred debt issuance and other
$358 million. On June 15, 2011, DIRECTV U.S. redeemed, pursuant to the terms transaction costs. The charge was recorded in ‘‘Other, net’’ in our Consolidated
of its indenture, the remaining $659 million of its outstanding 6.375% senior notes Statements of Operations.
due 2015, at a price of 102.125%, plus accrued and unpaid interest, for a total of On August 17, 2010, pursuant to a registration statement, DIRECTV U.S.
$694 million. The redemption of the 6.375% senior notes resulted in a 2011 issued the following senior notes:
pre-tax charge of $25 million, $16 million after tax, primarily for the premiums
paid. The charge was recorded in ‘‘Other, net’’ in our Consolidated Statements of Proceeds, net
Principal of discount
Operations.
(Dollars in Millions)
3.125% senior notes due in 2016 ................. $ 750 $ 750
2010 Financing Transactions 4.600% senior notes due in 2021 ................. 1,000 999
On March 11, 2010, DIRECTV U.S. issued the following senior notes: 6.000% senior notes due in 2040 ................. 1,250 1,233
Proceeds, net $3,000 $2,982
Principal of discount
(Dollars in Millions) We incurred $19 million of debt issuance costs in connection with these
3.550% senior notes due in 2015 ................. $1,200 $1,199 transactions.
5.200% senior notes due in 2020 ................. 1,300 1,298 On August 20, 2010, DIRECTV U.S. repaid the $1,220 million of remaining
6.350% senior notes due in 2040 ................. 500 499 principal on Term Loans A and B of its senior secured credit facility. The
$3,000 $2,996 repayment of Term Loans A and B resulted in a 2010 pre-tax charge of $7 million
($4 million after tax) resulting from the write-off of deferred debt issuance and
We incurred $17 million of debt issuance costs in connection with these other transaction costs. The charge was recorded in ‘‘Other, net’’ in our
transactions. Consolidated Statements of Operations.
On March 16, 2010, DIRECTV U.S. repaid the $985 million of remaining
principal on Term Loan C of its senior secured credit facility. The repayment of
77