Dish Network 1997 Annual Report Download - page 79

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ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
13. Parent Company Only and Consolidation of Subsidiary Guarantors − Continued
F–32
Consolidating Balance Sheets − As of December 31, 1997 (in millions)
ESBC-
PC C&E
ESB
C
DBS
Corp-
PC C&E
DBS
Corp
ECC-
PC Other C&E
ECC
Assets
Current Assets:
Cash and cash equivalents ............................ $ 36 $ 10 $ – $ 46 $ 16 $ – $ 62 $ 83 $ – $ – $ 145
Marketable investment securities ................. –– – –4–4271 – – 275
Trade accounts receivable, net ..................... 66 – – 66 – – 66 – – – 66
Inventories ................................ ..................... 23 – – 23 – – 23 – – – 23
Subscriber acquisition costs, net .................. 19 – – 19 – – 19 – – – 19
Other current assets ................................ ....... 8– – 8– – 810 3 ( 5) 16
Total current assets ................................ ............ 152 10 –162 20 –182 364 3 (5) 544
Advances to affiliates, net ................................ . –386 (194) 192 38 –230 13 –(243) –
Restricted cash and marketable investment
securities ................................ ........................ 2– – 2186 –188 – – – 188
Property and equipment, net ............................. 505 – – 505 64 –569 –306 –875
FCC authorizations, net ................................ ..... 12 – – 12 69 –81 –18 –99
Other noncurrent assets ................................ ..... 73 16 –89 12 –101 47 1 (49) 100
Total assets................................ ................ $ 744 $412 $(194) $962 $ 389 $ – $1,351 $ 424 $328 $(297) $1,806
Liabilities and Stockholders’ Equity (Deficit)
Current Liabilities:
Trade accounts payable ................................ $ 68 $ – $ – $ 68 $ – $ – $ 68 $ – $ – $ – $ 68
Deferred revenue ................................ ........... 122 – – 122 – – 122 – – 1123
Accrued expenses................................ .......... 72 – – 72 25 –97 3 11 ( 9) 102
Advances from affiliates, net ....................... 194 –(194) –– – ––243 (243) –
Current portion of long-term debt ................ 15 – – 15 – – 15 –3–18
Total current liabilities ................................ ...... 471 –(194) 277 25 –302 3 257 (251) 311
Long term obligations, net of current portion:
Investment in subsidiaries. ........................... –288 (288) –314 (314) –311 (311) –
1994 Notes................................ ..................... 500 – – 500 – – 500 – – – 500
1996 Notes................................ ..................... –438 –438 – – 438 – – – 438
1997 Notes................................ ..................... –– – –375 –375 – – – 375
Mortgages and other notes payable, net of
current portion ................................ .......... 41 – – 41 – – 41 –57 ( 46) 52
Long-term deferred satellite services
revenue and other long-term liabilities ... 20 – – 20 – – 20 – – – 20
Total long-term liabilities ................................ .. 561 726 (288) 999 689 (314) 1,374 311 57 (357) 1,385
Total liabilities ................................ .......... 1,032 726 (482) 1,276 714 (314) 1,676 314 314 (608) 1,696
12 1/8% Series B Senior Redeemable
Exchangeable Preferred Stock ................. –– – –– – –199 – – 199
Stockholders’ equity (deficit) ............................ (288) (314) 288 (314) (325) 314 (325) ( 89) 14 311 (89)
Total liabilities and stockholders’
equity (deficit)................................ ...... $ 744 $ 412 $(194) $ 962 $ 389 $ – $1,351 $ 424 $328 $(297) $1,806