Dish Network 1998 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 1998 Dish Network 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 81

  • 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

ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
F–31
meteoroid events. EchoStar is presently evaluating the potential effects that the November 1999 meteoroid events
may have on its DBS satellites. At this time, EchoStar has not finally determined the impact, if any, these meteoroid
events may have on EchoStar’s DBS satellites.
11. Summary Financial Information for Subsidiary Guarantors
With the exception of certain de minimis domestic and foreign subsidiaries (collectively, the “Non-Guarantors”), the Seven and Ten
Year Notes are fully, unconditionally and jointly and severally guaranteed by all subsidiaries of DBS Corp.
The combined assets, stockholders’ equity, net loss and operating cash flows of the Non-Guarantors represent less than 1% of the
combined and consolidated assets, stockholders’ equity, net loss and operating cash flows of DBS Corp, including the non-guarantors
during both 1997 and 1998. Summarized combined and consolidated financial information for DBS Corp and the subsidiary
guarantors is as follows (in thousands):
Year Ended December 31,
1996
1997
1998
Operations Data:
loss
me (expense)
fore taxes
benefit (provision), net
December 31,
1997 1998
Balance Sheet Data:
Current assets........................................................................................ $ 183,215 $ 241,582
Property and equipment, net .................................................................. 859,279 853,818
Other noncurrent assets ......................................................................... 388,934 374,773
Total assets ........................................................................................... $ 1,431,428 $ 1,470,173
Current liabilities................................................................................... $ 305,656 $ 477,062
Long-term liabilities.............................................................................. 1,439,318 1,581,249
Stockholder’s equity (deficit) ................................................................. (313,546) (588,138)
Total liabilities and stockholder’s equity (deficit) ................................... $ 1,431,428 $ 1,470,173
12. Segment Reporting
EchoStar adopted Financial Accounting Standard No. 131, “Disclosures About Segments of an Enterprise and Related Information”
(“FAS No. 131”) effective as of the year ended December 31, 1998. FAS No. 131 establishes standards for reporting information
about operating segments in annual financial statements of public business enterprises and requires that those enterprises report
selected information about operating segments in interim financial reports issued to shareholders and for related disclosures about
products and services, geographic areas, and major customers.