Dish Network 2005 Annual Report Download - page 120

ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
F–35
The temporary differences, which give rise to deferred tax assets and liabilities as of December 31, 2006 and 2005,
are as follows:
As of December 31,
2006 2005
(In thousands)
Deferred tax assets:
NOL, credit and other carryforwards .......................................... 645,571$ 955,832$
Unrealized losses on investments ............................................... 4,546 33,355
Accrued expenses ....................................................................... 16,065 11,299
Stock compensation .................................................................... 10,041 2,240
Deferred revenue......................................................................... 64,377 68,655
Other ........................................................................................... 48,935 12,241
Total deferred tax assets ............................................................. 789,535 1,083,622
Valuation allowance ................................................................... (4,034) (11,358)
Deferred tax asset after valuation allowance .............................. 785,501 1,072,264
Deferred tax liabilities:
Equity method investments ........................................................ (16,447) (19,228)
Depreciation and amortization .................................................... (417,328) (429,551)
State taxes net of federal effect.................................................... 4,714 (20,263)
Other ........................................................................................... (291) -
Total deferred tax liabilities ........................................................ (429,352) (469,042)
Net deferred tax asset (liability) ................................................. 356,149$ 603,222$
Current portion of net deferred tax asset (liability) ..................... 548,766$ 397,076$
Noncurrent portion of net deferred tax asset (liability) ............... (192,617) 206,146
Total net deferred tax asset (liability) ......................................... 356,149$ 603,222$
7. Stockholders’ Equity (Deficit)
Common Stock
The Class A, Class B and Class C common stock are equivalent except for voting rights. Holders of Class A and Class
C common stock are entitled to one vote per share and holders of Class B common stock are entitled to 10 votes per
share. Each share of Class B and Class C common stock is convertible, at the option of the holder, into one share of
Class A common stock. Upon a change in control of ECC, each holder of outstanding shares of Class C common stock
is entitled to 10 votes for each share of Class C common stock held. Our principal stockholder owns the majority of all
outstanding Class B common stock and, together with all other stockholders, owns outstanding Class A common stock.
There are no shares of Class C common stock outstanding.
Common Stock Repurchase Programs
During 2003, our Board of Directors authorized the repurchase of an aggregate of up to $1.0 billion of our Class A
common stock. As of July 15, 2004, we had completed this share repurchase plan, having purchased a total of 31.8
million shares of our Class A common stock for a total of $1.0 billion.
During August 2004, our Board of Directors authorized the repurchase of an aggregate of up to an additional $1.0
billion of our Class A common stock pursuant to a new repurchase plan. During 2006 and 2005, we purchased
approximately 0.4 million and 13.2 million shares of our Class A common stock for $11.7 million and $362.5
million, respectively. Our share repurchase program does not require us to acquire any specific number or amount
of securities and may be terminated at any time.