Dish Network 2011 Annual Report Download - page 133

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DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-39
Accrued interest and penalties on uncertain tax positions are recorded as a component of “Other, net” on our
Consolidated Statements of Operations and Comprehensive Income (Loss). During the year ended December 31, 2011,
we recorded $4 million in interest and penalty expense to earnings. During the year ended December 31, 2010, we
recorded $3 million in interest and penalty benefit to earnings. During the year ended December 31, 2009, we recorded
$9 million in interest and penalty expense to earnings. Accrued interest and penalties were $17 million and $13 million
at December 31, 2011 and 2010, respectively. The above table excludes these amounts.
13. 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 DISH Network, 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. Together with all other stockholders, he also owns outstanding Class A common stock.
There are no shares of Class C common stock outstanding.
Common Stock Repurchase Program
Our Board of Directors previously authorized the repurchase of up to $1.0 billion of our Class A common stock. On
November 1, 2011, our Board of Directors extended the plan and authorized an increase in the maximum dollar value of
shares that may be repurchased under the plan, such that we are currently authorized to repurchase up to $1.0 billion of
our outstanding shares of our Class A common stock through and including December 31, 2012. As of December 31,
2011, we may repurchase up to $1.0 billion under the plan.
The following table provides information regarding repurchases of our Class A common stock.
Class A Common Stock Re
p
urchases 2011 2010 2009
Total number of shares repurchased..................... - 6,020 1,948
Dollar value of shares repurchased...................... $ - $ 107,079 $ 18,594
(In thousands)
For the Years Ended December 31,
Cash Dividend
On December 2, 2009, we paid a cash dividend of $2.00 per share, or approximately $894 million, on our outstanding Class
A and Class B common stock to shareholders of record at the close of business on November 20, 2009.
On December 1, 2011, we paid a cash dividend of $2.00 per share, or approximately $893 million, on our outstanding Class
A and Class B common stock to shareholders of record at the close of business on November 17, 2011.