|
|
Pro Forma Selected Segment Data*
(Dollars in Millions)
|
|
|
|
|
|
|
Year Ended
|
|
|
|
|
Fourth Quarter
|
|
|
December 31,
|
|
|
|
|
1998
|
|
|
1997
|
|
|
1998
|
|
|
1997
|
|
| DIRECT-TO-HOME BROADCAST |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$
|
567.6
|
|
$
|
415.9
|
|
$
|
1,816.1
|
|
$
|
1,276.9
|
| Operating Loss |
|
$
|
(94.5)
|
|
$
|
(95.9)
|
|
$
|
(228.1)
|
|
$
|
(254.6)
|
| Depreciation and Amortization |
|
$
|
25.1
|
|
$
|
23.6
|
|
$
|
102.3
|
|
$
|
86.1
|
| Capital Expenditures (1) |
|
$
|
100.7
|
|
$
|
51.4
|
|
$
|
230.8
|
|
$
|
105.6
|
|
| SATELLITE SERVICES |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$
|
196.7
|
|
$
|
197.9
|
|
$
|
767.3
|
|
$
|
629.9
|
| Operating Profit |
|
$
|
82.4
|
|
$
|
93.3
|
|
$
|
321.6
|
|
$
|
296.2
|
| Operating Profit Margin |
|
|
41.9%
|
|
|
47.1%
|
|
|
41.9%
|
|
|
47.0%
|
| Depreciation and Amortization |
|
$
|
61.9
|
|
$
|
50.0
|
|
$
|
231.7
|
|
$
|
141.9
|
| Capital Expenditures (2) |
|
$
|
316.7
|
|
$
|
82.0
|
|
$
|
921.7
|
|
$
|
625.7
|
|
| SATELLITE SYSTEMS |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$
|
843.1
|
|
$
|
743.8
|
|
$
|
2,831.1
|
|
$
|
2,491.9
|
| Operating Profit |
|
$
|
67.4
|
|
$
|
66.6
|
|
$
|
246.3
|
|
$
|
226.3
|
| Operating Profit Margin |
|
|
8.0%
|
|
|
9.0%
|
|
|
8.7%
|
|
|
9.1%
|
| Depreciation and Amortization |
|
$
|
14.1
|
|
$
|
11.7
|
|
$
|
49.2
|
|
$
|
39.4
|
| Capital Expenditures |
|
$
|
49.2
|
|
$
|
45.7
|
|
$
|
99.7
|
|
$
|
113.9
|
|
| NETWORK SYSTEMS |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$
|
402.6
|
|
$
|
401.9
|
|
$
|
1,076.7
|
|
$
|
1,011.3
|
| Operating Profit |
|
$
|
31.1
|
|
$
|
68.0
|
|
$
|
10.9
|
|
$
|
74.1
|
| Operating Profit Margin |
|
|
7.7%
|
|
|
16.9%
|
|
|
1.0%
|
|
|
7.3%
|
| Depreciation and Amortization |
|
$
|
11.9
|
|
$
|
10.3
|
|
$
|
41.7
|
|
$
|
32.0
|
| Capital Expenditures |
|
$
|
13.6
|
|
$
|
10.1
|
|
$
|
40.0
|
|
$
|
43.1
|
|
| ELIMINATIONS and OTHER |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$
|
(219.4)
|
|
$
|
(64.9)
|
|
$
|
(527.3)
|
|
$
|
(281.7)
|
| Operating (Loss) |
|
$
|
(45.6)
|
|
$
|
(40.2)
|
|
$
|
(80.6)
|
|
$
|
(35.6)
|
| Depreciation and Amortization |
|
$
|
11.6
|
|
$
|
5.5
|
|
$
|
8.9
|
|
$
|
(3.0)
|
| Capital Expenditures |
|
$
|
21.8
|
|
$
|
85.9
|
|
$
|
136.3
|
|
$
|
(61.7)
|
|
| CONSOLIDATED TOTAL |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$
|
1,790.6
|
|
$
|
1,694.6
|
|
$
|
5,963.9
|
|
$
|
5,128.3
|
| Operating Profit |
|
$
|
40.8
|
|
$
|
91.8
|
|
$
|
270.1
|
|
$
|
306.4
|
| Operating Profit Margin |
|
|
2.3%
|
|
|
5.4%
|
|
|
4.5%
|
|
|
6.0%
|
| Depreciation and Amortization |
|
$
|
124.6
|
|
$
|
101.1
|
|
$
|
433.8
|
|
$
|
296.4
|
| Capital Expenditures |
|
$
|
502.0
|
|
$
|
275.1
|
|
$
|
1,428.5
|
|
$
|
826.6
|
|
* The Financial Statements reflect the application of purchase accounting adjustments
related to GM's acquisition of Hughes. However, as provided in the General Motors'
Restated Certificate of Incorporation, the earnings attributable to GM Class H common
stock for purposes of determining the amount available for the payment of dividends
on GM Class H common stock specifically excludes such adjustments. In order to provide
additional analytical data, the above unaudited pro forma selected segment data,
which exclude the purchase accounting adjustments related to GM's acquisition of
Hughes, are presented.
(1) Includes expenditures related to satellites amounting to $32.2 million and $70.2
million in the fourth quarter and twelve month period of 1998.
(2) Includes expenditures related to satellites amounting to $304.1 million, $78.8 million,
$726.3 and $606.1 million,respectively. Also included in the year ended December
31, 1998 amount is $155.5 million related to the early buy-out of satellite sale-leasebacks.
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