|
|
Second Quarter
|
|
Six Months
Ended June 30,
|
|
|
1999
|
|
1998
|
|
1999
|
|
1998
|
|
| Revenues |
|
|
|
|
|
|
|
| Direct broadcast, leasing and other services |
$1,065.1
|
|
$606.4
|
|
$1,800.8
|
|
$1,205.3
|
| Product sales |
710.9
|
|
762.6
|
|
1,427.0
|
|
1,454.7
|
|
| Total Revenues |
1,776.0
|
|
1,369.0
|
|
3,227.8
|
|
2,660.0
|
|
| Operating Costs and Expenses |
|
|
|
|
|
|
|
| Cost of products sold |
685.7
|
|
580.6
|
|
1,354.9
|
|
1,122.9
|
| Broadcast programming and other costs |
478.6
|
|
250.8
|
|
770.2
|
|
515.6
|
| Selling, general and administrative expenses |
548.5
|
|
359.2
|
|
953.3
|
|
661.8
|
| Depreciation and amortization |
159.8
|
|
100.2
|
|
282.8
|
|
197.9
|
| Amortization of GM purchase accounting adjustments (1) |
5.3
|
|
5.3
|
|
10.6
|
|
10.6
|
|
| Total Operating Costs and Expenses |
1,877.9
|
|
1,296.1
|
|
3,371.8
|
|
2,508.8
|
|
| Operating Profit (Loss) |
(101.9)
|
|
72.9
|
|
(144.0)
|
|
151.2
|
|
|
|
|
|
|
|
|
|
| Interest income |
4.9
|
|
30.6
|
|
18.5
|
|
68.1
|
| Interest expense |
(12.4)
|
|
(2.9)
|
|
(19.3)
|
|
(5.9)
|
| Other, net |
(37.5)
|
|
(35.1)
|
|
100.2
|
|
(69.4)
|
|
| Income (Loss) Before Income Taxes, Minority Interests and |
|
|
|
|
|
|
|
| Cumulative Effect of Accounting Change |
(146.9)
|
|
65.5
|
|
(44.6)
|
|
144.0
|
|
|
|
|
|
|
|
|
|
| Income tax provision (benefit) |
(42.5)
|
|
23.3
|
|
(6.7)
|
|
54.7
|
| Minority interests in net losses of subsidiaries |
6.8
|
|
8.6
|
|
13.3
|
|
9.9
|
|
| Income (Loss) before cumulative effect of accounting change |
(97.6)
|
|
50.8
|
|
(24.6)
|
|
99.2
|
| Cumulative effect of accounting change, net of taxes |
-
|
|
-
|
|
-
|
|
(9.2)
|
|
| Net Income (Loss) |
(97.6)
|
|
50.8
|
|
(24.6)
|
|
90.0
|
|
|
|
|
|
|
|
|
|
| Adjustments to exclude the effect of GM purchase |
|
|
|
|
|
|
|
| accounting adjustments (1) |
5.3
|
|
5.3
|
|
10.6
|
|
10.6
|
|
| Earnings (Loss) excluding the effect of GM purchase accounting |
|
|
|
|
|
|
|
| adjustments |
(92.3)
|
|
56.1
|
|
(14.0)
|
|
100.6
|
|
|
|
|
|
|
|
|
|
| Preferred stock dividends |
(1.6)
|
|
-
|
|
(1.6)
|
|
-
|
|
| Earnings (Loss) Used for Computation of Available |
|
|
|
|
|
|
|
| Separate Consolidated Net Income (Loss) |
$(93.9)
|
|
$56.1
|
|
$(15.6)
|
|
$100.6
|
|
| Available Separate Consolidated Net Income (Loss) |
|
|
|
|
|
|
|
| Average number of shares of General Motors Class H |
|
|
|
|
|
|
|
| Common Stock outstanding (in millions) |
121.0
|
|
105.2
|
|
113.6
|
|
104.7
|
| Average Class H dividend base (in millions) |
414.9
|
|
399.9
|
|
407.5
|
|
399.9
|
| Available Separate Consolidated Net Income (Loss) |
$(27.4)
|
|
$14.7
|
|
$(4.3)
|
|
$26.2
|
|
| Earnings (Loss) Attributable to General Motors Class H |
|
|
|
|
|
|
|
| Common Stock on a Per Share Basis - Basic and Diluted |
$(0.23)
|
|
$0.14
|
|
$(0.04)
|
|
$0.25
|
