| |
Third Quarter
|
|
Nine Months
Ended September 30,
|
| |
1999
|
|
1998
|
|
1999
|
|
1998
|
|
| Revenues |
|
|
|
|
|
|
|
| Direct broadcast, leasing and other services |
$1,294.4
|
|
$640.5
|
|
$3,095.2
|
|
$1,845.8
|
| Product sales |
696.1
|
|
872.8
|
|
2,123.1
|
|
2,327.5
|
|
| Total Revenues |
1,990.5
|
|
1,513.3
|
|
5,218.3
|
|
4,173.3
|
|
| Operating Costs and Expenses |
|
|
|
|
|
|
|
| Cost of products sold |
606.7
|
|
659.5
|
|
1,961.6
|
|
1,782.4
|
| Broadcast programming and other costs |
573.9
|
|
284.6
|
|
1,344.1
|
|
800.2
|
| Selling, general and administrative expenses |
598.3
|
|
390.4
|
|
1,551.6
|
|
1,052.2
|
| Depreciation and amortization |
216.5
|
|
111.3
|
|
499.3
|
|
309.2
|
| Amortization of GM purchase accounting adjustments (1) |
5.3
|
|
5.3
|
|
15.9
|
|
15.9
|
|
| Total Operating Costs and Expenses |
2,000.7
|
|
1,451.1
|
|
5,372.5
|
|
3,959.9
|
|
| Operating Profit (Loss) |
(10.2)
|
|
62.2
|
|
(154.2)
|
|
213.4
|
| |
|
|
|
|
|
|
|
| Interest income |
2.4
|
|
20.5
|
|
20.9
|
|
88.6
|
| Interest expense |
(51.7)
|
|
(3.6)
|
|
(71.0)
|
|
(9.5)
|
| Other, net |
(22.4)
|
|
(33.4)
|
|
77.8
|
|
(102.8)
|
|
| Income (Loss) Before Income Taxes, Minority Interests and |
|
|
|
|
|
|
|
| Cumulative Effect of Accounting Change |
(81.9)
|
|
45.7
|
|
(126.5)
|
|
189.7
|
| |
|
|
|
|
|
|
|
| Income tax provision (benefit) |
(38.2)
|
|
17.4
|
|
(44.9)
|
|
72.1
|
| Minority interests in net losses of subsidiaries |
8.8
|
|
9.3
|
|
22.1
|
|
19.2
|
|
| |
|
|
|
|
|
|
|
| Income (Loss) before cumulative effect of accounting change |
(34.9)
|
|
37.6
|
|
(59.5)
|
|
136.8
|
| |
|
|
|
|
|
|
|
| Cumulative effect of accounting change, net of taxes |
-
|
|
-
|
|
-
|
|
(9.2)
|
|
| Net Income (Loss) |
(34.9)
|
|
37.6
|
|
(59.5)
|
|
127.6
|
| |
|
|
|
|
|
|
|
| Adjustments to exclude the effect of GM purchase |
|
|
|
|
|
|
|
| accounting adjustments (1) |
5.3
|
|
5.3
|
|
15.9
|
|
15.9
|
|
| Earnings (Loss) excluding the effect of GM purchase |
|
|
|
|
|
|
|
| acounting adjustments |
(29.6)
|
|
42.9
|
|
(43.6)
|
|
143.5
|
| |
|
|
|
|
|
|
|
| Preferred stock dividends |
(24.7)
|
|
-
|
|
(26.3)
|
|
-
|
|
| Earnings (Loss) Used for Computation of Available |
|
|
|
|
|
|
|
| Separate Consolidated Net Income (Loss) |
$(54.3)
|
|
$42.9
|
|
$(69.9)
|
|
$143.5
|
|
| Available Separate Consolidated Net Income (Loss) |
|
|
|
|
|
|
|
| Average number of shares of General Motors Class H |
|
|
|
|
|
|
|
| Common Stock outstanding (in millions) (Numerator) |
135.1
|
|
105.7
|
|
120.8
|
|
105.0
|
| Average Class H dividend base (in millions) (Denominator) |
428.9
|
|
399.9
|
|
414.7
|
|
399.9
|
| Available Separate Consolidated Net Income (Loss) |
$(17.1)
|
|
$11.4
|
|
$(20.4)
|
|
$37.6
|
|
| Earnings (Loss) Attributable to General Motors Class H |
|
|
|
|
|
|
|
| Common Stock on a Per Share Basis - Basic and Diluted |
$(0.13)
|
|
$0.11
|
|
$(0.17)
|
|
$0.36
|
