|
PRO FORMA SELECTED SEGMENT DATA*
(Dollars in Millions)
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Years Ended |
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Fourth Quarter
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December 31,
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1999 |
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|
1998 |
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1999 |
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|
1998 |
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|
DIRECT-TO-HOME BROADCAST |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenues |
|
|
$ |
1,213.6 |
|
$ |
567.6 |
|
|
$ |
3,785.0 |
|
$ |
1,816.1 |
|
EBITDA (1) |
|
|
$ |
(24.9) |
|
$ |
(69.4) |
|
|
$ |
19.9 |
|
$ |
(125.8) |
|
EBITDA Margin (1) |
|
|
|
N/A |
|
|
N/A |
|
|
|
0.5% |
|
|
N/A |
|
Operating Loss |
|
|
$ |
(132.7) |
|
$ |
(94.5) |
|
|
$ |
(292.1) |
|
$ |
(228.1) |
|
Depreciation and Amortization |
|
|
$ |
107.8 |
|
$ |
25.1 |
|
|
$ |
312.0 |
|
$ |
102.3 |
|
Capital Expenditures (2) |
|
|
$ |
263.5 |
|
$ |
100.7 |
|
|
$ |
516.9 |
|
$ |
230.8 |
|
|
SATELLITE SERVICES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenues |
|
|
$ |
206.0 |
|
$ |
196.7 |
|
|
$ |
810.6 |
|
$ |
767.3 |
|
EBITDA (1) |
|
|
$ |
152.9 |
|
$ |
144.3 |
|
|
$ |
618.8 |
|
$ |
553.3 |
|
EBITDA Margin (1) |
|
|
|
74.2% |
|
|
73.4% |
|
|
|
76.3% |
|
|
72.1% |
|
Operating Profit |
|
|
$ |
80.2 |
|
$ |
82.4 |
|
|
$ |
341.6 |
|
$ |
321.6 |
|
Operating Profit Margin |
|
|
|
38.9% |
|
|
41.9% |
|
|
|
42.1% |
|
|
41.9% |
|
Depreciation and Amortization |
|
|
$ |
72.7 |
|
$ |
61.9 |
|
|
$ |
277.2 |
|
$ |
231.7 |
|
Capital Expenditures (3) |
|
|
$ |
133.4 |
|
$ |
316.7 |
|
|
$ |
956.4 |
|
$ |
921.7 |
|
|
NETWORK SYSTEMS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total Revenues |
|
|
$ |
386.5 |
|
$ |
402.6 |
|
|
$ |
1,384.7 |
|
$ |
1,076.7 |
|
EBITDA (1) |
|
|
$ |
(241.5) |
|
$ |
43.0 |
|
|
$ |
(178.1) |
|
$ |
52.6 |
|
EBITDA Margin (1) |
|
|
|
N/A |
|
|
10.7% |
|
|
|
N/A |
|
|
4.9% |
|
Operating Profit (Loss) |
|
|
$ |
(253.0) |
|
$ |
31.1 |
|
|
$ |
(227.3) |
|
$ |
10.9 |
|
Operating Profit Margin |
|
|
|
N/A |
|
|
7.7% |
|
|
|
N/A |
|
|
1.0% |
|
Depreciation and Amortization |
|
|
$ |
11.5 |
|
$ |
11.9 |
|
|
$ |
49.2 |
|
$ |
41.7 |
|
Capital Expenditures |
|
|
$ |
11.9 |
|
$ |
13.6 |
|
|
$ |
35.0 |
|
$ |
40.0 |
|
|
ELIMINATIONS and OTHER |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total Revenues |
|
|
$ |
(108.1) |
|
$ |
(61.7) |
|
|
$ |
(420.0) |
|
$ |
(179.5) |
|
EBITDA (1) |
|
|
$ |
(60.9) |
|
$ |
(48.7) |
|
|
$ |
(237.9) |
|
$ |
(138.4) |
|
Operating Loss |
|
|
$ |
(58.4) |
|
$ |
(60.3) |
|
|
$ |
(246.9) |
|
$ |
(147.3) |
|
Depreciation and Amortization |
|
|
$ |
(2.5) |
|
$ |
11.6 |
|
|
$ |
9.0 |
|
$ |
8.9 |
|
Capital Expenditures |
|
|
$ |
111.1 |
|
$ |
21.8 |
|
|
$ |
157.0 |
|
$ |
136.3 |
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TOTAL |
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|
|
|
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Total Revenues |
|
|
$ |
1,698.0 |
|
$ |
1,105.2 |
|
|
$ |
5,560.3 |
|
$ |
3,480.6 |
|
EBITDA (1) |
|
|
$ |
(174.4) |
|
$ |
69.2 |
|
|
$ |
222.7 |
|
$ |
341.7 |
|
EBITDA Margin (1) |
|
|
|
N/A |
|
|
6.3% |
|
|
|
4.0% |
|
|
9.8% |
|
Operating Loss |
|
|
$ |
(363.9) |
|
$ |
(41.3) |
|
|
$ |
(424.7) |
|
$ |
(42.9) |
|
Depreciation and Amortization |
|
|
$ |
189.5 |
|
$ |
110.5 |
|
|
$ |
647.4 |
|
$ |
384.6 |
|
Capital Expenditures |
|
|
$ |
519.9 |
|
$ |
452.8 |
|
|
$ |
1,665.3 |
|
$ |
1,328.8 |
* The Financial Statements reflect
the application of purchase accounting adjustments related to GM's acquisition
of Hughes. However, as provided in 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 exclude 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) EBITDA (Earnings Before Interest,
Taxes, Depreciation and Amortization) is the sum of operating profit (loss)
and depreciation and amortization. EBITDA margin is calculated by dividing
EBITDA by total revenues.
(2) Includes satellite expenditures
amounting to $46.9 million, $32.2 million, $136.0 million and $70.2 million,
respectively.
(3) Includes satellite expenditures
amounting to $124.0 million, $304.1 million, $532.8 million and $726.3 million,
respectively. Also included are expenditures related to the early buy-out
of satellite sale-leasebacks totaling $369.5 million and $155.5 million
for the years ended December 31, 1999 and 1998, respectively.
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