| CONSOLIDATED STATEMENTS OF OPERATIONS AND AVAILABLE SEPARATE CONSOLIDATED NET INCOME (LOSS) |
| |
(Dollars in Millions)
(Unaudited) | | | | | | | |
| |
Second Quarter
| | Six Months
Ended June 30,
|
| | 2001 | | 2000 | | 2001 | | 2000 |
|
| Revenues | | | | | | | |
| Direct broadcast, leasing and other services | $1,738.6 | | $1,565.4 | | $3,436.8 | | $3,037.8 |
| Product sales | 246.5 | | 271.6 | | 441.3 | | 502.3 |
|
| Total Revenues | 1,985.1 | | 1,837.0 | | 3,878.1 | | 3,540.1 |
|
| Operating Costs and Expenses | | | | | | | |
| Broadcast programming and other costs | 786.6 | | 686.7 | | 1,525.3 | | 1,354.5 |
| Cost of products sold | 189.2 | | 245.9 | | 343.7 | | 434.4 |
| Selling, general and administrative expenses | 927.3 | | 724.8 | | 1,813.9 | | 1,418.9 |
| Depreciation and amortization | 305.0 | | 224.6 | | 570.7 | | 434.8 |
|
| Total Operating Costs and Expenses | 2,208.1 | | 1,882.0 | | 4,253.6 | | 3,642.6 |
|
| Operating Loss | (223.0) | | (45.0) | | (375.5) | | (102.5) |
| | | | | | | | |
| Interest income | 19.0 | | 4.3 | | 42.8 | | 8.2 |
| Interest expense | (42.8) | | (57.8) | | (93.4) | | (102.7) |
| Other, net | (10.9) | | (43.3) | | (3.7) | | (282.5) |
|
| Loss From Continuing Operations Before Income Taxes, | | | | | | | |
Minority Interests, and Cumulative Effect of Accounting
Change | (257.7) | | (141.8) | | (429.8) | | (479.5) |
| | | | | | | | |
| Income tax benefit | 74.8 | | 54.8 | | 124.7 | | 276.6 |
| Minority interests in net losses of subsidiaries | 26.4 | | 4.5 | | 50.7 | | 12.1 |
|
| | | | | | | | |
| Loss from continuing operations before cumulative effect of accounting change | (156.5) | | (82.5) | | (254.4) | | (190.8) |
| | | | | | | | |
| Income from discontinued operations, net of taxes | - | | 13.4 | | - | | 39.8 |
|
| Loss before cumulative effect of accounting change | (156.5) | | (69.1) | | (254.4) | | (151.0) |
| Cumulative effect of accounting change, net of taxes | - | | - | | (7.4) | | - |
|
| Net Loss | (156.5) | | (69.1) | | (261.8) | | (151.0) |
| | | | | | | | |
| Adjustment to exclude the effect of GM purchase | | | | | | | |
| accounting | 0.8 | | 5.3 | | 1.6 | | 10.6 |
|
| Loss Excluding the Effect of GM | | | | | | | |
| Purchase Accounting Adjustment | (155.7) | | (63.8) | | (260.2) | | (140.4) |
| | | | | | | | |
| Preferred stock dividends | (24.1) | | (24.1) | | (48.2) | | (48.8) |
|
| Loss Used for Computation of Available | | | | | | | |
| Separate Consolidated Net Income (Loss) | $(179.8) | | $(87.9) | | $(308.4) | | $(189.2) |
|
| Available Separate Consolidated Net Income (Loss) | | | | | | | |
| Average number of shares of General Motors Class H | | | | | | | |
| Common Stock outstanding (in millions) (Numerator) | 875.9 | | 562.7 | | 875.7 | | 488.0 |
| Average Class H dividend base (in millions) (Denominator) | 1,299.6 | | 1,297.0 | | 1,299.4 | | 1,295.8 |
| Available Separate Consolidated Net Income (Loss) | $(121.2) | | $(38.1) | | $(207.8) | | $(71.3) |
|
