2002 Results :  3Q Consolidated Net Loss
CONSOLIDATED STATEMENTS OF OPERATIONS AND AVAILABLE SEPARATE CONSOLIDATED NET INCOME (LOSS)
(Dollars in Millions)
(Unaudited)

Third Quarter
Six Months
Ended September30,
2002 2001 2002 2001

Revenues
Direct broadcast, leasing and other services $1,972.3 $1,830.9 $5,834.3 $5,267.7
Product sales 241.9 272.4 627.8 713.7

Total Revenues 2,214.2 2,103.3 6,462.1 5,981.4

Operating Costs and Expenses, Exclusive of Depreciation and Amortization Expense Shown Below
Broadcast programming and other costs 957.2 830.1 2,939.3 2,355.4
Cost of products sold 209.5 246.7 567.2 590.4
Selling, general and administrative expenses 804.0 950.0 2,454.8 2,763.9
Depreciation and amortization 266.5 280.2 790.1 850.9

Total Operating Costs and Expenses 2,237.2 2,307.0 6,751.4 6,560.6

Operating Loss (23.0) (203.7) (289.3) (579.2)
Interest income 5.4 9.4 17.1 52.2
Interest expense (76.4) (40.6) (275.1) (134.0)
Other, net 78.7 (86.3) 46.0 (90.0)

Loss Before Income Taxes, Minority Interests, and Cumulative Effect of Accounting Change
(15.3) (321.2) (501.3) (751.0)
Income tax benefit 5.8 93.1 190.5 217.8
Minority interests in net (earnings) losses of subsidiaries (4.1) 0.9 (14.3) 51.6

Loss before cumulative effect of accounting change (13.6) (227.2) (325.1) (481.6)
Cumulative effect of accounting change - - - (7.4)

Net Loss (13.6) (227.2) (325.1) (489.0)
Adjustment to exclude the effect of GM purchase accounting - 0.9 - 2.5

Loss Excluding the Effect of GM Purchase Accounting (13.6) (226.3) (325.1) (486.5)
Preferred stock dividends - (24.1) (46.9) (72.3)

Loss Used for Computation of Available
Separate Consolidated Net Income (Loss) $(13.6) $(250.4) $(372.0) $(558.8)

Available Separate Consolidated Net Income (Loss)
 
Average number of shares of General Motors Class H Common Stock outstanding (in millions) (Numerator) 958.1 876.8 906.6 876.0
Average Class H dividend base (in millions) (Denominator) 1,381.7 1,300.5 1,330.2 1,299.7
Available Separate Consolidated Net Income (Loss) $(9.4) $(168.8) $(253.5) $(376.6)

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