| | | CONSOLIDATED STATEMENTS OF OPERATIONS AND AVAILABLE SEPARATE CONSOLIDATED NET INCOME (LOSS) | | | (Dollars in Millions)
(Unaudited) | | | | | | | | | |
Fourth Quarter
| | Twelve Months
Ended December 31,
| | | 2002 | | 2001 | | 2002 | | 2001 |
| | Revenues | | | | | | | | | Direct broadcast, leasing and other services | $2,195.6 | | $1,935.6 | | $8,031.0 | | $7,204.3 | | Product sales | 276.1 | | 346.0 | | 903.9 | | 1,059.7 |
| | Total Revenues | 2,471.7 | | 2,281.6 | | 8,934.9 | | 8,264.0 |
| | Operating Costs and Expenses, Exclusive of Depreciation and Amortization Expense Shown Below | | | | | | | | | Broadcast programming and other costs | 1,162.3 | | 944.3 | | 4,187.1 | | 3,335.3 | | Cost of products sold | 251.4 | | 309.8 | | 818.6 | | 900.2 | | Selling, general and administrative expenses | 886.4 | | 909.3 | | 3,256.8 | | 3,638.6 | | Depreciation and amortization | 277.0 | | 296.8 | | 1,067.1 | | 1,147.7 |
| | Total Operating Costs and Expenses | 2,577.1 | | 2,460.2 | | 9,329.6 | | 9,021.8 |
| | Operating Loss | (105.4) | | (178.6) | | (394.7) | | (757.8) | | | | | | | | | | | Interest income | 7.4 | | 4.5 | | 24.5 | | 56.7 | | Interest expense | (61.1) | | (61.9) | | (336.2) | | (195.9) | | Other, net | 379.5 | | (2.7) | | 425.5 | | (92.7) |
| | Income (Loss) Before Income Taxes, Minority Interests, and Cumulative Effect of Accounting Change | | | | | | | | | 220.4 | | (238.7) | | (280.9) | | (989.7) | | | | | | | | | | | Income tax (expense) benefit | (97.8) | | 107.8 | | 92.7 | | 325.6 | | Minority interests in net (earnings) losses of subsidiaries | (7.3) | | (1.7) | | (21.6) | | 49.9 |
| | | | | | | | | | | Income (Loss) before cumulative effect of accounting changes | 115.3 | | (132.6) | | (209.8) | | (614.2) | | Cumulative effect of accounting change, net of taxes | - | | - | | (681.3) | | (7.4) | | | | | | | | | |
| | Net Income (Loss) | 115.3 | | (132.6) | | (891.1) | | (621.6) | | | | | | | | | | | Adjustment to exclude the effect of GM purchase accounting | - | | 0.8 | | - | | 3.3 |
| | Income (Loss) Excluding the Effect of GM Purchase Accounting | 115.3 | | (131.8) | | (891.1) | | (618.3) | | | | | | | | | | | Preferred stock dividends | - | | (24.1) | | (46.9) | | (96.4) |
| | Income (Loss) Used for Computation of Available | | | | | | | | | Separate Consolidated Net Income (Loss) | $115.3 | | $(155.9) | | $(938.0) | | $(714.7) |
| | Available Separate Consolidated Net Income (Loss) | | | | | | | | | | | | | | | | | | Average number of shares of General Motors Class H Common Stock outstanding (in millions) (Numerator) | 958.2 | | 877.3 | | 919.5 | | 876.3 | | Average Class H dividend base (in millions) (Denominator) | 1,381.8 | | 1,300.9 | | 1,343.1 | | 1,300.0 | | Available Separate Consolidated Net Income (Loss) | $80.0 | | $(105.1) | | $(642.2) | | $(481.8) |
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