| (Dollars in Millions) |
| (Unaudited) |
|
|
Three Months |
| |
|
Ended March 31, |
| |
|
|
| |
|
2003 |
|
2002 |
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
| Direct broadcast, leasing and other services |
|
|
$2,081.8 |
|
$1,844.6 |
|
| Product sales |
|
|
|
|
|
|
|
145.5 |
|
180.2 |
|
| Total Revenues |
|
|
|
|
|
|
|
|
2,227.3 |
|
2,024.8 |
|
| Operating Costs and Expenses,
Exclusive of Depreciation and Amortization Expense Shown Below |
|
|
|
|
|
| Broadcast programming and other costs |
|
|
1,061.7 |
|
905.7 |
| Cost of products sold |
|
|
143.0 |
|
173.0 |
| Selling, general and administrative expenses |
|
|
717.6 |
|
781.6 |
| Depreciation and amortization |
|
|
|
|
|
263.1 |
|
252.2 |
|
| Total Operating Costs and Expenses |
|
|
|
|
|
|
|
|
2,185.4 |
|
2,112.5 |
|
| |
|
|
|
|
| Operating Profit (Loss) |
|
|
41.9 |
|
(87.7) |
|
| |
|
|
|
|
| Interest income |
|
|
6.2 |
|
4.3 |
| Interest expense |
|
|
(80.5) |
|
(76.3) |
| Other, net |
|
|
|
|
|
|
|
(28.1) |
|
(41.6) |
| Reorganization expense |
|
|
|
|
|
|
|
(6.9) |
|
- |
|
| Loss From Continuing Operations Before
Income Taxes, Minority Interests and Cumulative Effect of Accounting
Change |
|
(67.4) |
|
(201.3) |
| |
|
|
|
|
|
| Income tax benefit |
|
|
24.2 |
|
76.5 |
| Minority interests in net earnings of subsidiaries |
|
|
|
|
(7.4) |
|
(6.7) |
|
| Loss from continuing operations before cumulative
effect of accounting change |
|
|
|
|
(50.6) |
|
(131.5) |
| Loss from discontinued operations, net of
taxes |
|
|
|
|
(0.3) |
|
(24.9) |
|
| |
|
|
| Loss before cumulative effect of accounting
change |
|
|
(50.9) |
|
(156.4) |
| Cumulative effect of accounting change,
net of taxes |
|
|
|
- |
|
(681.3) |
|
| |
|
|
| Net Loss |
|
|
(50.9) |
|
(837.7) |
| Preferred stock dividends |
|
|
|
|
|
- |
|
(24.1) |
|
| |
|
|
|
|
| Loss Used for Computation of Available
Separate Consolidated Net Income (Loss) |
|
$(50.9) |
|
$(861.8) |
|
| |
|
|
|
|
| Available Separate Consolidated Net
Loss |
|
|
|
| Average number of shares of General Motors
Class H Common Stock outstanding (in millions) (Numerator) |
|
989.9 |
|
877.6 |
| Average Class H dividend base (in millions)
(Denominator) |
|
|
1,381.9 |
|
1,301.2 |
| Available Separate Consolidated Net Income
(Loss) |
|
|
|
|
$(36.5) |
|
$(581.2) |
|
