|
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND AVAILABLE SEPARATE CONSOLIDATED
NET INCOME (LOSS)
| (Dollars in Millions) |
|
|
| (Unaudited) |
|
|
|
|
|
|
Three Months |
|
Six
Months |
|
| |
|
|
|
Ended June 30, |
|
Ended June 30, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2003 |
|
2002 |
|
2003 |
|
2002 |
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Direct broadcast, leasing and other
services |
|
|
|
|
|
|
$2,186.1 |
|
$1,986.6 |
|
$4,267.9 |
|
$3,831.2 |
|
| Product sales |
|
|
|
|
|
|
|
|
|
|
|
184.6 |
|
205.7 |
|
330.1 |
|
385.9 |
|
|
|
| Total Revenues |
|
|
|
|
|
|
|
|
|
|
|
2,370.7 |
|
2,192.3 |
|
4,598.0 |
|
4,217.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
Costs and Expenses, Exclusive of Depreciation and |
|
|
|
| Amortization Expenses
Shown Separately Below |
|
|
|
|
|
|
|
|
| Broadcast programming and other costs |
|
|
|
|
|
|
1,075.3 |
|
1,080.1 |
|
2,137.0 |
|
1,985.8 |
|
| Cost of products sold |
|
|
|
|
|
|
169.8 |
|
184.7 |
|
312.8 |
|
357.7 |
|
| Selling, general and administrative
expenses |
|
|
|
|
|
|
720.9 |
|
775.9 |
|
1,438.5 |
|
1,557.5 |
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
264.7 |
|
250.3 |
|
527.8 |
|
502.5 |
|
|
|
| Total Operating Costs and
Expenses |
|
|
|
|
|
|
|
|
|
|
|
2,230.7 |
|
2,291.0 |
|
4,416.1 |
|
4,403.5 |
|
|
|
|
|
|
|
|
|
|
|
| Operating Profit (Loss) |
|
|
|
|
|
|
140.0 |
|
(98.7) |
|
181.9 |
|
(186.4) |
|
|
|
|
|
|
|
|
|
| Interest income |
|
|
|
|
|
|
15.7 |
|
7.4 |
|
21.9 |
|
11.7 |
|
| Interest expense |
|
|
|
|
|
|
(84.2) |
|
(121.4) |
|
(164.7) |
|
(197.7) |
|
| Reorganization expense |
|
|
|
|
|
|
(4.1) |
|
- |
|
(11.0) |
|
- |
|
| Other, net |
|
|
|
|
|
|
|
|
|
|
|
(10.5) |
|
8.9 |
|
(38.6) |
|
(32.7) |
|
|
|
|
|
|
| Income
(Loss) From Continuing Operations Before Income Taxes, Minority Interests |
|
|
| and Cumulative Effect
of Accounting Change |
56.9
|
|
(203.8) |
|
(10.5) |
|
(405.1) |
|
|
|
|
|
|
|
|
|
|
| Income tax (expense) benefit |
|
|
|
|
|
|
(20.5) |
|
77.5 |
|
3.7 |
|
154.0 |
|
| Minority interests in net earnings
of subsidiaries |
|
|
|
|
|
|
|
(7.4) |
|
(3.5) |
|
(14.8) |
|
(10.2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations
before cumulative effect of accounting change |
|
29.0 |
|
(129.8) |
|
(21.6) |
|
(261.3) |
|
| Loss from discontinued operations,
net of taxes |
|
|
|
|
|
|
|
(7.4) |
|
(25.3) |
|
(7.7) |
|
(50.2) |
|
|
|
|
|
|
|
|
|
|
|
|
| Income
(loss) before cumulative effect of accounting change |
|
|
|
|
21.6 |
|
(155.1) |
|
(29.3) |
|
(311.5) |
|
| Cumulative effect of accounting change,
net of taxes |
|
|
|
|
|
|
|
- |
|
- |
|
- |
|
(681.3) |
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) |
|
|
|
|
|
|
21.6
|
|
(155.1) |
|
(29.3) |
|
(992.8) |
|
|
|
|
|
|
|
|
|
|
| Preferred stock dividends |
|
|
|
|
|
|
|
|
|
- |
|
(22.8) |
|
- |
|
(46.9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings
(Loss) Used for Computation of Available Separate Consolidated |
|
|
|
|
|
| Net Income (Loss) |
|
|
|
|
|
|
|
|
|
|
$21.6 |
|
$(177.9) |
|
$(29.3) |
|
$(1,039.7) |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available Separate Consolidated
Net Income (Loss) |
|
|
|
|
|
|
|
|
| Average number of shares of General
Motors Class H |
|
|
|
|
|
|
|
|
| Common Stock outstanding (in
millions) (Numerator) |
|
|
|
|
1,107.8 |
|
884.0 |
|
1,048.8 |
|
880.8 |
|
| Average Class H dividend base (in
millions) (Denominator) |
|
|
|
|
1,382.1 |
|
1,307.6 |
|
1,382.0 |
|
1,304.4 |
|
| Available Separate Consolidated Net
Income (Loss) |
|
|
|
|
|
|
|
$17.3 |
|
$(120.3) |
|
$(22.2) |
|
$(702.1) |
|
|
|
All 2003 2Q Results
|
