|
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND AVAILABLE SEPARATE CONSOLIDATED
NET INCOME (LOSS)
| (Dollars in Millions) |
|
|
| (Unaudited) |
|
|
|
|
|
|
Three Months |
|
Nine
Months |
|
| |
|
|
|
Ended September 30, |
|
Ended September 30, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2003 |
|
2002 |
|
2003 |
|
2002 |
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Direct broadcast, leasing and other
services |
|
|
|
|
|
|
$2,311.8 |
|
$1,952.8 |
|
$6,579.7 |
|
$5,784.0 |
|
| Product sales |
|
|
|
|
|
|
|
|
|
|
|
258.4 |
|
241.9 |
|
588.5 |
|
627.8 |
|
|
|
| Total Revenues |
|
|
|
|
|
|
|
|
|
|
|
2,570.2 |
|
2,194.7 |
|
7,168.2 |
|
6,411.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
Costs and Expenses, Exclusive of Depreciation and |
|
|
|
| Amortization Expenses
Shown Separately Below |
|
|
|
|
|
|
|
|
| Broadcast programming and other costs |
|
|
|
|
|
|
1,186.9 |
|
965.1 |
|
3,323,9 |
|
2,950.9 |
|
| Cost of products sold |
|
|
|
|
|
|
234.7 |
|
209.5 |
|
547.5 |
|
567.2 |
|
| Selling, general and administrative
expenses |
|
|
|
|
|
|
789.8 |
|
750.3 |
|
2,228.3 |
|
2,307.8 |
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
282.3 |
|
253.8 |
|
810.1 |
|
756.3 |
|
|
|
| Total Operating Costs and
Expenses |
|
|
|
|
|
|
|
|
|
|
|
2,493.7 |
|
2,178.7 |
|
6,909.8 |
|
6,582.2 |
|
|
|
|
|
|
|
|
|
|
|
| Operating Profit (Loss) |
|
|
|
|
|
|
76.5 |
|
16.0 |
|
258.4 |
|
(170.4) |
|
|
|
|
|
|
|
|
|
| Interest income |
|
|
|
|
|
|
10.6 |
|
5.4 |
|
32.5 |
|
17.1 |
|
| Interest expense |
|
|
|
|
|
|
(76.3) |
|
(76.1) |
|
(241.0) |
|
(273.8) |
|
| Reorganization expense |
|
|
|
|
|
|
(8.2) |
|
- |
|
(19.2) |
|
- |
|
| Other, net |
|
|
|
|
|
|
|
|
|
|
|
0.6 |
|
78.7 |
|
(38.0) |
|
46.0 |
|
|
|
|
|
|
| Income
(Loss) From Continuing Operations Before Income Taxes, Minority Interests |
|
|
| and Cumulative Effect
of Accounting Changes |
3.2
|
|
24.0 |
|
(7.3) |
|
(381.1) |
|
|
|
|
|
|
|
|
|
|
| Income tax (expense) benefit |
|
|
|
|
|
|
44.3 |
|
(9.2) |
|
48.0 |
|
144.8 |
|
| Minority interests in net earnings
of subsidiaries |
|
|
|
|
|
|
|
(6.0) |
|
(4.1) |
|
(20.8) |
|
(14.3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations
before cumulative effect of accounting changes |
|
41.5 |
|
10.7 |
|
19.9 |
|
(250.6) |
|
| Loss from discontinued operations,
net of taxes |
|
|
|
|
|
|
|
0.1 |
|
(24.3) |
|
(7.6) |
|
(74.5) |
|
|
|
|
|
|
|
|
|
|
|
|
| Income
(loss) before cumulative effect of accounting changes |
|
|
|
|
41.6 |
|
(13.6) |
|
12.3 |
|
(325.1) |
|
| Cumulative effect of accounting change,
net of taxes |
|
|
|
|
|
|
|
(64.6) |
|
- |
|
(64.6) |
|
(681.3) |
|
|
|
|
|
|
|
|
|
|
|
| Net Loss |
|
|
|
|
|
|
(23.0)
|
|
(13.6) |
|
(52.3) |
|
(1,006.4) |
|
|
|
|
|
|
|
|
|
|
| Preferred stock dividends |
|
|
|
|
|
|
|
|
|
- |
|
- |
|
- |
|
(46.9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
Used for Computation of Available Separate Consolidated |
|
|
|
|
|
| Net Income (Loss) |
|
|
|
|
|
|
|
|
|
|
$(23.0) |
|
$(13.6) |
|
$(52.3) |
|
$(1,053.3) |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available Separate Consolidated
Net Income (Loss) |
|
|
|
|
|
|
|
|
| Average number of shares of General
Motors Class H |
|
|
|
|
|
|
|
|
| Common Stock outstanding (in
millions) (Numerator) |
|
|
|
|
1,108.4 |
|
958.1 |
|
1,068.7 |
|
906.6 |
|
| Average Class H dividend base (in
millions) (Denominator) |
|
|
|
|
1,382.8 |
|
1,381.7 |
|
1,382.2 |
|
1,330.2 |
|
| Available Separate Consolidated Net
Income (Loss) |
|
|
|
|
|
|
|
$(18.4) |
|
$(9.4) |
|
$(40.4) |
|
$(717.9) |
|
|
|
|
