Consolidated Statements of Oper
Consolidated Statements of Operations (USD $) | ||||
In Millions | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
Revenues | $4,703 | $4,324 | $13,545 | $12,569 |
Costs of revenues, exclusive of depreciation and amortization expense | ||||
Broadcast programming and other | 1,998 | 1,841 | 5,668 | 5,216 |
Subscriber service expenses | 338 | 296 | 946 | 839 |
Broadcast operations expenses | 70 | 71 | 206 | 197 |
Selling, general and administrative expenses, exclusive of depreciation and amortization expense | ||||
Subscriber acquisition costs | 621 | 565 | 1,871 | 1,602 |
Upgrade and retention costs | 266 | 260 | 785 | 724 |
General and administrative expenses | 231 | 231 | 659 | 656 |
Depreciation and amortization expense | 568 | 528 | 1,750 | 1,493 |
Total operating costs and expenses | 4,092 | 3,792 | 11,885 | 10,727 |
Operating profit | 611 | 532 | 1,660 | 1,842 |
Interest income | 1 | 9 | 4 | 31 |
Interest expense | (85) | (94) | (254) | (222) |
Other, net | (19) | 1 | (13) | 2 |
Income before income taxes | 508 | 448 | 1,397 | 1,653 |
Income tax expense | (197) | (182) | (539) | (653) |
Net income | $311 | $266 | $858 | $1,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets (USD $) | ||
In Millions | Sep. 30, 2009
| Dec. 31, 2008
|
Current assets | ||
Cash and cash equivalents | $2,381 | $1,149 |
Accounts receivable, net of allowances of $46 and $32 | 1,304 | 1,308 |
Inventories | 223 | 182 |
Deferred income taxes | 12 | 46 |
Prepaid expenses and other | 324 | 261 |
Total current assets | 4,244 | 2,946 |
Satellites, net | 1,891 | 1,980 |
Property and equipment, net | 3,116 | 3,348 |
Goodwill | 3,167 | 3,189 |
Intangible assets, net | 623 | 871 |
Other assets | 204 | 212 |
Total assets | 13,245 | 12,546 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 2,437 | 2,582 |
Unearned subscriber revenues and deferred credits | 454 | 316 |
Current portion of long-term debt | 572 | 108 |
Total current liabilities | 3,463 | 3,006 |
Long-term debt | 6,591 | 5,725 |
Deferred income taxes | 480 | 405 |
Other liabilities and deferred credits | 671 | 763 |
Owners' equity | ||
Capital stock and additional paid-in capital | 2,060 | 2,403 |
Retained earnings (Accumulated deficit) | (20) | 244 |
Total owner's equity | 2,040 | 2,647 |
Total liabilities and owner's equity | $13,245 | $12,546 |
Consolidated Balance Sheets [Pa
Consolidated Balance Sheets [Parentheticals] (USD $) | ||
In Millions | Sep. 30, 2009
| Dec. 31, 2008
|
Consolidated Balance Sheets [Parentheticals] | ||
Allowance for Doubtful Accounts | $46 | $32 |
Statement of Cash Flows
Statement of Cash Flows (USD $) | ||
In Millions | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
Cash Flows From Operating Activities | ||
Net income | $858 | $1,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization expense | 1,750 | 1,493 |
Amortization of deferred revenues and deferred credits | (38) | (75) |
Share-based compensation expense | 31 | 31 |
Deferred income taxes | 182 | 36 |
Other | 15 | 10 |
Change in other operating assets and liabilities: | ||
Accounts receivable, net | 53 | 139 |
Inventories | (33) | (35) |
Prepaid expenses and other | (62) | (17) |
Accounts payable and accrued liabilities | (196) | (431) |
Unearned subscriber revenue and deferred credits | 134 | 121 |
Other, net | (64) | 58 |
Net cash provided by operating activities | 2,630 | 2,330 |
Cash Flows From Investing Activities | ||
Cash paid for property and equipment | (336) | (343) |
Cash paid for subscriber leased equipment - subscriber acquisitions | (445) | (432) |
Cash paid for subscriber leased equipment - upgrade and retention | (321) | (373) |
Cash paid for satellites | (40) | (92) |
Investment in companies, net of cash acquired | (11) | (97) |
Other | 0 | 4 |
Net cash used in investing activities | (1,153) | (1,333) |
Cash Flows From Financing Activities | ||
Cash proceeds from debt issuance | 1,990 | 2,490 |
Debt issuance costs | (12) | (19) |
Repayment of long-term debt | (661) | (35) |
Repayment of other long-term obligations | (66) | (79) |
Cash dividends to Parent | (1,500) | (2,600) |
Excess tax benefit from share-based compensation | 4 | 7 |
Net cash used in financing activities | (245) | (236) |
Net increase in cash and cash equivalents | 1,232 | 761 |
Cash and cash equivalents at beginning of the period | 1,149 | 802 |
Cash and cash equivalents at end of the period | 2,381 | 1,563 |
Supplemental Cash Flow Information | ||
Cash paid for interest | 224 | 175 |
Cash paid for income taxes | $375 | $585 |
Basis of Presention
Basis of Presention | |
9 Months Ended
Sep. 30, 2009 | |
Basis of Presention [Abstract] | |
Basis of Presention | Note1: Basis of Presentation DIRECTV HoldingsLLC is a whollyowned subsidiary of The DIRECTV Group,Inc. and consists of DIRECTV Enterprises,LLC and its whollyowned subsidiaries and DIRECTV FinancingCo.,Inc. We sometimes refer to DIRECTV HoldingsLLC as DIRECTV Holdings, DIRECTV, we or us and sometimes refer to The DIRECTV Group,Inc. as The DIRECTV Group or Parent. On February27, 2008, Liberty Media Corporation, or Liberty Media, and News Corporation completed a transaction in which Liberty Media acquired News Corporations approximately 41% interest in our Parent. Currently, Liberty Media owns approximately 57% of our Parents outstanding common stock, however Liberty Media has agreed generally to limit its voting rights to approximately 47.9%. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial reporting. In the opinion of management, all adjustments (consisting only of normal recurring items) that are necessary for a fair presentation have been included. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. For further information, refer to the consolidated financial statements and footnotes thereto included in our Annual Report on Form10-K for the year ended December31, 2008 filed with the SEC on February27, 2009, our Quarterly Report on Form10-Q for the quarter ended March31, 2009 filed with the SEC on May8, 2009 and for the quarter ended June 30, 2009 filed with the SEC on August 7, 2009 and all of our other filings, including Current Reports on Form8-K, filed with the SEC after such date and through the date of this report. |
Liberty Entertainment Inc. Merg
Liberty Entertainment Inc. Merger Transaction | |
9 Months Ended
Sep. 30, 2009 | |
Liberty Entertainment Inc. Merger Transaction [Abstract] | |
Liberty Entertainment Inc. Merger Transaction | Note2: Liberty EntertainmentInc. Merger Transaction On May3, 2009, The DIRECTV Group, Liberty Media, Liberty Entertainment,Inc., or LEI and certain subsidiaries of The DIRECTV Group entered into an agreement and plan of merger, which we refer to as the merger agreement, which, if consummated, will result in the creation of a new public holding company named DIRECTV which we refer to as Holdings, that will own The DIRECTV Group and LEI. Holdings will be owned by the holders of The DIRECTV Group common stock and the holders of LEI common stock immediately prior to the mergers contemplated by the merger agreement. As a necessary step to the mergers contemplated by the merger agreement, Liberty Media is planning to execute a split-off transaction that would result in the redemption of 90% of the outstanding shares of both series of its Liberty Entertainment common stock in exchange for all of the outstanding shares of two series of common stock of LEI. LEI will hold Liberty Medias entire interest in The DIRECTV Group (currently approximately 57%), 100% of Liberty Sports HoldingsLLC, 65% of Game Show Network,LLC and approximately $80million in cash and cash equivalents, together with approximately $2billion of indebtedness and a related equity collar. The split-off transaction is conditioned on the approval of the holders of Libertys Liberty Entertainment common stock. The merger agreement provides for two mergers that would result in The DIRECTV Group and LEI becoming wholly owned subsidiaries of Holdings. In the DIRECTV merger, The DIRECTV Group common stockholders (other than direct or indirect subsidiaries of LEI) will receive one share of Holdings ClassA common stock for each share of common stock of The DIRECTV Group that they own. In the LEI merger, holders of outstanding shares of LEI SeriesA common stock and LEI SeriesB common stock (other than LEI or Holdings) will receive a number of shares of Holdings ClassA common stock equal to the LEI exchange ratio for each share of LEI common stock that they own. The LEI exchange ratio is a fixed exchange ratio equal to 1.11111 shares of Holdings common stock for each share of LEI common stock, subject to certain adjustments as provided in the merger agreement. After completion of the split-off, John C. Malone (the Chairman of The DIRECTV Group and Liberty Media), his wife and certain trusts for the benefit of their children, collectively the Malones, will own approximately 92% of the LEI SeriesB common stock. Immediately prior to the mergers, the Malones, pursuant to a voting and right of first refusal agreement, will exchange each of their shares of LEI SeriesB common stock for a number of shares of Holdings ClassB common stock equal to the number of shares of LEI SeriesB common stock multiplied by the LEI exchange ratio. Holdings ClassB common stock will have fifteen votes per share and certain limited consent rights and will not be publicly traded, and Holdings ClassA common stock will have one vote per share and is expected to be listed on the NASDAQ National Market System. Upon completion of the mergers, the Malones will be the only holders of Holdings ClassB common stock. Holder |
Accounting Changes and New Acco
Accounting Changes and New Accounting Standards | |
9 Months Ended
Sep. 30, 2009 | |
Accounting Changes and New Accounting Standards [Abstract] | |
Accounting Changes and New Accounting Standards | Note3: Accounting Changes and New Accounting Standards Accounting Changes On January1, 2009 we adopted new accounting standards for the accounting and reporting of noncontrolling interests in subsidiaries, also known as minority interests, in consolidated financial statements. The new standards also provide guidance on accounting for changes in the parents ownership interest in a subsidiary and establishes standards of accounting for the deconsolidation of a subsidiary due to the loss of control. Reporting entities must now present certain noncontrolling interests as a component of equity and present net income and consolidated comprehensive income attributable to the parent and the noncontrolling interest separately in the consolidated financial statements. These new standards are required to be applied prospectively, except for the presentation and disclosure requirements, which must be applied retrospectively for all periods presented. Our adoption of these changes did not have any effect on our consolidated financial statements. On January1, 2009 we adopted a new business combination accounting standard that requires the acquiring entity in a business combination to record 100% of all assets and liabilities acquired, including goodwill and any non-controlling interest, generally at their fair values for all business combinations, whether partial, full or step acquisitions. Under the new standard, certain contingent assets and liabilities, as well as contingent consideration, are also required to be recognized at fair value on the date of acquisition and acquisition-related transaction and restructuring costs will be expensed. Additionally, disclosures are required describing the nature and financial effect of the business combination and the standard also changes the accounting for certain income tax assets recorded in purchase accounting. The adoption of the new accounting requirements as required, on January1, 2009, changed the way we account for adjustments to deferred tax asset valuation allowances recorded in purchase accounting for prior business combinations so that adjustments to these deferred tax asset valuation allowances will no longer be recorded to goodwill but rather adjustments will be recorded in Income tax expense in the Consolidated Statements of Operations. Additionally, the adoption of the new accounting guidance changed the accounting for all business combinations we consummate after January1, 2009. New Accounting Standards In June 2009, the Financial Accounting Standards Board, or FASB, issued revisions to consolidation accounting standards for variable interest entities, or VIEs. The new standard replaces the quantitative-based risks and rewards calculation for determining which enterprise, if any, has a controlling financial interest in a variable interest entity. Instead, the new approach is qualitative and focused on identifying which enterprise has the power to direct the activities of a VIE that most significantly impact the entitys performance and (1) the obligation to absorb the losses of an entity or (2) the right to receive benefits from the entity. As a result of the changed requirements, i |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | |
9 Months Ended
Sep. 30, 2009 | |
Goodwill and Intangible Assets [Abstract] | |
Goodwill and Intangible Assets | Note4: Goodwill and Intangible Assets The changes in the carrying amounts of goodwill for the nine months ended September30, 2009 were as follows: (Dollars in Millions) Balance as of December31, 2008..................................................................... $3,189 Purchase or acquisition accounting adjustments: New acquisitions............................................................................................... 24 Finalization of prior acquisitions.................................................................... (46) Balance as of September30, 2009.................................................................... $3,167 The following table sets forth the amounts recorded for intangible assets as of the periods presented: Estimated Useful September30, 2009 December31, 2008 Lives (years) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount (Dollars in Millions) Orbital slots................................ Indefinite $432 $432 $432 $432 72.5 WL Orbital license.......... 5 219 $209 10 219 $180 39 Subscriber related...................... 5-10 1,348 1,292 56 1,348 1,116 232 Dealer network.......................... 15 130 86 44 130 79 51 Distribution rights...................... 7 334 253 81 334 217 117 Total intangible assets......... $2,463 $1,840 $623 $2,463 $1,592 $871 The following table sets forth amortization expense for intangible assets for each of the periods presented: Three Months Ended September30, Nine Months Ended September30, 2009 2008 2009 2008 (Dollars in Millions) Amortization expense........................................................ $72 $88 $248 $264 Estimated amortization expense for intangible assets in each of the next five years and thereafter is as follows: $41million for the remainder of 2009, $90million in 2010, $34million in 2011, $10million in 2012, $10million in 2013 and $6million thereafter. |
Borrowings
Borrowings | |
9 Months Ended
Sep. 30, 2009 | |
Borrowings [Abstract] | |
Borrowings | Note5: Borrowings The following table sets forth our outstanding borrowings: Interest Rates at September30, 2009 September30, 2009 December31, 2008 (Dollars in Millions) 8.375% senior notes due in 2013......................................................................................... 8.375% $327 $910 4.750% senior notes due in 2014, net of unamortized discount of $3million as of September30, 2009........................................................................................................... 4.750% 997 6.375% senior notes due in 2015......................................................................................... 6.375% 1,000 1,000 7.625% senior notes due in 2016......................................................................................... 7.625% 1,500 1,500 5.875% senior notes due in 2019, net of unamortized discount of $7million as of September30, 2009........................................................................................................... 5.875% 993 Senior secured credit facility, net of unamortized discount of $7million as of September30, 2009 and $9million as of December31,2008.................................. 3.090% 2,344 2,421 Unamortized bond premium................................................................................................. 2 2 Total debt............................................................................................................................. 7,163 5,833 Less: Current portion of long-term debt.............................................................................. (572) (108) Long-term debt.................................................................................................................... $6,591 $5,725 The senior secured credit facility is secured by substantially all of our assets. The 8.375% senior notes, 6.375% senior notes and the 7.625% senior notes have been registered under the Securities Act of 1933, as amended, are unsecured and have been fully and unconditionally guaranteed, jointly and severally, by substantially all of our subsidiaries. Principal on the senior notes is payable upon maturity, while interest is payable semi-annually. 2009 Financing Transactions On September 22, 2009, we issued $1,000million in five-year 4.750% senior notes due in 2014 at a 0.3% discount resulting in $997 million of proceeds and $1,000million in 10 year 5.875% senior notes due in 2019 at a 0.7% discount resulting in $993 million of proceeds in private placement transactions. Principal on these senior notes is payable upon maturity, while interest is payable semi-annually commencing April 1, 2010. We incurred $14million of debt issuance costs in connection with these transactions. The senior notes have been fully and unconditionally guaranteed, jointly and severally, by substantially all of our current and certain of our future domestic subsidiaries on a senior unsecured basis. Pursuant to a registration rights agreement with the initia |
Commitments and Contingencies
Commitments and Contingencies | |
9 Months Ended
Sep. 30, 2009 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note6: Commitments and Contingencies Commitments At September30, 2009, our minimum payments under agreements to purchase broadcast programming, and the purchase of services that we have outsourced to third parties, such as billing services, and satellite telemetry, tracking and control, satellite construction and launch contracts and broadcast center services aggregated $8,539million, payable as follows: $455million in the remainder of 2009, $1,606million in 2010, $1,625million in 2011, $1,751million in 2012, $1,357million in 2013 and $1,745million thereafter. Contingencies Litigation Litigation is subject to uncertainties and the outcome of individual litigated matters is not predictable with assurance. Various legal actions, claims and proceedings are pending against us arising in the ordinary course of business. We have established loss provisions for matters in which losses are probable and can be reasonably estimated. Some of the matters may involve compensatory, punitive, or treble damage claims, or demands that, if granted, could require us to pay damages or make other expenditures in amounts that could not be estimated at September30, 2009. After discussion with counsel representing us in those actions, it is the opinion of management that such litigation is not expected to have a material adverse effect on our consolidated results of operations or financial position. Finisar Corporation. As previously reported, we filed a notice of appeal to the Court of Appeals for the Federal Circuit on October5, 2006 from a jury determination that The DIRECTV Group,Inc. and certain of its subsidiaries willfully infringed a patent owned by Finisar Corporation and awards of approximately $117million in damages and pre-judgment interest. DIRECTV was also ordered to pay into escrow $1.60 per new set-top receiver manufactured for use with the DIRECTV system beginning June17, 2006 and continuing until the patent expires in 2012 or was otherwise found to be invalid. On April18, 2008, the Court of Appeals vacated (set aside) the verdict of infringement, and sent the case back to the district court for further proceedings and possible retrial on a limited number of claims. On remand, we sought and obtained summary judgment of invalidity of all remaining claims, and the case against DIRECTV was dismissed on May19, 2009. Finisar has filed a Notice of Appeal, and a briefing schedule for the new appeal has been set. Satellites We may purchase in-orbit and launch insurance to mitigate the potential financial impact of satellite launch and in-orbit failures if the premium costs are considered economic relative to the risk of satellite failure. The insurance generally covers the unamortized book value of covered satellites. We do not insure against lost revenues in the event of a total or partial loss of the capacity of a satellite. We generally rely on in-orbit spare satellites and excess transponder capacity at key orbital slots to mitigate the impact a satellite failure could have on our ability to provide service. At September30, 2009, the net book value of in-orbit satellites was $1,559million, all of which was uninsured. Subsequent Event |
Related Party Transactions
Related Party Transactions | |
9 Months Ended
Sep. 30, 2009 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note7: Related Party Transactions As discussed in more detail above in Note2 of the Notes to the Consolidated Financial Statements, in May 2009, The DIRECTV Group, Liberty Media, LEI and certain subsidiaries of The DIRECTV Group entered into an agreement and plan of merger, as amended in July and October 2009. In addition, in the ordinary course of our operations, we enter into transactions with related parties as discussed below. The DIRECTV Group and affiliates We determine our income taxes based upon our tax sharing agreement with The DIRECTV Group, which generally provides that the current income tax liability or receivable be computed as if we were a separate taxpayer. Payments made to our Parent under this tax sharing arrangement were $352million for the nine months ended September30, 2009 and $564million for the nine months ended September30, 2008. We also receive an allocation of employee benefit expenses from The DIRECTV Group. We believe that our consolidated financial statements reflect our cost of doing business in accordance with accounting guidance for the allocation of expenses for subsidiaries. We paid cash dividends to our Parent in the amounts of $1,500million during the nine months ended September30, 2009 and $2,600million during the nine months ended September30, 2008. Liberty Media, Liberty Global and Discovery Communications As a result of Liberty Medias acquisition of an ownership interest in The DIRECTV Group, beginning February27, 2008, transactions with Liberty Media and its affiliates, including its equity method investees may be considered to be related party transactions as Liberty Media currently owns approximately 57% of our Parents outstanding common stock. Our transactions with Liberty Media and its affiliates consist primarily of the purchase of programming. In addition, John Malone, Chairman of the Board of Directors of our Parent and of Liberty Media, has, as reported in their respective public filings, an approximate 31% voting interest in Discovery Communications,Inc., or Discovery Communications, and an approximate 40% voting interest in Liberty GlobalInc., or Liberty Global, and serves as Chairman of Liberty Global, and certain of Liberty Medias management and directors also serve as directors of Discovery Communications or Liberty Global. As a result of this common ownership and management, transactions with Discovery Communications and Liberty Global, and their subsidiaries or equity method investees may be considered to be related party transactions. Our transactions with Discovery Communications and Liberty Global consist primarily of purchases of programming created, owned or distributed by Discovery Communications and its subsidiaries and investees. News Corporation and affiliates News Corporation and its affiliates were considered related parties until February27, 2008, when News Corporation transferred its 41% interest in our Parents common stock to Liberty Media. Accordingly, the following contractual arrangements with News Corporation and its affiliates were considered related party transactions and reported through February27, 2008: purchase of programming, products and ad |
Acquisitions
Acquisitions | |
9 Months Ended
Sep. 30, 2009 | |
Acquisitions [Abstract] | |
Acquisitions | Note8: Acquisitions Home Services Providers 180 Connect. On July8, 2008, we acquired 100% of 180 ConnectInc.s outstanding common stock and exchangeable shares. Simultaneously, in a separate transaction, UniTek USA,LLC acquired 100% of 180 Connects cable service operating unit and operations in certain of our installation services markets in exchange for satellite installation operations in certain markets and $7million in cash. These transactions provide us with control over a significant portion of DIRECTV U.S. home service provider network. We paid $91million in cash, net of the $7million we received from UniTek USA, for the acquisition, including the equity purchase price, repayment of assumed debt and related transaction costs. We accounted for the 180 Connect acquisition using the purchase method of accounting, and began consolidating the results from the date of acquisition. The September30, 2009 consolidated financial statements reflect the final allocation of the $91million net purchase price to assets acquired and the liabilities assumed based on their estimated fair values at the date of acquisition using information currently available. The assets acquired included approximately $5million in cash. The excess of the purchase price over the estimated fair values of the net assets has been recorded as goodwill. We currently expect that $28 million of the recorded goodwill will be deductible for tax purposes. The following table sets forth the final allocation of the purchase price to the 180 Connect net assets acquired on July8, 2008 (dollars in millions): Total current assets...................................................................................................................... $18 Property and equipment............................................................................................................. 16 Goodwill......................................................................................................................................... 97 Investments and other assets..................................................................................................... 51 Total assets acquired................................................................................................................... $182 Total current liabilities................................................................................................................. $83 Other liabilities.............................................................................................................................. 8 Total liabilities assumed.............................................................................................................. $91 Net assets acquired.................................................................................................................. $91 The following selected unaudited pro forma information is being provided to present a summary of the combined results of us and 180 Connect for the three and nine months ended September30, 2008 as if the acquisition had occurred as of t |
Condensed Consolidating Financi
Condensed Consolidating Financial Statements | |
9 Months Ended
Sep. 30, 2009 | |
Condensed Consolidating Financial Statements [Abstract] | |
Condensed Consolidating Financial Statements | Note9: Condensed Consolidating Financial Statements The following presents the condensed consolidating statements of operations for the three and nine months ended September30, 2009 and September30, 2008, the condensed consolidating balance sheets as of September30, 2009 and December31, 2008, and the condensed consolidating statements of cash flows for the nine months ended September30, 2009 and 2008 of DIRECTV Holdings together with DIRECTV FinancingCo.,Inc., or the Co-Issuers, and each of DIRECTV Holdings material subsidiaries (other than DIRECTV Financing), or the Guarantor Subsidiaries, and the eliminations necessary to present DIRECTV Holdings financial statements on a consolidated basis. These condensed consolidating financial statements should be read in conjunction with the accompanying consolidated financial statements of DIRECTV Holdings. Condensed Consolidating Statement of Operations For the Three Months Ended September30, 2009 Co-Issuers Guarantor Subsidiaries Eliminations DIRECTV Holdings Consolidated (Dollars in Millions) Revenues................................................................................................. $80 $4,703 $(80) $4,703 Operating costs and expenses Costs of revenues, exclusive of depreciation and amortizationexpense Broadcast programming and other........................................... 1,998 1,998 Subscriber service expenses........................................................ 338 338 Broadcast operations expenses................................................. 70 70 Selling, general and administrative expenses, exclusive ofdepreciation and amortization expense Subscriber acquisition costs........................................................ 621 621 Upgrade and retention costs....................................................... 266 266 General and administrative expenses....................................... 311 (80) 231 Depreciation and amortization expense....................................... 568 568 Total operating costs and expenses.......................................... 4,172 (80) 4,092 Operating profit...................................................................................... 80 531 611 Equity in income of consolidated subsidiaries................................. 326 (326) Interest income...................................................................................... 1 1 Interest expense..................................................................................... (82) (3) (85) Other, net................................................................................................. (23) 4 (19) Income before income taxes............................................................... 302 532 (326) 508 Income tax benefit (expense)............................................................. 9 (206) (197) N |
Document Information
Document Information | |
9 Months Ended
Sep. 30, 2009 | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | 2009-09-30 |
Entity Information
Entity Information (USD $) | |
9 Months Ended
Sep. 30, 2009 | |
Entity Information [Line Items] | |
Entity Registrant Name | DIRECTV HOLDINGS LLC |
Entity Central Index Key | 0001234308 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Listings [Line Items] | |
Entity Common Stock, Shares Outstanding | 0 |