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DIRECTV HOLDINGS LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | For the Year Ended December 31, | For Six Months Ended June 30, | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2003 | 2004 | 2005 | 2006 | 2007 | 2007 | 2008 | |||||||||||||||||
| | (Dollars in Millions) | |||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income from continuing operations before income taxes and cumulative effect of accounting changes | $ | 263 | $ | (170 | ) | $ | 533 | $ | 2,195 | $ | 2,250 | $ | 1,225 | $ | 1,205 | |||||||||
Fixed charges | 220 | 236 | 273 | 289 | 284 | 144 | 146 | |||||||||||||||||
Capitalized interest | (13 | ) | (16 | ) | (31 | ) | (55 | ) | (51 | ) | (29 | ) | (9 | ) | ||||||||||
Total earnings | $ | 470 | $ | 50 | $ | 775 | $ | 2,429 | $ | 2,483 | $ | 1,340 | $ | 1,342 | ||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 209 | $ | 222 | $ | 258 | $ | 273 | $ | 267 | $ | 135 | $ | 138 | ||||||||||
Estimated interest portion of rental payments(a) | 11 | 14 | 15 | 16 | 17 | 9 | 8 | |||||||||||||||||
Total fixed charges | $ | 220 | $ | 236 | $ | 273 | $ | 289 | $ | 284 | $ | 144 | $ | 146 | ||||||||||
Ratio of earnings to fixed charges | 2.14 | (b) | 2.84 | 8.40 | 8.74 | 9.31 | 9.19 | |||||||||||||||||
- (a)
- Interest expense was estimated by using one-third of total rental payments.
- (b)
- Fixed charges exceed earnings.