QuickLinks -- Click here to rapidly navigate through this document
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
DIRECTV HOLDINGS LLC
| | Years ended December 31, | Six months ended June 30, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(Dollars in millions) | 2005 | 2006 | 2007 | 2008 | 2009 | 2009 | 2010 | |||||||||||||||
Earnings: | ||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 533 | $ | 2,195 | $ | 2,250 | $ | 2,057 | $ | 2,049 | $ | 889 | $ | 1,498 | ||||||||
Fixed charges | 273 | 289 | 284 | 351 | 386 | 188 | 225 | |||||||||||||||
Capitalized interest | (31 | ) | (55 | ) | (51 | ) | (18 | ) | (18 | ) | (9 | ) | (2 | ) | ||||||||
Total earnings | $ | 775 | $ | 2,429 | $ | 2,483 | $ | 2,390 | $ | 2,417 | $ | 1,068 | $ | 1,721 | ||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | $ | 258 | $ | 273 | $ | 267 | $ | 333 | $ | 366 | $ | 178 | $ | 215 | ||||||||
Estimated interest portion of rental payments (a) | 15 | 16 | 17 | 18 | 20 | 10 | 10 | |||||||||||||||
Fixed charges | $ | 273 | $ | 289 | $ | 284 | $ | 351 | $ | 386 | $ | 188 | $ | 225 | ||||||||
Ratio of earnings to fixed charges | 2.84 | 8.40 | 8.74 | 6.81 | 6.26 | 5.68 | 7.65 | |||||||||||||||
DIRECTV
| | Years ended December 31, | Six months ended June 30, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(Dollars in millions) | 2005 | 2006 | 2007 | 2008 | 2009 | 2009 | 2010 | |||||||||||||||
Earnings: | ||||||||||||||||||||||
Income from continuing operations before income taxes before adjustment for income from equity investees | $ | 479 | $ | 2,272 | $ | 2,353 | $ | 2,416 | $ | 1,783 | $ | 978 | $ | 1,784 | ||||||||
Fixed charges | 305 | 338 | 324 | 410 | 465 | 223 | 264 | |||||||||||||||
Distributions from equity investees | — | — | — | 35 | 94 | 69 | 47 | |||||||||||||||
Non-controlling interest | (3 | ) | (13 | ) | (11 | ) | (92 | ) | (65 | ) | (22 | ) | (28 | ) | ||||||||
Capitalized interest | (31 | ) | (55 | ) | (51 | ) | (18 | ) | (18 | ) | (9 | ) | (2 | ) | ||||||||
Total earnings | $ | 750 | $ | 2,542 | $ | 2,615 | $ | 2,751 | $ | 2,259 | $ | 1,239 | $ | 2,065 | ||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | $ | 269 | $ | 301 | $ | 286 | $ | 378 | $ | 441 | $ | 212 | $ | 251 | ||||||||
Estimated interest portion of rental payments (a) | 36 | 37 | 38 | 32 | 24 | 11 | 13 | |||||||||||||||
Fixed charges | $ | 305 | $ | 338 | $ | 324 | $ | 410 | $ | 465 | $ | 223 | $ | 264 | ||||||||
Ratio of earnings to fixed charges | 2.46 | 7.52 | 8.07 | 6.71 | 4.86 | 5.56 | 7.82 | |||||||||||||||
- (a)
- Interest expense was estimated by using one-third of total rental payments.