Directv 10-Q/A 20 Oct 15 2015 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document and Entity Information
Entity Registrant Name	DIRECTV
Entity Central Index Key	1,465,112
Document Type	10-Q/A
Document Period End Date	Jun. 30, 2015
Amendment Flag	true
Amendment Description	This Amendment No. 1 (the "Amendment") amends and restates the DIRECTV Group Holdings, LLC ("DIRECTV" or the "Company") Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed on August 7, 2015 (the "Original 10-Q"). As explained in the Original 10-Q, as a result of the timing of July 24, 2105 acquisition of DIRECTV by AT&T Inc. (AT&T), the Company's independent auditor was no longer regarded as independent and, as a result, the Original 10-Q, when filed, was not reviewed by an independent accountant using professional review standards and procedures as required by Rule 10-01(d) of Regulation S-X. The Amendment accordingly reflects the required review of the Company's financials by AT&T's independent auditor. In restating the consolidated financial statements for the three and six months ended June 30, 2015, due, in part, to the continued economic uncertainty and lack of liquidity in all three of the official currency exchange mechanisms in Venezuela as well as the July 24, 2015 acquisition and change in management of DIRECTV and the review by AT&T's independent auditor, we have elected to change the exchange rate used to measure our Venezuelan subsidiary's monetary assets and liabilities into U.S. dollars and to impair the fixed assets as of June 30, 2015. The Company also made necessary conforming changes in "Management's Discussion and Analysis of Financial Condition and Results of Operations" resulting from the review. This Form 10-Q/A speaks as of the filing date of the Original 10-Q, and it does not reflect events occurring after the filing of the Original 10-Q, nor does it modify or update those disclosures presented therein, except with regard to the modifications described above.
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		504,514,734
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 8,441	$ 8,109		$ 16,584	$ 15,964
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other	3,780	3,498		7,356	6,881
Subscriber service expenses	596	574		1,177	1,125
Broadcast operations expenses	118	107		235	204
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
Subscriber acquisition costs	900	898		1,788	1,725
Upgrade and retention costs	344	362		694	683
General and administrative expenses	601	517		1,115	971
Impairment of fixed and intangible assets	533			533
Venezuelan currency devaluation charge	519		$ 281	519	281
Depreciation and amortization expense	721	729		1,451	1,443
Total operating costs and expenses	8,112	6,685		14,868	13,313
Operating profit	329	1,424		1,716	2,651
Interest income	24	12		46	25
Interest expense	(234)	(230)		(479)	(462)
Other, net	25	35		32	92
Income before income taxes	144	1,241		1,315	2,306
Income tax expense	(502)	(431)		(943)	(927)
Net income (loss)	(358)	810		372	1,379
Less: Net income attributable to noncontrolling interest	(3)	(4)		(3)	(12)
Net income (loss) attributable to DIRECTV	$ (361)	$ 806		$ 369	$ 1,367
Basic earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ (0.72)	$ 1.60		$ 0.73	$ 2.70
Diluted earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ (0.72)	$ 1.59		$ 0.73	$ 2.67
Weighted average number of common shares outstanding (in millions):
Basic (in shares)	504	504		504	507
Diluted (in shares)	504	508		508	512

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - AS RESTATED - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - AS RESTATED
Net income (loss)	$ (358)	$ 810	$ 372	$ 1,379
Cash flows hedges:
Unrealized gains (losses) arising during the period	83	6	(38)	(1)
Reclassification adjustments included in net income	(74)	(28)	20	(36)
Foreign currency translation adjustments	16	32	(116)	71
Other comprehensive income (loss)	25	10	(134)	34
Comprehensive income (loss)	(333)	820	238	1,413
Comprehensive (income) loss attributable to noncontrolling interest	(8)	(8)	10	(19)
Comprehensive income attributable to DIRECTV	$ (341)	$ 812	$ 248	$ 1,394

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 4,473	$ 4,635
Accounts receivable, net of allowances of $114 and $109	2,718	2,800
Inventories	418	299
Deferred income taxes	47	68
Prepaid expenses and other	738	1,017
Total current assets	8,394	8,819
Satellites, net	3,010	3,040
Property and equipment, net	6,055	6,721
Goodwill	3,885	3,929
Intangible assets, net	835	994
Investments and other assets	1,921	1,956
Total assets	24,100	25,459
Current liabilities
Accounts payable and accrued liabilities	4,681	5,048
Unearned subscriber revenues and deferred credits	572	584
Current debt	2,355	1,327
Total current liabilities	7,608	6,959
Long-term debt	17,157	19,485
Deferred income taxes	1,624	1,726
Other liabilities and deferred credits	$ 2,282	$ 2,117
Commitments and contingencies
Stockholders' deficit
Common stock and additional paidin capital-$0.01 par value, 3,950,000,000 shares authorized, 504,511,567 and 502,733,342 shares issued and outstanding of common stock at June 30, 2015 and December 31, 2014, respectively	$ 3,645	$ 3,613
Accumulated deficit	(8,039)	(8,408)
Accumulated other comprehensive loss	(552)	(418)
Total DIRECTV stockholders' equity (deficit)	(4,946)	(5,213)
Noncontrolling interest	375	385
Total stockholders' equity (deficit)	(4,571)	(4,828)
Total liabilities and stockholders' deficit	$ 24,100	$ 25,459

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowances (in dollars)	$ 114	$ 109
Common stock and additional paid-in capital, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock and additional paid-in capital, shares authorized	3,950,000,000	3,950,000,000
Common stock and additional paid-in capital, shares issued	504,511,567	502,733,342
Common stock and additional paid-in capital, shares outstanding	504,511,567	502,733,342

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities
Net income (loss)	$ 372	$ 1,379
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	1,451	1,443
Impairment of fixed and intangible assets	533
Venezuelan currency devaluation charge	519	281
Amortization of deferred revenues and deferred credits	(23)	(24)
Share-based compensation expense	53	45
Equity in earnings from unconsolidated affiliates	(57)	(78)
Net foreign currency transaction loss (gain)	64	(11)
Dividends received	7
Net losses (gains) from sale of investments	5	(17)
Deferred income taxes	95	115
Excess tax benefit from share-based compensation	(31)	(22)
Other	73	45
Change in other operating assets and liabilities:
Accounts receivable	65	133
Inventories	(111)	(29)
Prepaid expenses and other	304	122
Accounts payable and accrued liabilities	(214)	(342)
Unearned subscriber revenue and deferred credits	2	48
Other, net	131	(24)
Net cash provided by operating activities	3,238	3,064
Cash Flows From Investing Activities
Cash paid for property and equipment	(1,251)	(1,417)
Cash paid for satellites	(131)	(109)
Cash paid for short-term investments	(53)
Investment in companies, net of cash acquired	(23)	(8)
Proceeds from sale of investments	2	29
Other, net	(4)	(4)
Net cash used in investing activities	(1,460)	(1,509)
Cash Flows From Financing Activities
Issuance of commercial paper (maturity 90 days or less), net		25
Proceeds from short-term borrowings		270
Repayment of short-term borrowings		(235)
Proceeds from long-term debt	20	1,329
Debt issuance costs		(7)
Repayment of long-term debt	(1,255)	(1,026)
Repayment of other long-term obligations	(51)	(34)
Common shares repurchased and retired		(1,386)
Stock options exercised	9	10
Taxes paid in lieu of shares issued for share-based compensation	(65)	(57)
Excess tax benefit from share-based compensation	31	22
Other, net		(40)
Net cash used in financing activities	(1,311)	(1,129)
Effect of exchange rate changes on Venezuelan cash and cash equivalents	(629)	(316)
Net increase (decrease) in cash and cash equivalents	(162)	110
Cash and cash equivalents at beginning of the period	4,635	2,180
Cash and cash equivalents at end of the period	4,473	2,290
Supplemental Cash Flow Information
Cash paid for interest	412	413
Cash paid for income taxes	$ 384	$ 767

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Description of Business and Basis of Presentation
Description of Business and Basis of Presentation	Note 1: Description of Business and Basis of Presentation DIRECTV, which we also refer to as the Company, we, or us, is a leading provider of digital television entertainment in the United States and Latin America. We operate two direct-to-home, or DTH, business units: DIRECTV U.S. and DIRECTV Latin America, which are differentiated by their geographic locations and are engaged in acquiring, promoting, selling and distributing digital entertainment programming primarily via satellite to residential and commercial subscribers. In addition, we own and operate two regional sports networks, and also own non-controlling interests in two others, ROOT SPORTS™ Northwest and ROOT SPORTS Southwest (our joint venture with AT&T Inc.). We own a 42% interest in Game Show Network LLC, or GSN, a television network dedicated to game-related programming and Internet interactive game playing. We account for our investment in ROOT SPORTS Northwest, ROOT SPORTS Southwest and GSN using the equity method of accounting. • DIRECTV U.S. DIRECTV Holdings LLC and its subsidiaries, which we refer to as DIRECTV U.S., is the largest provider of DTH digital television services and the second largest provider in the multi-channel video programming distribution industry in the United States. • DIRECTV Latin America. DIRECTV Latin America Holdings, Inc. and its subsidiaries, or DIRECTV Latin America, is a leading provider of DTH digital television services throughout Latin America. DIRECTV Latin America is comprised of: PanAmericana, which provides services in Argentina, Chile, Colombia, Ecuador, Peru, Puerto Rico, Venezuela and certain other countries in the region, and Sky Brasil Servicos Ltda., or Sky Brasil, which is a 93% owned subsidiary. DIRECTV Latin America also includes our 41% equity method investment in Innova, S. de R.L. de C.V., or Sky Mexico, which we include in the PanAmericana and Other segment. • DIRECTV Sports Networks. DIRECTV Sports Networks LLC and its subsidiaries, or DSN, is comprised primarily of two wholly owned regional sports networks based in Denver, Colorado and Pittsburgh, Pennsylvania, and two regional sports networks based in Seattle, Washington and Houston, Texas in which DSN retains a noncontrolling interest, each of which operates under the brand name ROOT SPORTS. In the fourth quarter of 2014, we acquired a noncontrolling interest in Houston Sports Holdings, LLC, or HSH, the regional sports network based in Houston, Texas. The operating results of DSN are reported as part of the "Sports Networks, Eliminations and Other" reporting segment. On July 24, 2015, DIRECTV completed a merger transaction under which DIRECTV merged into Steam Merger Sub, LLC, a wholly-owned direct s ubsidiary of AT&T Inc., or AT&T. Following the merger, Steam Merger Sub, LLC (a successor in interest to DIRECTV) was renamed DIRECTV Group Holdings, LLC. 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 Form 10-K/A for the year ended December 31, 2014 filed with the SEC on June 4, 2015, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 filed with the SEC on May 8, 2015, and all of our other filings, including Current Reports on Form 8-K, filed with the SEC after such date and through the date of this report. We prepare our consolidated financial statements in conformity with GAAP, which requires us to make estimates and assumptions that affect amounts reported herein. We base our estimates and assumptions on historical experience and on various other factors that we believe to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, our actual results reported in future periods may be affected by changes in those estimates.

New Accounting Standard

New Accounting Standard	6 Months Ended
	Jun. 30, 2015
New Accounting Standard
New Accounting Standard	Note 2: New Accounting Standards Revenue Recognition. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" (ASU 2014-09), which replaces existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. ASU 2014-09 becomes effective for annual reporting periods beginning after December 15, 2017, following the July 2015 approval of a one-year deferral of the effective date by the FASB. We continue to evaluate the impact of the new standard and available adoption methods. Long-Term Debt and Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, "Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs" (ASU 2015-03), which will result in the reclassification of debt issuance costs from "Other Assets" to inclusion as a reduction of our reportable "Long-Term Debt" balance on our consolidated balance sheets. ASU 2015-03 becomes effective January 1, 2016, subject to early adoption, and will require full retrospective application. We do not expect this new standard to have a material impact on our consolidated balance sheets.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2015
Goodwill
Goodwill	Note 3: Goodwill The following table sets forth changes in the carrying amounts of "Goodwill" in the Consolidated Balance Sheets by reportable segment for the six months ended June 30, 2015: DIRECTV Latin America Sports Networks, Eliminations and Other DIRECTV U.S. Sky Brasil PanAmericana and Other Total (Dollars in Millions) Balance as of January 1, 2015 $ $ $ $ $ Sky Brasil foreign currency translation adjustment — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2015 $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt
Debt	Note 4: Debt The following table sets forth our outstanding debt as of: June 30, 2015 December 31, 2014 (Dollars in Millions) Current debt Current portion of long-term debt $ $ Current portion of borrowings under BNDES financing facility Long-term debt Senior notes Borrowings under BNDES financing facility Borrowings under Desenvolve SP financing facility ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amount of interest accrued related to our outstanding debt was $322 million at June 30, 2015 and $278 million at December 31, 2014. Senior Notes Six Months Ended June 30, 2015 Financing Transactions In March 2015, DIRECTV U.S. repaid the 3.550% senior notes due in 2015, or the 2015 Notes, for the unpaid principal balance of $1,200 million, together with accrued and unpaid interest as of that date, as required by the indenture for the 2015 Notes. Six Months Ended June 30, 2014 Financing Transactions On March 17, 2014, DIRECTV U.S. issued, pursuant to a registration statement, $1,250 million in aggregate principal of 4.450% senior notes due in 2024 with proceeds, net of an original issue discount, of $1,245 million. We incurred $7 million of debt issuance costs in connection with this transaction. On March 20, 2014, we exercised our early redemption right under the indenture of the 4.750% senior notes due in 2014 ("the 2014 Notes") effective April 24, 2014. The redemption price was based on the remaining scheduled payments of principal and interest using a discount rate equal to the Treasury Rate (as defined in the indenture governing the 2014 Notes) plus 40 basis points, together with accrued and unpaid interest as of April 24, 2014. The aggregate principal amount of the 2014 Notes outstanding on March 20, 2014 was $1,000 million and we made a cash payment of $1,022 million in the second quarter of 2014 to redeem such Notes. The following table sets forth our outstanding senior notes: Principal amount Carrying value, net of unamortized original issue discounts June 30, 2015 June 30, 2015 December 31, 2014 (Dollars in Millions) 3.550% senior notes due in 2015 $ — $ — $ 3.125% senior notes due in 2016 3.500% senior notes due in 2016 2.400% senior notes due in 2017 1.750% senior notes due in 2018 5.875% senior notes due in 2019 5.200% senior notes due in 2020 4.600% senior notes due in 2021 5.000% senior notes due in 2021(1) 3.800% senior notes due in 2022(1) 2.750% senior notes due in 2023(2) 4.450% senior notes due in 2024(1) 3.950% senior notes due in 2025 4.375% senior notes due in 2029(2) 5.200% senior notes due in 2033(2) 6.350% senior notes due in 2040 6.000% senior notes due in 2040 6.375% senior notes due in 2041 5.150% senior notes due in 2042 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total senior notes $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The carrying values as of June 30, 2015 and December 31, 2014 include the following fair value adjustments, respectively: increases of $11 million and $10 million for the 5.000% senior notes due in 2021, increases of $21 million and $20 million for the 3.800% senior notes due in 2022 and increases of $42 million and $39 million for the 4.450% senior notes due in 2024. (2) These amounts reflect the remeasurement of the aggregate principal and carrying value of our foreign currency denominated senior notes to U.S. dollars based on the exchange rates in effect at each of the dates presented. The fair value of our senior notes was approximately $20,154 million at June 30, 2015 and $22,044 million at December 31, 2014. We calculated the fair values based on quoted market prices of our senior notes, which is a Level 1 input under accounting guidance for fair value measurements of assets and liabilities. All of our senior notes were issued by DIRECTV Holdings LLC and DIRECTV Financing Co., Inc., or the Co-Issuers, and have been registered under the Securities Act of 1933, as amended. The principal amount of our senior notes which have not been redeemed mature as follows: $2,250 million in 2016, $1,250 million in 2017, $750 million in 2018, $1,000 million in 2019, $1,300 million in 2020 and $12,736 million thereafter. Revolving Credit Facilities and Commercial Paper Concurrent with the AT&T merger transaction close on July 24, 2015, we terminated our revolving credit facilities and commercial paper program which included the ability for us to borrow up to $2.5 billion. Covenants and Restrictions The senior notes include covenants that limit DIRECTV U.S.'s and its subsidiaries' ability to, among other things, (i) incur certain liens, (ii) engage in certain sale leaseback transactions, and (iii) merge, consolidate or sell substantially all of its assets. If DIRECTV U.S. and its subsidiaries fail to comply with these covenants, all or a portion of its borrowings under the senior notes could become immediately payable. The senior notes provide that the borrowings may be required to be prepaid if certain change-in-control events, coupled with a ratings decline, occur. DIRECTV Group Holdings, LLC Guarantors. Following the close of the AT&T merger transaction discussed in Note 1 of the Notes to the Consolidated Financial Statements, DIRECTV Group Holdings, LLC assumed as the successor of DIRECTV the guarantee of the senior notes on the terms set forth in the respective Supplemental Indentures and the Guarantee, dated as of July 24, 2015, with respect to each Supplemental Indenture (collectively, the "Guarantees"). For further information, refer to the Form 8-K filed with the SEC on July 24, 2015 by AT&T Inc. DIRECTV Group Holdings, LLC guarantees all of the senior notes outstanding, jointly and severally with DIRECTV Holdings LLC's material domestic subsidiaries. DIRECTV Group Holdings, LLC unconditionally guarantees that the principal and interest on the respective senior notes will be paid in full when due and that the obligations of the Co-Issuers to the holders of the outstanding senior notes will be performed. As a result of the Guarantees, holders of the senior notes may have the benefit of DIRECTV Group Holdings, LLC 's interests in the assets and related earnings of our operations that are not held through DIRECTV Holdings LLC and its subsidiaries. Those operations are primarily our DTH digital television services throughout Latin America which are held by DIRECTV Latin America and our regional sports networks which are held by DSN. However, the subsidiaries that own and operate the DIRECTV Latin America business and the regional sports networks have not guaranteed the senior notes. The Guarantees are unsecured senior obligations of DIRECTV Group Holdings, LLC and rank equally in right of payment with all of DIRECTV Group Holdings, LLC's existing and future senior debt and rank senior in right of payment to all of DIRECTV Group Holdings, LLC 's future subordinated debt, if any. The Guarantees are effectively subordinated to all existing and future secured obligations, if any, of DIRECTV Group Holdings, LLC to the extent of the value of the assets securing the obligations. DIRECTV Group Holdings, LLC is not subject to the covenants contained in the indentures governing the senior notes and the Guarantees will terminate and be released on the terms set forth in each of the indentures. Desenvolve SP Financing Facility In the second quarter of 2014, Sky Brasil entered into a Brazilian real denominated financing facility with Desenvolve SP, an agency created by the Sao Paulo State Government for economic development, under which Sky Brasil may borrow funds for the construction of a satellite and broadcast facility. Each borrowing under the facility, including accrued interest, will be repaid in a single installment five years from the date of such borrowing. The financing facility is secured by a third party bank guarantee. As of June 30, 2015, Sky Brasil had borrowings of R$98 million ($31 million) under the facility bearing interest of 2.5% per year. As of December 31, 2014, Sky Brasil had borrowings of R$48 million ($18 million) under the facility bearing interest of 2.5% per year. The U.S. dollar amounts reflect the conversion of the Brazilian real denominated amounts into U.S. dollars based on the exchange rates of R$3.10 / $1.00 and R$2.66 / $1.00 as of June 30, 2015 and December 31, 2014, respectively. Borrowings under the Desenvolve SP facility mature as follows: R$48 million ($15 million) in 2019 and R$50 million ($16 million) in 2020. BNDES Financing Facility In March 2013, Sky Brasil entered into a Brazilian real denominated financing facility with Banco Nacional de Desenvolvimento Econômico e Social, or BNDES, a government owned bank in Brazil, under which Sky Brasil may borrow funds for the purchase of set-top receivers. As of June 30, 2015, Sky Brasil had borrowings of R$552 million ($178 million) outstanding under the BNDES facility bearing interest at a weighted-average rate of 5.40% per year. As of December 31, 2014, Sky Brasil had borrowings of R$710 million ($267 million) outstanding under the BNDES facility bearing interest at a weighted-average rate of 5.11% per year. Borrowings under the facility are required to be repaid in 30 monthly installments. The U.S. dollar amounts reflect the conversion of the Brazilian real denominated amounts into U.S. dollars based on the exchange rates of R$3.10 / $1.00 and R$2.66 / $1.00 as of June 30, 2015 and December 31, 2014, respectively. Borrowings under the BNDES facility mature as follows: R$174 million ($56 million) in 2015, R$273 million ($88 million) in 2016, R$102 million ($33 million) in 2017 and R$3 million ($1 million) in 2018. The financing facility is collateralized by the financed set-top receivers with an original purchase price of approximately R$1,037 million ($335 million) based on the exchange rate of R$3.10 / $1.00 as of June 30, 2015. Restricted Cash Restricted cash of $13 million as of June 30, 2015 and $10 million as of December 31, 2014 was included as part of "Prepaid expenses and other" in our Consolidated Balance Sheets. The majority of these amounts secure certain of our letters of credit obligations and restrictions on the cash will be removed as the letters of credit expire.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Financial Instruments
Derivative Financial Instruments	Note 5: Derivative Financial Instruments We use derivative financial instruments primarily to manage the risks associated with fluctuations in foreign currency exchange rates and interest rates. We do not use derivatives for trading or speculative purposes. We record derivative financial instruments in the Consolidated Balance Sheets as either assets or liabilities at fair value. We calculate the fair value of derivative contracts using an income-approach model (discounted cash flow analysis), the use of which is considered a Level 2 valuation technique, using observable inputs, such as yield curves, foreign currency exchange rates, and incorporating counterparty credit risk, as applicable. For derivative financial instruments designated as fair value hedges, the change in the fair value of both the derivative instrument and the hedged item are recognized in earnings in the current period. For derivative financial instruments designated as cash flow hedges, the effective portion of the unrealized gains or losses on the derivative financial instruments are initially reported in "Accumulated other comprehensive loss" in the Consolidated Balance Sheets, and subsequently reclassified to earnings in the same periods during which the hedged item affects earnings. The ineffective portion of the unrealized gains and losses on these derivative financial instruments, if any, is recorded immediately in earnings. We evaluate the effectiveness of our derivative financial instruments at inception and on a quarterly basis. The following table sets forth the fair values of assets and liabilities associated with the derivative financial instruments as of: Assets Liabilities June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 (Dollars in millions) Cash flow hedges: Cross-currency swap contracts $ $ $ $ Fair value hedges: Interest rate swap contracts — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative financial instruments $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The fair values of the assets associated with derivative financial instruments are recorded in "Investments and other assets" in the Consolidated Balance Sheets and the fair value of the liabilities associated with derivative financial instruments are recorded in "Other liabilities and deferred credits" in the Consolidated Balance Sheets. The following table sets forth the notional amounts of outstanding derivative financial instruments as of: June 30, 2015 December 31, 2014 (Dollars in millions) Cash flow hedges: Cross-currency swap contracts $ $ Fair value hedges: Interest rate swap contracts — ​ ​ ​ ​ ​ ​ ​ ​ Total notional amount of derivative financial instruments $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral Arrangements. We have agreements with our derivative instrument counterparties that include collateral provisions which require a party with an unrealized loss position in excess of certain thresholds to post cash collateral for the amount in excess of the threshold. The threshold levels in our collateral agreements are based on each party's credit ratings. We held no cash collateral from counterparties as of June 30, 2015 and December 31, 2014. We did not have any cash collateral posted with counterparties as of June 30, 2015 and December 31, 2014. We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable), against the fair value of the derivative instruments. Cross-Currency Swap Contracts In a series of financing transactions, DIRECTV U.S. issued, pursuant to a U.S. registration statement, the following senior notes: £750 million in aggregate principal of 4.375% senior notes due in 2029, €500 million in aggregate principal of 2.750% senior notes due in 2023 and £350 million in aggregate principal of 5.200% senior notes due in 2033. In connection with the issuance of these senior notes, DIRECTV U.S. entered into cross-currency swap contracts to manage the related foreign exchange risk by effectively converting all of the fixed-rate British pound sterling and fixed-rate Euro denominated debt, including annual interest payments and the payment of principal at maturity, to fixed-rate U.S. dollar denominated debt. These cross-currency swaps are designated and qualify as cash flow hedges. The terms of the cross-currency swap contracts correspond to the related hedged senior notes and have maturities ranging from May 2023 to November 2033. We calculate the fair value of the cross-currency swap contracts using an income-approach model (discounted cash flow analysis), the use of which is considered a Level 2 valuation technique, using observable inputs, such as foreign currency exchange rates, swap rates, cross-currency basis swap spreads and incorporating counterparty credit risk. During the six months ended June 30, 2015, DIRECTV U.S. recorded net remeasurement gains of $32 million in "Other, net" in the Consolidated Statements of Operations related to the remeasurement of the hedged senior notes. To offset these remeasurement gains, we reclassified $32 million ($20 million after tax) from "Accumulated other comprehensive loss" in the Consolidated Balance Sheets to "Other, net" in the Consolidated Statements of Operations. During the six months ended June 30, 2014, DIRECTV U.S. recorded net remeasurement losses of $58 million in "Other, net" in the Consolidated Statements of Operations related to the remeasurement of the hedged senior notes. To offset these remeasurement losses, we reclassified $58 million ($36 million after tax) from "Accumulated other comprehensive loss" in the Consolidated Balance Sheets to "Other, net" in the Consolidated Statements of Operations. These reclassifications eliminate the impact of the remeasurement of the hedged senior notes from our results of operations. Interest Rate Lock Contracts Periodically we entered into interest rate lock contracts such as forward starting swaps and treasury locks to hedge against changes in interest payments attributable to changes in the benchmark interest rate during the period leading up to a forecasted issuance of fixed rate debt. These interest rate locks are designated and qualify as cash flow hedges. On March 17, 2014, DIRECTV U.S. issued $1,250 million in aggregate principal of 4.450% senior notes due in 2024. In connection with this transaction, DIRECTV U.S. settled all then-outstanding forward-starting interest rate swaps, which were previously entered into to protect against unfavorable interest rate changes related to the forecasted issuance of debt. These interest rate swaps were designated and qualified as cash flow hedges. As a result of settling these forward-starting interest rate swaps, we recognized $1 million of ineffectiveness in earnings during 2014. As of June 30, 2015, we had $8 million in "Accumulated other comprehensive loss" in the Consolidated Balance Sheets related to these forward-starting interest rate swaps that is being recognized as interest expense over the term of the 4.450% senior notes due in 2024. Fixed-to-Floating Interest Rate Swap Contracts DIRECTV U.S. has entered into fixed-to-floating interest rate swap contracts from time to time in order to manage its interest rate exposure. We designate such swaps as fair value hedges. Depending on market conditions, the mix of our fixed interest rate and floating interest rate debt and other factors, we may periodically discontinue these fair value hedges and terminate our fixed-to-floating interest rate swap contracts by settling the contracts or by entering into offsetting contracts. During 2014, DIRECTV U.S. entered into interest rate swap contracts with a total notional amount of $3,000 million, converting a portion of the total aggregate principal amounts of the 5.000% senior notes due in 2021, the 3.800% senior notes due in 2022 and the 4.450% senior notes due in 2024 from a fixed to floating interest rate. In January 2015, DIRECTV U.S. discontinued the fair value hedges and settled these fixed-to-floating interest rate swap contracts. As a result of these settlements, DIRECTV U.S. received cash proceeds of $18 million, which are included in "Net cash provided by operations" in the Consolidated Statements of Cash Flows. As of June 30, 2015, there was $74 million of favorable adjustments to the carrying value of the senior notes, which will be amortized to "Interest expense" in the Consolidated Statements of Operations over the remaining term of the hedged senior notes. We calculated the fair value of the interest rate swap contracts using an income-approach model (discounted cash flow analysis), the use of which is considered a Level 2 valuation technique, using observable inputs, such as yield curves. In connection with the settlement of the fixed-to-floating interest rate swap contracts, we recognized a $2 million gain in "Other, net" in the Consolidated Statements of Operations for the quarter ended March 31, 2015. The periodic interest settlements for the interest rate swap contracts are recorded in "Interest expense" in the Consolidated Statements of Operations.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2015
Contingencies
Contingencies	Note 6: Contingencies Venezuela Devaluation and Foreign Currency Exchange Controls Companies operating in Venezuela are required to obtain Venezuelan government approval to exchange Venezuelan bolivars into U.S. dollars and such approval has not consistently been granted for several years. Consequently, our ability to pay U.S. dollar denominated obligations and repatriate cash generated in Venezuela in excess of local operating requirements is limited, which has resulted in increases in the cash balance at our Venezuelan subsidiary, and limited our ability to import set-top receivers and other equipment, limiting the growth of our business in Venezuela. As of June 30, 2015, the mechanisms in Venezuela for exchanging Venezuelan bolivars into U.S. dollars were as follows: (i) the official government mechanism operated by the Venezuelan Central Bank, which has a fixed exchange rate of 6.3 Venezuelan bolivars per U.S. dollar mainly reserved for essential goods and services (ii) the auction based Sistema Complementario de Administración de Divisas, or SICAD, which is intended for dividend and royalty remittances as well as certain imports, including telecommunications equipment and (iii) an open market currency exchange system Sistema Marginal de Divisas, or SIMADI, which is based on supply and demand. As of June 30, 2015, the SICAD exchange rate was 12.8 Venezuelan bolivars per U.S. dollars and the SIMADI exchange rate was 197.7 Venezuelan bolivars per U.S. dollars. Effective March 31, 2014, we changed the exchange rate for remeasuring our Venezuelan subsidiary's monetary net assets from the official exchange rate of 6.3 Venezuelan bolivars per U.S. dollar to the SICAD rate, which was 10.7 Venezuelan bolivars per U.S. dollar as of March 31, 2014. As a result of the devaluation, we recorded a pre-tax charge in "Venezuelan currency devaluation charge" in the Consolidated Statements of Operations of $281 million in the first quarter of 2014, related to the remeasurement of the Venezuelan bolivar denominated net monetary assets of our Venezuelan subsidiary on March 31, 2014. In our Original 10-Q, the net monetary assets and liabilities were remeasured using the SICAD exchange rate. During the second quarter of 2015, we recorded $39 million in "General and administrative expenses" in the Consolidated Statements of Operations as a result of the change in the SICAD exchange rate to 12.8 Venezuelan bolivars per U.S. dollar as of June 30, 2015 from 12.0 Venezuelan bolivars per U.S. dollar as of March 31, 2015 in our Original 10-Q. Due to the continued economic uncertainty and lack of liquidity in all three of the official currency exchange mechanisms in Venezuela, effective June 30, 2015, in this amended Form 10-Q we have changed the exchange rate used to remeasure our Venezuelan subsidiary's monetary assets and liabilities into U.S. dollars from SICAD to SIMADI as of June 30, 2015. The significant change in exchange rates required us to also evaluate the recoverability of our fixed and intangible assets and inventory, and we have determined a resulting impairment charge. During the second quarter of 2015, we recorded a pre-tax charge of $1,060 million, of which $533 million was recorded in "Impairment of fixed and intangible assets" and $519 million was recorded in "Venezuelan currency devaluation charge" in the Consolidated Statements of Operations—As Restated as a result of the change to the SIMADI exchange rate of 197.7 Venezuelan bolivars per U.S. dollars as of June 30, 2015 from the SICAD exchange rate of 12.8 Venezuelan bolivars per U.S. dollar as of June 30, 2015 and the impairment of fixed and intangible assets and inventory. In the second quarter of 2015, our Venezuelan subsidiary generated revenues of approximately $250 million and operating profit before depreciation and amortization of approximately $80 million based on the SICAD exchange rate. During the six months ended June 30, 2015, our Venezuelan subsidiary generated revenues of approximately $500 million and operating profit before depreciation and amortization of approximately $180 million, excluding the impact of the $39 million exchange rate losses recorded in "General and administrative expenses" based on the SICAD exchange rate. Significant uncertainties exist regarding the exchange mechanisms in Venezuela including the nature of transactions that are eligible for repatriation though the official process, SICAD or SIMADI, or any other new exchange mechanism that may emerge, how such mechanisms will operate in the future, as well as the volume of U.S. dollars available under each mechanism. Changes in exchange mechanisms and rates will impact the comparability of our results of operations and financial position, and could result in significant future devaluations or impairments of tangible and intangible assets. 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 June 30, 2015. 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 effect on our consolidated financial statements. We expense legal costs as incurred. NFL Sunday Ticket Litigation. DIRECTV has been served with several putative class actions filed in state and federal court in California and in federal court in New York. The complaints allege, among other things, that the agreement between DIRECTV and the National Football League for DIRECTV's exclusive distribution of NFL Sunday Ticket violates Sections 1 and 2 of the Sherman Act and California state law and that plaintiffs have been overcharged for the televised presentation of out-of-market NFL games. The complaints seek to represent classes of DIRECTV residential and commercial subscribers to NFL Sunday Ticket and seek injunctions, unspecified treble damages and attorneys' fees. We are confident that our agreement with the NFL does not violate the Sherman Act and California state law and intend to vigorously defend the lawsuits. Major League Baseball Litigation. A class was certified by Judge Shira Scheindlin in the case Lerner et al. v. Office of the Commissioner of Baseball et al. filed in May 2015 in federal court for the Southern District of New York. Judge Scheindlin ruled that the plaintiffs were entitled to seek an injunction on behalf of a class of subscribers who had purchased MLB Extra Innings from DIRECTV, Comcast and MLB, to prevent MLB from enforcing league rules that grant member teams exclusive home team territories. The Judge also ruled that the plaintiffs were not entitled to seek damages on behalf of the class. A trial is scheduled to begin in January 2016. The defendants intend to defend the case and pursue appeals to reverse the numerous errors of law that formed the bases of the trial court's orders. Intellectual Property Litigation. We are a defendant in several unrelated lawsuits claiming infringement of various patents relating to various aspects of our businesses. In certain of these cases other industry participants are also defendants, and also in certain of these cases we expect that any potential liability would be the responsibility of our equipment vendors pursuant to applicable contractual indemnification provisions. Further, in certain of these cases, suppliers of equipment to DIRECTV are also defendants, and DIRECTV has contractual obligations to indemnify and hold harmless those suppliers in those cases. To the extent that the allegations in these lawsuits can be analyzed by us at this stage of their proceedings, we believe the claims are without merit and intend to defend the actions vigorously. We have determined the likelihood of a material liability in such matters is remote or have made appropriate accruals and the final disposition of these claims is not expected to have a material effect on our consolidated financial position. However, if an adverse ruling is made in a lawsuit involving key intellectual property, such ruling could possibly be material to our consolidated results of operations of any one period. No assurance can be given that any adverse outcome would not be material to our consolidated financial position. Early Cancellation Fees. As previously reported, in 2008, a number of plaintiffs filed putative class action lawsuits in state and federal courts challenging the early cancellation fees we assess our customers when they do not fulfill their programming commitments. We have reached a settlement with the individual plaintiffs in the federal cases. In the California state court action, the United States Supreme Court agreed to review the California Court of Appeal's opinion affirming the denial of our motion to compel arbitration. A decision from the U.S. Supreme Court is expected in 2016. We believe that our early cancellation fees are adequately disclosed, and represent reasonable estimates of the costs we incur when customers cancel service before fulfilling their programming commitments. State and Federal Inquiries. From time to time, we receive investigative inquiries or subpoenas from state and federal authorities with respect to alleged violations of state and federal statutes. These inquiries may lead to legal proceedings in some cases. FTC Litigation. On March 11, 2015, the Federal Trade Commission, or FTC, filed a lawsuit against DIRECTV and DIRECTV, LLC in United States District Court for the Northern District of California. The FTC alleges that DIRECTV failed to disclose adequately in our advertisements certain terms and conditions of our programming package offers. The complaint also alleges that DIRECTV violated applicable law by failing adequately to disclose, and to obtain consumers' express consent to, the terms of negative option offers for premium channels. The complaint seeks a permanent injunction to prevent further violations, as well as relief to redress injury to consumers. We believe we have valid defenses to the FTC's claims and we intend to vigorously defend the lawsuit. Waste Disposal Inquiry. In August 2012, DIRECTV U.S. received from the State of California subpoenas and interrogatories related to our generation, handling, record keeping, transportation and disposal of hazardous waste, including universal waste, in the State of California, and the training of employees regarding the same. The investigation is jointly conducted by the Office of the Attorney General and the District Attorney for Alameda County and appears to be part of a broader effort to investigate waste handling and disposal processes of a number of industries. We are continuing to review our policies and procedures applicable to all facilities, cooperating with the investigation and recently began discussions with regulators directed at reaching resolution of this matter. Other. We are subject to other legal proceedings and claims that arise in the ordinary course of our business. The amount of ultimate liability with respect to such actions is not expected to materially affect our financial position, results of operations or liquidity. Income Tax Matters We have received tax assessments from certain foreign jurisdictions and have agreed to indemnify previously divested businesses for certain tax assessments relating to periods prior to their respective divestitures. These assessments are in various stages of the administrative process or litigation. While the outcome of these assessments and other tax issues cannot be predicted with certainty, we believe that the ultimate outcome will not have a material effect on our consolidated financial position or result of operations. 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 a portion of 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 June 30, 2015, the net book value of in-orbit satellites was $2,047 million, all of which was uninsured. Other We have an investment with a carrying value of $147 million as of June 30, 2015 in an entity that holds certain soccer rights and provides production services for soccer tournaments in Latin America. In connection with recent FIFA-related developments and investigations, our investment, which we account for following the equity method of accounting, could be adversely impacted and we could be required to record an impairment of our investment depending on on-going developments related to this entity. As of June 30, 2015, we were contingently liable under standby letters of credit and bonds in the aggregate amount of $361 million primarily related to judicial deposit and payment guarantees in Latin America and insurance deductibles.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions
Related Party Transactions	Note 7: Related Party Transactions In the ordinary course of our operations, we enter into transactions with related parties as discussed below. Related parties include Globo, which provides programming and advertising to Sky Brasil, and companies in which we hold equity method investments, including Sky Mexico, GSN, HSH and ROOT SPORTS Northwest. The majority of payments under contractual arrangements with related parties are pursuant to multi-year programming contracts. Payments under these contracts are typically subject to annual rate increases and are based on the number of subscribers receiving the related programming. The following table summarizes revenues and expenses with related parties: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in Millions) Revenues $ $ $ $ Expenses The following table sets forth the amounts recorded in the Consolidated Balance Sheets for related party transactions as of: June 30, 2015 December 31, 2014 (Dollars in Millions) Accounts receivable $ $ Prepaid expenses and other — Accounts payable Short-term liability Long-term liability

Stockholders' Deficit and Nonco

Stockholders' Deficit and Noncontrolling Interest	6 Months Ended
	Jun. 30, 2015
Stockholders' Deficit and Noncontrolling Interest
Stockholders' Deficit and Noncontrolling Interest	Note 8: Stockholders' Deficit and Noncontrolling Interest Capital Stock and Additional Paid-In Capital At June 30, 2015, our certificate of incorporation provided for the following capital stock: 3,950,000,000 shares of common stock, par value $0.01 per share, and 50,000,000 shares of preferred stock, par value $0.01 per share. Prior to the close of the merger transaction on July 24, 2015, DIRECTV common stock was entitled to one vote per share and traded on the NASDAQ, under the ticker "DTV". As of June 30, 2015 and December 31, 2014, there were no outstanding shares of preferred stock. Share Repurchase Program Since 2006 our Board of Directors has approved multiple authorizations for the repurchase of our common stock. In February 2014 our Board of Directors approved an authorization for up to $3.5 billion for repurchases of our common stock. In accordance with the Merger Agreement, we suspended the share repurchase program and agreed to not purchase, repurchase, redeem or otherwise acquire any shares of our capital stock during the pendency of the proposed transaction without AT&T's consent, effective May 18, 2014. Noncontrolling Interest In connection with our acquisition of Sky Brasil in 2006, our partner who holds the remaining 7% interest, Globo Comunicações e Participações S.A., or Globo, was granted the right, until January 2014, to require us to purchase all, but not less than all, of its shares in Sky Brasil. Globo did not exercise its right to require us to purchase its shares in Sky Brasil. That right has now expired and the noncontrolling interest is no longer redeemable. In accordance with Accounting Standards Codification 480, Distinguishing Liabilities from Equity , during the first quarter of 2014, we reclassified $375 million, which was the fair value of Globo's remaining 7% interest, from "Redeemable noncontrolling interest" to "Noncontrolling interest," a component of stockholders' deficit in the Consolidated Balance Sheets. During the first quarter of 2014, we discontinued fair value accounting for this equity instrument. The following table sets forth a reconciliation of stockholders' deficit for the six months ended June 30, 2015: Stockholders' Deficit DIRECTV Common Shares Common Stock and Additional Paid-In Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total DIRECTV Stockholders' Deficit Noncontrolling Interest Total Stockholders' Deficit (Amounts in Millions, Except Share Data) Balance as of January 1, 2015 $ $ ) $ ) $ ) $ $ ) Net income Stock options exercised and restricted stock units vested and distributed ) ) ) Share-based compensation expense Tax benefit from share-based compensation Other Other comprehensive loss ) ) ) CTA adjustment allocated to noncontrolling interest ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2015 $ $ ) $ ) $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table sets forth a reconciliation of stockholders' deficit and redeemable noncontrolling interest for the six months ended June 30, 2014: Stockholders' Deficit DIRECTV Common Shares Common Stock and Additional Paid-In Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total DIRECTV Stockholders' Deficit Noncontrolling Interest Total Stockholders' Deficit Redeemable Noncontrolling Interest (Amounts in Millions, Except Share Data) Balance as of January 1, 2014 $ $ ) $ ) $ ) $ — $ ) $ Net income Stock repurchased and retired ) ) ) ) ) Stock options exercised and restricted stock units vested and distributed ) ) ) Share-based compensation expense Tax benefit from share-based compensation Other ) ) ) Other comprehensive income CTA adjustment allocated to noncontrolling interest Noncontrolling interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2014 $ $ ) $ ) $ ) $ $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Comprehensive Income (Loss) The following represents the components of other comprehensive income (loss) for each of the periods presented: Three Months Ended June 30, 2015 2014 Pre-Tax Tax Benefit (Expense) Net of Tax Pre-Tax Tax Benefit (Expense) Net of Tax (Dollars in Millions) Cash flows hedges: Unrealized gains arising during the period $ $ ) $ $ $ ) $ Reclassification adjustments included in "Other, net" ) ) ) ) Foreign currency translation adjustments ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income $ $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 2015 2014 Pre-Tax Tax Benefit (Expense) Net of Tax Pre-Tax Tax Benefit (Expense) Net of Tax (Dollars in Millions) Cash flows hedges: Unrealized losses arising during the period $ ) $ $ ) $ ) $ $ ) Reclassification adjustments included in "Other, net" ) ) ) Foreign currency translation adjustments ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) $ ) $ $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Other Comprehensive Loss The following represents the changes in the components of accumulated other comprehensive loss for each of the periods presented: Defined Benefit Plan Items Gains (Losses) on Cash Flow Hedges Foreign Currency Items Accumulated Other Comprehensive Loss (Dollars in Millions) Balance as of January 1, 2015 $ ) $ $ ) $ ) Other comprehensive loss — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2015 $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit Plan Items Gains (Losses) on Cash Flow Hedges Foreign Currency Items Accumulated Other Comprehensive Loss (Dollars in Millions) Balance as of January 1, 2014 $ ) $ $ ) $ ) Other comprehensive income (loss) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2014 $ ) $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Common Share
Earnings Per Common Share	Note 9: Earnings (Losses) Per Common Share We compute basic earnings (losses) per common share, or EPS, by dividing net income attributable to DIRECTV by the weighted average number of common shares outstanding for the period. Diluted EPS considers the effect of common equivalent shares, which consist entirely of common stock options and restricted stock units issued to employees. During the three and six months ended June 30, 2015 and June 30, 2014 we excluded 0.2 million common stock awards from the computation of diluted EPS, because the inclusion of the potential common shares would have had an antidilutive effect. The reconciliation of the amounts used in the basic and diluted EPS computation is as follows: Income Shares Per Share Amounts (Dollars and Shares in Millions, Except Per Share Amounts) Three Months Ended June 30, 2015 Basic EPS Net income (loss) attributable to DIRECTV $ ) $ ) Effect of dilutive securities Dilutive effect of stock options and restricted stock units — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income (loss) attributable to DIRECTV $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 Basic EPS Net income attributable to DIRECTV $ $ Effect of dilutive securities Dilutive effect of stock options and restricted stock units — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income attributable to DIRECTV $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Shares Per Share Amounts (Dollars and Shares in Millions, Except Per Share Amounts) Six Months Ended June 30, 2015 Basic EPS Net income attributable to DIRECTV $ $ Effect of dilutive securities Dilutive effect of stock options and restricted stock units — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income attributable to DIRECTV $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 Basic EPS Net income attributable to DIRECTV $ $ Effect of dilutive securities Dilutive effect of stock options and restricted stock units — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income attributable to DIRECTV $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2015
Segment Reporting
Segment Reporting	Note 10: Segment Reporting Our reportable segments, which are differentiated by their products and services as well as geographic location, are DIRECTV U.S., Sky Brasil and PanAmericana and Other, which are engaged in acquiring, promoting, selling and distributing digital entertainment programming primarily via satellite to residential and commercial subscribers, and the Sports Networks, Eliminations and Other segment, which includes our regional sports networks that provide programming devoted to local professional sports teams and college sporting events and locally produce their own programming. Sports Networks, Eliminations and Other also includes the corporate office, eliminations and other entities. Selected information for our operating segments, restated for the changes discussed in Note 6 above, is reported as follows: External Revenues Intersegment Revenues Total Revenues Operating Profit (Loss) Depreciation and Amortization Expense Operating Profit (Loss) Before Depreciation and Amortization(1) (Dollars in Millions) Three Months Ended June 30, 2015 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana and Other — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — ) ) Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana and Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External Revenues Intersegment Revenues Total Revenues Operating Profit (Loss) Depreciation and Amortization Expense Operating Profit (Loss) Before Depreciation and Amortization(1) (Dollars in Millions) Six Months Ended June 30, 2015 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — ) ) Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Operating profit (loss) before depreciation and amortization, which is a financial measure that is not determined in accordance with GAAP can be calculated by adding amounts under the caption "Depreciation and amortization expense" to "Operating profit (loss)." This measure should be used in conjunction with GAAP financial measures and is not presented as an alternative measure of operating results, as determined in accordance with GAAP. Our management and Board of Directors use operating profit before depreciation and amortization to evaluate the operating performance of our company and our business segments and to allocate resources and capital to business segments. This metric is also used as a measure of performance for incentive compensation purposes and to measure income generated from operations that could be used to fund capital expenditures, service debt or pay taxes. Depreciation and amortization expense primarily represents an allocation to current expense of the cost of historical capital expenditures and for intangible assets resulting from prior business acquisitions. To compensate for the exclusion of depreciation and amortization expense from operating profit, our management and Board of Directors separately measure and budget for capital expenditures and business acquisitions. We believe this measure is useful to investors, along with GAAP measures (such as revenues, operating profit and net income), to compare our operating performance to other communications, entertainment and media service providers. We believe that investors use current and projected operating profit before depreciation and amortization and similar measures to estimate our current or prospective enterprise value and make investment decisions. This metric provides investors with a means to compare operating results exclusive of depreciation and amortization. Our management believes this is useful given the significant variation in depreciation and amortization expense that can result from the timing of capital expenditures, the capitalization of intangible assets, potential variations in expected useful lives when compared to other companies and periodic changes to estimated useful lives. The following represents a reconciliation of operating profit before depreciation and amortization to reported net income on the Consolidated Statements of Operations: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in Millions) Operating profit before depreciation and amortization $ $ $ $ Depreciation and amortization ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit Interest income Interest expense ) ) ) ) Other, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes Income tax expense ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) Less: Net income attributable to noncontrolling interest ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to DIRECTV $ ) $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2015
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements	Note 11: Condensed Consolidating Financial Statements As discussed in Note 4, DIRECTV has provided a guarantee of all the outstanding senior notes of DIRECTV Holdings LLC and DIRECTV Financing Co., Inc., or the Co-issuers. The following condensed consolidating financial statements of DIRECTV and subsidiaries have been prepared pursuant to rules regarding the preparation of consolidating financial statements of Regulation S-X. These condensed consolidating financial statements present the condensed consolidating statements of operations and condensed consolidating statements of comprehensive income for the three and six months ended June 30, 2015 and 2014, the condensed consolidating statements of cash flows for the six months ended June 30, 2015 and 2014, and the condensed consolidating balance sheets as of June 30, 2015 and December 31, 2014. The condensed consolidating statements of operations for the three and six months ended June 30, 2015, the condensed consolidating statements of comprehensive income for the three and six months ended June 30, 2015 , the condensed consolidating statement of cash flows for the six months ended June 30, 2015 and the condensed consolidating balance sheet as of June 30, 2015 have been restated from the Original 10-Q to reflect the change in the exchange rate used to remeasure the net monetary assets and liabilities of our Venezuelan subsidiary to SIMADI from SICAD, as well as the charge recorded for the impairment of fixed and intangible assets and inventory, discussed further in Note 13 below. These restatements primarily impact the "Non-Guarantor Subsidiaries" column in the condensed consolidating financial statements. In the condensed consolidating statement of operations for the three and six months ended June 30, 2015, the restatements primarily impact "Income tax benefit (expense)" for all columns due to changes in the allocation of federal and state income tax expenses based on pre-tax income. The condensed consolidating financial statements are comprised of DIRECTV, or the Parent Guarantor, its indirect 100% owned subsidiaries, DIRECTV Holdings, DIRECTV Financing and each of DIRECTV Holdings' material subsidiaries (other than DIRECTV Financing), or the Guarantor Subsidiaries, as well as other subsidiaries who are not guarantors of the senior notes, or the Non-Guarantor Subsidiaries, and the eliminations necessary to present DIRECTV's financial statements on a consolidated basis. The Non-Guarantor Subsidiaries consist primarily of DIRECTV's DTH digital television services throughout Latin America which are held by DIRECTV Latin America Holdings, Inc. and its subsidiaries, and our regional sports networks which are held by DIRECTV Sports Networks LLC and its subsidiaries. In addition, the Non-Guarantor Subsidiaries include the entity that is the parent of DIRECTV Holdings. The accompanying condensed consolidating financial statements are presented based on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for the subsidiaries' cumulative results of operations, capital contributions and distributions, and other changes in equity. Elimination entries include consolidating and eliminating entries for investments in subsidiaries, intercompany activity and balances, and income taxes. Condensed Consolidating Statement of Operations—As Restated For the Three Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — ) Upgrade and retention costs — — ) General and administrative expenses — ) Impairment of fixed and intangible assets — — — — Venezuelan currency devaluation charge — — — — Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — ) — Equity in income (loss) of consolidated subsidiaries ) — ) — Interest income — — Interest expense — ) ) ) — ) Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) before income taxes ) ) ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) ) ) ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to DIRECTV $ ) $ $ $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations For the Three Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — — Upgrade and retention costs — — — General and administrative expenses — ) Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — — Equity in income of consolidated subsidiaries — ) — Interest income — — — — Interest expense ) ) ) ) — ) Other, net ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations—As Restated For the Six Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — ) Upgrade and retention costs — — ) General and administrative expenses — ) Impairment of fixed and intangible assets — — — — Venezuelan currency devaluation charge — — — — Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — ) — Equity in income of consolidated subsidiaries — ) — Interest income — Interest expense — ) ) ) — ) Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations For the Six Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — ) Upgrade and retention costs — — ) General and administrative expenses — ) Venezuelan currency devaluation charge — — — — Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — — Equity in income of consolidated subsidiaries — ) — Interest income — — — Interest expense ) ) ) ) — ) Other, net ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income—As Restated For the Three Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income (loss) $ ) $ $ $ ) $ ) $ ) Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized gains arising during the period — ) Reclassification adjustments included in net income ) ) — ) ) Foreign currency translation adjustments — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) ) ) ) ) Comprehensive income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) attributable to DIRECTV $ ) $ $ $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income $ $ $ $ $ ) $ Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized gains arising during the period — ) Reclassification adjustments included in net income ) ) — ) ) Foreign currency translation adjustments — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income—As Restated For the Six Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income $ $ $ $ $ ) $ Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized losses arising during the period ) ) — ) ) Reclassification adjustments included in net income — ) Foreign currency translation adjustments ) — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive loss ) ) — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive loss attributable to noncontrolling interest — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income For the Six Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income $ $ $ $ $ ) $ Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized losses arising during the period ) ) — ) ) Reclassification adjustments included in net income ) ) — ) ) Foreign currency translation adjustments — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Balance Sheet—As Restated As of June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) ASSETS Total current assets $ $ $ $ $ ) $ Satellites, net — — — Property and equipment, net — — — Goodwill — — Intangible assets, net — — ) Intercompany receivables ) — Investment in subsidiaries ) — ) — Investments and other assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Total current liabilities $ $ $ $ $ ) $ Long-term debt — — — Deferred income taxes — ) Intercompany liabilities ) — Other liabilities and deferred credits ) Stockholders' equity (deficit) Common stock and additional paid-in capital ) Retained earnings (accumulated deficit) ) ) ) ) Accumulated other comprehensive income (loss) ) — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total DIRECTV stockholders' equity (deficit) ) ) ) ) Noncontrolling interest — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity (deficit) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity (deficit) $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Balance Sheet As of December 31, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) ASSETS Total current assets $ $ $ $ $ ) $ Satellites, net — — — Property and equipment, net — — — Goodwill — — Intangible assets, net — — ) Intercompany receivables ) — Investment in subsidiaries ) — ) ) — Investments and other assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Total current liabilities $ $ $ $ $ ) $ Long-term debt — — — Deferred income taxes — ) Intercompany liabilities ) — Other liabilities and deferred credits ) Stockholders' equity (deficit) Common stock and additional paid-in capital ) Retained earnings (accumulated deficit) ) ) ) ) Accumulated other comprehensive income (loss) ) — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total DIRECTV stockholders' equity (deficit) ) ) ) ) ) Noncontrolling interest — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Stockholders' equity (deficit) ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity (deficit) $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Cash Flows—As Restated For the Six Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Cash flows from operating activities Net cash provided by (used in) operating activities $ $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities Cash paid for property and equipment — — ) ) — ) Cash paid for satellites — — ) ) — ) Cash paid for short-term investments — — — ) — ) Investment in companies, net of cash acquired — — ) ) — ) Proceeds from sale of investments — — — — Intercompany payments (funding) ) ) ) — Other, net — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities Proceeds from long-term debt — — — — Repayment of long-term debt — ) — ) — ) Repayment of other long-term obligations — — ) ) — ) Stock options exercised — — — — Taxes paid in lieu of shares issued for share-based compensation ) — ) ) ) Excess tax benefit from share-based compensation — ) Intercompany payments (funding) ) ) — Cash dividend to Parent — ) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on Venezuelan cash and cash equivalents — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net increase (decrease) in cash and cash equivalents ) ) ) — ) Cash and cash equivalents at beginning of the period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of the period $ $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Cash flows from operating activities Net cash provided by (used in) operating activities $ $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities Cash paid for property and equipment — — ) ) — ) Cash paid for satellites — — ) ) — ) Investment in companies, net of cash acquired — — ) ) — ) Proceeds from sale of investments — — — Return of capital from subsidiary — — — ) — Intercompany payments (funding) ) ) — Other, net — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) investing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities Issuance of commercial paper (maturity 90 days or less), net — — — — Proceeds from short-term borrowings — — — — Repayment of short-term borrowings — ) — — — ) Proceeds from long-term debt — — — Debt issuance costs — ) — — — ) Repayment of long-term debt — ) — ) — ) Repayment of other long-term obligations — — ) ) — ) Common shares repurchased and retired ) — — — — ) Stock options exercised — — — — Taxes paid in lieu of shares issued for share-based compensation ) — ) ) ) Excess tax benefit from share-based compensation — ) Intercompany payments (funding) ) ) ) — Cash dividend to Parent — ) — — — Other, net — ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on Venezuelan cash and cash equivalents — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net increase (decrease) in cash and cash equivalents ) — Cash and cash equivalents at beginning of the period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of the period $ $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events
Subsequent Events	Note 12: Subsequent Events On July 24, 2015, we were acquired by AT&T. Under the merger agreement, each share of DIRECTV stock was exchanged for $28.50 cash plu s 1.892 shares of AT&T common stock. DIRECTV shareholders hold an approximate 16% stake in the combined company, based on AT&T's common shares outstanding. Based on AT&T's $34.29 per share closing stock price on July 24, 2015, total consideration paid to DIRECTV shareholders was $47,110 million. Our assets and liabilities are being appraised, based on third-party valuations and will be recorded in AT&T's financial statements at their respective fair values as of the date of the acquisition, July 24, 2015. • Long-lived assets such as property, plant and equipment valuations will reflect changes in technology, usage, and relative obsolescence and depreciation of the assets. • Debt instruments and investments are valued in relation to current market conditions. • Foreign holdings and operations will be valued using exchange rates as determined by current practice in the countries in which we operate, such as Argentina, Brazil, Venezuela and other countries in Latin America. These valuations could result in significant changes to our historical account balances. • Assets and liabilities will also be recorded for other identifiable intangible assets, including customer lists, trade name, and orbital slots. The value of these intangibles will be determined using AT&T's estimates of future cash flows from the existing business. • Other assets and liabilities will be valued based on AT&T's estimates. After all values have been assigned to assets and liabilitie s, the remainder of the purchase price is recorded as goodwill.

Restatement

Restatement	6 Months Ended
	Jun. 30, 2015
Restatement
Restatement	Note 13: Restatement As discussed above in Note 6, due to the continued economic uncertainty and lack of liquidity in all three of the official currency exchange mechanisms in Venezuela, effective June 30, 2015, in this amended Form 10-Q we have changed the exchange rate used to remeasure our Venezuelan subsidiary's monetary assets and liabilities into U.S. dollars from SICAD to SIMADI as of June 30, 2015. The significant change in exchange rates required us to also evaluate the recoverability of our fixed and intangible assets and inventory, and we have determined a resulting impairment charge. Accordingly, the unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2015, Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2015, Consolidated Balance Sheet as of June 30, 2015 and Consolidated Statements of Cash Flows for the six months ended June 30, 2015 have been restated from amounts previously reported to reflect this change in the exchange rate used to remeasure our Venezuelan's subsidiary's monetary assets and liabilities into U.S. dollars from SICAD to SIMADI as of June 30, 2015 and the impairment charge related to fixed assets and intangible assets and inventory. The following tables reconcile amounts previously reported to the "As Restated" amounts in the consolidated financial statements: Consolidated Statements of Operations: For the three months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Operating profit $ $ ) $ Income before income tax ) Income tax expense ) ) ) Net income (loss) attributable to DIRECTV ) ) Basic earnings (losses) attributable to DIRECTV per common share $ $ ) $ ) Diluted earnings (losses) attributable to DIRECTV per common share $ $ ) $ ) For the six months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Operating profit $ $ ) $ Income before income tax ) Income tax expense ) ) ) Net income attributable to DIRECTV ) Basic earnings attributable to DIRECTV per common share $ $ ) $ Diluted earnings attributable to DIRECTV per common share $ $ ) $ Consolidated Statements of Comprehensive Income: For the three months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Net income (loss) $ $ ) $ ) Comprehensive income (loss) ) ) Comprehensive income (loss) attributable to DIRECTV ) ) For the six months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Net income (loss) $ $ ) $ Comprehensive income (loss) ) Comprehensive income (loss) attributable to DIRECTV ) Consolidated Balance Sheet: As of June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Cash and cash equivalents $ $ ) $ Accounts receivable, net ) Inventories ) Deferred income taxes ) Prepaid expenses and other ) Total current assets ) Property and equipment, net ) Intangible assets, net ) Total assets ) Accounts payable and accrued liabilities ) Total current liabilities ) Other liabilities and deferred credits Accumulated deficit ) ) ) Total DIRECTV stockholders' deficit ) ) ) Total stockholders' deficit ) ) ) Total liabilities stockholders' deficit ) Consolidated Statements of Cash Flows: The change to the Consolidated Statements of Cash Flows for the six months ended June 30, 2015 resulted from the remeasurement of Venezuelan bolivar denominated cash balances from SICAD to SIMADI as of June 30, 2015. The $588 million decrease in "Cash and cash equivalents" in the Consolidated Balance Sheets is reflected "Effect of exchange rate changes on Venezuela cash and cash equivalents" in the Consolidated Statements of Cash Flows.

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill
Schedule of goodwill	DIRECTV Latin America Sports Networks, Eliminations and Other DIRECTV U.S. Sky Brasil PanAmericana and Other Total (Dollars in Millions) Balance as of January 1, 2015 $ $ $ $ $ Sky Brasil foreign currency translation adjustment — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2015 $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt
Schedule of outstanding debt	June 30, 2015 December 31, 2014 (Dollars in Millions) Current debt Current portion of long-term debt $ $ Current portion of borrowings under BNDES financing facility Long-term debt Senior notes Borrowings under BNDES financing facility Borrowings under Desenvolve SP financing facility ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of outstanding senior notes	Principal amount Carrying value, net of unamortized original issue discounts June 30, 2015 June 30, 2015 December 31, 2014 (Dollars in Millions) 3.550% senior notes due in 2015 $ — $ — $ 3.125% senior notes due in 2016 3.500% senior notes due in 2016 2.400% senior notes due in 2017 1.750% senior notes due in 2018 5.875% senior notes due in 2019 5.200% senior notes due in 2020 4.600% senior notes due in 2021 5.000% senior notes due in 2021(1) 3.800% senior notes due in 2022(1) 2.750% senior notes due in 2023(2) 4.450% senior notes due in 2024(1) 3.950% senior notes due in 2025 4.375% senior notes due in 2029(2) 5.200% senior notes due in 2033(2) 6.350% senior notes due in 2040 6.000% senior notes due in 2040 6.375% senior notes due in 2041 5.150% senior notes due in 2042 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total senior notes $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The carrying values as of June 30, 2015 and December 31, 2014 include the following fair value adjustments, respectively: increases of $11 million and $10 million for the 5.000% senior notes due in 2021, increases of $21 million and $20 million for the 3.800% senior notes due in 2022 and increases of $42 million and $39 million for the 4.450% senior notes due in 2024. (2) These amounts reflect the remeasurement of the aggregate principal and carrying value of our foreign currency denominated senior notes to U.S. dollars based on the exchange rates in effect at each of the dates presented.

Derivative Financial Instrume22

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Financial Instruments
Schedule of fair values of assets and liabilities associated with the derivative financial instruments	Assets Liabilities June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 (Dollars in millions) Cash flow hedges: Cross-currency swap contracts $ $ $ $ Fair value hedges: Interest rate swap contracts — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative financial instruments $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of notional amounts of outstanding derivative financial instruments	June 30, 2015 December 31, 2014 (Dollars in millions) Cash flow hedges: Cross-currency swap contracts $ $ Fair value hedges: Interest rate swap contracts — ​ ​ ​ ​ ​ ​ ​ ​ Total notional amount of derivative financial instruments $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions
Summary of revenues and expenses with related parties	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in Millions) Revenues $ $ $ $ Expenses
Schedule of accounts receivable from and accounts payable to related parties	June 30, 2015 December 31, 2014 (Dollars in Millions) Accounts receivable $ $ Prepaid expenses and other — Accounts payable Short-term liability Long-term liability

Stockholders' Deficit and Non24

Stockholders' Deficit and Noncontrolling Interest (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Deficit and Noncontrolling Interest
Schedule of reconciliation of stockholders' deficit	Stockholders' Deficit DIRECTV Common Shares Common Stock and Additional Paid-In Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total DIRECTV Stockholders' Deficit Noncontrolling Interest Total Stockholders' Deficit (Amounts in Millions, Except Share Data) Balance as of January 1, 2015 $ $ ) $ ) $ ) $ $ ) Net income Stock options exercised and restricted stock units vested and distributed ) ) ) Share-based compensation expense Tax benefit from share-based compensation Other Other comprehensive loss ) ) ) CTA adjustment allocated to noncontrolling interest ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2015 $ $ ) $ ) $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholders' Deficit DIRECTV Common Shares Common Stock and Additional Paid-In Capital Accumulated Deficit Accumulated Other Comprehensive Loss Total DIRECTV Stockholders' Deficit Noncontrolling Interest Total Stockholders' Deficit Redeemable Noncontrolling Interest (Amounts in Millions, Except Share Data) Balance as of January 1, 2014 $ $ ) $ ) $ ) $ — $ ) $ Net income Stock repurchased and retired ) ) ) ) ) Stock options exercised and restricted stock units vested and distributed ) ) ) Share-based compensation expense Tax benefit from share-based compensation Other ) ) ) Other comprehensive income CTA adjustment allocated to noncontrolling interest Noncontrolling interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2014 $ $ ) $ ) $ ) $ $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of other comprehensive income (loss)	Three Months Ended June 30, 2015 2014 Pre-Tax Tax Benefit (Expense) Net of Tax Pre-Tax Tax Benefit (Expense) Net of Tax (Dollars in Millions) Cash flows hedges: Unrealized gains arising during the period $ $ ) $ $ $ ) $ Reclassification adjustments included in "Other, net" ) ) ) ) Foreign currency translation adjustments ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income $ $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 2015 2014 Pre-Tax Tax Benefit (Expense) Net of Tax Pre-Tax Tax Benefit (Expense) Net of Tax (Dollars in Millions) Cash flows hedges: Unrealized losses arising during the period $ ) $ $ ) $ ) $ $ ) Reclassification adjustments included in "Other, net" ) ) ) Foreign currency translation adjustments ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) $ ) $ $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of changes in the components of accumulated other comprehensive income (loss)	Defined Benefit Plan Items Gains (Losses) on Cash Flow Hedges Foreign Currency Items Accumulated Other Comprehensive Loss (Dollars in Millions) Balance as of January 1, 2015 $ ) $ $ ) $ ) Other comprehensive loss — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2015 $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit Plan Items Gains (Losses) on Cash Flow Hedges Foreign Currency Items Accumulated Other Comprehensive Loss (Dollars in Millions) Balance as of January 1, 2014 $ ) $ $ ) $ ) Other comprehensive income (loss) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of June 30, 2014 $ ) $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Common Share
Schedule of reconciliation of the amounts used in the basic and diluted EPS	Income Shares Per Share Amounts (Dollars and Shares in Millions, Except Per Share Amounts) Three Months Ended June 30, 2015 Basic EPS Net income (loss) attributable to DIRECTV $ ) $ ) Effect of dilutive securities Dilutive effect of stock options and restricted stock units — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income (loss) attributable to DIRECTV $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 Basic EPS Net income attributable to DIRECTV $ $ Effect of dilutive securities Dilutive effect of stock options and restricted stock units — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income attributable to DIRECTV $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Shares Per Share Amounts (Dollars and Shares in Millions, Except Per Share Amounts) Six Months Ended June 30, 2015 Basic EPS Net income attributable to DIRECTV $ $ Effect of dilutive securities Dilutive effect of stock options and restricted stock units — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income attributable to DIRECTV $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 Basic EPS Net income attributable to DIRECTV $ $ Effect of dilutive securities Dilutive effect of stock options and restricted stock units — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted EPS Adjusted net income attributable to DIRECTV $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting
Selected information for operating segments	External Revenues Intersegment Revenues Total Revenues Operating Profit (Loss) Depreciation and Amortization Expense Operating Profit (Loss) Before Depreciation and Amortization(1) (Dollars in Millions) Three Months Ended June 30, 2015 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana and Other — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — ) ) Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana and Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External Revenues Intersegment Revenues Total Revenues Operating Profit (Loss) Depreciation and Amortization Expense Operating Profit (Loss) Before Depreciation and Amortization(1) (Dollars in Millions) Six Months Ended June 30, 2015 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — ) ) Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2014 DIRECTV U.S. $ $ $ $ $ $ Sky Brasil — PanAmericana — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECTV Latin America — Sports Networks, Eliminations and Other ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ — $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Operating profit (loss) before depreciation and amortization, which is a financial measure that is not determined in accordance with GAAP can be calculated by adding amounts under the caption "Depreciation and amortization expense" to "Operating profit (loss)." This measure should be used in conjunction with GAAP financial measures and is not presented as an alternative measure of operating results, as determined in accordance with GAAP. Our management and Board of Directors use operating profit before depreciation and amortization to evaluate the operating performance of our company and our business segments and to allocate resources and capital to business segments. This metric is also used as a measure of performance for incentive compensation purposes and to measure income generated from operations that could be used to fund capital expenditures, service debt or pay taxes. Depreciation and amortization expense primarily represents an allocation to current expense of the cost of historical capital expenditures and for intangible assets resulting from prior business acquisitions. To compensate for the exclusion of depreciation and amortization expense from operating profit, our management and Board of Directors separately measure and budget for capital expenditures and business acquisitions. We believe this measure is useful to investors, along with GAAP measures (such as revenues, operating profit and net income), to compare our operating performance to other communications, entertainment and media service providers. We believe that investors use current and projected operating profit before depreciation and amortization and similar measures to estimate our current or prospective enterprise value and make investment decisions. This metric provides investors with a means to compare operating results exclusive of depreciation and amortization. Our management believes this is useful given the significant variation in depreciation and amortization expense that can result from the timing of capital expenditures, the capitalization of intangible assets, potential variations in expected useful lives when compared to other companies and periodic changes to estimated useful lives.
Reconciliation of operating profit before depreciation and amortization to reported net income	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in Millions) Operating profit before depreciation and amortization $ $ $ $ Depreciation and amortization ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit Interest income Interest expense ) ) ) ) Other, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes Income tax expense ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) Less: Net income attributable to noncontrolling interest ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to DIRECTV $ ) $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Condensed Consolidating Finan27

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Consolidating Financial Statements
Schedule of Condensed Consolidating Statement of Operations	Condensed Consolidating Statement of Operations—As Restated For the Three Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — ) Upgrade and retention costs — — ) General and administrative expenses — ) Impairment of fixed and intangible assets — — — — Venezuelan currency devaluation charge — — — — Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — ) — Equity in income (loss) of consolidated subsidiaries ) — ) — Interest income — — Interest expense — ) ) ) — ) Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) before income taxes ) ) ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) ) ) ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to DIRECTV $ ) $ $ $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations For the Three Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — — Upgrade and retention costs — — — General and administrative expenses — ) Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — — Equity in income of consolidated subsidiaries — ) — Interest income — — — — Interest expense ) ) ) ) — ) Other, net ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations—As Restated For the Six Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — ) Upgrade and retention costs — — ) General and administrative expenses — ) Impairment of fixed and intangible assets — — — — Venezuelan currency devaluation charge — — — — Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — ) — Equity in income of consolidated subsidiaries — ) — Interest income — Interest expense — ) ) ) — ) Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Operations For the Six Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Revenues $ — $ — $ $ $ ) $ Operating costs and expenses Costs of revenues, exclusive of depreciation and amortization expense Broadcast programming and other — — ) Subscriber service expenses — — ) Broadcast operations expenses — — ) Selling, general and administrative expenses, exclusive of depreciation and amortization expense Subscriber acquisition costs — — ) Upgrade and retention costs — — ) General and administrative expenses — ) Venezuelan currency devaluation charge — — — — Depreciation and amortization expense — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total operating costs and expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating profit (loss) ) — — Equity in income of consolidated subsidiaries — ) — Interest income — — — Interest expense ) ) ) ) — ) Other, net ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ) Income tax benefit (expense) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) Less: Net income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Condensed Consolidating Statement of Comprehensive Income	Condensed Consolidating Statement of Comprehensive Income—As Restated For the Three Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income (loss) $ ) $ $ $ ) $ ) $ ) Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized gains arising during the period — ) Reclassification adjustments included in net income ) ) — ) ) Foreign currency translation adjustments — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) ) ) ) ) Comprehensive income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) attributable to DIRECTV $ ) $ $ $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income $ $ $ $ $ ) $ Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized gains arising during the period — ) Reclassification adjustments included in net income ) ) — ) ) Foreign currency translation adjustments — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income—As Restated For the Six Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income $ $ $ $ $ ) $ Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized losses arising during the period ) ) — ) ) Reclassification adjustments included in net income — ) Foreign currency translation adjustments ) — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive loss ) ) — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive loss attributable to noncontrolling interest — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Comprehensive Income For the Six Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Net income $ $ $ $ $ ) $ Other comprehensive income (loss), net of taxes: Cash flows hedges: Unrealized losses arising during the period ) ) — ) ) Reclassification adjustments included in net income ) ) — ) ) Foreign currency translation adjustments — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interest — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to DIRECTV $ $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet—As Restated As of June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) ASSETS Total current assets $ $ $ $ $ ) $ Satellites, net — — — Property and equipment, net — — — Goodwill — — Intangible assets, net — — ) Intercompany receivables ) — Investment in subsidiaries ) — ) — Investments and other assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Total current liabilities $ $ $ $ $ ) $ Long-term debt — — — Deferred income taxes — ) Intercompany liabilities ) — Other liabilities and deferred credits ) Stockholders' equity (deficit) Common stock and additional paid-in capital ) Retained earnings (accumulated deficit) ) ) ) ) Accumulated other comprehensive income (loss) ) — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total DIRECTV stockholders' equity (deficit) ) ) ) ) Noncontrolling interest — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity (deficit) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity (deficit) $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Balance Sheet As of December 31, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) ASSETS Total current assets $ $ $ $ $ ) $ Satellites, net — — — Property and equipment, net — — — Goodwill — — Intangible assets, net — — ) Intercompany receivables ) — Investment in subsidiaries ) — ) ) — Investments and other assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Total current liabilities $ $ $ $ $ ) $ Long-term debt — — — Deferred income taxes — ) Intercompany liabilities ) — Other liabilities and deferred credits ) Stockholders' equity (deficit) Common stock and additional paid-in capital ) Retained earnings (accumulated deficit) ) ) ) ) Accumulated other comprehensive income (loss) ) — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total DIRECTV stockholders' equity (deficit) ) ) ) ) ) Noncontrolling interest — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Stockholders' equity (deficit) ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity (deficit) $ ) $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows—As Restated For the Six Months Ended June 30, 2015 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Cash flows from operating activities Net cash provided by (used in) operating activities $ $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities Cash paid for property and equipment — — ) ) — ) Cash paid for satellites — — ) ) — ) Cash paid for short-term investments — — — ) — ) Investment in companies, net of cash acquired — — ) ) — ) Proceeds from sale of investments — — — — Intercompany payments (funding) ) ) ) — Other, net — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities Proceeds from long-term debt — — — — Repayment of long-term debt — ) — ) — ) Repayment of other long-term obligations — — ) ) — ) Stock options exercised — — — — Taxes paid in lieu of shares issued for share-based compensation ) — ) ) ) Excess tax benefit from share-based compensation — ) Intercompany payments (funding) ) ) — Cash dividend to Parent — ) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on Venezuelan cash and cash equivalents — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net increase (decrease) in cash and cash equivalents ) ) ) — ) Cash and cash equivalents at beginning of the period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of the period $ $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 30, 2014 Parent Guarantor Co-Issuers Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations DIRECTV Consolidated (Dollars in Millions) Cash flows from operating activities Net cash provided by (used in) operating activities $ $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities Cash paid for property and equipment — — ) ) — ) Cash paid for satellites — — ) ) — ) Investment in companies, net of cash acquired — — ) ) — ) Proceeds from sale of investments — — — Return of capital from subsidiary — — — ) — Intercompany payments (funding) ) ) — Other, net — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) investing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities Issuance of commercial paper (maturity 90 days or less), net — — — — Proceeds from short-term borrowings — — — — Repayment of short-term borrowings — ) — — — ) Proceeds from long-term debt — — — Debt issuance costs — ) — — — ) Repayment of long-term debt — ) — ) — ) Repayment of other long-term obligations — — ) ) — ) Common shares repurchased and retired ) — — — — ) Stock options exercised — — — — Taxes paid in lieu of shares issued for share-based compensation ) — ) ) ) Excess tax benefit from share-based compensation — ) Intercompany payments (funding) ) ) ) — Cash dividend to Parent — ) — — — Other, net — ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on Venezuelan cash and cash equivalents — — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net increase (decrease) in cash and cash equivalents ) — Cash and cash equivalents at beginning of the period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of the period $ $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Restatement (Tables)

Restatement (Tables)	6 Months Ended
	Jun. 30, 2015
Restatement
Schedule of reconciliation of the amounts previously reported to revised amounts as stated in the Condensed Consolidating Statement of Operations	For the three months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Operating profit $ $ ) $ Income before income tax ) Income tax expense ) ) ) Net income (loss) attributable to DIRECTV ) ) Basic earnings (losses) attributable to DIRECTV per common share $ $ ) $ ) Diluted earnings (losses) attributable to DIRECTV per common share $ $ ) $ ) For the six months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Operating profit $ $ ) $ Income before income tax ) Income tax expense ) ) ) Net income attributable to DIRECTV ) Basic earnings attributable to DIRECTV per common share $ $ ) $ Diluted earnings attributable to DIRECTV per common share $ $ ) $
Schedule of reconciliation of the amounts previously reported to revised amounts as stated in the Condensed Consolidating Statement of Comprehensive Income	For the three months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Net income (loss) $ $ ) $ ) Comprehensive income (loss) ) ) Comprehensive income (loss) attributable to DIRECTV ) ) For the six months ended June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Net income (loss) $ $ ) $ Comprehensive income (loss) ) Comprehensive income (loss) attributable to DIRECTV )
Schedule of reconciliation of the amounts previously reported to revised amounts as stated in the Condensed Consolidating Balance Sheets	As of June 30, 2015 As Previously Reported Adjustments As Restated (Dollars in Millions) Cash and cash equivalents $ $ ) $ Accounts receivable, net ) Inventories ) Deferred income taxes ) Prepaid expenses and other ) Total current assets ) Property and equipment, net ) Intangible assets, net ) Total assets ) Accounts payable and accrued liabilities ) Total current liabilities ) Other liabilities and deferred credits Accumulated deficit ) ) ) Total DIRECTV stockholders' deficit ) ) ) Total stockholders' deficit ) ) ) Total liabilities stockholders' deficit )

Description of Business and B29

Description of Business and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2015item
Description of Business and Basis of Presentation
Number of regional sports networks owned and operated by the entity	2
Game Show Network, LLC
Ownership interests
Ownership percentage of equity method investment	42.00%
Sky Brasil
Ownership interests
Ownership percentage in subsidiary	93.00%
Sky Mexico
Ownership interests
Ownership percentage of equity method investment	41.00%

Goodwill (Details)

Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Changes in the carrying amounts of goodwill
Goodwill, beginning balance	$ 3,929
Sky Brasil foreign currency translation adjustment	(44)
Goodwill, ending balance	3,885
DIRECTV U.S.
Changes in the carrying amounts of goodwill
Goodwill, beginning balance	3,191
Goodwill, ending balance	3,191
Sky Brasil
Changes in the carrying amounts of goodwill
Goodwill, beginning balance	305
Sky Brasil foreign currency translation adjustment	(44)
Goodwill, ending balance	261
PanAmericana and Other
Changes in the carrying amounts of goodwill
Goodwill, beginning balance	211
Goodwill, ending balance	211
Sports Networks, Eliminations and Other
Changes in the carrying amounts of goodwill
Goodwill, beginning balance	222
Goodwill, ending balance	$ 222

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt instrument
Current debt, Current portion of long-term debt	$ 2,250	$ 1,200
Long-term debt, Senior notes	17,053	19,327
Total debt	19,512	20,812
Interest accrued on outstanding debt	322	278
BNDES Financing Facility
Debt instrument
Current debt, Current portion of borrowings under financing facility	105	127
Long-term debt, borrowings under financing facility	73	140
Desenvolve SP financing facility
Debt instrument
Long-term debt, borrowings under financing facility	$ 31	$ 18

Debt (Details 2)

Debt (Details 2) - USD ($) $ in Millions	Mar. 20, 2014	Mar. 17, 2014	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Debt instrument
Repayment of senior notes					$ 1,255	$ 1,026
Principal amount					19,286
Senior notes					19,303		$ 20,527
Proceeds, net of discount					$ 20	$ 1,329
Senior notes 3.550% due 2015
Debt instrument
Repayment of senior notes			$ 1,200
Senior notes							1,200
Senior note, interest rate (as a percent)			3.55%		3.55%
Senior notes 4.750% due 2014
Debt instrument
Principal amount	$ 1,000
Cash payment to redeem Notes				$ 1,022
Senior note, interest rate (as a percent)	4.75%
Senior notes 4.750% due 2014 | Treasury Rate
Debt instrument
Interest rate added to variable base rate (as a percent)	0.40%
Senior notes 3.125% due 2016
Debt instrument
Principal amount					$ 750
Senior notes					$ 750		750
Senior note, interest rate (as a percent)					3.125%
Senior notes 3.500% due 2016
Debt instrument
Principal amount					$ 1,500
Senior notes					$ 1,500		1,499
Senior note, interest rate (as a percent)					3.50%
Senior notes 2.400% due 2017
Debt instrument
Principal amount					$ 1,250
Senior notes					$ 1,249		1,249
Senior note, interest rate (as a percent)					2.40%
Senior notes 1.750% due in 2018
Debt instrument
Principal amount					$ 750
Senior notes					$ 746		746
Senior note, interest rate (as a percent)					1.75%
Senior notes 5.875% due 2019
Debt instrument
Principal amount					$ 1,000
Senior notes					$ 997		996
Senior note, interest rate (as a percent)					5.875%
Senior notes 5.200% Due 2020
Debt instrument
Principal amount					$ 1,300
Senior notes					$ 1,299		1,299
Senior note, interest rate (as a percent)					5.20%
Senior notes 4.600% due 2021
Debt instrument
Principal amount					$ 1,000
Senior notes					$ 1,000		999
Senior note, interest rate (as a percent)					4.60%
Senior notes 5.000% due 2021
Debt instrument
Principal amount					$ 1,500
Senior notes					$ 1,507		1,506
Senior note, interest rate (as a percent)					5.00%
Fair value adjustment					$ 11		10
Senior notes 3.800% due 2022
Debt instrument
Principal amount					1,500
Senior notes					$ 1,521		1,520
Senior note, interest rate (as a percent)					3.80%
Fair value adjustment					$ 21		20
Senior notes 2.750% due 2023
Debt instrument
Principal amount					557
Senior notes					$ 555		602
Senior note, interest rate (as a percent)					2.75%
Senior notes 4.450% due 2024
Debt instrument
Principal amount		$ 1,250			$ 1,250
Senior notes					$ 1,288		1,285
Senior note, interest rate (as a percent)		4.45%			4.45%
Proceeds, net of discount		$ 1,245
Debt issuance costs		$ 7
Fair value adjustment					$ 42		39
Senior notes 3.950% due 2025
Debt instrument
Principal amount					1,200
Senior notes					$ 1,192		1,192
Senior note, interest rate (as a percent)					3.95%
Senior notes 4.375% due 2029
Debt instrument
Principal amount					$ 1,179
Senior notes					$ 1,167		1,157
Senior note, interest rate (as a percent)					4.375%
Senior notes 5.200% due 2033
Debt instrument
Principal amount					$ 550
Senior notes					$ 548		543
Senior note, interest rate (as a percent)					5.20%
Senior notes 6.350% due 2040
Debt instrument
Principal amount					$ 500
Senior notes					$ 500		500
Senior note, interest rate (as a percent)					6.35%
Senior notes 6.000% due 2040
Debt instrument
Principal amount					$ 1,250
Senior notes					$ 1,236		1,236
Senior note, interest rate (as a percent)					6.00%
Senior notes 6.375% due 2041
Debt instrument
Principal amount					$ 1,000
Senior notes					$ 1,000		1,000
Senior note, interest rate (as a percent)					6.375%
Senior notes 5.150% due 2042
Debt instrument
Principal amount					$ 1,250
Senior notes					$ 1,248		$ 1,248
Senior note, interest rate (as a percent)					5.15%

Debt (Details 3)

Debt (Details 3) BRL in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015BRLBRL / $	Dec. 31, 2014BRLitemBRL / $	Jul. 24, 2015USD ($)	Jun. 30, 2015USD ($)BRL / $	Dec. 31, 2014USD ($)itemBRL / $
Debt instrument
Senior notes, fair value				$ 20,154	$ 22,044
2,016				2,250
2,017				1,250
2,018				750
2,019				1,000
2,020				1,300
Thereafter				12,736
Restricted cash				13	10
Commercial Paper.
Debt instrument
Borrowing capacity under credit facility			$ 0	2,500
Desenvolve SP financing facility | Sky Brasil
Debt instrument
2,019	BRL 48			15
2,020	BRL 50			16
Installment period of repayment from date of each borrowing	5 years
Loans outstanding	BRL 98	BRL 48		$ 31	$ 18
U.S. dollars based exchange rate | BRL / $	3.10	2.66		3.10	2.66
Weighted-average interest rate (as a percent)	2.50%	2.50%
BNDES Financing Facility | Sky Brasil
Debt instrument
2,015	BRL 174			$ 56
2,016	273			88
2,017	102			33
2,018	3			1
Loans outstanding	BRL 552	BRL 710		$ 178	$ 267
U.S. dollars based exchange rate | BRL / $	3.10	2.66		3.10	2.66
Weighted-average interest rate (as a percent)	5.40%	5.11%
Number of monthly installments to repay borrowings | item		30			30
BNDES Financing Facility | Sky Brasil | Set-top receivers
Debt instrument
U.S. dollars based exchange rate | BRL / $	3.10			3.10
Original purchase price	BRL 1,037			$ 335

Derivative Financial Instrume34

Derivative Financial Instruments (Details) € in Millions, £ in Millions, $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Jan. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015GBP (£)	Jun. 30, 2015EUR (€)	Jun. 30, 2015USD ($)	Mar. 17, 2014USD ($)
Derivative financial instruments
Total fair value of derivative financial instruments, Assets							$ 20			$ 3
Total fair value of derivative financial instruments, Liabilities							30			81
Derivative financial instruments
Total notional amount of derivative financial instruments							5,418			2,418
Principal										19,286
Amount reclassified from accumulated other comprehensive gain (loss) into other, net		$ 119		$ 45	$ (32)	$ 58
Net foreign currency transaction gains (losses)					64	(11)
After tax gain (loss) reclassified from accumulated other comprehensive loss into other, net		$ (74)		$ (28)	20	(36)
Senior notes 4.375% due 2029
Derivative financial instruments
Principal										$ 1,179
Senior note, interest rate (as a percent)								4.375%	4.375%	4.375%
Senior notes 2.750% due 2023
Derivative financial instruments
Principal										$ 557
Senior note, interest rate (as a percent)								2.75%	2.75%	2.75%
Senior notes 5.200% due 2033
Derivative financial instruments
Principal										$ 550
Senior note, interest rate (as a percent)								5.20%	5.20%	5.20%
Senior notes 4.450% due 2024
Derivative financial instruments
Principal										$ 1,250	$ 1,250
Senior note, interest rate (as a percent)								4.45%	4.45%	4.45%	4.45%
Senior notes 5.000% due 2021
Derivative financial instruments
Principal										$ 1,500
Senior note, interest rate (as a percent)								5.00%	5.00%	5.00%
Senior notes 3.800% due 2022
Derivative financial instruments
Principal										$ 1,500
Senior note, interest rate (as a percent)								3.80%	3.80%	3.80%
Cash flow hedges
Derivative financial instruments
Cash collateral from counterparties							0			$ 0
Cross-currency swap contracts | Senior notes 4.375% due 2029
Derivative financial instruments
Principal | £								£ 750
Senior note, interest rate (as a percent)								4.375%	4.375%	4.375%
Cross-currency swap contracts | Senior notes 2.750% due 2023
Derivative financial instruments
Principal | €									€ 500
Senior note, interest rate (as a percent)								2.75%	2.75%	2.75%
Cross-currency swap contracts | Senior notes 5.200% due 2033
Derivative financial instruments
Principal | £								£ 350
Senior note, interest rate (as a percent)								5.20%	5.20%	5.20%
Cross-currency swap contracts | Cash flow hedges
Derivative financial instruments
Assets							8			$ 3
Liabilities							24			81
Derivative financial instruments
Total notional amount of derivative financial instruments							2,418			$ 2,418
Amount reclassified from accumulated other comprehensive gain (loss) into other, net					32	(58)
Net foreign currency transaction gains (losses)					(32)	58
After tax gain (loss) reclassified from accumulated other comprehensive loss into other, net					(20)	$ 36
Interest rate swaps | Cash flow hedges | Senior notes 4.450% due 2024
Derivative financial instruments
Amount recorded in "Accumulated other comprehensive loss"					8
Interest rate swaps | Fair value hedges
Derivative financial instruments
Interest rate swap contracts, Assets							12
Liabilities							6
Derivative financial instruments
Total notional amount of derivative financial instruments							3,000
Forward-starting interest rate swap contracts | Cash flow hedges | Senior notes 4.450% due 2024
Derivative financial instruments
Senior note, interest rate (as a percent)								4.45%	4.45%	4.45%
Amount of ineffectiveness measured							$ 1
Forward-starting interest rate swap contracts | Fair value hedges | Senior notes 4.450% due 2024
Derivative financial instruments
Senior note, interest rate (as a percent)							4.45%
Fixed-to-floating interest rate swap contracts | Senior notes 5.000% due in 2021 and senior notes 3.800% due in 2022
Derivative financial instruments
Increase in carrying amount of debt instrument					$ 74
Fixed-to-floating interest rate swap contracts | Fair value hedges
Derivative financial instruments
Amount of ineffectiveness measured			$ 2
Fixed-to-floating interest rate swap contracts | Fair value hedges | Senior notes 5.000% due 2021
Derivative financial instruments
Total notional amount of derivative financial instruments							$ 3,000
Senior note, interest rate (as a percent)							5.00%
Fixed-to-floating interest rate swap contracts | Fair value hedges | Senior notes 3.800% due 2022
Derivative financial instruments
Senior note, interest rate (as a percent)							3.80%
Fixed-to-floating interest rate swap contracts | Fair value hedges | Senior notes 5.000% due in 2021 and senior notes 3.800% due in 2022
Derivative financial instruments
Aggregate cash proceeds received	$ 18

Contingencies (Details)

Contingencies (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015USD ($)VEF / $	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)VEF / $	Jun. 30, 2015USD ($)VEF / $	Jun. 30, 2014USD ($)	Mar. 31, 2015VEF / $
Loss contingencies
Exchange rate set by the Venezuelan government (in bolivars fuerte per U.S. dollar) | VEF / $	6.3			6.3
Pre-tax charge related to asset impairment and currency devalution remeasurement loss	$ 1,060
Impairment of fixed and intangible assets	533			$ 533
Pre-tax charge related to remeasurement of bolivar denominated net monetary assets due to devaluation	519		$ 281	519	$ 281
Venezuelan bolivars fuerte denominated operating profit before depreciation and amortization	1,050	$ 2,153		3,167	$ 4,094
In-orbit satellites, net book value	2,047			2,047
Other
Investment carrying value	147			147
Contingent liability for standby letters of credit	361			361
Venezuelan Subsidiary
Loss contingencies
Venezuelan bolivars fuerte denominated Revenue	250			500
Venezuelan bolivars fuerte denominated operating profit before depreciation and amortization	80			$ 180
General and Administrative Expenses
Loss contingencies
Loss due to change in exchange rate	$ 39
SICAD 1
Loss contingencies
Exchange rate (in bolivars fuerte per U.S. dollar) | VEF / $	12.8		10.7	12.8		12
SIMADI
Loss contingencies
Exchange rate (in bolivars fuerte per U.S. dollar) | VEF / $	197.7			197.7

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transactions
Revenues	$ 3	$ 2	$ 5	$ 4
Expenses	263	$ 300	504	$ 541
Accounts receivable	7		7		$ 26
Prepaid expenses and other	4		4
Accounts payable	128		128		123
Short-term liability	169		169		149
Long-term liability	$ 1		$ 1		$ 1

Stockholders' Deficit and Non37

Stockholders' Deficit and Noncontrolling Interest (Details)	6 Months Ended
	Jun. 30, 2015item$ / sharesshares	Dec. 31, 2014$ / sharesshares
Stockholders' Deficit and Noncontrolling Interest
Common stock, shares authorized	3,950,000,000	3,950,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01
Preferred stock, shares outstanding	0	0
Number of votes per share of common stock | item	1

Stockholders' Deficit and Non38

Stockholders' Deficit and Noncontrolling Interest (Details 2) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Feb. 28, 2014
Information regarding shares repurchased and retired
Total cost of repurchased shares	$ 1,386
Amount paid for stock repurchases	1,386
Noncontrolling interest	$ 375
Sky Brasil
Information regarding shares repurchased and retired
Estimated fair value of Globo's interest in Sky Brasil		$ 375
Noncontrolling interest, ownership percentage		7.00%
Maximum
Information regarding shares repurchased and retired
Stock repurchases authorized			$ 3,500

Stockholders' Deficit and Non39

Stockholders' Deficit and Noncontrolling Interest (Details 3) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity
Beginning balance (in shares)			502,733,342
Balance			$ (4,828)	$ (6,544)
Net Income	$ (358)	$ 810	372	1,379
Stock repurchased and retired				(1,386)
Stock options exercised and restricted stock units vested and distributed			(53)	(46)
Share-based compensation expense			53	45
Tax benefit from share-based compensation			31	22
Other			1	(13)
Other comprehensive income (loss)	$ 25	10	(134)	34
CTA adjustment allocated to noncontrolling interest			$ (13)	7
Noncontrolling interest				375
Ending balance (in shares)	504,511,567		504,511,567
Balance	$ (4,571)	$ (6,127)	$ (4,571)	$ (6,127)
DIRECTV Common Shares
Increase (Decrease) in Stockholders' Equity
Beginning balance (in shares)			502,733,342	519,306,232
Stock repurchased and retired (in shares)				(18,774,194)
Stock options exercised and restricted stock units vested and distributed (in shares)			1,778,225	1,693,808
Ending balance (in shares)	504,511,567	502,225,846	504,511,567	502,225,846
Common Stock and Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity
Balance			$ 3,613	$ 3,652
Stock repurchased and retired				(130)
Stock options exercised and restricted stock units vested and distributed			(53)	(46)
Share-based compensation expense			53	45
Tax benefit from share-based compensation			31	22
Other			1	1
Balance	$ 3,645	$ 3,544	3,645	3,544
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity
Balance			(8,408)	(9,874)
Net Income			369	1,367
Stock repurchased and retired				(1,256)
Other				(14)
Balance	(8,039)	(9,777)	(8,039)	(9,777)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity
Balance			(418)	(322)
Other comprehensive income (loss)			(134)	34
Balance	(552)	(288)	(552)	(288)
Total Stockholder's Deficit
Increase (Decrease) in Stockholders' Equity
Balance			(5,213)	(6,544)
Net Income			369	1,367
Stock repurchased and retired				(1,386)
Stock options exercised and restricted stock units vested and distributed			(53)	(46)
Share-based compensation expense			53	45
Tax benefit from share-based compensation			31	22
Other			1	(13)
Other comprehensive income (loss)			(134)	34
Balance	(4,946)	(6,521)	(4,946)	(6,521)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity
Balance			385
Net Income			3	12
CTA adjustment allocated to noncontrolling interest			(13)	7
Noncontrolling interest				375
Balance	$ 375	$ 394	$ 375	$ 394

Stockholders' Deficit and Non40

Stockholders' Deficit and Noncontrolling Interest (Details 4) $ in Millions	6 Months Ended
	Jun. 30, 2014USD ($)
Change in the redeemable noncontrolling interest
Noncontrolling interest	$ 375
Redeemable Noncontrolling Interest
Change in the redeemable noncontrolling interest
Beginning balance, Redeemable Noncontrolling Interest	375
Noncontrolling interest	$ (375)

Stockholders' Deficit and Non41

Stockholders' Deficit and Noncontrolling Interest (Details 5) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Unrealized gains (losses) arising during the period
Pre-Tax	$ 132	$ 10	$ (62)	$ (2)
Tax Benefit (Expense)	(49)	(4)	24	1
Net of Tax	83	6	(38)	(1)
Reclassification adjustments included in "Other, net"
Pre-Tax	(119)	(45)	32	(58)
Tax Benefit (Expense)	45	17	(12)	22
Net of Tax	(74)	(28)	20	(36)
Foreign currency translation adjustments
Pre-Tax	37	58	(181)	121
Tax Benefit (Expense)	(21)	(26)	65	(50)
Net of Tax	16	32	(116)	71
Other comprehensive loss
Pre-Tax	50	23	(211)	61
Tax Benefit (Expense)	(25)	(13)	77	(27)
Other comprehensive income (loss)	25	10	(134)	34
Changes in accumulated other comprehensive loss
Balance at the beginning of the period			(418)	(322)
Other comprehensive income (loss)	25	10	(134)	34
Balance at the end of the period	(552)	(288)	(552)	(288)
Defined Benefit Plan Items
Changes in accumulated other comprehensive loss
Balance at the beginning of the period			(141)	(123)
Balance at the end of the period	(141)	(123)	(141)	(123)
Cash flow hedges
Other comprehensive loss
Other comprehensive income (loss)			(18)	(37)
Changes in accumulated other comprehensive loss
Balance at the beginning of the period			44	14
Other comprehensive income (loss)			(18)	(37)
Balance at the end of the period	26	(23)	26	(23)
Foreign Currency Items
Other comprehensive loss
Other comprehensive income (loss)			(116)	71
Changes in accumulated other comprehensive loss
Balance at the beginning of the period			(321)	(213)
Other comprehensive income (loss)			(116)	71
Balance at the end of the period	$ (437)	$ (142)	$ (437)	$ (142)

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic EPS
Net income (loss) attributable to DIRECTV	$ (361)	$ 806	$ 369	$ 1,367
Weighted average number of common shares outstanding	504	504	504	507
Earnings per share attributable to DIRECTV (in dollars per share)	$ (0.72)	$ 1.60	$ 0.73	$ 2.70
Effect of dilutive securities
Dilutive effect of stock options and restricted stock units (in shares)		4	4	5
Dilutive effect of stock options and restricted stock units, per share amount (in dollars per share)		$ (0.01)		$ (0.03)
Diluted EPS
Adjusted net income (loss) attributable to DIRECTV	$ (361)	$ 806	$ 369	$ 1,367
Weighted average number of common shares outstanding	504	508	508	512
Net Income (in dollars per share)	$ (0.72)	$ 1.59	$ 0.73	$ 2.67
Common stock options excluded from the computation of diluted EPS (in shares)	0.2	0.2	0.2	0.2

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment reporting information
Revenue	$ 8,441	$ 8,109	$ 16,584	$ 15,964
Operating profit (loss)	329	1,424	1,716	2,651
Depreciation and amortization expense	721	729	1,451	1,443
Operating profit (loss) before depreciation and amortization	1,050	2,153	3,167	4,094
DIRECTV Latin America
Segment reporting information
Revenue	1,676	1,789	3,311	3,510
Operating profit (loss)	(1,001)	142	(845)	116
Depreciation and amortization expense	286	296	575	581
Operating profit (loss) before depreciation and amortization	(715)	438	(270)	697
Operating segments
Segment reporting information
Revenue	8,441	8,109	16,584	15,964
Operating segments | DIRECTV Latin America
Segment reporting information
Revenue	1,676	1,789	3,311	3,510
DIRECTV U.S.
Segment reporting information
Revenue	6,710	6,272	13,168	12,359
Operating profit (loss)	1,373	1,319	2,622	2,562
Depreciation and amortization expense	433	429	871	855
Operating profit (loss) before depreciation and amortization	1,806	1,748	3,493	3,417
DIRECTV U.S. | Operating segments
Segment reporting information
Revenue	6,708	6,270	13,164	12,355
DIRECTV U.S. | Intersegment elimination
Segment reporting information
Revenue	2	2	4	4
Sky Brasil
Segment reporting information
Revenue	781	1,011	1,576	1,950
Operating profit (loss)	63	114	117	262
Depreciation and amortization expense	143	175	288	338
Operating profit (loss) before depreciation and amortization	206	289	405	600
Sky Brasil | Operating segments
Segment reporting information
Revenue	781	1,011	1,576	1,950
PanAmericana and Other
Segment reporting information
Revenue	895	778	1,735	1,560
Operating profit (loss)	(1,064)	28	(962)	(146)
Depreciation and amortization expense	143	121	287	243
Operating profit (loss) before depreciation and amortization	(921)	149	(675)	97
PanAmericana and Other | Operating segments
Segment reporting information
Revenue	895	778	1,735	1,560
Sports Networks, Eliminations and Other
Segment reporting information
Revenue	55	48	105	95
Operating profit (loss)	(43)	(37)	(61)	(27)
Depreciation and amortization expense	2	4	5	7
Operating profit (loss) before depreciation and amortization	(41)	(33)	(56)	(20)
Sports Networks, Eliminations and Other | Operating segments
Segment reporting information
Revenue	57	50	109	99
Sports Networks, Eliminations and Other | Intersegment elimination
Segment reporting information
Revenue	$ (2)	$ (2)	$ (4)	$ (4)

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating profit before depreciation and amortization	$ 1,050	$ 2,153	$ 3,167	$ 4,094
Depreciation and amortization expense	(721)	(729)	(1,451)	(1,443)
Operating profit	329	1,424	1,716	2,651
Interest income	24	12	46	25
Interest expense	(234)	(230)	(479)	(462)
Other, net	25	35	32	92
Income before income taxes	144	1,241	1,315	2,306
Income tax expense	(502)	(431)	(943)	(927)
Net income (loss)	(358)	810	372	1,379
Less: Net income attributable to noncontrolling interest	(3)	(4)	(3)	(12)
Net income (loss) attributable to DIRECTV	$ (361)	$ 806	$ 369	$ 1,367

Condensed Consolidating Finan45

Condensed Consolidating Financial Statements (Details)	Jun. 30, 2015
Parent Subsidiaries | Reportable legal entity
Ownership percentage in subsidiary	100.00%

Condensed Consolidating Finan46

Condensed Consolidating Financial Statements (Details 2) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidating Statement of Operations
Revenues	$ 8,441	$ 8,109		$ 16,584	$ 15,964
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other	3,780	3,498		7,356	6,881
Subscriber service expenses	596	574		1,177	1,125
Broadcast operations expenses	118	107		235	204
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
Subscriber acquisition costs	900	898		1,788	1,725
Upgrade and retention costs	344	362		694	683
General and administrative expenses	601	517		1,115	971
Impairment of fixed and intangible assets	533			533
Venezuelan currency devaluation charge	519		$ 281	519	281
Depreciation and amortization expense	721	729		1,451	1,443
Total operating costs and expenses	8,112	6,685		14,868	13,313
Operating profit	329	1,424		1,716	2,651
Interest income	24	12		46	25
Interest expense	(234)	(230)		(479)	(462)
Other, net	25	35		32	92
Income before income taxes	144	1,241		1,315	2,306
Income tax benefit (expense)	(502)	(431)		(943)	(927)
Net income (loss)	(358)	810		372	1,379
Less: Net income attributable to noncontrolling interest	(3)	(4)		(3)	(12)
Net income (loss) attributable to DIRECTV	(361)	806		369	1,367
Reportable legal entity | Parent Subsidiaries
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
General and administrative expenses	30	30		62	39
Total operating costs and expenses	30	30		62	39
Operating profit	(30)	(30)		(62)	(39)
Equity in income of consolidated subsidiaries	(346)	826		404	1,394
Interest income	1			1
Interest expense		(1)			(1)
Other, net		(1)			(3)
Income before income taxes	(375)	794		343	1,351
Income tax benefit (expense)	14	12		26	16
Net income (loss)	(361)	806		369	1,367
Net income (loss) attributable to DIRECTV	(361)	806		369	1,367
Reportable legal entity | Co-Issuers
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
Equity in income of consolidated subsidiaries	773	813		1,524	1,600
Interest income				3
Interest expense	(222)	(222)		(453)	(442)
Other, net	1	(18)		3	(18)
Income before income taxes	552	573		1,077	1,140
Income tax benefit (expense)	99	94		189	175
Net income (loss)	651	667		1,266	1,315
Net income (loss) attributable to DIRECTV	651	667		1,266	1,315
Reportable legal entity | Guarantor Subsidiaries
Condensed Consolidating Statement of Operations
Revenues	6,710	6,272		13,168	12,359
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other	3,121	2,800		6,119	5,568
Subscriber service expenses	404	374		789	733
Broadcast operations expenses	76	75		157	147
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
Subscriber acquisition costs	682	661		1,385	1,309
Upgrade and retention costs	301	314		609	595
General and administrative expenses	320	300		616	590
Depreciation and amortization expense	433	429		871	855
Total operating costs and expenses	5,337	4,953		10,546	9,797
Operating profit	1,373	1,319		2,622	2,562
Interest income	1			1	1
Interest expense	(1)	(1)		(1)	(4)
Other, net	11	13		17	18
Income before income taxes	1,384	1,331		2,639	2,577
Income tax benefit (expense)	(611)	(518)		(1,115)	(977)
Net income (loss)	773	813		1,524	1,600
Net income (loss) attributable to DIRECTV	773	813		1,524	1,600
Reportable legal entity | Non-guarantor Subsidiaries
Condensed Consolidating Statement of Operations
Revenues	1,772	1,879		3,497	3,677
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other	689	736		1,305	1,377
Subscriber service expenses	194	201		390	393
Broadcast operations expenses	44	34		82	61
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
Subscriber acquisition costs	221	237		406	417
Upgrade and retention costs	46	48		88	89
General and administrative expenses	252	188		438	343
Impairment of fixed and intangible assets	533			533
Venezuelan currency devaluation charge	519			519	281
Depreciation and amortization expense	288	300		580	588
Total operating costs and expenses	2,786	1,744		4,341	3,549
Operating profit	(1,014)	135		(844)	128
Equity in income of consolidated subsidiaries	651	667		1,266	1,315
Interest income	22	12		41	24
Interest expense	(11)	(6)		(25)	(15)
Other, net	13	41		12	95
Income before income taxes	(339)	849		450	1,547
Income tax benefit (expense)	(4)	(19)		(43)	(141)
Net income (loss)	(343)	830		407	1,406
Less: Net income attributable to noncontrolling interest	(3)	(4)		(3)	(12)
Net income (loss) attributable to DIRECTV	(346)	826		404	1,394
Eliminations
Condensed Consolidating Statement of Operations
Revenues	(41)	(42)		(81)	(72)
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other	(30)	(38)		(68)	(64)
Subscriber service expenses	(2)	(1)		(2)	(1)
Broadcast operations expenses	(2)	(2)		(4)	(4)
Selling, general and administrative expenses, exclusive of depreciation and amortization expense
Subscriber acquisition costs	(3)			(3)	(1)
Upgrade and retention costs	(3)			(3)	(1)
General and administrative expenses	(1)	(1)		(1)	(1)
Total operating costs and expenses	(41)	(42)		(81)	(72)
Equity in income of consolidated subsidiaries	(1,078)	(2,306)		(3,194)	(4,309)
Income before income taxes	(1,078)	(2,306)		(3,194)	(4,309)
Net income (loss)	(1,078)	(2,306)		(3,194)	(4,309)
Net income (loss) attributable to DIRECTV	$ (1,078)	$ (2,306)		$ (3,194)	$ (4,309)

Condensed Consolidating Finan47

Condensed Consolidating Financial Statements (Details 3) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidating Statement of Comprehensive Income
Net income (loss)	$ (358)	$ 810	$ 372	$ 1,379
Cash flows hedges:
Unrealized gains (losses) arising during the period	83	6	(38)	(1)
Reclassification adjustments included in net income	(74)	(28)	20	(36)
Foreign currency translation adjustments	16	32	(116)	71
Other comprehensive income (loss)	25	10	(134)	34
Comprehensive income (loss)	(333)	820	238	1,413
Comprehensive (income) loss attributable to noncontrolling interest	(8)	(8)	10	(19)
Comprehensive income attributable to DIRECTV	(341)	812	248	1,394
Reportable legal entity | Parent Subsidiaries
Condensed Consolidating Statement of Comprehensive Income
Net income (loss)	(361)	806	369	1,367
Cash flows hedges:
Unrealized gains (losses) arising during the period	83	6	(38)	(1)
Reclassification adjustments included in net income	(74)	(28)	20	(36)
Foreign currency translation adjustments	11	28	(103)	64
Other comprehensive income (loss)	20	6	(121)	27
Comprehensive income (loss)	(341)	812	248	1,394
Comprehensive income attributable to DIRECTV	(341)	812	248	1,394
Reportable legal entity | Co-Issuers
Condensed Consolidating Statement of Comprehensive Income
Net income (loss)	651	667	1,266	1,315
Cash flows hedges:
Unrealized gains (losses) arising during the period	83	6	(38)	(1)
Reclassification adjustments included in net income	(74)	(28)	20	(36)
Other comprehensive income (loss)	9	(22)	(18)	(37)
Comprehensive income (loss)	660	645	1,248	1,278
Comprehensive income attributable to DIRECTV	660	645	1,248	1,278
Reportable legal entity | Guarantor Subsidiaries
Condensed Consolidating Statement of Comprehensive Income
Net income (loss)	773	813	1,524	1,600
Cash flows hedges:
Comprehensive income (loss)	773	813	1,524	1,600
Comprehensive income attributable to DIRECTV	773	813	1,524	1,600
Reportable legal entity | Non-guarantor Subsidiaries
Condensed Consolidating Statement of Comprehensive Income
Net income (loss)	(343)	830	407	1,406
Cash flows hedges:
Unrealized gains (losses) arising during the period	83	6	(38)	(1)
Reclassification adjustments included in net income	(74)	(28)	20	(36)
Foreign currency translation adjustments	16	32	(116)	71
Other comprehensive income (loss)	25	10	(134)	34
Comprehensive income (loss)	(318)	840	273	1,440
Comprehensive (income) loss attributable to noncontrolling interest	(8)	(8)	10	(19)
Comprehensive income attributable to DIRECTV	(326)	832	283	1,421
Eliminations
Condensed Consolidating Statement of Comprehensive Income
Net income (loss)	(1,078)	(2,306)	(3,194)	(4,309)
Cash flows hedges:
Unrealized gains (losses) arising during the period	(166)	(12)	76	2
Reclassification adjustments included in net income	148	56	(40)	72
Foreign currency translation adjustments	(11)	(28)	103	(64)
Other comprehensive income (loss)	(29)	16	139	10
Comprehensive income (loss)	(1,107)	(2,290)	(3,055)	(4,299)
Comprehensive income attributable to DIRECTV	$ (1,107)	$ (2,290)	$ (3,055)	$ (4,299)

Condensed Consolidating Finan48

Condensed Consolidating Financial Statements (Details 4) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
ASSETS
Total current assets	$ 8,394	$ 8,819
Satellites, net	3,010	3,040
Property and equipment, net	6,055	6,721
Goodwill	3,885	3,929
Intangible assets, net	835	994
Investments and other assets	1,921	1,956
Total assets	24,100	25,459
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Total current liabilities	7,608	6,959
Long-term debt	17,157	19,485
Deferred income taxes	1,624	1,726
Other liabilities and deferred credits	2,282	2,117
Stockholders' equity (deficit)
Common stock and additional paid-in capital	3,645	3,613
Retained earnings (accumulated deficit)	(8,039)	(8,408)
Accumulated other comprehensive income (loss)	(552)	(418)	$ (288)	$ (322)
Total DIRECTV stockholders' equity (deficit)	(4,946)	(5,213)
Noncontrolling interest	375	385
Total stockholders' equity (deficit)	(4,571)	(4,828)	$ (6,127)	$ (6,544)
Total liabilities and stockholders' deficit	24,100	25,459
Reportable legal entity | Parent Subsidiaries
ASSETS
Total current assets	3,360	1,201
Intercompany receivables	4,638	4,975
Investment in subsidiaries	(11,549)	(9,341)
Investments and other assets	136	134
Total assets	(3,415)	(3,031)
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Total current liabilities	422	527
Intercompany liabilities	642	1,212
Other liabilities and deferred credits	467	443
Stockholders' equity (deficit)
Common stock and additional paid-in capital	3,645	3,613
Retained earnings (accumulated deficit)	(8,039)	(8,408)
Accumulated other comprehensive income (loss)	(552)	(418)
Total DIRECTV stockholders' equity (deficit)	(4,946)	(5,213)
Total stockholders' equity (deficit)	(4,946)	(5,213)
Total liabilities and stockholders' deficit	(3,415)	(3,031)
Reportable legal entity | Co-Issuers
ASSETS
Total current assets	1,210	3,690
Goodwill	1,828	1,828
Intercompany receivables	13,379	11,698
Investment in subsidiaries	22,926	21,337
Investments and other assets	77	99
Total assets	39,420	38,652
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Total current liabilities	2,605	1,454
Long-term debt	17,053	19,327
Deferred income taxes	21	33
Intercompany liabilities	31,076	28,110
Other liabilities and deferred credits	577	453
Stockholders' equity (deficit)
Common stock and additional paid-in capital	8	432
Retained earnings (accumulated deficit)	(11,947)	(11,202)
Accumulated other comprehensive income (loss)	27	45
Total DIRECTV stockholders' equity (deficit)	(11,912)	(10,725)
Total stockholders' equity (deficit)	(11,912)	(10,725)
Total liabilities and stockholders' deficit	39,420	38,652
Reportable legal entity | Guarantor Subsidiaries
ASSETS
Total current assets	3,105	2,964
Satellites, net	1,669	1,717
Property and equipment, net	3,761	3,891
Goodwill	1,363	1,363
Intangible assets, net	506	512
Intercompany receivables	31,060	28,132
Investments and other assets	626	670
Total assets	42,090	39,249
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Total current liabilities	3,811	4,244
Deferred income taxes	1,703	1,736
Intercompany liabilities	13,379	11,698
Other liabilities and deferred credits	271	234
Stockholders' equity (deficit)
Common stock and additional paid-in capital	5,468	5,403
Retained earnings (accumulated deficit)	17,458	15,934
Total DIRECTV stockholders' equity (deficit)	22,926	21,337
Total stockholders' equity (deficit)	22,926	21,337
Total liabilities and stockholders' deficit	42,090	39,249
Reportable legal entity | Non-guarantor Subsidiaries
ASSETS
Total current assets	1,255	1,592
Satellites, net	1,341	1,323
Property and equipment, net	2,294	2,830
Goodwill	694	738
Intangible assets, net	337	490
Intercompany receivables	618	1,143
Investment in subsidiaries	(11,912)	(10,725)
Investments and other assets	1,202	1,185
Total assets	(4,171)	(1,424)
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Total current liabilities	1,306	1,362
Long-term debt	104	158
Deferred income taxes	20	89
Intercompany liabilities	4,598	4,928
Other liabilities and deferred credits	975	995
Stockholders' equity (deficit)
Common stock and additional paid-in capital	3,022	3,489
Retained earnings (accumulated deficit)	(14,160)	(12,554)
Accumulated other comprehensive income (loss)	(411)	(276)
Total DIRECTV stockholders' equity (deficit)	(11,549)	(9,341)
Noncontrolling interest	375	385
Total stockholders' equity (deficit)	(11,174)	(8,956)
Total liabilities and stockholders' deficit	(4,171)	(1,424)
Eliminations
ASSETS
Total current assets	(536)	(628)
Intangible assets, net	(8)	(8)
Intercompany receivables	(49,695)	(45,948)
Investment in subsidiaries	535	(1,271)
Investments and other assets	(120)	(132)
Total assets	(49,824)	(47,987)
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Total current liabilities	(536)	(628)
Deferred income taxes	(120)	(132)
Intercompany liabilities	(49,695)	(45,948)
Other liabilities and deferred credits	(8)	(8)
Stockholders' equity (deficit)
Common stock and additional paid-in capital	(8,498)	(9,324)
Retained earnings (accumulated deficit)	8,649	7,822
Accumulated other comprehensive income (loss)	384	231
Total DIRECTV stockholders' equity (deficit)	535	(1,271)
Total stockholders' equity (deficit)	535	(1,271)
Total liabilities and stockholders' deficit	$ (49,824)	$ (47,987)

Condensed Consolidating Finan49

Condensed Consolidating Financial Statements (Details 5) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net cash provided by (used in) operating activities	$ 3,238	$ 3,064
Cash flows from investing activities
Cash paid for property and equipment	(1,251)	(1,417)
Cash paid for satellites	(131)	(109)
Cash paid for short-term investments	(53)
Investment in companies, net of cash acquired	(23)	(8)
Proceeds from sale of investments	2	29
Other, net	(4)	(4)
Net cash used in investing activities	(1,460)	(1,509)
Cash flows from financing activities
Issuance (repayment) of commercial paper (maturity 90 days or less), net		25
Proceeds from short-term borrowings		270
Repayment of short-term borrowings		(235)
Proceeds from long-term debt	20	1,329
Debt issuance costs		(7)
Repayment of long-term debt	(1,255)	(1,026)
Repayment of other long-term obligations	(51)	(34)
Common shares repurchased and retired		(1,386)
Stock options exercised	9	10
Taxes paid in lieu of shares issued for share-based compensation	(65)	(57)
Excess tax benefit from share-based compensation	31	22
Other, net		(40)
Net cash used in financing activities	(1,311)	(1,129)
Effect of exchange rate changes on Venezuelan cash and cash equivalents	(629)	(316)
Net increase (decrease) in cash and cash equivalents	(162)	110
Cash and cash equivalents at beginning of the period	4,635	2,180
Cash and cash equivalents at end of the period	4,473	2,290
Reportable legal entity | Parent Subsidiaries
Cash flows from operating activities
Net cash provided by (used in) operating activities	2,596	1,042
Cash flows from investing activities
Return of capital from subsidiary		425
Intercompany payments (funding)	(148)	103
Net cash used in investing activities	(148)	528
Cash flows from financing activities
Common shares repurchased and retired		(1,386)
Stock options exercised	9	10
Taxes paid in lieu of shares issued for share-based compensation	(65)	(57)
Excess tax benefit from share-based compensation	31	22
Intercompany payments (funding)	(39)	(75)
Net cash used in financing activities	(64)	(1,486)
Net increase (decrease) in cash and cash equivalents	2,384	84
Cash and cash equivalents at beginning of the period	680	498
Cash and cash equivalents at end of the period	3,064	582
Reportable legal entity | Co-Issuers
Cash flows from operating activities
Net cash provided by (used in) operating activities	(700)	(1,033)
Cash flows from investing activities
Intercompany payments (funding)	(701)	(653)
Net cash used in investing activities	(701)	(653)
Cash flows from financing activities
Issuance (repayment) of commercial paper (maturity 90 days or less), net		25
Proceeds from short-term borrowings		270
Repayment of short-term borrowings		(235)
Proceeds from long-term debt		1,245
Debt issuance costs		(7)
Repayment of long-term debt	(1,200)	(1,000)
Intercompany payments (funding)	2,981	2,966
Cash dividend to Parent	(2,500)	(1,500)
Other, net		(26)
Net cash used in financing activities	(719)	1,738
Net increase (decrease) in cash and cash equivalents	(2,120)	52
Cash and cash equivalents at beginning of the period	3,191	791
Cash and cash equivalents at end of the period	1,071	843
Reportable legal entity | Guarantor Subsidiaries
Cash flows from operating activities
Net cash provided by (used in) operating activities	2,990	3,139
Cash flows from investing activities
Cash paid for property and equipment	(642)	(773)
Cash paid for satellites	(47)	(33)
Investment in companies, net of cash acquired	(18)	(1)
Proceeds from sale of investments	2	16
Intercompany payments (funding)	(2,996)	(2,990)
Net cash used in investing activities	(3,701)	(3,781)
Cash flows from financing activities
Repayment of other long-term obligations	(13)	(15)
Taxes paid in lieu of shares issued for share-based compensation	(51)	(47)
Excess tax benefit from share-based compensation	23	18
Intercompany payments (funding)	751	702
Net cash used in financing activities	710	658
Net increase (decrease) in cash and cash equivalents	(1)	16
Cash and cash equivalents at beginning of the period	20	6
Cash and cash equivalents at end of the period	19	22
Reportable legal entity | Non-guarantor Subsidiaries
Cash flows from operating activities
Net cash provided by (used in) operating activities	886	1,026
Cash flows from investing activities
Cash paid for property and equipment	(609)	(644)
Cash paid for satellites	(84)	(76)
Cash paid for short-term investments	(53)
Investment in companies, net of cash acquired	(5)	(7)
Proceeds from sale of investments		13
Intercompany payments (funding)	40	72
Other, net	(4)	(4)
Net cash used in investing activities	(715)	(646)
Cash flows from financing activities
Proceeds from long-term debt	20	84
Repayment of long-term debt	(55)	(26)
Repayment of other long-term obligations	(38)	(19)
Taxes paid in lieu of shares issued for share-based compensation	(14)	(10)
Excess tax benefit from share-based compensation	8	4
Intercompany payments (funding)	112	(125)
Other, net		(14)
Net cash used in financing activities	33	(106)
Effect of exchange rate changes on Venezuelan cash and cash equivalents	(629)	(316)
Net increase (decrease) in cash and cash equivalents	(425)	(42)
Cash and cash equivalents at beginning of the period	744	885
Cash and cash equivalents at end of the period	319	843
Eliminations
Cash flows from operating activities
Net cash provided by (used in) operating activities	(2,534)	(1,110)
Cash flows from investing activities
Return of capital from subsidiary		(425)
Intercompany payments (funding)	3,805	3,468
Net cash used in investing activities	3,805	3,043
Cash flows from financing activities
Taxes paid in lieu of shares issued for share-based compensation	65	57
Excess tax benefit from share-based compensation	(31)	(22)
Intercompany payments (funding)	(3,805)	(3,468)
Cash dividend to Parent	2,500	1,500
Net cash used in financing activities	$ (1,271)	$ (1,933)

Subsequent Events (Details)

Subsequent Events (Details) - AT&T - Subsequent event $ / shares in Units, $ in Millions	Jul. 24, 2015USD ($)$ / sharesshares
Subsequent event
Stock price at closing (in dollars per share)	$ 34.29
DIRECTV
Subsequent event
Share price in cash (in dollars per share)	$ 28.50
Stock portion of shares to be received by shareholders | shares	1.892
Ownership in combined company	16.00%
Total consideration | $	$ 47,110

Restatement (Details)

Restatement (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS
Operating profit	$ 329	$ 1,424	$ 1,716	$ 2,651
Income before income tax	144	1,241	1,315	2,306
Income tax expense	(502)	(431)	(943)	(927)
Net income (loss) attributable to DIRECTV	$ (361)	$ 806	$ 369	$ 1,367
Basic earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ (0.72)	$ 1.60	$ 0.73	$ 2.70
Diluted earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ (0.72)	$ 1.59	$ 0.73	$ 2.67
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - AS RESTATED
Net income (loss)	$ (358)	$ 810	$ 372	$ 1,379
Comprehensive income (loss)	(333)	820	238	1,413
Comprehensive income (loss) attributable to DIRECTV	(341)	812	248	1,394
CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents	4,473	2,290	4,473	2,290	$ 4,635	$ 2,180
Accounts receivable, net	2,718		2,718		2,800
Inventories	418		418		299
Deferred income taxes	47		47		68
Prepaid expenses and other	738		738		1,017
Total current assets	8,394		8,394		8,819
Property and equipment, net	6,055		6,055		6,721
Intangible assets, net	835		835		994
Total assets	24,100		24,100		25,459
Accounts payable and accrued liabilities	4,681		4,681		5,048
Total current liabilities	7,608		7,608		6,959
Other liabilities and deferred credits	2,282		2,282		2,117
Accumulated deficit	(8,039)		(8,039)		(8,408)
Total DIRECTV stockholders' deficit	(4,946)		(4,946)		(5,213)
Total stockholders' deficit	(4,571)	$ (6,127)	(4,571)	$ (6,127)	(4,828)	$ (6,544)
Total liabilities stockholders' deficit	24,100		24,100		$ 25,459
As Previously Reported
CONSOLIDATED STATEMENTS OF OPERATIONS
Operating profit	1,389		2,776
Income before income tax	1,204		2,375
Income tax expense	(454)		(895)
Net income (loss) attributable to DIRECTV	$ 747		$ 1,477
Basic earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ 1.48		$ 2.93
Diluted earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ 1.47		$ 2.91
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - AS RESTATED
Net income (loss)	$ 750		$ 1,480
Comprehensive income (loss)	775		1,346
Comprehensive income (loss) attributable to DIRECTV	767		1,356
CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents	5,061		5,061
Accounts receivable, net	2,754		2,754
Inventories	425		425
Deferred income taxes	65		65
Prepaid expenses and other	777		777
Total current assets	9,082		9,082
Property and equipment, net	6,477		6,477
Intangible assets, net	946		946
Total assets	25,321		25,321
Accounts payable and accrued liabilities	4,795		4,795
Total current liabilities	7,722		7,722
Other liabilities and deferred credits	2,281		2,281
Accumulated deficit	(6,931)		(6,931)
Total DIRECTV stockholders' deficit	(3,838)		(3,838)
Total stockholders' deficit	(3,463)		(3,463)
Total liabilities stockholders' deficit	25,321		25,321
Adjustments
CONSOLIDATED STATEMENTS OF OPERATIONS
Operating profit	(1,060)		(1,060)
Income before income tax	(1,060)		(1,060)
Income tax expense	(48)		(48)
Net income (loss) attributable to DIRECTV	$ (1,108)		$ (1,108)
Basic earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ (2.20)		$ (2.20)
Diluted earnings (losses) attributable to DIRECTV per common share (in dollars per share)	$ (2.19)		$ (2.18)
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - AS RESTATED
Net income (loss)	$ (1,108)		$ (1,108)
Comprehensive income (loss)	(1,108)		(1,108)
Comprehensive income (loss) attributable to DIRECTV	(1,108)		(1,108)
CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents	(588)		(588)
Accounts receivable, net	(36)		(36)
Inventories	(7)		(7)
Deferred income taxes	(18)		(18)
Prepaid expenses and other	(39)		(39)
Total current assets	(688)		(688)
Property and equipment, net	(422)		(422)
Intangible assets, net	(111)		(111)
Total assets	(1,221)		(1,221)
Accounts payable and accrued liabilities	(114)		(114)
Total current liabilities	(114)		(114)
Other liabilities and deferred credits	1		1
Accumulated deficit	(1,108)		(1,108)
Total DIRECTV stockholders' deficit	(1,108)		(1,108)
Total stockholders' deficit	(1,108)		(1,108)
Total liabilities stockholders' deficit	$ (1,221)		$ (1,221)