This excerpt taken from the DTV 8-K filed Feb 7, 2007.
CONSOLIDATED BALANCE SHEET AND CASH FLOW
The DIRECTV Groups consolidated cash and short-term investment balance of $2.67 billion declined by $1.71 billion in 2006 mostly due to the implementation of a share repurchase program announced on February 8, 2006. Through December 31, 2006, The DIRECTV Group had repurchased and retired 184.1 million shares of DIRECTV Group common stock for approximately $2.98 billion at an average price of $16.16 per share. Also impacting the cash balance through December 31, 2006, were net payments of $217 million related to the DIRECTV Latin America transactions, $110 million received for the sale of the remaining interest in HNS, as well as free cash flow in the period of $1.20 billion. Free cash flow was driven by cash flow from operations of $3.16 billion partially offset by cash paid for satellites and property and equipment of $1.98
billion. Total debt increased to $3.62 billion primarily due to the consolidation of $210 million of outstanding debt at Sky Brazil upon its merger with DIRECTV Brazil. In January, 2007, The DIRECTV Group repaid the $210 million of outstanding debt at Sky Brazil and also purchased Darlenes interest in DIRECTV Latin America for $325 million.