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This excerpt taken from the DTV 8-K filed Jun 1, 2009. Note 6: Investments Equity Method Investments We have investments in companies that we account for under the equity method of accounting totaling $667 million as of December 31, 2008 and $551 million as of December 31, 2007. We paid cash of $96 million in 2008, $13 million in 2007 and $381 million in 2006 to acquire interests in companies we account for under the equity method of accounting. As discussed in Note 17, we acquired a 41% interest in Sky Mexico in 2006. The book value of our investment in Sky Mexico was $537 million at December 31, 2008 and $505 million at December 31, 2007. The following table sets forth equity in earnings of our 41% interest in Sky Mexico for the periods presented:
We received cash dividends of $35 million in 2008 from companies that we account for under the equity method. 16 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued) In January 2006, we completed the sale of our 50% interest in HNS LLC to SkyTerra Communications, Inc. and resolved a working capital adjustment from a prior transaction with SkyTerra in exchange for $110 million in cash, which resulted in our recording a gain of $14 million related to the sale, in addition to equity earnings of HNS LLC of $11 million in "Other, net" in the Consolidated Statements of Operations. Other Investments We had investments in marketable equity securities of $23 million as of December 31, 2008 and $56 million as of December 31, 2007, which were stated at current fair value and classified as available-for-sale. Accumulated unrealized gains, net of taxes, included as part of accumulated other comprehensive income were $1 million in 2008, $21 million in 2007 and $9 million in 2006. These excerpts taken from the DTV 10-K filed Feb 27, 2009. Note 6: Investments Equity Method Investments We have investments in companies that we account for under the equity method of accounting totaling $667 million as of December 31, 2008 and $551 million as of December 31, 2007. 78
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued) We paid cash of $96 million in 2008, $13 million in 2007 and $381 million in 2006 to acquire interests in companies we account for under the equity method of accounting. As discussed in Note 17, we acquired a 41% interest in Sky Mexico in 2006. The book value of our investment in Sky Mexico was $537 million at December 31, 2008 and $505 million at December 31, 2007. The following table sets forth equity in earnings of our 41% interest in Sky Mexico for the periods presented:
We received cash dividends of $35 million in 2008 from companies that we account for under the equity method. In January 2006, we completed the sale of our 50% interest in HNS LLC to SkyTerra Communications, Inc. and resolved a working capital adjustment from a prior transaction with SkyTerra in exchange for $110 million in cash, which resulted in our recording a gain of $14 million related to the sale, in addition to equity earnings of HNS LLC of $11 million in "Other, net" in the Consolidated Statements of Operations. Other Investments We had investments in marketable equity securities of $23 million as of December 31, 2008 and $56 million as of December 31, 2007, which were stated at current fair value and classified as available-for-sale. Accumulated unrealized gains, net of taxes, included as part of accumulated other comprehensive income were $1 million in 2008, $21 million in 2007 and $9 million in 2006. Note 6: Investments Equity Method Investments We have investments in companies that we account for under the equity method of accounting totaling $667 million as of December 31, 2008 and $551 million as of December 31, 2007. 78
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued) We paid cash of $96 million in 2008, $13 million in 2007 and $381 million in 2006 to acquire interests in companies we account for under the equity method of accounting. As discussed in Note 17, we acquired a 41% interest in Sky Mexico in 2006. The book value of our investment in Sky Mexico was $537 million at December 31, 2008 and $505 million at December 31, 2007. The following table sets forth equity in earnings of our 41% interest in Sky Mexico for the periods presented:
We received cash dividends of $35 million in 2008 from companies that we account for under the equity method. In January 2006, we completed the sale of our 50% interest in HNS LLC to SkyTerra Communications, Inc. and resolved a working capital adjustment from a prior transaction with SkyTerra in exchange for $110 million in cash, which resulted in our recording a gain of $14 million related to the sale, in addition to equity earnings of HNS LLC of $11 million in "Other, net" in the Consolidated Statements of Operations. Other Investments We had investments in marketable equity securities of $23 million as of December 31, 2008 and $56 million as of December 31, 2007, which were stated at current fair value and classified as available-for-sale. Accumulated unrealized gains, net of taxes, included as part of accumulated other comprehensive income were $1 million in 2008, $21 million in 2007 and $9 million in 2006. Note 6: Investments Equity Method Investments We have investments in companies that we account for under the equity method of accounting totaling $667 million as of 78
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued) We The
We In Other Investments We had investments in marketable equity securities of $23 million as of December 31, 2008 and $56 million as of Accumulated Note 6: Investments Equity Method Investments We have investments in companies that we account for under the equity method of accounting totaling $667 million as of 78
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued) We The
We In Other Investments We had investments in marketable equity securities of $23 million as of December 31, 2008 and $56 million as of Accumulated This excerpt taken from the DTV 10-Q filed Nov 6, 2008. Investments During the nine months ended September 30, 2008, we paid $99 million in cash to acquire equity method investments and $7 million in cash for other investments. 27
On January 30, 2007, we acquired Darlene's 14% equity interest in DLA LLC for $325 million in cash and resolved all outstanding disputes with Darlene. We accounted for this acquisition using the purchase method of accounting. This excerpt taken from the DTV 10-Q filed Aug 7, 2008. Investments During the six months ended June 30, 2008, we paid $97 million in cash to acquire equity method investments and $7 million in cash for other investments. On January 30, 2007, we acquired Darlene's 14% equity interest in DLA LLC for $325 million in cash and resolved all outstanding disputes with Darlene. We accounted for this acquisition using the purchase method of accounting. 27 THE DIRECTV GROUP, INC. These excerpts taken from the DTV 10-K filed Feb 25, 2008. Note 6: Investments Equity Method Investments We have investments in companies that we accounted for under the equity method of accounting totaling $551 million as of December 31, 2007 and $510 million as of December 31, 2006. As discussed in Note 3, we acquired a 41% interest in Sky Mexico in 2006. The book value of our investment in Sky Mexico was $505 million at December 31, 2007 and $464 million at December 31, 2006. The following table sets forth equity in earnings of our 41% interest in Sky Mexico for the periods presented:
In January 2006, we completed the sale of our 50% interest in HNS LLC to SkyTerra Communications, Inc. and resolved a working capital adjustment from a prior transaction in exchange for $110 million in cash, which resulted in our recording a gain of $14 million related to the sale, in addition to equity earnings of HNS LLC of $11 million in "Other, net" in the Consolidated Statements of Operations. Other Investments We had investments in marketable equity securities of $56 million as of December 31, 2007 and $37 million as of December 31, 2006, which were stated at current fair value and classified as available-for-sale. Accumulated unrealized gains, net of taxes, included as part of accumulated other comprehensive income were $21 million in 2007, $9 million in 2006 and $23 million in 2005. During 2005, we sold an equity investment for $113 million in cash and recorded a net pre-tax loss of $1 million. 78 THE DIRECTV GROUP, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS--(continued) Note 6: Investments Equity Method Investments We have investments in companies that we accounted for under the equity method of accounting totaling $551 million as of December 31, 2007 and As The
In Other Investments We had investments in marketable equity securities of $56 million as of December 31, 2007 and $37 million as of December 31, 2006, Accumulated During 78 THE DIRECTV GROUP, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS--(continued) This excerpt taken from the DTV 10-K filed Mar 1, 2007. Note 7: Investments Equity Method Investments We have investments in companies that we accounted for under the equity method of accounting totaling $509.6 million as of December 31, 2006 and $110.6 million as of December 31, 2005. As discussed in Note 3, we acquired a 41% interest in Sky Mexico in February 2006. The purchase price of our investment in Sky Mexico exceeded our proportionate share of Sky Mexico's underlying net assets by approximately $445.6 million on the date of acquisition. We have allocated the excess purchase price to amortizable intangibles of $242.0 million, deferred tax liabilities of $70.2 million and 84 to goodwill of $273.8 million. During the year ended December 31, 2006, we recorded equity in earnings of $18.1 million from our investment in Sky Mexico, which is net of amortization of $22.3 million. Other Investments We had investments in marketable equity securities of $36.7 million as of December 31, 2006 and $71.2 million as of December 31, 2005, which were stated at current fair value and classified as available-for-sale. Accumulated unrealized gains, net of taxes, included as part of accumulated other comprehensive income were $8.8 million in 2006, $23.1 million in 2005 and $22.0 million in 2004. During 2005, we sold an equity investment for $113.1 million in cash. As a result, we recognized a net pre-tax loss of $0.6 million during 2005. During 2004, we sold various equity investments for $510.5 million in cash and recorded a pre-tax gain of $396.5 million. This excerpt taken from the DTV 10-Q filed Nov 9, 2006. Note 6: Investments Equity Method Investments As discussed in Note 5, we acquired a 41% interest in Sky Mexico in February 2006. The purchase price of our investment in Sky Mexico exceeded our proportionate share of Sky Mexico's underlying net assets by approximately $450 million on the date of acquisition. We have allocated the excess purchase price to both amortized intangible assets and to goodwill based upon a preliminary valuation. We expect to complete our final valuation and allocation later in 2006. During the three months ended September 30, 2006, we recorded equity income from our investment in Sky Mexico of $12.5 million, including amortization expense of $3.5 million. During the nine months ended September 30, 2006, we 11 recorded equity income of $8.6 million from our investment in Sky Mexico, including amortization expense of $15.4 million. See Note 5 regarding the sale of our investment in HNS LLC during the first quarter of 2006. Cost Method Investments During the first quarter of 2006, we sold other investments for $13.7 million in cash, which resulted in us recording a $0.9 million pre-tax gain in "Other, net" in the Consolidated Statements of Operations during the nine months ended September 30, 2006. During the nine months ended September 30, 2005, we sold other investments for $113.1 million in cash that resulted in a net pre-tax loss of $0.6 million that we recorded in "Other, net" in the Consolidated Statements of Operations. This excerpt taken from the DTV 10-Q filed Aug 8, 2006. Note 6: Investments Equity Method Investments As discussed in Note 4, we acquired an equity interest in Sky Mexico in February 2006. The purchase price of our investment in Sky Mexico exceeded our proportionate share of Sky Mexico's underlying net assets by approximately $450 million on the date of acquisition. We have allocated the excess purchase price to both amortized intangible assets and to goodwill based upon a preliminary valuation. We expect to complete our final valuation and allocation later in 2006. During the three months ended June 30, 2006, we recorded equity losses from our investment in Sky Mexico of $1.2 million, including amortization expense of $7.9 million. During the six months ended June 30, 2006, we recorded equity losses from our investment in Sky Mexico of $3.9 million, including amortization expense of $11.9 million. See Note 4 regarding the sale of our investment in HNS LLC during the first quarter of 2006. Cost Method Investments During the first quarter of 2006, we sold other investments for $13.7 million in cash, which resulted in us recording a $0.9 million pre-tax gain in "Other, net" in the Consolidated Statements of Operations during the first quarter of 2006. During the six months ended June 30, 2005, we sold other investments for $113.1 million in cash that resulted in a net pre-tax gain of $1.0 million in the second quarter of 2005 and a pre-tax loss of $1.6 million in the first quarter of 2005 that we recorded in "Other, net" in the Consolidated Statements of Operations. 10 This excerpt taken from the DTV 10-Q filed May 8, 2006. Note 6: Investments Equity Method Investments As discussed in Note 4, we acquired an equity interest in Sky Mexico in February 2006. The purchase price of our investment in Sky Mexico exceeded our proportionate share of Sky Mexico's underlying net assets by approximately $450 million on the date of acquisition. We have allocated the excess purchase price to both amortized intangible assets and to indefinite-lived intangible assets and goodwill based upon a preliminary valuation. We expect to complete our final valuation and allocation later in 2006. During the first quarter of 2006, we recorded equity losses from our investment in Sky Mexico of $2.7 million, including amortization expense of $4.0 million. See Note 4 regarding the sale of our investment in HNS LLC during the first quarter of 2006. Cost Method Investments During the first quarter of 2006, we sold other investments for $12.3 million, of which $4.5 million in net cash was received in the first quarter of 2006 and $7.8 million was received in April 2006. As a result of these transactions we recognized a $0.9 million pre-tax gain in "Other, net" in the Consolidated Statements of Operations. During the first quarter of 2005, we sold other investments for $79.2 million in cash that resulted in a net pre-tax loss of $1.6 million that we recorded in "Other, net" in the Consolidated Statements of Operations for the three month period ended March 31, 2005. 9 This excerpt taken from the DTV 10-K filed Mar 10, 2006. Note 7: Investments Investments in marketable equity and debt securities stated at current fair value and classified as available-for-sale were as follows:
We recorded $23.1 million in 2005, $22.0 million in 2004 and $273.9 million in 2003 of accumulated unrealized gains, net of taxes, as part of accumulated other comprehensive income. We have investments in companies that we accounted for under the equity method of accounting totaling $110.6 million in 2005 and $31.2 million in 2004. See Note 15 for additional information regarding our sale of investments. 84 This excerpt taken from the DTV 10-Q filed Nov 4, 2005. Note 6: Investments During the first and second quarters of 2005, we sold all of our investment in redeemable preference shares of Tata Teleservices Limited, or TTSL, for $113.1 million in cash. As a result, we recognized a net pre-tax loss of $0.6 million in "Other, net" in our Consolidated Statements of Operations during the nine months ended September 30, 2005. 14 On January 28, 2004, we sold 10,000,000 shares of XM Satellite Radio Holdings, Inc., or XM Satellite Radio, common stock for $254.4 million. On March 25, 2004, we sold our remaining 9,014,843 shares of XM Satellite Radio common stock for $223.1 million. As a result of these transactions, we recorded a pre-tax gain of $387.1 million in the first quarter of 2004 in "Other, net" in our Consolidated Statements of Operations. In addition, we sold other equity investments for $33.0 million and recorded a pre-tax gain of $9.4 million in "Other, net" in our Consolidated Statements of Operations during the nine months ended September 30, 2004. This excerpt taken from the DTV 10-Q filed Aug 5, 2005. Note 5: Investments During the six months ended June 30, 2005, we sold all of our investment in redeemable preference shares of Tata Teleservices Limited, or TTSL, for $113.1 million in cash. As a result, we recognized a net pre-tax loss of $0.6 million in "Other, net" in our Consolidated Statements of Operations during the six months ended June 30, 2005. On January 28, 2004, we sold 10,000,000 shares of XM Satellite Radio Holdings, Inc., or XM Satellite Radio, common stock for $254.4 million. On March 25, 2004, we sold our remaining 9,014,843 shares of XM Satellite Radio common stock for $223.1 million. As a result of these transactions, we recorded a pre-tax gain of $387.1 million in the first quarter of 2004 in "Other, net" in our Consolidated Statements of Operations. In addition, we sold other equity investments for $33.0 million and recorded a pre-tax gain of $9.4 million in "Other, net" in our Consolidated Statements of Operations during the six months ended June 30, 2004. 13 This excerpt taken from the DTV 10-Q filed May 5, 2005. Note 5: Investments During the first quarter of 2005, we sold approximately 71% of our investment in redeemable preference shares of Tata Teleservices Limited, or TTSL, for $79.2 million in cash. As a result, we recognized a net pre-tax loss of $1.6 million in "Other, net" in the Consolidated Statements of Operations in the first quarter of 2005. On January 28, 2004, we sold 10,000,000 shares of XM Satellite Radio Holdings, Inc., or XM Satellite Radio, common stock for $254.4 million. On March 25, 2004, we sold our remaining 9,014,843 shares of XM Satellite Radio common stock for $223.1 million. As a result of these transactions, we recorded a pre-tax gain of $387.1 million in the first quarter of 2004 in "Other, net" in the Consolidated Statements of Operations. The $223.1 million of proceeds from the March 25, 2004 sale was not received until April 1, 2004 and was therefore included in "Prepaid expenses and other" in the Consolidated Balance Sheets. This excerpt taken from the DTV 10-K filed Mar 1, 2005. Note 7: Investments
Investments in marketable equity and debt securities stated at current fair value and classified as available-for-sale were as follows:
At December 31, 2004 and 2003, we recorded $22.0 million and $273.9 million of accumulated unrealized gains, net of taxes, as part of OCI, respectively.
Investments in companies accounted for under the equity method at December 31, 2004 and 2003 amounted to $31.2 million and $4.6 million, respectively.
See Note 15 below for additional information regarding our sale of investments.
79
THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (continued)
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