Question-and-Answer Session
Operator
(Operator Instructions) Our first question, we’ll hear from Tony Gikas with Piper Jaffray.
Tony Gikas - Piper Jaffray
A couple of questions -- could you review the entertainment slate for 2011, as preliminary as it might be? And you mentioned that Transformers looks like it is coming that year -- any visibility on the actors in the movie? Also, Brian, maybe you could just help us out with a little bit of what you are seeing at retail and how much channel fill is taking place right now, in your opinion? And then I have one follow-up.
Brian Goldner
All right, good morning. For the slate in 2011, currently the plan is Stretch Armstrong April 15th of ’11, Spider-man 4 May 6th of ’11, Thor May 20th of ’11, Transformers 3 the first of July in ’11, The First Avenger: Captain America the 22nd of July 2011 and then Battleship just following that. And then of course that will be our first full year of television on the joint venture network.
Tony Gikas - Piper Jaffray
Channel fill at retail, could you just characterize how much is taking place?
Brian Goldner
What we are really seeing at this point is, as you know, we’ve managed the inventory down thus far this year. We are starting to see consumer and retail takeaway increasing versus the third quarter and so again, we won't comment specifically on what we expect the fourth quarter revenues but if it continues as it is, we feel good about the fourth quarter.
Tony Gikas - Piper Jaffray
And then Deb, do you have the trailing 12-month cash flow number that you mentioned?
Deborah Thomas
Yes, I do. From a free cash flow percentage, we had a -- give me one sec, I’m going to find that. Our free cash flow was $284 million use of cash in the last quarter and that will be in the last nine months, and that will be in our 10-Q that comes out within the next couple of weeks.
Tony Gikas - Piper Jaffray
Okay, thank you. Great job.
Operator
Your next question comes from the line of Robert Carroll with UBS.
Robert Carroll - UBS
Looking at spending for the JV, are you guys able to break out what specifically was spent, kind of where that is on the P&L?
Deborah Thomas
Well, the majority of it, Rob, would be in the interest category. I think that if you look at the debt that we issue, that is the biggest piece of that and from a dilution standpoint. And then we also from a year-to-date standpoint, we also had some acquisition costs and tax benefit, so if you look at the interest, that’s the largest piece. And as we mentioned in other income, we had $1.5 million from the joint venture itself in net earnings.
- To read the full transcript on Seeking Alpha, click here »
