XM Radio 1999 Annual Report Download - page 35

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33 1999 ANNUAL REPORT
CONSOLiDATED STATEMENTS OF CASH FLOWS
(continued)
December 15, 1992
(date of inception) to
1997 1998 1999 December 31, 1999
(in thousands)
Supplemental cash flow disclosure:
Increase in FCC license, goodwill and
intangibles from WorldSpace Transaction ........... $ — $ — $ 51,624 $ 51,624
Liabilities exchanged for new convertible
note to Parent................................................... — — 81,676 81,676
Non-cash interest capitalized .................................. 1,901 11,824 15,162 28,887
Interest converted into principal note balance.......... 501 9,157 4,601 14,259
Accrued expenses transferred to loan balance......... — — 7,405 7,405
Accrued system milestone payments ...................... — 21,867 15,500 15,500
Property acquired through capital leases................. — — 470 470
Conversion of debt to equity................................... — — 353,315 353,315
See accompanying notes to consolidated financial statements.