XM Radio 2008 Annual Report Download - page 32
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The reconciliation of the pro forma unadjusted net loss to the pro forma adjusted income (loss) from operations
is calculated as follows (see footnotes for reconciliation of the pro forma amounts to their respective GAAP
amounts):
2008 2007 2006
Unaudited Pro Forma
For the Years Ended December 31,
Reconciliation of net loss to adjusted income (loss) from
operations:
Net loss ................................... $(902,335) $(1,247,633) $(1,823,739)
Add back net loss items excluded from adjusted income
(loss) from operations:
Interest and investment income .................. (12,092) (34,654) (54,984)
Interest expense, net of amounts capitalized ......... 235,655 186,933 185,336
Income tax expense ........................... 3,988 1,496 2,051
Loss from redemption of debt ................... 98,203 3,693 122,189
Loss on investments .......................... 43,517 56,156 104,246
Other expense (income) ........................ 16,142 9,482 (5,921)
Loss from operations ........................ (516,922) (1,024,527) (1,470,822)
Impairment of parts ........................... — — 10,917
Restructuring and related costs................... 10,434 — —
Depreciation and amortization ................... 245,571 293,976 274,629
Share-based payment expense ................... 124,619 165,099 505,964
Adjusted income (loss) from operations .............. $(136,298) $ (565,452) $ (679,312)
There are material limitations associated with the use of a pro forma unadjusted results of operations in
evaluating our company compared with our GAAP Results of operations, which reflects overall financial
performance. We use pro forma unadjusted results of operations to supplement GAAP results to provide a more
complete understanding of the factors and trends affecting the business than GAAP results alone. Investors that wish
to compare and evaluate our operating results after giving effect for these costs, should refer to Results of operations
as disclosed in our audited consolidated statements of operations. Since pro forma unadjusted results of operations
is a non-GAAP financial measure, our calculations may not be comparable to other similarly titled measures of
other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial
performance prepared in accordance with GAAP.
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