XM Radio 2008 Annual Report Download - page 44
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Adjusted income (loss) from operations is calculated as follows:
2008 2007 2006
Unaudited Actual
For the Years Ended December 31,
Reconciliation of net loss to adjusted income (loss) from
operations:
Net loss ................................... $(5,313,288) $(565,252) $(1,104,867)
Add back net loss items excluded from adjusted income
(loss) from operations:
Interest and investment income .................. (9,079) (20,570) (33,320)
Interest expense, net of amounts capitalized ......... 144,833 70,328 64,032
Income tax expense ........................... 2,476 2,435 2,065
Loss from redemption of debt ................... 98,203 — —
Loss on investments .......................... 30,507 — 4,445
Other expense (income) ........................ 9,599 (31) (79)
Loss from operations ........................ (5,036,749) (513,090) (1,067,724)
Impairment of parts ........................... — — 10,917
Restructuring and related costs................... 10,434 — —
Impairment of goodwill ........................ 4,766,190 — —
Depreciation and amortization ................... 203,752 106,780 105,749
Share-based payment expense ................... 87,405 78,900 437,918
Adjusted income (loss) from operations .............. $ 31,032 $(327,410) $ (513,140)
(21) ARPU is derived from total earned subscriber revenue and net advertising revenue, divided by the number of
months in the period, divided by the daily weighted average number of subscribers for the period. ARPU is
calculated as follows (in thousands, except for per subscriber amounts):
2008 2007 2006
Unaudited Actual
For the Three Months Ended December 31,
Subscriber revenue ............................. $ 565,435 $ 227,658 $ 167,210
Net advertising revenue ......................... 15,776 9,770 8,451
Total subscriber and net advertising revenue ........ $ 581,211 $ 237,428 $ 175,661
Daily weighted average number of subscribers ........ 18,910,689 7,878,574 5,361,322
ARPU ...................................... $ 10.24 $ 10.05 $ 10.92
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