XM Radio 2008 Annual Report Download - page 94

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trademarks, copyrights or other intellectual property. None of these actions are, in our opinion, likely to have a
material adverse effect on our cash flows, financial position or results of operations.
(17) Quarterly Financial Data — Unaudited
Our quarterly results of operations are summarized below:
March 31 June 30 September 30 December 31
For the Three Months Ended
2008:(1)
Total revenue ............................. $270,350 $ 283,017 $ 488,443 $ 622,182
Cost of services ........................... (146,344) (141,933) (272,360) (302,810)
Loss from operations . . ..................... (88,625) (68,049) (4,826,977) (53,098)
Net loss ................................. (104,118) (83,899) (4,879,427) (245,844)
Net loss per common share — basic and
diluted(2) .............................. $ (0.07) $ (0.06) $ (1.93) $ (0.08)
2007:
Total revenue ............................. $204,037 $ 226,427 $ 241,786 $ 249,816
Cost of services ........................... (123,429) (120,493) (126,547) (169,846)
Loss from operations . . ..................... (135,045) (122,600) (105,691) (149,754)
Net loss ................................. (144,745) (134,147) (120,137) (166,223)
Net loss per common share — basic and
diluted(2) .............................. $ (0.10) $ (0.09) $ (0.08) $ (0.11)
(1) The results of XM Holdings are included in the periods effective August 1, 2008.
(2) The sum of the quarterly net loss per share applicable to common stockholders (basic and diluted) does not
necessarily agree to the net loss per share for the year due to the timing of our common stock issuances.
(18) Condensed Consolidating Financial Information
Sirius Asset Management, LLC and Satellite CD Radio, Inc. (collectively, the “Guarantor Subsidiaries”) are
our wholly owned subsidiaries. The Guarantor Subsidiaries have fully and unconditionally, jointly and severally,
directly or indirectly, guaranteed, on an unsecured basis, the debt issued by us in connection with certain of our
financings. Our unrestricted subsidiary, XM Satellite Radio Holdings Inc. and its consolidated subsidiaries, are non-
guarantor subsidiaries.
These condensed consolidating financial statements should be read in conjunction with the consolidated
financial statements of Sirius XM Radio Inc. and Subsidiaries.
Basis of Presentation
In presenting the condensed consolidating financial statements, the equity method of accounting has been
applied to (i) our interests in the Guarantor Subsidiaries and (ii) the Guarantor Subsidiaries’ interests in the Non-
Guarantor Subsidiaries, where applicable, even though all such subsidiaries meet the requirements to be consol-
idated under U.S. generally accepted accounting principles. All intercompany balances and transactions between
us, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries have been eliminated, as shown in the column
“Eliminations.”
Our accounting bases in all subsidiaries, including goodwill and identified intangible assets, have been
“pushed down” to the applicable subsidiaries.
F-44
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)