XM Radio 2009 Annual Report Download - page 143
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As Reported
Predecessor
Financial
Information
Allocation of
Share-based
Payment Expense Pro Forma
Unaudited for the Three Months Ended December 31, 2007
(In thousands)
Revenue:
Subscriber revenue, including effects of rebates . . $ 227,658 $ 273,937 $ — $ 501,595
Advertising revenue, net of agency fees........ 9,770 10,801 — 20,571
Equipment revenue ....................... 12,065 13,068 — 25,133
Other revenue........................... 323 9,893 — 10,216
Total revenue ............................. 249,816 307,699 — 557,515
Operating expenses (depreciation and amortization
shown separately below)(1)
Cost of services:
Satellite and transmission ................ 5,175 20,304 (1,782) 23,697
Programming and content ................ 62,735 51,297 (4,956) 109,076
Revenue share and royalties .............. 56,762 106,779 — 163,541
Customer service and billing .............. 29,288 36,703 (985) 65,006
Cost of equipment ..................... 15,886 21,448 — 37,334
Sales and marketing ...................... 56,866 83,693 (16,848) 123,711
Subscriber acquisition costs ................ 100,062 90,028 (9,323) 180,767
General and administrative ................. 37,212 43,106 (16,095) 64,223
Engineering, design and development ......... 7,946 9,265 (2,908) 14,303
Depreciation and amortization ............... 27,638 47,407 — 75,045
Share-based payment expense ............... — — 52,897 52,897
Total operating expenses..................... 399,570 510,030 — 909,600
Loss from operations ..................... (149,754) (202,331) — (352,085)
Other income (expense)
Interest and investment income .............. 4,171 2,807 — 6,978
Interest expense, net of amounts capitalized .... (19,887) (28,816) — (48,703)
Loss on extinguishment of debt and credit
facilities, net .......................... — (728) — (728)
Loss on investments ...................... — (3,768) — (3,768)
Other income (expense) . . ................. 17 (5,851) — (5,834)
Total other expense ........................ (15,699) (36,356) — (52,055)
Loss before income taxes . ................. (165,453) (238,687) — (404,140)
Income tax expense ...................... (770) (131) — (901)
Net loss ............................. $(166,223) $(238,818) $ — $(405,041)
(1) Amounts related to share-based payment expense included in operating expenses were as follows:
Satellite and transmission ................ $ 364 $ 1,418 $ — $ 1,782
Programming and content ................ 2,786 2,170 — 4,956
Customer service and billing .............. 165 820 — 985
Sales and marketing . . . ................. 539 16,309 — 16,848
Subscriber acquisition costs ............... 156 9,167 — 9,323
General and administrative ............... 10,261 5,834 — 16,095
Engineering, design and development ....... 625 2,283 — 2,908
Total share-based payment expense ......... $ 14,896 $ 38,001 $ — $ 52,897
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