XM Radio 2009 Annual Report Download - page 151
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(23) Customer service and billing expenses, as adjusted, per average subscriber is calculated as follows (in
thousands, except for subscriber and per subscriber amounts):
2009 2008 2007
For the Years Ended December 31,
Unaudited Actual
Customer service and billing expenses ............. $ 234,456 $ 165,036 $ 93,817
Less: share-based payment expense ................ (2,051) (1,920) (708)
Customer service and billing expenses, as adjusted .... $ 232,405 $ 163,116 $ 93,109
Daily weighted average number of subscribers ....... 18,529,696 13,378,035 7,082,927
Customer service and billing expenses, as adjusted, per
average subscriber .......................... $ 1.05 $ 1.02 $ 1.10
(24) Free cash flow is calculated as follows (in thousands):
2009 2008 2007
For the Years Ended December 31,
Unaudited Actual
Net cash provided by (used in) operating activities ........ $433,830 $(152,797) $(148,766)
Additions to property and equipment ................... (248,511) (130,551) (65,264)
Merger related costs ............................... — (23,519) (29,444)
Restricted and other investment activity................. — 62,400 24,850
Free cash flow ................................... $185,319 $(244,467) $(218,624)
(25) Adjusted income (loss) from operations is calculated as follows (in thousands):
2009 2008 2007
For the Years Ended December 31,
Unaudited Actual
Reconciliation of Net loss to Adjusted income (loss) from
operations:
Net loss ..................................... $(342,790) $(5,313,288) $(565,252)
Add back Net loss items excluded from Adjusted income
(loss) from operations:
Interest and investment income .................... (3,645) (9,079) (20,570)
Interest expense, net of amounts capitalized .......... 306,420 144,833 70,328
Income tax expense ............................ 5,981 2,476 2,435
Loss on extinguishment of debt and credit facilities,
net....................................... 267,646 98,203 —
(Gain) loss on investments ....................... (1,931) 30,507 —
Other (income) expense ......................... (3,355) 9,599 (31)
Income (loss) from operations ................... 228,326 (5,036,749) (513,090)
Restructuring, impairments and related costs .......... 32,807 10,434 —
Impairment of goodwill ......................... — 4,766,190 —
Depreciation and amortization .................... 309,450 203,752 106,780
Share-based payment expense ..................... 73,981 87,405 78,900
Adjusted income (loss) from operations . . . ............ $644,564 $ 31,032 $(327,410)
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