XM Radio 2009 Annual Report Download - page 195

SIRIUS XM RADIO INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2009
Sirius XM Radio
Inc.
Sirius Asset Mgmt
LLC Satellite CD Radio
Non-
Guarantors Eliminations
Consolidated
Sirius XM Radio
Inc.
(In thousands)
Current assets:
Cash and cash equivalents . . .......... $ 171,265 $ — $ — $ 212,224 $ — $ 383,489
Accounts receivable, net.............. 102,276 — — 60,042 — 162,318
Due from subsidiaries/affiliates ......... 127,110 (9) — 930 (128,031) —
Inventory, net . .................... 12,177 — — 4,016 — 16,193
Prepaid expenses . . . ............... 25,042 — — 75,231 — 100,273
Related party current assets . .......... 2,768 — — 103,479 — 106,247
Deferred tax asset . . . ............... 7,999 — — 64,641 — 72,640
Other current assets. . ............... 12,896 — — 5,724 — 18,620
Total current assets ............... 461,533 (9) — 526,287 (128,031) 859,780
Property and equipment, net . . . .......... 894,485 17,113 — 799,405 — 1,711,003
Investment in subsidiaries/affiliates . . . ..... (673,110) — — — 673,110 —
FCC licenses. . . .................... — — 83,654 2,000,000 — 2,083,654
Restricted investments . ............... 3,150 — — 250 — 3,400
Deferred financing fees, net . . . .......... 3,595 — — 5,307 — 8,902
Intangible assets, net . . ............... — — — 611,461 — 611,461
Goodwill ......................... — — — — 1,834,856 1,834,856
Due from subsidiaries/affiliates . .......... — — — — — —
Related party long-term assets . .......... 155 — — 110,439 — 110,594
Other long-term assets . ............... 14,350 — — 25,528 — 39,878
Total assets .................... $ 704,158 $17,104 $ 83,654 $ 4,078,677 $ 2,379,935 $ 7,263,528
Current liabilities:
Accounts payable and accrued expenses . . . $ 343,131 $ — $ — $ 207,803 $ (7,248) $ 543,686
Accrued interest ................... 27,627 — — 46,939 — 74,566
Due to subsidiaries/affiliates . .......... — 17,521 477 110,032 (128,030) —
Current portion of deferred revenue . ..... 569,742 — — 509,215 7,248 1,086,205
Current portion of deferred credit on
executory contracts ............... — — — 252,831 — 252,831
Current maturities of long-term debt . ..... 2,500 — — 11,382 — 13,882
Related party current liabilities ......... 3,934 — — 101,537 — 105,471
Total current liabilities . . . .......... 946,934 17,521 477 1,239,739 (128,030) 2,076,641
Deferred revenue .................... 121,286 — — 162,656 — 283,942
Deferred credit on executory contracts . ..... — — — 784,078 — 784,078
Long-term debt . .................... 1,109,893 — — 1,502,349 186,885 2,799,127
Long-term related party debt . . .......... 102,577 — — 157,183 3,806 263,566
Deferred tax liability . . ............... 7,999 — 16,908 915,275 — 940,182
Related party long-term liabilities ......... — — — 17,508 — 17,508
Other long-term liabilities .............. 22,201 — — 38,851 — 61,052
Total liabilities . . . ............... 2,310,890 17,521 17,385 4,817,639 62,661 7,226,096
Commitments and contingencies
Stockholders’ equity (deficit):
Preferred and common stock . .......... 3,920 — — — — 3,920
Accumulated other comprehensive loss .... (6,581) — — (6,581) 6,581 (6,581)
Additional paid-in-capital . . . .......... 10,281,331 — 83,654 5,989,700 (6,073,354) 10,281,331
Retained earnings (accumulated deficit).... (11,885,402) (417) (17,385) (6,722,081) 8,384,047 (10,241,238)
Total stockholders’ equity (deficit) ..... (1,606,732) (417) 66,269 (738,962) 2,317,274 37,432
Total liabilities and stockholders’ equity . . $ 704,158 $17,104 $ 83,654 $ 4,078,677 $ 2,379,935 $ 7,263,528
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SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)