XM Radio 2009 Annual Report Download - page 196

SIRIUS XM RADIO INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2008
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 . . .......... $ 173,647 $ — $ — $ 206,799 $ — $ 380,446
Accounts receivable, net.............. 95,247 — — 52,727 — 147,974
Due from subsidiaries/affiliates ......... 64,279 — — 2,751 (67,030) —
Inventory, net . .................... 19,973 — — 4,489 — 24,462
Prepaid expenses . . . ............... 29,852 — — 37,351 — 67,203
Related party current assets . .......... 1,814 — — 108,613 — 110,427
Deferred tax asset . . . ............... 4,992 — — 38,051 (11,773) 31,270
Other current assets. . ............... 12,521 — — 14,953 — 27,474
Total current assets ............... 402,325 — — 465,734 (78,803) 789,256
Property and equipment, net . . . .......... 816,562 12,326 — 874,588 — 1,703,476
Investment in subsidiaries/affiliates . . . ..... (525,687) — — — 525,687 —
FCC licenses. . . .................... — — 83,654 2,000,000 — 2,083,654
Restricted investments . ............... 21,000 — — 120,250 — 141,250
Deferred financing fees, net . . . .......... 4,400 — — 4,797 — 9,197
Intangible assets, net . . ............... — — — 688,671 — 688,671
Goodwill ......................... — — — — 1,834,856 1,834,856
Related party long-term assets . .......... — — — 128,357 — 128,357
Other long-term assets . ............... 46,735 — — 34,284 — 81,019
Total assets .................... $ 765,335 $12,326 $ 83,654 $ 4,316,681 $ 2,281,740 $ 7,459,736
Current liabilities:
Accounts payable and accrued expenses . . . $ 387,747 $ — $ — $ 245,598 $ (8,081) $ 625,264
Accrued interest ................... 25,920 — — 50,543 — 76,463
Due to subsidiaries/affiliates . .......... — 12,481 477 15,497 (28,455) —
Current portion of deferred revenue . ..... 574,948 — — 419,707 8,081 1,002,736
Current portion of deferred credit on
executory contracts ............... — — — 234,774 — 234,774
Current maturities of long-term debt . ..... 4,244 — — 355,739 39,743 399,726
Related party current liabilities ......... 23,018 — — 83,930 (38,575) 68,373
Total current liabilities . . . .......... 1,015,877 12,481 477 1,405,788 (27,287) 2,407,336
Deferred revenue .................... 116,634 — — 131,255 — 247,889
Deferred credit on executory contracts . ..... — — — 1,037,190 — 1,037,190
Long-term debt . .................... 1,158,508 — — 1,413,596 248,677 2,820,781
Deferred tax liability . . ............... 4,990 — 14,761 886,475 (11,773) 894,453
Related party long-term liabilities ......... — — — — — —
Other long-term liabilities .............. 7,225 — — 36,325 — 43,550
Total liabilities . . . ............... 2,303,234 12,481 15,238 4,910,629 209,617 7,451,199
Commitments and contingencies
Stockholders’ equity (deficit):
Common and preferred stock .......... 3,677 — — — — 3,677
Accumulated other comprehensive loss .... (7,871) — — (7,871) 7,871 (7,871)
Additional paid-in-capital . . . .......... 9,724,991 — 83,654 5,870,502 (5,954,156) 9,724,991
Retained earnings (accumulated deficit).... (11,258,696) (155) (15,238) (6,456,579) 8,018,408 (9,712,260)
Total stockholders’ equity (deficit) ..... (1,537,899) (155) 68,416 (593,948) 2,072,123 8,537
Total liabilities and stockholders’ equity . . $ 765,335 $12,326 $ 83,654 $ 4,316,681 $ 2,281,740 $ 7,459,736
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SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)