XM Radio 2009 Annual Report Download - page 197
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SIRIUS XM RADIO INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2009
Sirius XM Radio
Inc.
Sirius Asset Mgmt
LLC Satellite CD Radio
Non-
Guarantors Eliminations
Consolidated
Sirius XM Radio
Inc.
(In thousands)
Revenue.................. $1,174,759 $ — $ — $1,297,879 $ — $2,472,638
Cost of services . ............ 573,898 8 — 490,102 — 1,064,008
Sales and marketing . . . ....... 82,266 — — 146,690 — 228,956
Subscriber acquisition costs . . . . . 215,787 — — 124,719 — 340,506
General and administrative ...... 114,058 — — 113,496 — 227,554
Engineering, design and
development . . ............ 19,360 — — 21,671 — 41,031
Depreciation and amortization . . . . 117,416 254 — 191,780 — 309,450
Restructuring, impairments and
related costs . . ............ 553 — — 32,254 — 32,807
Total operating expenses . . . . 1,123,338 262 — 1,120,712 — 2,244,312
Income (loss) from operations . . . . 51,421 (262) — 177,167 — 228,326
Other income (expense):
Interest and investment income . . 1,008 — — 2,637 — 3,645
Interest expense, net of amounts
capitalized . ............ (80,315) — — (289,845) 63,740 (306,420)
Gain (loss) on change in value of
embedded derivative ....... — — — (33,534) 33,534 —
Loss on extinguishment of debt
and credit facilities, net . . . . . (152,216) — — (115,885) 455 (267,646)
Gain (loss) on investments . . . . . (258,954) — — (7,026) 267,911 1,931
Other income (expense) ...... (91) — — 3,446 — 3,355
Income (loss) before income
taxes . . ................. (439,147) (262) — (263,040) 365,640 (336,809)
Income tax expense ....... (1,371) — (2,147) (2,463) — (5,981)
Net income (loss) ............ (440,518) (262) (2,147) (265,503) 365,640 (342,790)
Preferred stock beneficial
conversion feature . . . ....... (186,188) — — — — (186,188)
Net income (loss) attributable to
common stockholders . ....... $(626,706) $(262) $(2,147) $ (265,503) $365,640 $ (528,978)
F-43
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)