XM Radio 2009 Annual Report Download - page 198
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SIRIUS XM RADIO INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2008
Sirius XM Radio
Inc.
Sirius Asset Mgmt
LLC Satellite CD Radio
Non-
Guarantors Eliminations
Consolidated
Sirius XM Radio
Inc.
(In thousands)
Revenue ................. $1,151,906 $ — $ — $ 512,086 $ — $ 1,663,992
Cost of services. . . .......... 621,877 — — 241,570 — 863,447
Sales and marketing .......... 149,936 — — 82,001 — 231,937
Subscriber acquisition costs ..... 306,130 — — 65,213 — 371,343
General and administrative ..... 165,738 — — 47,404 — 213,142
Engineering, design and
development . . . .......... 28,838 — — 11,658 — 40,496
Impairment of goodwill . . ..... — — — 6,601,046 (1,834,856) 4,766,190
Depreciation and amortization . . . 109,370 72 — 94,310 — 203,752
Restructuring, impairments and
related costs . . . .......... 10,434 — — — — 10,434
Total operating expenses .... 1,392,323 72 — 7,143,202 (1,834,856) 6,700,741
Income (loss) from operations . . . (240,417) (72) — (6,631,116) 1,834,856 (5,036,749)
Other income (expense):
Interest and investment
income ............... 5,783 — — 3,296 — 9,079
Interest expense, net of amounts
capitalized . . . .......... (71,605) — — (107,155) 33,927 (144,833)
Gain (loss) on change in value
of embedded derivative .... — — — 322,347 (322,347) —
Loss on extinguishment of debt
and credit facilities, net .... (98,203) — — — — (98,203)
Gain (loss) on investments .... (6,451,286) — — (25,762) 6,446,541 (30,507)
Other income (expense) . ..... (4,472) — — (5,127) — (9,599)
Income (loss) before income
taxes . . . ............... (6,860,200) (72) — (6,443,517) 7,992,977 (5,310,812)
Income tax expense . . ..... 477 — (1,990) (963) — (2,476)
Net income (loss) . .......... $(6,859,723) $(72) $(1,990) $(6,444,480) $ 7,992,977 $(5,313,288)
F-44
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)