XM Radio 2012 Annual Report Download - page 85

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(2) The 2008 results and balances reflect the results and balances of XM Satellite Radio Holdings Inc. from the date of the
Merger and a $4,766,190 goodwill impairment charge.
(3) The net income (loss) per share-basic calculations were corrected for an immaterial error for the years ended
December 31, 2011 and 2010. See Notes 3 and 17 to our consolidated financial statements included in this Annual
Report.
(4) A special cash dividend was paid during 2012.
QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS
We do not hold or issue any free-standing derivatives. We hold investments in marketable securities
consisting of money market funds, and certificates of deposit and investments in debt and equity securities of
other entities. We classify our investments in marketable securities as available-for-sale. These securities are
consistent with the investment objectives contained within our investment policy. The basic objectives of our
investment policy are the preservation of capital, maintaining sufficient liquidity to meet operating requirements
and maximizing yield.
Our debt includes fixed rate instruments and the fair market value of our debt is sensitive to changes in
interest rates. Under our current policies, we do not use interest rate derivative instruments to manage our
exposure to interest rate fluctuations.
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
None.
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