XM Radio 2012 Annual Report Download - page 90

SIRIUS XM RADIO INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of December 31,
2012 2011
(in thousands, except share and per share data)
ASSETS
Current assets:
Cash and cash equivalents ................................................................. $ 520,945 $ 773,990
Accounts receivable, net ................................................................... 106,142 101,705
Receivables from distributors ............................................................... 104,425 84,817
Inventory, net ........................................................................... 25,337 36,711
Prepaid expenses ......................................................................... 122,157 125,967
Related party current assets ................................................................. 13,167 14,702
Deferred tax asset ........................................................................ 923,972 132,727
Other current assets ....................................................................... 12,037 6,335
Total current assets ..................................................................... 1,828,182 1,276,954
Property and equipment, net .................................................................. 1,571,922 1,673,919
Long-term restricted investments .............................................................. 3,999 3,973
Deferred financing fees, net .................................................................. 38,677 42,046
Intangible assets, net ........................................................................ 2,519,610 2,573,638
Goodwill ................................................................................. 1,815,365 1,834,856
Related party long-term assets ................................................................ 44,954 54,953
Long-term deferred tax asset .................................................................. 1,219,256 —
Other long-term assets ...................................................................... 12,878 35,657
Total assets ......................................................................... $ 9,054,843 $ 7,495,996
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses .................................................... $ 587,652 $ 543,193
Accrued interest ....................................................................... 33,954 70,405
Current portion of deferred revenue ........................................................ 1,474,138 1,333,965
Current portion of deferred credit on executory contracts ....................................... 207,854 284,108
Current maturities of long-term debt ....................................................... 4,234 1,623
Related party current liabilities ............................................................ 6,756 14,302
Total current liabilities ................................................................ 2,314,588 2,247,596
Deferred revenue ........................................................................... 159,501 198,135
Deferred credit on executory contracts .......................................................... 5,175 218,199
Long-term debt ............................................................................ 2,222,080 2,683,563
Long-term related party debt .................................................................. 208,906 328,788
Deferred tax liability ........................................................................ 69 1,011,084
Related party long-term liabilities .............................................................. 18,966 21,741
Other long-term liabilities .................................................................... 85,993 82,745
Total liabilities ...................................................................... 5,015,278 6,791,851
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred stock, par value $0.001; 50,000,000 authorized at December 31, 2012 and 2011:
Series A convertible preferred stock; no shares issued and outstanding at December 31, 2012 and 2011 . . — —
Convertible perpetual preferred stock, series B-1 (liquidation preference of $0.001 per share at
December 31, 2012 and 2011); 6,250,100 and 12,500,000 shares issued and outstanding at
December 31, 2012 and 2011, respectively ................................................ 6 13
Common stock, par value $0.001; 9,000,000,000 shares authorized at December 31, 2012 and 2011;
5,262,440,085 and 3,753,201,929 shares issued and outstanding at December 31, 2012 and 2011,
respectively ........................................................................... 5,263 3,753
Accumulated other comprehensive income, net of tax .............................................. 120 71
Additional paid-in capital .................................................................... 10,345,566 10,484,400
Accumulated deficit ........................................................................ (6,311,390) (9,784,092)
Total stockholders’ equity .............................................................. 4,039,565 704,145
Total liabilities and stockholders’ equity .................................................. $ 9,054,843 $ 7,495,996
See accompanying notes to the consolidated financial statements.
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