XM Radio 2013 Annual Report Download - page 124

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(Dollar amounts in thousands, unless otherwise stated)
directors at December 31, 2013 and 2012, net of estimated forfeitures, were $164,292 and $129,010,
respectively. The total unrecognized compensation costs at December 31, 2013 are expected to be recognized
over a weighted-average period of 3 years.
401(k) Savings Plan
We sponsor the Sirius XM Holdings Inc. 401(k) Savings Plan (the “Sirius XM Plan”) for eligible
employees. The Sirius XM Plan allows eligible employees to voluntarily contribute from 1% to 50% of their pre-
tax eligible earnings, subject to certain defined limits. We match 50% of an employee’s voluntary contributions,
up to 6% of an employee’s pre-tax salary, in cash which is used to purchase shares of our common stock on the
open market. Employer matching contributions under the Sirius XM Plan vest at a rate of 33.33% for each year
of employment and are fully vested after three years of employment for all current and future contributions.
During the year ended December 31, 2013 we contributed $4,181 to the Sirius XM Plan in fulfillment of our
matching obligation. During the years ended December 31, 2012 and 2011, employer matching contributions
were made in the form of shares of our common stock, resulting in share-based payment expense of $3,523 and
$3,041, respectively.
(16) Commitments and Contingencies
The following table summarizes our expected contractual cash commitments as of December 31, 2013:
2014 2015 2016 2017 2018 Thereafter Total
Debt obligations ...... $ 509,663 $ 7,359 $ 4,140 $460,799 $ — $2,650,000 $3,631,961
Cash interest
payments .......... 187,905 152,440 152,255 152,699 138,063 399,813 1,183,175
Satellite and
transmission ........ 37,849 13,993 4,321 3,404 3,992 16,524 80,083
Programming and
content ............ 245,069 218,373 96,737 72,837 60,150 108,333 801,499
Marketing and
distribution ........ 32,578 15,332 9,951 6,700 6,173 6,639 77,373
Satellite incentive
payments .......... 11,511 11,439 12,290 13,212 14,212 55,398 118,062
Operating lease
obligations ......... 38,181 43,053 36,860 30,475 28,825 221,626 399,020
Other ............... 41,021 9,989 3,209 851 367 — 55,437
Total (1) ........... $1,103,777 $471,978 $319,763 $740,977 $251,782 $3,458,333 $6,346,610
(1) The table does not include our reserve for uncertain tax positions, which at December 31, 2013 totaled $1,432, as the
specific timing of any cash payments cannot be projected with reasonable certainty.
Debt obligations. Debt obligations include principal payments on outstanding debt and capital lease
obligations.
Cash interest payments. Cash interest payments include interest due on outstanding debt and capital lease
payments through maturity.
F-42