XM Radio 2013 Annual Report Download - page 87

SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of December 31,
2013 2012
(in thousands, except share and per share data)
ASSETS
Current assets:
Cash and cash equivalents ........................................................... $ 134,805 $ 520,945
Accounts receivable, net ............................................................. 103,937 106,142
Receivables from distributors ......................................................... 88,975 104,425
Inventory, net ..................................................................... 13,863 25,337
Prepaid expenses ................................................................... 110,530 122,157
Related party current assets .......................................................... 9,145 13,167
Deferred tax asset .................................................................. 937,598 923,972
Other current assets ................................................................. 20,160 12,037
Total current assets ............................................................... 1,419,013 1,828,182
Property and equipment, net ............................................................ 1,594,574 1,571,922
Long-term restricted investments ........................................................ 5,718 3,999
Deferred financing fees, net ............................................................ 12,604 38,677
Intangible assets, net .................................................................. 2,700,062 2,519,610
Goodwill ........................................................................... 2,204,553 1,815,365
Related party long-term assets .......................................................... 30,164 44,954
Long-term deferred tax asset ........................................................... 868,057 1,219,256
Other long-term assets ................................................................ 10,035 12,878
Total assets ................................................................... $8,844,780 $ 9,054,843
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses ................................................ $ 578,333 $ 587,652
Accrued interest ................................................................... 42,085 33,954
Current portion of deferred revenue .................................................... 1,586,611 1,474,138
Current portion of deferred credit on executory contracts ................................... 3,781 207,854
Current maturities of long-term debt ................................................... 496,815 4,234
Current maturities of long-term related party debt ......................................... 10,959 —
Related party current liabilities ........................................................ 20,320 6,756
Total current liabilities .......................................................... 2,738,904 2,314,588
Deferred revenue .................................................................... 149,026 159,501
Deferred credit on executory contracts .................................................... 1,394 5,175
Long-term debt ...................................................................... 3,093,821 2,222,080
Long-term related party debt ........................................................... — 208,906
Related party long-term liabilities ....................................................... 16,337 18,966
Other long-term liabilities .............................................................. 99,556 86,062
Total liabilities ................................................................ 6,099,038 5,015,278
Commitments and contingencies (Note 16)
Stockholders’ equity:
Convertible perpetual preferred stock, series B-1, par value $0.001 (liquidation preference of $0.001
per share); 50,000,000 authorized and 0 and 6,250,100 shares issued and outstanding at
December 31, 2013 and 2012, respectively ............................................ — 6
Common stock, par value $0.001; 9,000,000,000 shares authorized at December 31, 2013 and 2012;
6,096,220,526 and 5,262,440,085 shares issued and outstanding at December 31, 2013 and 2012,
respectively ..................................................................... 6,096 5,263
Accumulated other comprehensive (loss) income, net of tax ................................... (308) 120
Additional paid-in capital .............................................................. 8,674,129 10,345,566
Accumulated deficit .................................................................. (5,934,175) (6,311,390)
Total stockholders’ equity ....................................................... 2,745,742 4,039,565
Total liabilities and stockholders’ equity ............................................ $8,844,780 $ 9,054,843
See accompanying notes to the consolidated financial statements.
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