XM Radio 2015 Annual Report Download - page 38

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we remain well positioned to capitalize on opportunities and successfully address future challenges.
The following description highlights our financial and operating results for 2015:
Key Subscriber and Content–Based Achievements in 2015
Purchased over
524 million
shares of our
stock in 2015
under our $8
billion stock
buyback
program
Increased
revenues by 9%
to $4.6 billion
Increased free
cash flow(1) by
14% to $1.3
billion
Realized Adjusted
EBITDA(1) growth
of 13% to $1.7
billion
Added approximately 2.3 million net new subscribers, resulting in a total of
approximately 29.6 million subscribers, an increase of over 8% as compared to 2014;
Entered into a new twelve-year agreement with Howard Stern under which Mr. Stern will
continue to produce and host his show on Sirius XM for the next five years and license
us the exclusive use of his entire audio and video library for twelve years;
Renewed our agreements with the National Football League, the National Hockey
League, and the PGA Tour, ensuring that our subscribers continue to have access to
comprehensive coverage of these major sports; and
Entered into agreements with Toyota and Nissan to provide connected vehicle services
for their vehicles, and with Audi, Jaguar, Land Rover and Subaru to provide support for
their new vehicle safety and security services.
(1) In this CD&A, we use certain financial performance measures that are not calculated and
presented in accordance with generally accepted accounting principles in the United States of
America (“Non-GAAP”). These Non-GAAP financial measures include adjusted EBITDA and free
cash flow. We use these Non-GAAP financial measures and other performance metrics to
manage our business, set operational goals and, in certain cases, as a basis for determining
compensation for our employees. Please refer to the glossary contained in our annual report for
the fiscal year ended December 31, 2015 which accompanies this proxy statement for a
discussion of such Non-GAAP financial measures, reconciliations to the most directly comparable
GAAP measure and a discussion of these other performance metrics.
28