XM Radio 2015 Annual Report Download - page 87
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executory contracts recognized at the Merger date attributable to an OEM. SAC, per installation, is
calculated as follows:
2015 2014 2013
For the Years Ended December 31,
Unaudited
Subscriber acquisition costs (GAAP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . $532,599 $493,464 $495,610
Less: margin from direct sales of radios and accessories
(GAAP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (68,199) (60,264) (54,095)
Add: purchase price accounting adjustments . . . . . . . . . . . . . . . . . . . . — — 64,365
$464,400 $433,200 $505,880
Installations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,041 12,788 11,765
SAC, per installation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 33 $ 34 $ 43
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