XM Radio 2015 Annual Report Download - page 95

SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data) 2015 2014
As of December 31,
ASSETS
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 111,838 $ 147,724
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234,782 220,579
Inventory, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,295 19,397
Related party current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,941 4,344
Deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,038,603
Prepaid expenses and other current assets . . . . . . . . . . . . . . . . . . . . . . . . . 187,033 119,099
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 561,889 1,549,746
Property and equipment, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,415,401 1,510,112
Long-term restricted investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,888 5,922
Intangible assets, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,593,346 2,645,046
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,205,107 2,205,107
Related party long-term assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 3,000
Deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,115,731 437,736
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145,300 12,396
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,046,662 $ 8,369,065
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable and accrued expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 625,313 $ 587,755
Accrued interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91,655 80,440
Current portion of deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,771,915 1,632,381
Current portion of deferred credit on executory contracts . . . . . . . . . . . . . — 1,394
Current maturities of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,764 7,482
Related party current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,840 4,340
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,496,487 2,313,792
Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157,609 151,901
Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,443,614 4,487,419
Related party long-term liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,795 13,635
Deferred tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,681 —
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97,967 92,481
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,213,153 7,059,228
Commitments and contingencies (Note 16)
Stockholders’ (deficit) equity:
Preferred stock, undesignated, par value $0.001 (liquidation
preference of $0.001 per share); 50,000 shares authorized and
0 shares issued and outstanding at December 31, 2015 and
December 31, 2014, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Common stock, par value $0.001; 9,000,000 shares authorized;
5,153,451 and 5,653,529 shares issued; 5,147,647 and 5,646,119
outstanding at December 31, 2015 and December 31, 2014,
respectively. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,153 5,653
Accumulated other comprehensive loss, net of tax . . . . . . . . . . . . . . . . . . . . . (502) (402)
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,783,795 6,771,554
Treasury stock, at cost; 5,804 and 7,410 shares of common stock at
December 31, 2015 and December 31, 2014, respectively . . . . . . . . . . . (23,727) (26,034)
Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,931,210) (5,440,934)
Total stockholders’ (deficit) equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (166,491) 1,309,837
Total liabilities and stockholders’ (deficit) equity . . . . . . . . . . . . . . . . . $ 8,046,662 $ 8,369,065
See accompanying notes to the consolidated financial statements.
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