XM Radio 2008 Annual Report Download - page 103

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SIRIUS XM RADIO INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2006
Sirius XM
Radio Inc.
Sirius Asset
Mgmt LLC
Satellite
CD Radio Non-Guarantors Eliminations
Consolidated
Sirius XM
Radio Inc.
Net cash (used in) provided by
operating activities ............. $(425,390) $ 4,424 $— $ (736) $— $(421,702)
Cash flows from investing activities:
Additions to property and
equipment ................. (88,250) (4,424) — — — (92,674)
Sales of property and equipment . . . 127 — — — — 127
Purchases of restricted and other
investments ................ (12,339) — — — — (12,339)
Purchases of available-for-sale
securities .................. (123,500) — — — — (123,500)
Sale of restricted and other
investments ................ 255,715 — — — — 255,715
Net cash (used in) provided by
investing activities ......... 31,753 (4,424) — — — 27,329
Cash flows from financing activities:
Proceeds from exercise of warrants
and stock options ............ 25,787 — — — — 25,787
Net cash provided by (used in)
financing activities ......... 25,787 — — — — 25,787
Net increase (decrease) in cash and
cash equivalents ............... (367,850) — — (736) — (368,586)
Cash and cash equivalents at
beginning of period ............ 759,934 — — 2,073 — 762,007
Cash and cash equivalents at end of
period ...................... $392,084 $ — $— $1,337 $— $ 393,421
(19) Subsequent Events
Conversion of 21⁄2% Convertible Notes due 2009
Since December 31, 2008, we have issued an aggregate of 139,400,000 shares of our common stock in
exchange for $18,000 principal amount of our 21⁄2% Convertible Notes due 2009 (the “21⁄2% Notes”) beneficially
owned by institutional holders.
We did not receive any cash proceeds as a result of the exchange of our common stock for the 21⁄2% Notes,
which notes were retired and cancelled.
The issuance of the shares of our common stock were made pursuant to the exemption from the registration
requirements of the Securities Act of 1933, as amended, contained in Section 3(a)(9) of such Act.
F-53
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)