XM Radio 2010 Annual Report Download - page 130

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Repurchase of 3.25% Notes
In February 2011, $94,148 of the 3.25% Notes was purchased, for an aggregate purchase price of $96,041. A
loss from extinguishment of debt of $1,079 will be recorded in the first quarter of 2011.
Canada Merger
Canadian Satellite Radio Holdings Inc. (“CSR”), parent company of XM Canada, and SIRIUS Canada
announced in November 2010 that they have entered into a definitive agreement to combine the companies (the
“Canada Merger”). Under the terms of the agreement, SIRIUS Canada shareholders will be issued shares of CSR
representing a 58.0% equity interest in CSR immediately following closing of the transaction. Our approximate
ownership interest in CSR following closing of the Canada Merger will be a 37.1% equity interest (25.0% voting
interest) representing approximately 45.5 million shares and will be accounted for under the equity method. The
Canada Merger is anticipated to close during the second quarter of 2011. We are still evaluating the impact of the
Canada Merger on our financial statements.
(17) Quarterly Financial Data — Unaudited
Our quarterly results of operations are summarized below:
March 31 June 30 September 30 December 31
For the Three Months Ended
2010:
Total revenue ...................... $663,784 $ 699,761 $ 717,548 $ 735,899
Cost of services .................... $(260,867) $(266,121) $(280,545) $(291,699)
Income from operations .............. $125,140 $ 125,634 $ 143,069 $ 71,571
Net income (loss) ................... $ 41,598 $ 15,272 $ 67,629 $ (81,444)
Net income (loss) per common share —
basic(1) ........................ $ 0.01 $ — $ 0.02 $ (0.02)
Net income (loss) per common share —
diluted(1) ....................... $ 0.01 $ — $ 0.01 $ (0.02)
2009:
Total revenue ...................... $586,979 $ 590,829 $ 618,656 $ 676,174
Cost of services .................... $(268,947) $(254,432) $(266,888) $(273,741)
Income from operations .............. $ 41,061 $ 37,235 $ 66,355 $ 83,675
Net (loss) income ................... $ (52,648) $(159,644) $(151,527) $ 11,781
Net loss per common share — basic and
diluted(1) ....................... $ (0.07) $ (0.04) $ (0.04) $ —
(1) The sum of the quarterly net loss per share applicable to common stockholders (basic and diluted) does not necessarily agree
to the net loss per share for the year due to the timing of our common stock issuances.
F-42
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)