XM Radio 2013 Annual Report Download - page 74
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Unaudited For the Year Ended December 31, 2012
(in thousands) As Reported
Purchase Price
Accounting
Adjustments
Allocation of
Share-based
Payment Expense Adjusted
Revenue:
Subscriber revenue ............... $2,962,665 $ 228 $ — $2,962,893
Advertising revenue .............. 82,320 — — 82,320
Equipment revenue ............... 73,456 — — 73,456
Other revenue ................... 283,599 7,251 — 290,850
Total revenue ...................... $3,402,040 $ 7,479 $ — $3,409,519
Operating expenses
Cost of services:
Revenue share and royalties ...... $ 551,012 $146,601 $ — $ 697,613
Programming and content ........ 278,997 37,346 (6,120) 310,223
Customer service and billing ...... 294,980 — (1,847) 293,133
Satellite and transmission ........ 72,615 — (3,329) 69,286
Cost of equipment .............. 31,766 — — 31,766
Subscriber acquisition costs ........ 474,697 90,503 — 565,200
Sales and marketing .............. 248,905 14,828 (10,310) 253,423
Engineering, design and
development .................. 48,843 — (6,238) 42,605
General and administrative ......... 261,905 — (35,978) 225,927
Depreciation and amortization (a) .... 266,295 — — 266,295
Share-based payment expense ....... — — 63,822 63,822
Total operating expenses ............. $2,530,015 $289,278 $ — $2,819,293
(a) Purchase price accounting adjustments included above exclude the incremental depreciation and amortization associated
with the $785,000 stepped up basis in property, equipment and intangible assets as a result of the Merger. The increased
depreciation and amortization for December 31, 2012 was $53,000.
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