XM Radio 2013 Annual Report Download - page 78

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Supplementary discussion for Sirius XM:
The consolidated statements of comprehensive income of Sirius XM are essentially identical to the
consolidated statements of comprehensive income of Holdings, except for the following:
For the Years Ended December 31,
2013 2012 2011
Net income attributable to Holdings .................... $377,215 $3,472,702 $426,961
Loss on change in value of derivative for forward contract
with Liberty Media included in Holdings’ consolidated
statements of comprehensive income (a) ............... 23,106 — —
Loss on change in fair value of 7% Exchangeable Senior
Subordinated Notes due 2014 included in Sirius XM’s
consolidated statements of comprehensive income (b) .... (466,815) — —
Net income attributable to Sirius XM’s sole stockholder .... $ (66,494) $3,472,702 $426,961
(a) The fair value of the Share Repurchase Agreement with Liberty Media is recorded in Holdings’ consolidated balance
sheet, with changes in fair value recorded in Holdings’ statements of comprehensive income. The impact of the Share
Repurchase Agreement is excluded from Sirius XM’s financial statements as the publicly traded common stock being
repurchased by Liberty Media resides at Holdings, effective November 15, 2013.
(b) The additional fair value in excess of the carrying amount associated with the 7% Exchangeable Senior Subordinated
Notes due 2014 is recorded in Sirius XM’s consolidated balance sheet, with changes in fair value recorded in Sirius
XM’s statements of comprehensive income. This is eliminated in Holdings’ consolidated balance sheets and statements
of comprehensive income.
For a discussion and analysis of Sirius XM’s financial condition and results, refer to “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” included in this Section.
ISSUER PURCHASES OF EQUITY SERVICES
The following table provides information about our purchases of equity securities registered pursuant to
Section 12 of the Securities Exchange Act of 1934, as amended, during the quarter ended December 31, 2013:
Period
Total
Number of
Shares Purchased
Average
Price Paid
Per Share (1)
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the Plans
or Programs (1)
October 1, 2013 — October 31,
2013 .......................... — $ — — $2,397,639,899
November 1, 2013 — November 30,
2013 .......................... 43,712,265 $3.66 43,712,265 $2,237,639,895
December 1, 2013 — December 31,
2013 .......................... — $ — — $2,237,639,895
Total ......................... 43,712,265 $3.66 43,712,265 $2,237,639,895
(1) These amounts include fees and commissions associated with the shares repurchased.
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