XM Radio 2014 Annual Report Download - page 110

SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data) 2014 2013
As of December 31,
ASSETS
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 147,724 $ 134,805
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220,579 192,912
Inventory, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,397 13,863
Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116,336 110,530
Related party current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,344 9,145
Deferred tax asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,038,603 937,598
Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,763 20,160
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,549,746 1,419,013
Property and equipment, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,510,112 1,594,574
Long-term restricted investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,922 5,718
Deferred financing fees, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,021 12,604
Intangible assets, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,645,046 2,700,062
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,205,107 2,204,553
Related party long-term assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000 30,164
Long-term deferred tax asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 437,736 868,057
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,819 10,035
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,375,509 $ 8,844,780
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 587,755 $ 578,333
Accrued interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,440 42,085
Current portion of deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,632,381 1,586,611
Current portion of deferred credit on executory contracts. . . . . . . . . . . . . 1,394 3,781
Current maturities of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,482 496,815
Current maturities of long-term related party debt . . . . . . . . . . . . . . . . . . . . — 10,959
Related party current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,340 20,320
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,313,792 2,738,904
Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151,901 149,026
Deferred credit on executory contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,394
Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,493,863 3,093,821
Related party long-term liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,635 16,337
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92,481 99,556
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,065,672 6,099,038
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, undesignated, par value $0.001 (liquidation
preference of $0.001 per share); 50,000,000 shares authorized and
0 shares issued and outstanding at December 31, 2014 and
December 31, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Common stock, par value $0.001; 9,000,000,000 shares authorized;
5,653,529,403 and 6,096,220,526 shares issued; 5,646,119,122
and 6,096,220,526 outstanding at December 31, 2014 and
December 31, 2013, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,653 6,096
Accumulated other comprehensive loss, net of tax . . . . . . . . . . . . . . . . . . . . . (402) (308)
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,771,554 8,674,129
Treasury stock, at cost; 7,410,281 and 0 shares of common stock at
December 31, 2014 and December 31, 2013, respectively . . . . . . . . . . . (26,034) —
Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,440,934) (5,934,175)
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,309,837 2,745,742
Total liabilities and stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,375,509 $ 8,844,780
See accompanying notes to the consolidated financial statements.
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