XM Radio 2015 Annual Report Download - page 127

Download and view the complete annual report

Please find page 127 of the 2015 XM Radio annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

Changes in our uncertain income tax positions, from January 1 through December 31 are
presented below:
2015 2014
Balance, beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,432 $1,432
Increases in tax positions for prior years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251,845 —
Balance, end of year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $253,277 $1,432
(18) Subsequent Events
Stock Repurchase Program
For the period from January 1, 2016 to January 29, 2016, we repurchased 51,883 shares of
our common stock on the open market for an aggregate purchase price of $194,127, including fees
and commissions.
(19) 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
2015
Total revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,080,990 $1,123,210 $1,169,712 $1,196,146
Cost of services . . . . . . . . . . . . . . . . . . . . . . . . . . $ (406,370) $ (525,463) $ (440,808) $ (470,523)
Income from operations . . . . . . . . . . . . . . . . . . . $ 313,806 $ 219,429 $ 351,584 $ 293,869
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 105,692 $ 102,849 $ 166,550 $ 134,633
Net income per common share—basic . . . . . $ 0.02 $ 0.02 $ 0.03 $ 0.03
Net income per common share—diluted . . . $ 0.02 $ 0.02 $ 0.03 $ 0.03
2014
Total revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 997,711 $1,035,345 $1,057,087 $1,090,952
Cost of services . . . . . . . . . . . . . . . . . . . . . . . . . . $ (390,534) $ (393,185) $ (403,519) $ (421,098)
Income from operations . . . . . . . . . . . . . . . . . . . $ 247,407 $ 284,578 $ 294,028 $ 293,657
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 93,988 $ 119,961 $ 136,170 $ 143,122
Net income per common share—basic . . . . . $ 0.02 $ 0.02 $ 0.02 $ 0.03
Net income per common share—diluted(1) . . $ 0.02 $ 0.02 $ 0.02 $ 0.03
(1) The sum of quarterly net income per share applicable to common stockholders (diluted) does not
necessarily agree to the net income per share for the year due to the timing of common stock
issuances.
F-36
SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Dollars and shares in thousands, except per share amounts)