Financial Analysis Assignment 1: Urgent

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SiriusXMBalanceSheet1.xls

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Sheet: asreported

Sirius XM Holdings Inc (NMS: SIRI)

Exchange rate used is that of the Year End reported date

As Reported Annual Balance Sheet

Report Date

12/31/2016

12/31/2015

12/31/2014

12/31/2013

12/31/2012

Currency

USD

Audit Status

Not Qualified

Consolidated

Yes

Scale

Thousands

Cash & cash equivalents

213939.0

111838.0

147724.0

134805.0

520945.0

Customer accounts receivable, gross

105737.0

98740.0

101634.0

113015.0

117853.0

Less: allowance for doubtful accounts

8658.0

6118.0

7815.0

9078.0

11711.0

Customer accounts receivable, net

97079.0

92622.0

93819.0

103937.0

106142.0

Receivables from distributors

98498.0

120012.0

105731.0

88975.0

104425.0

Other receivables, net

27452.0

22148.0

21029.0

Receivables, net

223029.0

234782.0

220579.0

Raw materials

10219.0

11085.0

12150.0

12358.0

17717.0

Finished goods

19581.0

21159.0

17971.0

15723.0

23779.0

Less: allowance for obsolescence

9437.0

9949.0

10724.0

14218.0

16159.0

Inventory, net

20363.0

22295.0

19397.0

13863.0

25337.0

Related party current assets

6170.0

5941.0

4344.0

9145.0

13167.0

Deferred tax asset

1038603.0

937598.0

923972.0

Prepaid expenses

116336.0

110530.0

122157.0

Prepaid expense & other current assets

179148.0

187033.0

Other current assets

2763.0

20160.0

12037.0

Total current assets

642649.0

561889.0

1549746.0

1419013.0

1828182.0

Satellite system

1586794.0

2388000.0

2397611.0

2407423.0

1943537.0

Terrestrial repeater network

127854.0

117127.0

108341.0

109367.0

112482.0

Leasehold improvements

53898.0

49407.0

48677.0

46173.0

44938.0

Broadcast studio equipment

84697.0

70888.0

61306.0

59020.0

55823.0

Capitalized software & hardware

558101.0

466464.0

340738.0

298267.0

232753.0

Satellite telemetry, tracking & control facilities

77290.0

75440.0

71268.0

63944.0

62734.0

Furniture, fixtures, equipment & other

90214.0

81871.0

78237.0

67275.0

76028.0

Land

38411.0

Building

61597.0

60487.0

59373.0

58662.0

57816.0

Construction in progress

144954.0

101324.0

155716.0

103148.0

417124.0

Total property & equipment

2823810.0

3449419.0

3359678.0

3251690.0

3041646.0

Less: Accumulated depreciation & amortization

1425117.0

2034018.0

1849566.0

1657116.0

1469724.0

Property & equipment, net

1398693.0

1415401.0

1510112.0

1594574.0

1571922.0

Long-term restricted investments

9888.0

5922.0

5718.0

3999.0

Intangible assets, net

2544801.0

2593346.0

2645046.0

2700062.0

2519610.0

Goodwill

2205107.0

2204553.0

1815365.0

Related party long-term assets

8918.0

3000.0

30164.0

44954.0

Deferred tax assets

1084330.0

1115731.0

437736.0

868057.0

1219256.0

Other long-term assets

119097.0

145300.0

6819.0

10035.0

12878.0

Deferred financing fees, net

12021.0

12604.0

38677.0

Total assets

8003595.0

8046662.0

8375509.0

8844780.0

9054843.0

Accounts payable & accrued expenses

713034.0

625313.0

587755.0

578333.0

587652.0

Accrued interest

114633.0

91655.0

80440.0

42085.0

33954.0

Current portion of deferred revenue

1832609.0

1771915.0

1632381.0

1586611.0

1474138.0

Current portion of deferred credit on executory contracts

1394.0

3781.0

207854.0

Current maturities of long-term debt

5485.0

4764.0

7482.0

496815.0

4234.0

Current maturities of long-term related party debt

10959.0

Related party current liabilities

2840.0

4340.0

20320.0

6756.0

Total current liabilities

2668601.0

2496487.0

2313792.0

2738904.0

2314588.0

Deferred revenue

176319.0

157609.0

151901.0

149026.0

159501.0

Deferred credit on executory contracts

1394.0

5175.0

Senior notes

5055721.0

4706966.0

4108591.0

2621523.0

1900000.0

Senior secured notes

396232.0

395675.0

Exchangeable senior subordinated notes

500481.0

550000.0

Less: Exchangeable senior subordinated notes discount

-4112.0

Less: senior notes discount

-22529.0

Senior secured revolving credit facility

390000.0

340000.0

380000.0

460000.0

Capital leases

13559.0

12892.0

12754.0

19591.0

11861.0

Total debt

5855512.0

5455533.0

4501345.0

3601595.0

2435220.0

Less: current maturities

5485.0

4764.0

7482.0

507774.0

4234.0

Total long-term debt

3093821.0

2430986.0

Less: related party

-208906.0

Less: deferred financing costs for notes

-7263.0

-7155.0

Long-term debt

5842764.0

5443614.0

4493863.0

3093821.0

2222080.0

Long-term related party debt

208906.0

Related party long-term liabilities

7955.0

10795.0

13635.0

16337.0

18966.0

Deferred tax liability

6418.0

6681.0

69.0

Other long-term liabilities

93553.0

97967.0

92481.0

99556.0

85993.0

Total liabilities

8795610.0

8213153.0

7065672.0

6099038.0

5015278.0

Convertible perpetual preferred stock, series B-1

6.0

Common stock

4745.0

5153.0

5653.0

6096.0

5263.0

Accumulated other comprehensive income (loss), net of tax

-139.0

-502.0

-402.0

-308.0

120.0

Additional paid-in capital

3117666.0

4783795.0

6771554.0

8674129.0

1.0345566E7

Treasury stock

22906.0

23727.0

26034.0

Retained earnings (accumulated deficit)

-3891381.0

-4931210.0

-5440934.0

-5934175.0

-6311390.0

Total stockholders' equity (deficit)

-792015.0

-166491.0

1309837.0

2745742.0

4039565.0