Financial Analysis Assignment 1: Urgent

Sheet: asreported

Sirius XM Holdings Inc (NMS: SIRI)

Exchange rate used is that of the Year End reported date

As Reported Annual Income Statement

Report Date

12/31/2016

12/31/2015

12/31/2014

12/31/2013

12/31/2012

Currency

USD

USD

USD

USD

USD

Audit Status

Not Qualified

Not Qualified

Not Qualified

Not Qualified

Not Qualified

Consolidated

Yes

Yes

Yes

Yes

Yes

Scale

Thousands

Thousands

Thousands

Thousands

Thousands

Subscriber revenue

4196852.0

3824793.0

3554302.0

3284660.0

2962665.0

Advertising revenue

138231.0

122292.0

100982.0

89288.0

82320.0

Equipment revenue

118947.0

110923.0

104661.0

80573.0

73456.0

Other revenue

563190.0

512050.0

421150.0

344574.0

283599.0

Total revenue

5017220.0

4570058.0

4181095.0

3799095.0

3402040.0

Cost of services - revenue share & royalties

1108515.0

1034832.0

810028.0

677642.0

551012.0

Cost of services - programming & content

353779.0

293091.0

297313.0

290323.0

278997.0

Cost of services - customer service & billing

387131.0

377908.0

370585.0

320755.0

294980.0

Cost of services - satellite & transmission

103020.0

94609.0

86013.0

79292.0

72615.0

Cost of equipment

40882.0

42724.0

44397.0

26478.0

31766.0

Subscriber acquisition costs

512809.0

532599.0

493464.0

495610.0

474697.0

Sales & marketing

386724.0

354189.0

336480.0

291024.0

248905.0

Engineering, design & development

82146.0

64403.0

62784.0

57969.0

48843.0

General & administrative

341106.0

324801.0

293938.0

262135.0

261905.0

Depreciation & amortization

268979.0

272214.0

266423.0

253314.0

266295.0

Total operating expenses

3585091.0

3391370.0

3061425.0

2754542.0

2530015.0

Income (loss) from operations

1432129.0

1178688.0

1119670.0

1044553.0

872025.0

Interest expense, net of amounts capitalized

331225.0

299103.0

269010.0

204671.0

265321.0

Gain (loss) on extinguishment of debt & credit facilities, net

-24229.0

-

-

-190577.0

-132726.0

Loss on change in value of derivatives

-

-

-34485.0

-20393.0

-

Interest & investment income

-

-

15498.0

6976.0

716.0

Other income (loss)

14985.0

12379.0

-887.0

1204.0

-226.0

Total other income (expense)

-340469.0

-286724.0

-288884.0

-407461.0

-397557.0

Income (loss) before income taxes

1091660.0

891964.0

830786.0

637092.0

474468.0

Current state income taxes

21782.0

15916.0

7743.0

5359.0

1319.0

Current foreign income taxes

383.0

825.0

2341.0

-5269.0

2265.0

Current income taxes

22165.0

16741.0

10084.0

90.0

3584.0

Deferred federal taxes

304179.0

318933.0

302350.0

211044.0

-2729823.0

Deferred state taxes

19383.0

46566.0

25111.0

48743.0

-271995.0

Total deferred taxes

323562.0

365499.0

327461.0

259787.0

-3001818.0

Income tax expense (benefit)

345727.0

382240.0

337545.0

259877.0

-2998234.0

Net income (loss)

745933.0

509724.0

493241.0

377215.0

3472702.0

Weighted average shares outstanding - basic

4917050.0

5375707.0

5788944.0

6227646.0

4209073.0

Weighted average shares outstanding - diluted

4964728.0

5435166.0

5862020.0

6384791.0

6873786.0

Year end shares outstanding

4740947.0

5147647.0

5646119.122

6096220.526

5262440.085

Net income (loss) per share - basic

0.15

0.09

0.09

0.06

0.55

Net income (loss) per share - diluted

0.15

0.09

0.08

0.06

0.51

Dividends per common share

0.01

-

-

-

0.05

Number of full time employees

2402.0

2323.0

2327.0

2195.0

1596.0

Number of common stockholders

8816.0

9560.0

9777.0

10271.0

11290.0

Foreign currency translation adjustments

-363.0

-100.0

-

-

-