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This excerpt taken from the SIRI 10-Q filed Nov 1, 2007. Interest Expense. Interest expense includes interest on outstanding debt, reduced by interest capitalized in connection with the construction of our new
satellites and launch vehicle.
This excerpt taken from the SIRI 10-Q filed Aug 9, 2007. Interest Expense. Interest expense includes interest on outstanding debt, reduced by interest capitalized in connection with the construction of our new
satellite and launch vehicle.
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This excerpt taken from the SIRI 10-Q filed May 10, 2007. Interest Expense. Interest expense includes interest on outstanding debt, reduced by interest capitalized in connection with the construction of our new
satellite and launch vehicle.
For the three months ended March 31, 2007 and 2006, interest expense was $15,192 and $17,124, respectively, a decrease of $1,932. The decrease was primarily the result of capitalized interest in 2007 associated with satellite construction and the related launch vehicle.
This excerpt taken from the SIRI 10-K filed Mar 13, 2006. Interest Expense. Interest expense decreased $9,124 to $41,386 for the year ended December 31, 2004 from $50,510 for the year ended December 31, 2003. The decrease was a result of the reduction in our outstanding debt and the exchange of debt for our common stock in connection with our 2003 restructuring, offset by additional interest expense in 2004 associated with our 21⁄2% Convertible Notes due 2009 and 31⁄4% Convertible Notes due 2011. Interest expense included debt conversion
costs of $19,592 and $19,439 for the years ended December 31, 2004 and 2003, respectively. Debt conversion costs for 2004 were a result of the issuance of 56,409,853 shares of our common stock in exchange for $69,000 in aggregate principal amount of our 31⁄2% Convertible Notes due 2008, including accrued interest. Debt conversion costs for 2003 were a result of the issuance of 54,805,993 shares of our common stock in exchange for $65,000 in aggregate principal amount of our 31⁄2% Convertible Notes due 2008, including accrued interest.
This excerpt taken from the SIRI 10-Q filed Aug 3, 2005. Interest Expense. Interest expense decreased $14,442 to $14,526 for the six months ended June 30, 2005 from $28,968 for the six months ended June 30, 2004. The decrease was primarily due to debt conversion costs as a result of the issuance of 56,409,853 shares of our common stock in exchange for $69,000 in aggregate principal amount of our 31⁄2% Convertible Notes due 2008, including accrued interest in 2004. This decrease was offset by an increase in interest expense resulting from the issuance of our 31⁄4% Convertible Notes due 2011 in October 2004 and a full six month impact of our 21⁄2% Convertible Notes due 2009 issued in the first quarter of 2004.
This excerpt taken from the SIRI 10-Q filed May 9, 2005. Interest Expense. Interest expense includes interest on outstanding debt and debt conversion costs. Debt conversion costs represent the loss associated with debt exchanged and are calculated as the difference between the fair market value of additional shares issued in excess of the fair market value of the amount of shares that would have been issued under original conversion ratios.
Interest expense decreased $16,374 to $7,325 for the three months ended March 31, 2005 from $23,699 for the three months ended March 31, 2004. The decrease was primarily due to debt conversion costs as a result of the issuance of 56,409,853 shares of our common stock in exchange for $69,000 in aggregate principal amount of our 3½% Convertible Notes due 2008, including accrued interest during the three months ended March 31, 2004. This decrease was offset by an increase in interest expense resulting from the issuance of our 3¼% Convertible Notes due 2011 in October 2004 and our 2½% Convertible Notes due 2009 in the first quarter of 2004. This excerpt taken from the SIRI 10-K filed Mar 16, 2005. Interest Expense. Interest expense decreased $55,653 to $50,510 for the year ended December 31, 2003 from $106,163 for the year ended December 31, 2002. We capitalized $5,426 of interest costs during the year ended December 31, 2002. The decrease was primarily attributable to the exchange of approximately $636,000 in aggregate principal amount at maturity of our outstanding long-term debt for common stock in March 2003. Interest expense also included costs incurred as a result of the exchange of debt for our common stock. Debt conversion costs were $19,439 and $9,650 for the years ended December 31, 2003 and 2002, respectively. Debt conversion costs for 2003 were a result of the issuance of 54,805,993 shares of our common stock for $65,000 in aggregate principal amount
of our 31⁄2% Convertible Notes due 2008, including accrued interest. Conversion costs for 2002 were a result of the issuance of 2,913,483 shares of our common stock in exchange for $29,475 in aggregate principal amount of our 83⁄4% Convertible Subordinated Notes due 2009, including accrued interest.
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