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This excerpt taken from the SIRI 10-Q filed Nov 12, 2008. Net Cash Used in Investing Activities Net cash provided in investing activities was $766,516 for the nine months ended September 30, 2008 compared with net cash used in investing activities of $31,153 for the nine months ended September 30, 2007. The $797,669 increase was primarily due to the inclusion of $819,521 million in net cash acquired from XM in the Merger. Additionally, capital expenditures increased by $35,904 as a result of costs associated with our satellite construction and launch vehicle and the increase in Merger related costs of $13,047 during the nine months ended September 30, 2008. We will incur significant capital expenditures to construct and launch our new satellites and to improve our terrestrial repeater network and broadcast and administrative infrastructure. These capital expenditures will support our growth and the resiliency of our operations, and will also support the delivery of future new revenue streams.
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Table of ContentsThis excerpt taken from the SIRI 10-Q filed Aug 9, 2007. Net Cash Used in Investing Activities
Net cash used in investing activities was $25,956 for the six months ended June 30, 2007 compared with net cash provided by investing activities of $36,067 for the six months ended June 30, 2006. The $62,023 decrease was primarily a result of higher net sales activity of available-for-sale securities in the second quarter of 2006, offset by an increase in capital expenditures of $8,809 primarily as a result of costs associated with our satellite construction and launch vehicle. We will incur significant capital expenditures to construct and launch our new satellites and to improve our terrestrial repeater network and broadcast and administrative infrastructure. These capital expenditures will support our growth and the resiliency of our operations, and will also support the delivery of future new revenue streams.
This excerpt taken from the SIRI 10-Q filed May 10, 2007. Net Cash Used in Investing Activities
Net cash used in investing activities was $1,822 for the three months ended March 31, 2007 compared with net cash provided by investing activities of $24,537 for the three months ended March 31, 2006. The $26,359 increase was primarily a result of higher net sales activity of available-for-sale securities in the first quarter of 2006, offset by an increase in capital expenditures of $6,962 primarily as a result of costs associated with our satellite construction and launch vehicle. We will incur significant capital expenditures to construct and launch our new satellite and to improve our terrestrial repeater network and broadcast and administrative infrastructure. These capital expenditures will support our growth and the resiliency of our operations, and will also support the delivery of future new revenue streams.
This excerpt taken from the SIRI 10-K filed Mar 13, 2006. Net Cash Used in Investing Activities. Net cash used in investing activities increased $79,223 to $172,075 for the year ended December 31, 2005 from $92,852 for the year ended December 31, 2004. For the year ended December 31, 2005, we purchased $148,900 of auction rate securities with the proceeds from the offering of our 95⁄8% Senior Notes due 2013, of which we sold $31,850. We also deposited $21,291 in escrow pursuant to certain partner agreements. Additional cash inflows of $5,085 were a result of the maturity of available-for-sale securities. These decreases in cash and cash equivalents were offset by the release of $10,997 of funds
as a result of the termination of the Ford escrow in June 2005.
For the year ended December 31, 2004, we deposited $89,706 in escrow pursuant to certain partner agreements. These deposits were offset by cash inflows of $25,000 as a result of the maturity of available-for-sale securities. Capital expenditures increased to $49,888 for the year ended December 31, 2005 from $28,589 for the year ended December 31, 2004. The increase in capital expenditures was primarily a result of payments made in the fourth quarter of 2005 for the construction of a satellite launch vehicle. In 2006, we will incur significant capital expenditures to secure a satellite launch vehicle and improve our terrestrial repeater network and broadcast and administrative infrastructure. These capital expenditures will support the resiliency of our operations and the growth we are experiencing as well as support the delivery of new revenue streams in the future through our video, telematics and navigation offerings.
This excerpt taken from the SIRI 10-Q filed Aug 3, 2005. Net Cash Used in Investing Activities. Net cash used in investing activities decreased $69,049 to $1,263 for the six months ended June 30, 2005 from $70,312 for the six months ended June 30, 2004. For the six months ended June 30, 2005, funds we placed in escrow to support our obligation to reimburse Ford for certain costs it will incur in connection with the introduction of SIRIUS radios as a factory option were released from escrow. Additional cash inflows of $4,835 were a result of the maturity of available-for-sale securities. During the six months ended June 30, 2004, we deposited $85,000 in escrow to fund the rights fees for the 2006-2007, 2007-2008 and 2008-2009 NFL seasons. These deposits were offset by cash inflows of $25,000 as a result of the maturity of available-for-sale
securities. Capital expenditures remained consistent at $10,863 and $10,340 for the six months ended June 30, 2005 and 2004, respectively.
This excerpt taken from the SIRI 10-Q filed May 9, 2005. Net Cash Used in Investing Activities. Net cash used in investing activities decreased $54,590 to $8,332 for the three months ended March 31, 2005 as compared with $62,922 for the three months ended March 31, 2004. For the three months ended March 31, 2005, we deposited $6,291 in escrow to reimburse Ford for certain costs it will incur in connection with the introduction of SIRIUS radios as a factory option, including costs associated with tooling, facilities, non-recurring engineering, marketing and equipment subsidies. These deposits were offset by cash inflows of $4,835 as a result of the maturity of available-for-sale securities. During the three months ended March 31, 2004, we deposited $85,000 in escrow to fund the rights fees for the 2006-2007, 2007-2008 and 2008-2009 NFL seasons. These deposits were offset by cash inflows of $25,000 as a result of the
maturity of available-for-sale securities. Capital expenditures increased to $6,888 for the three months ended March 31, 2005 from $2,950 for the three months ended March 31, 2004, primarily as a result of the implementation of our new subscriber management system.
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