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This excerpt taken from the SIRI 10-Q filed May 11, 2009. Other Income (Expense) Interest and Investment Income. Interest and investment income includes realized gains and losses, dividends and interest income, including amortization of the premium and discount arising at purchase.
Interest Expense. Interest expense includes interest on outstanding debt, reduced by interest capitalized in connection with the construction of our satellites and launch vehicles.
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Loss from Redemption of Debt. Loss from redemption of debt includes losses incurred as a result of the conversion of our 2 1/2% Convertible Notes due 2009.
Loss on Investments. Loss on investments includes our share of SIRIUS Canada’s and XM Canada’s net losses, and losses recorded from our investment in XM Canada when the fair value was determined to be other than temporary.
These excerpts taken from the SIRI 10-K filed Mar 10, 2009. Other Income (Expense) Interest and Investment Income. Interest and investment income includes realized gains and losses, dividends and interest income, including amortization of the premium and discount arising at purchase.
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Table of ContentsInterest Expense. Interest expense includes interest on outstanding debt, reduced by interest capitalized in connection with the construction of our satellites and launch vehicles.
Loss from redemption of debt. Loss from redemption of debt includes losses incurred as a result of the conversion of our 2 1/2% Convertible Notes due 2009.
Loss on investments. Loss on investments includes our share of SIRIUS Canada’s and XM Canada’s net losses, and losses recorded from our investment in XM Canada when the fair value was determined to be other than temporary.
Other Income (Expense) Interest and Investment Income. Interest and investment income includes realized gains and losses,
47 Table of ContentsInterest Expense. Interest expense includes interest on outstanding debt,
losses incurred as a result of the conversion of our 2 1/2% Convertible Notes due 2009.
Loss on investments. Loss on investments includes our share of SIRIUS Canada’s and XM
Income Tax
This excerpt taken from the SIRI 10-Q filed Nov 12, 2008. Other Income (Expense) Interest and Investment Income. Interest and investment income includes realized gains and losses, dividends and interest income, including amortization of the premium and discount arising at purchase.
Interest Expense. Interest expense includes interest on outstanding debt, reduced by interest capitalized in connection with the construction of our satellites and launch vehicles.
49
Table of ContentsThis excerpt taken from the SIRI 10-Q filed Aug 9, 2006. Other Income (Expense) Interest and Investment Income. Interest and investment income includes realized gains and losses, dividends and interest income, including amortization of the premium and discount arising at purchase.
This excerpt taken from the SIRI 10-Q filed May 9, 2006. Other Income (Expense) Interest and Investment Income. Interest and investment income increased $5,450 to $9,937 for the three months ended March 31, 2006 from $4,487 for the three months ended March 31, 2005. The increase was attributable to higher interest rates and the purchase of auction rate securities and commercial paper using the proceeds from the issuance of our 9 5/8% Senior Notes due 2013 in August 2005. Interest Expense. Interest expense increased $9,799 to $17,124 for the three months ended March 31, 2006 from $7,325 for the three months ended March 31, 2005. The increase was primarily the result of interest expense for our 9 5/8% Senior Notes due 2013 issued in August 2005, offset by a decrease as a result of the redemption of our 15% Senior Secured Discount Notes due 2007 and our 14½% Senior Secured Notes due 2009 in September 2005. Income (Expense) from Affiliate. For the three months ended March 31, 2006, we recorded $4,445 for our share of SIRIUS Canada Inc.’s net loss. This excerpt taken from the SIRI 10-K filed Mar 13, 2006. Other Income (Expense)
Debt Restructuring. For the year ended December 31, 2003, we recorded a gain of $256,538 in connection with the restructuring of our long-term debt. This gain represents the difference between the carrying value of our 15% Senior Secured Discount Notes due 2007, 141⁄2% Senior Secured Notes due 2009, Lehman and Loral term loans, including accrued interest, and the fair market value of the common stock issued in exchange therefor, adjusted for unamortized debt issuance costs and direct costs associated with the restructuring. This gain is net of a loss on our 83⁄4% Convertible Subordinated Notes due 2009 exchanged in the restructuring. The loss represents the difference between the fair market value of the common stock issued in the exchange and the fair market value of the common stock which would have been issued under the original conversion ratio, including accrued interest, adjusted for unamortized debt issuance costs and direct costs associated with the restructuring. Interest and Investment Income. Interest and investment income increased $4,426 to $9,713 for the year ended December 31, 2004 from $5,287 for the year ended December 31, 2003. The increase was primarily attributable to the increase in our average cash and cash equivalents balance resulting from funds raised through offerings of our common stock and debt securities. 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. Other Income. Other income for the year ended December 31, 2004 was primarily related to a legal settlement in our favor and a New York State franchise tax refund. 39
This excerpt taken from the SIRI 10-Q filed Aug 3, 2005. Other Income (Expense)
Interest and Investment Income. Interest and investment income increased $5,662 to $9,277 for the six months ended June 30, 2005 from $3,615 for the six months ended June 30, 2004. The increase was primarily attributable to the increase in our average cash and cash equivalents balance resulting from funds raised through offerings of debt securities and an increase in the average interest rate. 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.
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