| Summary of related party balances |
We had the following related party balances associated with Sirius XM Canada:
|
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
December 31, 2017 |
Related party current assets |
$ |
10,585 |
|
|
$ |
10,284 |
|
Related party long-term assets |
$ |
437,227 |
|
|
$ |
481,608 |
|
Related party current liabilities |
$ |
4,335 |
|
|
$ |
2,839 |
|
Related party long-term liabilities |
$ |
4,270 |
|
|
$ |
7,364 |
|
|
| Schedule of related party revenues and other income |
We recorded the following revenue and other income associated with Sirius XM Canada in our consolidated statements of comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
2018 |
|
2017 |
|
2016 |
Revenue (a)(b)
|
$ |
96,960 |
|
|
$ |
87,111 |
|
|
$ |
45,962 |
|
Other income (expense) |
|
|
|
|
|
|
|
|
Share of net (loss) earnings (b)
|
$ |
(804 |
) |
|
$ |
4,561 |
|
|
$ |
12,529 |
|
Dividends (c)
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,575 |
|
Interest income (d)
|
$ |
10,302 |
|
|
$ |
6,243 |
|
|
$ |
— |
|
|
|
(a) |
Prior to the Transaction, under our former agreements with Sirius XM Canada, we received a percentage-based fee of 10% and 15% for certain types of subscription revenue earned by Sirius XM Canada for the use of the Sirius and XM platforms, respectively, and additional fees for premium services and fees for activation fees and reimbursements for other charges. We record revenue from Sirius XM Canada as Music royalty fee and other revenue in our consolidated statements of comprehensive income.
|
|
|
(b) |
Prior to the Transaction, we recognized our proportionate share of revenue and earnings or losses attributable to Sirius XM Canada on a one month lag. As a result of the Transaction, there is no longer a one-month lag and Sirius XM Canada changed its fiscal year-end to December 31 to align with our fiscal year. For the years ended December 31, 2018 and 2017, Share of net (loss) earnings included $2,434 and $1,501, respectively, of amortization expense related to equity method intangible assets.
|
|
|
(c) |
Sirius XM Canada paid gross dividends to us of $2,240, $3,796, and $7,548 during the years ended December 31, 2018, 2017 and 2016, respectively. Dividends are first recorded as a reduction to our investment balance in Sirius XM Canada to the extent a balance existed and then as Other income (expense) for the remaining portion.
|
|
|
(d) |
This interest income relates to the loan to Sirius XM Canada and is recorded as Other income (expense) in our consolidated statements of comprehensive income. |
|