Sirius XM Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies - 10-K (Tables)

Summary of Significant Accounting Policies - 10-K (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Significant Accounting Policies

In addition to the significant accounting policies discussed in this Note 2, the following table includes our significant accounting policies that are described in other notes to our consolidated financial statements, including the number and page of the note:



Significant Accounting Policy	Note #	Page #
Acquisition	3	F-17
Fair Value Measurements	4	F-19
Goodwill	8	F-21
Intangible Assets	9	F-22
Property and Equipment	10	F-23
Equity Method Investments	12	F-27
Share-Based Compensation	15	F-31
Legal Reserves	16	F-35
Income Taxes	17	F-38

Schedule of new ASU adoption impact on financial statements

The effect of the changes made to our consolidated balance sheet as of January 1, 2019 for the adoption of ASU 2016-02 is included in the table below.



	Balance at December 31, 2018		Adjustments Due to ASU 2016-02			Balance at January 1, 2019
Balance Sheet
Assets:
Operating lease right-of-use assets	$	—	$	347		$	347

Liabilities:
Accounts payable and accrued expenses	$	736	$	(1	)	$	735
Operating lease current liabilities	—		30			30
Operating lease liabilities	—		339			339
Other long-term liabilities	102		(21		)	81

The following tables illustrate the impacts of adopting ASU 2014-09 on our consolidated statement of comprehensive income.



	For the Year Ended December 31, 2018
	Current Report			Impact of Adopting ASU 2014-09		Balances Without Adoption of ASU 2014-09
Income Statement
Revenues
Subscriber revenue ⁽¹⁾	$	5,264		$	95	$	5,359

Expenses
Revenue share and royalties	1,394			88		1,482
Subscriber acquisition costs	470			4		474
Income tax expense	(245		)	—		(245		)

Net Income	$	1,176		$	3	$	1,179

(1)

Music Royalty Fee revenue was reported as Other revenue in our December 31, 2018 and 2017 Annual Reports on Form 10-K. This revenue was reclassified to Subscriber revenue to conform with the current period presentation. Refer to Note 1 for more information.