Sirius XM Holdings Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

Earnings per Share

6 Months Ended

Jun. 30, 2020

Basic net income per common share is calculated by dividing the income available to common stockholders by the weighted average common shares outstanding during each reporting period. Diluted net income per common share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents (stock options, restricted stock units and convertible debt) were exercised or converted into common stock, calculated using the treasury stock method. We had no participating securities during the three and six months ended June 30, 2020 and 2019.

Common stock equivalents of 77 and 88 for the three months ended June 30, 2020 and 2019, respectively, and 60 and 71 for the six months ended June 30, 2020 and 2019, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive. We issued 392 shares of our common stock in connection with the Pandora Acquisition.


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net Income available to common stockholders for basic net income per common share	$	243	$	263	$	536	$	425
Effect of interest on assumed conversions of convertible notes, net of tax	2		2		4		3
Net Income available to common stockholders for dilutive net income per common share	$	245	$	265	$	540	$	428
Denominator:
Weighted average common shares outstanding for basic net income per common share	4,369		4,568		4,387		4,569
Weighted average impact of assumed convertible notes	29		29		29		27
Weighted average impact of dilutive equity instruments	59		78		71		81
Weighted average shares for diluted net income per common share	4,457		4,675		4,487		4,677
Net income per common share:
Basic	$	0.06	$	0.06	$	0.12	$	0.09
Diluted	$	0.05	$	0.06	$	0.12	$	0.09