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

9 Months Ended

Sep. 30, 2022

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 nine months ended September 30, 2022 and 2021.

Common stock equivalents of 93 and 100 for the three months ended September 30, 2022 and 2021, respectively, and 86 and 98 for the nine months ended September 30, 2022 and 2021, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net Income available to common stockholders for basic net income per common share	$	247	$	343	$	848	$	995
Effect of interest on assumed conversions of convertible notes, net of tax	1		2		3		6
Net Income available to common stockholders for dilutive net income per common share	$	248	$	345	$	851	$	1,001
Denominator:
Weighted average common shares outstanding for basic net income per common share	3,900		4,044		3,925		4,086
Weighted average impact of assumed convertible notes	31		30		31		30
Weighted average impact of dilutive equity instruments	37		45		45		54
Weighted average shares for diluted net income per common share	3,968		4,119		4,001		4,170
Net income per common share:
Basic	$	0.06	$	0.08	$	0.22	$	0.24
Diluted	$	0.06	$	0.08	$	0.21	$	0.24