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, 2023

Earnings per ShareBasic 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, 2023 and 2022.

Common stock equivalents of 157 and 93 for the three months ended September 30, 2023 and 2022, respectively, and 155 and 86 for the nine months ended September 30, 2023 and 2022, 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,
	2023		2022		2023		2022
Numerator:
Net Income available to common stockholders for basic net income per common share	$	363	$	247	$	906	$	848
Effect of interest on assumed conversions of convertible notes, net of tax	—		1		1		3
Net Income available to common stockholders for dilutive net income per common share	$	363	$	248	$	907	$	851
Denominator:
Weighted average common shares outstanding for basic net income per common share	3,845		3,900		3,865		3,925
Weighted average impact of assumed convertible notes	3		31		3		31
Weighted average impact of dilutive equity instruments	17		37		16		45
Weighted average shares for diluted net income per common share	3,865		3,968		3,884		4,001
Net income per common share:
Basic	$	0.09	$	0.06	$	0.23	$	0.22
Diluted	$	0.09	$	0.06	$	0.23	$	0.21