Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Total revenue $ 8,699 $ 8,953 $ 9,003
Cost of services:      
Subscriber acquisition costs 369 359 352
Sales and marketing 894 931 1,075
Product and technology 296 322 285
General and administrative 497 608 563
Depreciation and amortization 578 624 611
Impairment, restructuring and other costs 3,453 92 68
Total operating expenses 10,216 7,145 7,084
(Loss) income from operations (1,517) 1,808 1,919
Other income (expense), net      
Interest expense (496) (534) (503)
Gain on extinguishment of debt 12 0 0
Other income (expense), net 136 (64) 70
Total other expense (348) (598) (433)
(Loss) income before income taxes (1,865) 1,210 1,486
Income tax expense (210) (222) (368)
Net (loss) income (2,075) 988 1,118
Less net (loss) income attributable to noncontrolling interests (410) 202 210
Net (loss) income attributable to Sirius XM Holdings Inc. $ (1,665) $ 786 $ 908
Net (loss) income per common share:      
Basic (in USD per share) $ (6.14) $ 2.91 $ 3.22
Diluted (in USD per share) $ (6.14) $ 2.77 $ 2.96
Weighted average common shares outstanding:      
Basic (in shares) 338 339 347
Diluted (in shares) 338 362 368
Subscriber revenue      
Revenue:      
Total revenue $ 6,616 $ 6,866 $ 6,892
Advertising revenue      
Revenue:      
Total revenue 1,773 1,758 1,772
Equipment revenue      
Revenue:      
Total revenue 182 193 189
Other revenue      
Revenue:      
Total revenue 128 136 150
Revenue share and royalties      
Cost of services:      
Cost of services 2,835 2,895 2,802
Programming and content      
Cost of services:      
Cost of services 611 618 604
Customer service and billing      
Cost of services:      
Cost of services 448 476 497
Transmission      
Cost of services:      
Cost of services 225 206 214
Cost of equipment      
Cost of services:      
Cost of services $ 10 $ 14 $ 13