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

Annual report pursuant to Section 13 and 15(d)

Net (Loss) Income per Share

Net (Loss) Income per Share

12 Months Ended

Dec. 31, 2024

Basic net (loss) income per common share is calculated by dividing the (loss) income available to common stockholders by the weighted average common shares outstanding during each reporting period. Diluted net (loss) 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 years ended December 31, 2024, 2023 and 2022.

In calculating basic net (loss) income per common share, we used 339 and 347 common shares for the years ended December 31, 2023 and 2022, respectively, which was the weighted average number of shares of Liberty Media's Series A, Series B, and Series C Liberty SiriusXM common stock and Old Sirius's common stock as converted by the Redemption and Merger exchange ratios, respectively, as no SplitCo shares were outstanding during that period. In calculating diluted net (loss) income per common share, we used 362 and 368 of diluted common shares for the years ended December 31, 2023 and 2022, respectively, which was the weighted average number of shares of Liberty Media's Series A, Series B, and Series C Liberty SiriusXM common stock and Old Sirius's common stock adjusted for the impact of dilutive instruments as converted by the Redemption and Merger exchange ratios, respectively, as no SplitCo shares were outstanding during that period.

Common stock equivalents of 47, 37 and 30 for the years ended December 31, 2024, 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 Years Ended December 31,
		2024		2023		2022
Numerator:
Net (loss) income available to common stockholders for basic net (loss) income per common share		$	(1,665)	$	786	$	908
Net (loss) income attributable to noncontrolling interest		(410)		202		210
Total net (loss) income		(2,075)		988		1,118
Effect of assumed conversions of convertible notes, net of tax		—		13		(27)
Net (loss) income available to common stockholders for dilutive net (loss) income per common share		$	(2,075)	$	1,001	$	1,091
Denominator:
Weighted average common shares outstanding for basic net (loss) income per common share		338		339		347
Weighted average impact of assumed convertible and exchangeable notes		—		21		17
Weighted average impact of dilutive equity instruments		—		2		4
Weighted average shares for diluted net (loss) income per common share		338		362		368
Net (loss) income per common share:
Basic		$	(6.14)	$	2.91	$	3.22
Diluted		$	(6.14)	$	2.77	$	2.96