Annual report pursuant to Section 13 and 15(d)

Related Party Transactions (Tables)

v3.6.0.2
Related Party Transactions (Tables) - Sirius XM Canada
 12 Months Ended
Dec. 31, 2016
Related Party Transaction [Line Items]  
Summary of related party balances
We had the following related party balances associated with Sirius XM Canada:
 
December 31, 2016
 
December 31, 2015
Related party current assets
$
6,170

 
$
5,941

Related party long-term assets
$
8,918

 
$
—

Related party current liabilities
$
2,840

 
$
2,840

Related party long-term liabilities
$
7,955

 
$
10,795

Schedule of related party revenues and other income
We recorded the following revenue and other income associated with Sirius XM Canada in our consolidated statements of comprehensive income:
 
For the Years Ended December 31,
 
2016
 
2015
 
2014
Revenue (a)
$
45,962


$
56,397

 
$
49,691

Other income





 
 

Share of net earnings (b)
$
12,529


$
—

 
$
7,889

Dividends (c)
$
3,575


$
12,645

 
$
7,628

(a)
Under our agreements with Sirius XM Canada, we currently receive a percentage-based royalty of 10% and 15% for certain types of subscription revenue earned by Sirius XM Canada for Sirius and XM platforms, respectively; and additional royalties for premium services and royalties for activation fees and reimbursements for other charges.  We record revenue from Sirius XM Canada as Other revenue in our consolidated statements of comprehensive income.  The current license and services agreement entered into with Sirius Canada will expire in 2017.  The current license agreement entered into with XM Canada will expire in 2020.
(b)
We recognize our proportionate share of earnings or losses of Sirius XM Canada as they occur as a component of Other income in our consolidated statements of comprehensive income on a one month lag. For the year ended December 31, 2014, this amount included amortization related to the equity method intangible assets of $363 and a gain of $1,251 related to the fair value received in excess of the carrying value associated with the redemption of our investment in Sirius XM Canada's 8% convertible unsecured subordinated debentures in February 2014.
(c)
Pursuant to the Arrangement Agreement, Sirius XM Canada did not pay any dividends during the second half of the year ended December 31, 2016. Sirius XM Canada paid gross dividends to us of $7,548, $15,645 and $43,492 during the years ended December 31, 2016, 2015 and 2014, respectively.  These dividends were first recorded as a reduction to our investment balance in Sirius XM Canada to the extent a balance existed and then as Other income for the remaining portion.