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

Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 493,241us-gaap_NetIncomeLoss	$ 377,215us-gaap_NetIncomeLoss	$ 3,472,702us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	266,423	253,314	266,295
Non-cash interest expense, net of amortization of premium	21,039us-gaap_PaidInKindInterest	21,698us-gaap_PaidInKindInterest	35,924us-gaap_PaidInKindInterest
Provision for doubtful accounts	44,961us-gaap_ProvisionForDoubtfulAccounts	39,016us-gaap_ProvisionForDoubtfulAccounts	34,548us-gaap_ProvisionForDoubtfulAccounts
Amortization of deferred income related to equity method investment	(2,776)us-gaap_RecognitionOfDeferredRevenue	(2,776)us-gaap_RecognitionOfDeferredRevenue	(2,776)us-gaap_RecognitionOfDeferredRevenue
Loss on extinguishment of debt and credit facilities, net	0	190,577	132,726
(Gain) loss on unconsolidated entity investments, net	(5,547)	(5,865)	420
Dividend received from unconsolidated entity investment	17,019	22,065	1,185
Loss on disposal of assets	220us-gaap_GainLossOnDispositionOfAssets1	351us-gaap_GainLossOnDispositionOfAssets1	657us-gaap_GainLossOnDispositionOfAssets1
Loss on change in value of derivatives	34,485	20,393	0
Share-based payment expense	78,212us-gaap_ShareBasedCompensation	68,876us-gaap_ShareBasedCompensation	63,822us-gaap_ShareBasedCompensation
Deferred income taxes	327,461us-gaap_DeferredIncomeTaxExpenseBenefit	259,787us-gaap_DeferredIncomeTaxExpenseBenefit	(3,001,818)us-gaap_DeferredIncomeTaxExpenseBenefit
Other non-cash purchase price adjustments	(3,781)	(207,854)	(289,050)
Changes in operating assets and liabilities:
Receivables	(72,628)	(15,245)	(58,593)
Inventory	(5,534)us-gaap_IncreaseDecreaseInInventories	11,474us-gaap_IncreaseDecreaseInInventories	11,374us-gaap_IncreaseDecreaseInInventories
Related party assets	(4,097)	2,031	9,523
Prepaid expenses and other current assets	(1,195)	16,788	647
Other long-term assets	3,173	2,973	22,779
Accounts payable and accrued expenses	(17,191)	(44,009)	46,043
Accrued interest	38,355	8,131	(36,451)
Deferred revenue	48,645	73,593	101,311
Related party liabilities	(206)	(1,991)	(7,545)
Other long-term liabilities	(7,035)	12,290	3,042
Net cash provided by operating activities	1,253,244	1,102,832	806,765
Cash flows from investing activities:
Additions to property and equipment	(121,646)	(173,617)	(97,293)
Purchases of restricted and other investments	0	(1,719)	(26)
Acquisition of business, net of cash acquired	1,144	(525,352)	0
Return of capital from investment in unconsolidated entity	24,178	0	0
Net cash used in investing activities	(96,324)	(700,688)	(97,319)
Cash flows from financing activities:
Proceeds from exercise of stock options	331	21,968	123,369
Taxes paid in lieu of shares issued for stock-based compensation	(37,318)	(46,342)	0
Proceeds from long-term borrowings and revolving credit facility, net of costs	2,406,205	3,156,063	383,641
Payment of premiums on redemption of debt	0	(175,453)	(100,615)
Repayment of long-term borrowings and revolving credit facility	(1,016,420)us-gaap_RepaymentsOfLongTermDebt	(1,782,160)us-gaap_RepaymentsOfLongTermDebt	(915,824)us-gaap_RepaymentsOfLongTermDebt
Repayment of related party long-term borrowings	0us-gaap_RepaymentsOfRelatedPartyDebt	(200,000)us-gaap_RepaymentsOfRelatedPartyDebt	(126,000)us-gaap_RepaymentsOfRelatedPartyDebt
Common stock repurchased and retired	(2,496,799)	(1,762,360)	0
Dividends paid	0us-gaap_PaymentsOfDividends	0us-gaap_PaymentsOfDividends	(327,062)us-gaap_PaymentsOfDividends
Net cash used in financing activities	(1,144,001)	(788,284)	(962,491)
Net increase (decrease) in cash and cash equivalents	12,919	(386,140)	(253,045)
Cash and cash equivalents at beginning of period	134,805	520,945	773,990
Cash and cash equivalents at end of period	147,724	134,805	520,945
Cash paid during the period for:
Interest, net of amounts capitalized	199,424us-gaap_InterestPaidNet	169,781us-gaap_InterestPaidNet	262,039us-gaap_InterestPaidNet
Income taxes paid	8,713us-gaap_IncomeTaxesPaid	2,783us-gaap_IncomeTaxesPaid	4,935us-gaap_IncomeTaxesPaid
Acquisition related costs	0	2,902	0
Non-cash investing and financing activities:
Capital lease obligations incurred to acquire assets	719us-gaap_CapitalLeaseObligationsIncurred	11,966us-gaap_CapitalLeaseObligationsIncurred	12,781us-gaap_CapitalLeaseObligationsIncurred
Conversion of Series B preferred stock to common stock	0	1,293	1,294
Treasury stock not yet settled	26,034	0	0
Conversion of 7% Exchangeable Notes to common stock, net of debt issuance and deferred financing costs	502,097	45,097	0
Performance incentive payments	0	16,900	0
Goodwill reduced for the exercise and vesting of certain stock awards	0	274	19,491
Purchase price accounting adjustments to goodwill	$ 1,698	$ 0	$ 0