Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Tables)

v3.5.0.2
Related Party Transactions (Tables) - Sirius XM Canada
 9 Months Ended
Sep. 30, 2016
Related Party Transaction [Line Items]  
Summary of related party balances
We had the following related party balances associated with Sirius XM Canada:
 
September 30, 2016
 
December 31, 2015
Related party current assets
$
5,249

 
$
5,941

Related party long-term assets
$
6,163

 
$
—

Related party current liabilities
$
3,015

 
$
2,840

Related party long-term liabilities
$
8,665

 
$
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 unaudited consolidated statements of comprehensive income:
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Revenue (a)
$
11,551

 
$
17,941

 
$
32,129


$
44,437

Other income
 

 
 

 





Share of net earnings (b)
$
1,274

 
$
—

 
$
9,725


$
—

Dividends (c)
$
—

 
$
3,891

 
$
3,575


$
8,880

(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 the 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 unaudited 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 unaudited consolidated statements of comprehensive income on a one month lag.
(c)
Pursuant to the Arrangement Agreement, Sirius XM Canada did not pay any dividends during the three months ended September 30, 2016. Sirius XM Canada paid gross dividends to us of $3,891 during the three months ended September 30, 2015 and $7,548 and $11,881 during the nine months ended September 30, 2016 and 2015, 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.