Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v3.20.2
Acquisition (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable
The table below shows the value of the consideration paid in connection with the Pandora Acquisition:
Total
Pandora common stock outstanding 272   
Exchange ratio 1.44   
Common stock issued 392   
Price per share of Holdings common stock $ 5.83   
Value of common stock issued to Pandora stockholders $ 2,285   
Value of replacement equity awards attributable to pre-combination service $ 70   
Consideration of common stock and replacement equity awards for pre-combination service $ 2,355   
Sirius XM’s Pandora preferred stock investment (related party fair value instrument) canceled $ 524   
Total consideration for Pandora Acquisition $ 2,879   
Value attributed to par at $0.001 par value
 $ 1   
Balance to capital in excess of par value $ 2,354   
Acquisition, Pro Forma Information The following pro forma financial information presents our results as if the Pandora Acquisition had occurred on January 1, 2019:
For the Three Months Ended June 30, For the Six Months Ended June 30,
2020 2019 2020 2019
Total revenue $ 1,876    $ 1,979    $ 3,830    $ 3,839   
Net income $ 243    $ 265    $ 536    $ 446