Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.20.2
Acquisitions (Tables)
 9 Months Ended
Sep. 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 
Schedule of Business 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 September 30, For the Nine Months Ended September 30,
2020 2019 2020 2019
Total revenue $ 2,027  $ 2,013  $ 5,857  $ 5,852 
Net income $ 272  $ 245  $ 808  $ 690