Related Party Transactions (Tables)
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9 Months Ended |
Sep. 30, 2011 |
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| Related Party Transactions [Abstract] |
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| Summary Of Related Party Transaction Balances |
We had the following related party transaction balances at September 30, 2011 and December 31,
2010:
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Related party |
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Related party |
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Related party |
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Related party |
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Related party |
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current assets |
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long-term assets |
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current liabilities |
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long-term liabilities |
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long-term debt |
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September 30, |
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December 31, |
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September 30, |
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December 31, |
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September 30, |
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December 31, |
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September 30, |
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December 31, |
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September 30, |
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December 31, |
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2011* |
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2010 |
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2011* |
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2010 |
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2011* |
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2010 |
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2011* |
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2010 |
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2011* |
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2010 |
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Liberty Media
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$ |
— |
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$ |
— |
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$ |
1,300 |
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$ |
1,571 |
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$ |
10,461 |
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$ |
9,765 |
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$ |
— |
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$ |
— |
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$ |
328,029 |
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$ |
325,907 |
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Sirius XM Canada
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5,228 |
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— |
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68,643 |
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— |
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6,080 |
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— |
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22,435 |
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— |
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— |
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— |
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SIRIUS Canada
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— |
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5,613 |
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— |
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— |
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— |
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1,805 |
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— |
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— |
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— |
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— |
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XM Canada
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— |
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1,106 |
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— |
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31,904 |
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— |
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4,275 |
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— |
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24,517 |
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— |
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— |
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Total
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$ |
5,228 |
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$ |
6,719 |
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$ |
69,943 |
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$ |
33,475 |
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$ |
16,541 |
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$ |
15,845 |
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$ |
22,435 |
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$ |
24,517 |
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$ |
328,029 |
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$ |
325,907 |
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| * |
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SIRIUS Canada and XM Canada combined in June 2011. The combined entity now operates as Sirius
XM Canada. |
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| Summary Of Related Party Long Term Debt |
Liberty Media has advised us that as of September 30, 2011 and December 31, 2010 it owned the
following amounts of our debt securities:
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September 30, |
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December 31, |
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2011 |
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2010 |
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8.75% Senior Notes due 2015
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$ |
150,000 |
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$ |
150,000 |
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9.75% Senior Secured Notes due 2015
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50,000 |
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50,000 |
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13% Senior Notes due 2013
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76,000 |
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76,000 |
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7% Exchangeable Senior Subordinated Notes due 2014
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11,000 |
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11,000 |
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7.625% Senior Notes due 2018
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50,000 |
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50,000 |
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Total principal debt
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337,000 |
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337,000 |
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Less: discounts
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8,971 |
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11,093 |
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Total carrying value debt
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$ |
328,029 |
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$ |
325,907 |
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| Revenue From SIRIUS Canada |
We recorded the following revenue from SIRIUS Canada. Royalty income is included in other
revenue and dividend income is included in Interest and investment income (loss) in our unaudited
consolidated statements of operations:
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For the Three Months |
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For the Nine Months |
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Ended September 30, |
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Ended September 30, |
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2011* |
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2010 |
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2011* |
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2010 |
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Royalty income
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$ |
— |
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$ |
3,163 |
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$ |
9,945 |
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$ |
6,603 |
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Dividend income
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— |
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232 |
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460 |
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689 |
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Total revenue from SIRIUS Canada
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$ |
— |
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$ |
3,395 |
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$ |
10,405 |
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$ |
7,292 |
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| * |
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SIRIUS Canada combined with XM Canada in June 2011. |
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| Revenue From XM Canada |
We recorded the following revenue from Sirius XM Canada as Other revenue in our unaudited
consolidated statements of operations:
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For the Three and Nine Months |
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Ended September 30, |
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2011* |
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Royalty income
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$ |
6,468 |
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Amortization of Sirius XM Canada deferred income
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694 |
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Licensing fee revenue
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1,500 |
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Advertising reimbursements
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— |
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Total revenue from Sirius XM Canada
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$ |
8,662 |
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| * |
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Sirius XM Canada commenced operations on June 2011. |
We recorded the following revenue from XM Canada as Other revenue in our unaudited
consolidated statements of operations:
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For the Three Months |
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For the Nine Months |
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Ended September 30, |
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Ended September 30, |
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2011* |
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2010 |
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2011* |
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2010 |
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Amortization of XM Canada deferred income
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$ |
— |
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$ |
693 |
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$ |
1,388 |
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$ |
2,081 |
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Subscriber and activation fee royalties
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— |
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2,594 |
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5,483 |
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7,599 |
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Licensing fee revenue
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— |
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750 |
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3,000 |
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3,000 |
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Advertising reimbursements
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— |
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— |
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833 |
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667 |
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Total revenue from XM Canada
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$ |
— |
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$ |
4,037 |
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$ |
10,704 |
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$ |
13,347 |
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| * |
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XM Canada combined with SIRIUS Canada in June 2011. |
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| Revenue From General Motors Company and American Honda |
We recorded the following total related party revenue from GM and American Honda, primarily
consisting of subscriber revenue, in connection with the agreements above:
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For the Nine Months |
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Ended September 30, |
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2010* |
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GM
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$ |
12,759 |
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American Honda
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4,990 |
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Total
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$ |
17,749 |
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| * |
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GM and American Honda were considered related parties through May 27, 2010. |
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| Expenses Incurred With General Motors and American Honda |
We incurred the following related party expenses with GM and American Honda:
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For the Nine Months |
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Ended September 30, 2010* |
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American |
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GM |
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Honda |
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Sales and marketing
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$ |
13,374 |
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$ |
— |
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Revenue share and royalties
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15,823 |
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3,167 |
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Subscriber acquisition costs
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17,514 |
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1,969 |
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Customer service and billing
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125 |
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— |
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Interest expense, net of amounts capitalized
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1,421 |
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— |
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Total
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$ |
48,257 |
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$ |
5,136 |
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| * |
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GM and American Honda were considered related parties through May 27, 2010. |
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