Sirius XM Holdings Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

Earnings per Share

9 Months Ended

Sep. 30, 2015

(3)	Earnings per Share

Basic net income per common share is calculated by dividing the income available to common stockholders by the weighted average common shares outstanding during each reporting period. Diluted net income per common share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents (convertible debt, warrants, stock options and restricted stock units) were exercised or converted into common stock, calculated using the treasury stock method. We had no participating securities during the three and nine months ended September 30, 2015 and 2014.

Common stock equivalents of 162,433 and 143,697 for the three months ended September 30, 2015 and 2014, respectively, and 127,231 and 123,234 for the nine months ended September 30, 2015 and 2014, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2015		2014		2015		2014
Numerator:
Net income available to common stockholders for basic net income per common share	$	166,550	$	136,170	$	375,091	$	350,119
Add back:
Effect of interest on assumed conversions of convertible debt		—		5,363		—		16,088
Net income available to common stockholders for diluted net income per common share	$	166,550	$	141,533	$	375,091	$	366,207
Denominator:
Weighted average common shares outstanding for basic net income per common share		5,297,797		5,626,078		5,436,378		5,860,248
Weighted average impact of assumed convertible debt ^(a)	—			272,853	—			272,853
Weighted average impact of dilutive equity instruments		48,641		75,116		50,738		75,468
Weighted average shares for diluted net income per common share		5,346,438		5,974,047		5,487,116		6,208,569
Net income per common share:
Basic	$	0.03	$	0.02	$	0.07	$	0.06
Diluted	$	0.03	$	0.02	$	0.07	$	0.06

(a)	The 7% Exchangeable Senior Subordinated Notes due 2014 (the “Exchangeable Notes”) were fully converted into shares of our common stock as of December 1, 2014.