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Related Party Transactions (Tables)
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9 Months Ended |
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Sep. 30, 2013
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| Related Party Transaction [Line Items] |
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| Summary of Related Party Balances |
We had the following related party balances at September 30, 2013 and December 31, 2012:
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Related party current assets |
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Related party long-term assets |
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Related party current liabilities |
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Related party long-term liabilities |
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Related party debt |
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September 30, 2013 |
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December 31, 2012 |
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September 30, 2013 |
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December 31, 2012 |
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September 30, 2013 |
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December 31, 2012 |
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September 30, 2013 |
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December 31, 2012 |
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September 30, 2013 |
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December 31, 2012 |
Liberty Media |
$ |
— |
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$ |
— |
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$ |
405 |
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$ |
757 |
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$ |
1,845 |
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$ |
3,980 |
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$ |
— |
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$ |
— |
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$ |
60,331 |
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$ |
208,906 |
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Sirius XM Canada |
11,141 |
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13,167 |
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28,980 |
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44,197 |
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4,276 |
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2,776 |
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16,884 |
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18,966 |
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— |
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— |
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Total |
$ |
11,141 |
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$ |
13,167 |
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$ |
29,385 |
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$ |
44,954 |
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$ |
6,121 |
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$ |
6,756 |
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$ |
16,884 |
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$ |
18,966 |
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$ |
60,331 |
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$ |
208,906 |
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Liberty Media [Member]
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| Related Party Transaction [Line Items] |
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| Summary of Related Party Long Term Debt |
Liberty Media has advised us that as of September 30, 2013 and December 31, 2012 it also owned the following:
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September 30,
2013 |
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December 31,
2012 |
7% Exchangeable Senior Subordinated Notes due 2014 |
$ |
11,000 |
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$ |
11,000 |
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8.75% Senior Notes due 2015 |
— |
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150,000 |
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7.625% Senior Notes due 2018 |
50,000 |
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50,000 |
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Total principal debt |
61,000 |
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211,000 |
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Less: discounts |
669 |
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2,094 |
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Total carrying value of debt |
$ |
60,331 |
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$ |
208,906 |
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Sirius XM Canada [Member]
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| Related Party Transaction [Line Items] |
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| Schedule of Current Assets |
We had the following Related party current asset balances attributable to Sirius XM Canada at September 30, 2013 and December 31, 2012:
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September 30,
2013 |
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December 31,
2012 |
Deferred programming costs and accrued interest |
$ |
3,390 |
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$ |
4,350 |
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Dividends receivable |
— |
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6,176 |
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Chip set and other services reimbursement |
4,069 |
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2,641 |
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Fair value of host contract of debenture |
3,682 |
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— |
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Fair value of embedded derivative of debenture |
— |
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— |
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Total |
$ |
11,141 |
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$ |
13,167 |
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| Schedule of Non Current Assets |
Related party long-term asset balances attributable to Sirius XM Canada consisted of the following:
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September 30,
2013 |
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December 31,
2012 |
Non-interest bearing note, principal |
$ |
391 |
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$ |
404 |
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Fair value of host contract of debenture |
— |
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3,877 |
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Fair value of embedded derivative of debenture |
— |
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|
9 |
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Investment balance*
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28,589 |
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37,983 |
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Deferred programming costs and accrued interest |
— |
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1,924 |
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Total |
$ |
28,980 |
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$ |
44,197 |
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* The investment balance includes equity method goodwill and intangible assets of $26,524 and $27,615 as of September 30, 2013 and December 31, 2012, respectively.
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| Schedule of Related Party Liabilities |
Related party liabilities attributable to Sirius XM Canada consisted of the following:
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September 30,
2013 |
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December 31,
2012 |
Deferred revenue for NHL licensing fees |
$ |
1,500 |
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$ |
— |
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Carrying value of deferred revenue |
19,660 |
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|
21,742 |
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Total |
$ |
21,160 |
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$ |
21,742 |
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| Revenue from Related Party Transactions |
We recorded the following revenue from Sirius XM Canada as Other revenue in our unaudited consolidated statements of comprehensive income:
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
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2013 |
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2012 |
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2013 |
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2012 |
Royalty income |
$ |
8,611 |
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$ |
7,924 |
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$ |
26,081 |
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$ |
23,425 |
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Amortization of Sirius XM Canada deferred income |
694 |
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|
694 |
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2,082 |
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2,082 |
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Licensing fee revenue |
1,170 |
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|
1,500 |
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3,512 |
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4,500 |
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Advertising and other reimbursements |
194 |
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— |
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2,305 |
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|
833 |
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Total revenue from Sirius XM Canada |
$ |
10,669 |
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$ |
10,118 |
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$ |
33,980 |
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$ |
30,840 |
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