Quarterly report [Sections 13 or 15(d)]

Segments and Geographic Information (Tables)

v3.25.1
Segments and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Segment revenue and gross profit were as follows during the periods presented:
For the Three Months Ended March 31, 2025
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 1,470  $ 132  $ 1,602 
Advertising revenue 39  355  394 
Other revenue 72  —  72 
Total revenue 1,581  487  2,068 
Cost of services
Revenue share and royalties
 $ (379) $ (308) $ (687)
Programming and content (a)
(129) (15) (144)
Other (a)(b)
(136) (25) (161)
Total cost of services
 (644) (348) (992)
Segment gross profit $ 937  $ 139  $ 1,076 
For the Three Months Ended March 31, 2024
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 1,547  $ 133  $ 1,680 
Advertising revenue 40  362  402 
Other revenue 80  —  80 
Total revenue 1,667  495  2,162 
Cost of services
Revenue share and royalties $ (395) $ (308) $ (703)
Programming and content (c)
(132) (16) (148)
Other (c)(d)
(147) (28) (175)
Total cost of services
 (674) (352) (1,026)
Segment gross profit $ 993  $ 143  $ 1,136 
Schedule of Reconciliation of Revenue from Segments to Consolidated
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Three Months Ended March 31, 2025
Segment Gross Profit $ 1,076 
Subscriber acquisition costs (100)
Sales and marketing (a)
(176)
Product and technology (a)
(63)
General and administrative (a)
(108)
Depreciation and amortization (144)
Share-based payment expense (50)
Impairment, restructuring and acquisition costs (48)
Total other (expense) income (118)
Consolidated income before income taxes
 $ 269 
(a)     Share-based payment expense of $12 related to cost of services, $14 related to sales and marketing, $10 related to product and technology and $14 related to general and administrative has been excluded for the three months ended March 31, 2025.
(b)    Sirius XM other costs of services related to customer service and billing of $93, transmission costs of $41 and cost of equipment of $2. Pandora other costs of services related to customer service and billing of $18 and transmission costs of $7.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Three Months Ended March 31, 2024
Segment Gross Profit $ 1,136 
Subscriber acquisition costs (90)
Sales and marketing (c)
(217)
Product and technology (c)
(74)
General and administrative (c)
(111)
Depreciation and amortization (155)
Share-based payment expense (48)
Impairment, restructuring and acquisition costs (32)
Total other (expense) income (100)
Consolidated income before income taxes $ 309 
(c)     Share-based payment expense of $11 related to cost of services, $12 related to sales and marketing, $12 related to product and technology and $13 related to general and administrative has been excluded for the three months ended March 31, 2024.
(d)    Sirius XM other costs of services related to customer service and billing of $96, transmission costs of $49 and cost of equipment of $2. Pandora other costs of services related to customer service and billing of $19 and transmission costs of $9.