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Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.1
Acquisitions (Tables)
3 Months Ended
Mar. 31, 2019
Acquisitions Ìý
Schedule of consideration paid with the acquisition

Ìý

Ìý

Ìý

Ìý

Pandora common stock outstanding at January 31, 2019

Ìý

272

Ìý

Exchange ratio

Ìý

1.44

Ìý

Sirius XM Holdings common stock issued

Ìý

392

Ìý

Price per share of Sirius XM Holdings common stock as of January 31, 2019

$

5.83

Ìý

Value of Sirius XM Holdings common stock issued to Pandora stockholders pursuant to the transactions

Ìý

2,285

Ìý

Value of Sirius XM Holdings replacement equity awards attributable to pre-combination service

Ìý

70

Ìý

Sirius XM Holdings' Pandora preferred stock investment cancelled

Ìý

524

Ìý

Total consideration

$

2,879

Ìý

Ìý

Schedule of Purchase Price Allocation

The preliminary acquisition price allocation for Pandora is as follows (in millions):

Ìý

Ìý

Ìý

Ìý

Ìý

Cash and cash equivalents

Ìý

$

313

Ìý

Trade and other receivables, net

Ìý

Ìý

361

Ìý

Other current assets

Ìý

Ìý

109

Ìý

Property and equipment

Ìý

Ìý

41

Ìý

Goodwill

Ìý

Ìý

1,541

Ìý

Intangible assets not subject to amortization

Ìý

Ìý

331

Ìý

Intangible assets subject to amortization, net

Ìý

Ìý

800

Ìý

Other assets

Ìý

Ìý

186

Ìý

Accounts payable and accrued liabilities

Ìý

Ìý

(302)

Ìý

Current portion of debt

Ìý

Ìý

(151)

Ìý

Deferred revenue

Ìý

Ìý

(37)

Ìý

Other current liabilities

Ìý

Ìý

(27)

Ìý

Long-term debt (a)

Ìý

Ìý

(218)

Ìý

Other liabilities

Ìý

Ìý

(68)

Ìý

Ìý

Ìý

$

2,879

Ìý


(a) In order to present the assets acquired and liabilities assumed, the conversion feature associated with Pandora’s convertible notes for $68Ìýmillion has been included within long-term debt in the table above and included within noncontrolling interest in equity of subsidiaries within the condensed consolidated statement of equity. See note 10 for details regarding Pandora’s convertible notes.

Business Acquisition, Pro Forma Information

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Three months ended

Ìý

Ìý

Ìý

March 31,

Ìý

Ìý

Ìý

2019

Ìý

2018

Ìý

Ìý

Ìý

amounts in millions

Ìý

Revenue

Ìý

$

2,128

Ìý

1,839

Ìý

Net earnings (loss)

Ìý

$

(108)

Ìý

96

Ìý

Net earnings (loss) attributable to Liberty stockholders

Ìý

$

(145)

Ìý

51

Ìý

Ìý