SIRIUS XM HOLDINGS INC. SIRI Cash Flow

Sirius xm holdings inc. (SIRI)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
293,000	243,000	246,000	263,000	162,000	251,000	343,000	293,000	289,000	-36,904	275,722	202,109	207,073	204,627	193,901	174,965	172,440	134,633	166,550	102,849	105,692	143,122	136,170	119,961	93,988	65,197	62,894	125,522	123,602	156,245	74,513	3,134,170	107,774	71,337	104,184	173,319	78,121	-81,444	67,629	15,272	41,598
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
132,000	124,000	118,000	119,000	107,000	79,000	75,000	75,000	72,000	68,864	79,913	73,519	76,704	66,764	67,880	66,708	67,627	69,687	70,404	67,096	65,027	66,402	64,550	67,204	68,267	60,348	58,533	67,415	67,018	66,814	66,571	66,793	66,117	67,015	65,403	67,062	68,400	66,746	67,450	69,230	70,265
Non-cash interest expense, net of amortization of premium
5,000	5,000	5,000	3,000	4,000	2,000	2,000	3,000	2,000	2,269	2,500	2,127	2,104	2,037	2,341	2,176	2,054	2,021	1,983	2,016	1,852	4,524	5,736	5,548	5,231	5,192	5,574	5,490	5,442	5,138	9,755	10,384	10,647	10,304	9,977	9,661	9,573	9,858	10,689	11,175	11,119
Provision for doubtful accounts
19,000	13,000	13,000	13,000	14,000	13,000	14,000	13,000	11,000	13,671	14,952	13,333	14,044	16,312	13,922	12,652	13,055	13,206	12,112	11,034	10,885	12,086	11,588	10,653	10,634	10,445	8,418	8,743	11,410	9,595	10,074	8,671	6,208	6,955	8,465	8,121	9,623	9,079	7,544	8,254	7,502
Amortization of deferred income related to equity method investment
-1,000	-1,000	-1,000	0	-1,000	-1,000	-1,000	0	-1,000	-918	-694	-2,082	694	-4,854	694	694	694	694	694	694	694	695	693	694	694	694	694	694	694	694	694	694	694	694	694	694	694	695	-56	-57	2,194
Gain (Loss) on Extinguishment of Debt
0	0	-56,000	0	-1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-107,105	-15,650	-9,971	0	0	-1,212	-5,994	-85,425	-258	-31,987	-2,450
Loss on unconsolidated entity investments, net
-2,000	-5,000	-6,000	-6,000	-4,000	-8,000	-2,000	-1,000	1,000	-2,541	9,724	-5,197	3,014	2,804	1,274	2,177	6,274	0	0	0	0	2,870	1,711	-3,360	4,326	3,034	1,449	37	1,345	3,594	-545	-3,047	-422	3,739	-4,214	-3,695	-2,350	-2,732	-2,925	-3,336	-2,729
Loss (gain) on other investments
-5,000	-	-	-	2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on fair value instrument
-	-	-	-	-	-31,000	-44,000	87,000	31,000	-72,245	72,245	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend received from unconsolidated entity investment
-	-	-	-	-	0	1,000	0	1,000	394	0	0	3,606	0	0	3,774	3,386	3,528	3,583	3,899	3,778	4,146	4,319	4,332	4,222	4,358	4,490	3,543	9,674	1,185	0	0	0	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	128	-2	-2	-124	-90	-79	-488	0	0	0	-3	-266	-	-	-	-
Loss on change in value of derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-7,462	-27,023	-20,393	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Share-based payment expense
55,000	58,000	65,000	57,000	70,000	33,000	30,000	36,000	34,000	29,412	34,891	30,251	29,446	30,714	30,020	24,177	23,693	21,976	23,393	19,524	19,417	20,380	21,805	17,787	18,240	19,102	19,762	15,494	14,518	17,461	17,492	13,918	14,951	15,616	13,983	10,735	12,856	9,493	17,861	15,901	17,182
Deferred income taxes
72,000	49,000	64,000	69,000	77,000	84,000	39,000	62,000	72,000	265,810	97,775	112,910	107,505	14,949	106,443	100,190	101,980	80,021	107,739	41,445	136,294	82,794	86,702	83,400	74,565	40,603	59,993	75,560	83,631	15,203	-21,479	-2,997,114	1,572	1,050	4,991	1,112	1,111	-3,752	3,427	1,466	1,167
Other non-cash purchase price adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	558	836	945	946	945	945	1,068	68,897	67,430	70,459	68,714	73,008	73,372	73,956	71,708	68,768	68,119	66,743	66,024	63,997	179,523	-58,817
Changes in operating assets and liabilities:
Receivables
-47,000	52,000	16,000	56,000	13,000	0	13,000	15,000	14,000	30,335	5,602	12,700	25,363	5,922	21,961	9,862	6,443	10,789	8,986	31,938	9,727	25,872	16,105	19,571	11,080	-9,962	9,993	2,071	13,143	32,382	-668	14,041	12,838	11,755	4,536	8,211	-11,291	20,346	4,594	4,504	9,792
Receivables from distributors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-30,469	8,526	-1,663	-	-9,303	1,039	11,220	4,883	-1,080	4,456	8,982	-11,407	-4,225	20,618	6,037
Inventory
1,000	-3,000	-2,000	-4,000	-2,000	3,000	0	2,000	-3,000	-2,396	2,888	899	-3,391	-7,667	1,754	4,521	-540	-4,448	2,144	1,662	3,540	-4,953	2,795	2,568	5,124	-379	-2,446	-3,407	-5,242	-10,486	-1,061	93	80	515	3,879	3,069	7,330	3,882	4,310	-242	-2,225
Related party, net
-6,000	10,000	-1,000	0	1,000	1,000	-4,000	0	2,000	-2,934	-822	5,253	503	1,112	182	-1,119	3,310	933	9,903	4,812	-695	2,047	5,093	-2,183	-654	2,037	-1,872	-231	26	-16,428	92	15,160	-8,347	60,336	776	-34,762	3,686	7,149	1,953	1,986	-1,285
Prepaid expenses and other current assets
18,000	-6,000	-11,000	-11,000	31,000	-15,000	35,000	-8,000	8,000	-33,302	-23,315	-1,313	7,930	-23,141	1,933	-4,493	18,545	-3,554	25,937	25,719	19,102	-15,124	15,262	-14,625	15,682	-23,453	-21,652	-23,498	51,815	-27,014	-12,941	-26,445	65,753	-19,553	-9,843	-18,361	39,232	-33,580	-31,549	-24,935	14,690
Other long-term assets
-2,000	1,000	-1,000	-1,000	-3,000	-4,000	2,000	-2,000	-6,000	559	-1,622	-4,246	-1,691	-12,167	-11,587	-16,037	956	78,899	-10,821	62,878	-215	-1,609	-546	-520	-718	-3,687	1,716	377	-1,730	1,675	-7,875	-8,323	-8,256	-12,521	-7,995	-8,357	-7,617	-5,906	-818	-3,071	-7,876
Operating lease right-of-use assets
-14,000	30,000	-14,000	17,000	-19,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term restricted investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,160
Accounts payable and accrued expenses
-131,000	30,000	43,000	21,000	15,000	-28,000	-80,000	126,000	-38,000	39,049	71,029	30,629	-99,707	80,761	11,028	5,370	-18,239	26,112	-172,948	227,450	-27,918	19,670	3,237	28,070	-68,168	14,671	10,630	28,227	-97,537	73,427	24,212	45,263	-96,859	68,492	1,050	8,848	-110,400	75,049	6,515	39,325	-115,469
Accrued interest
-62,000	56,000	-30,000	48,000	-42,000	44,000	-44,000	44,000	-53,000	45,094	-15,052	25,704	-32,746	6,263	11,267	7,221	-1,773	-3,708	-1,880	29,493	-12,690	4,456	20,956	-2,348	15,291	-11,833	16,096	-27,186	31,054	-30,511	1,494	-14,591	7,157	-8,520	8,360	-10,012	8,124	-6,128	10,040	6,577	-11,373
Deferred revenue
-11,000	-12,000	-42,000	-24,000	20,000	5,000	-20,000	19,000	66,000	32,045	-20,824	2,842	27,937	26,983	3,133	18,815	30,473	63,616	15,447	25,875	40,304	23,420	-19,756	10,120	34,861	39,063	-24,586	11,636	47,480	48,534	-26,511	23,106	56,182	35,683	-43,996	24,424	39,225	40,580	-12,140	23,970	81,034
Operating lease liabilities
-11,000	40,000	-11,000	24,000	-17,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Related party liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	177	-	-1,806	-4,720	5,891	-6,231	-2,815	-738	2,239	-2,238	738	-780	738	-2,473	4,038	2,229	-57,207
Other long-term liabilities
-1,000	5,000	-1,000	0	5,000	-2,000	-7,000	1,000	7,000	605	2,037	-1,423	5,781	-2,953	-1,908	-1,253	3,172	7,934	-927	-108	377	-5,181	2,848	-8,240	3,538	17,258	575	-946	-4,597	268	536	733	1,505	1,699	-1,353	-81	-113	1,137	-1,184	-1,300	1,619
Net cash provided by operating activities
416,000	532,000	544,000	545,000	396,000	534,000	352,000	579,000	415,000	542,236	521,228	483,211	309,325	503,133	421,816	432,102	362,186	343,097	188,613	402,312	310,029	365,076	296,096	340,682	251,390	358,575	302,236	273,106	168,915	293,233	219,809	253,775	39,948	214,996	115,144	195,381	18,109	221,849	150,059	178,675	-37,688
Cash flows from investing activities:
Additions to property and equipment
62,000	124,000	79,000	70,000	90,000	117,000	64,000	93,000	81,000	81,283	87,200	66,152	53,365	73,583	65,074	37,001	30,171	43,949	29,714	31,398	29,831	34,402	28,827	29,816	28,601	55,382	55,255	36,546	26,434	23,747	24,602	23,757	25,187	22,364	39,767	40,315	34,983	54,494	88,061	70,348	98,965
Purchases of other investments
6,000	0	0	1,000	6,000	1,000	0	0	7,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of business, net of cash acquired
0	-	-	-	-313,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1,144	525,352	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash received from Pandora Acquisition
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale of short-term investments
0	0	1,000	0	72,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in related parties and other equity investees
80,000	5,000	5,000	4,000	5,000	9,000	2,000	6,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment from related party
3,000	0	0	0	0	0	0	0	3,000	-261,794	0	130,794	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of restricted and other investments
-	-	-	-	-	-	-	-	-	-	-	-	7,021	-	215	155	3,798	0	0	0	3,966	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-145,000	-129,000	-83,000	-75,000	284,000	-128,000	-67,000	-99,000	-85,000	-82,338	-397,414	-606,862	-60,386	-73,710	-65,289	-37,156	-33,969	-43,949	-29,714	-31,398	-33,797	-34,402	-28,827	-5,638	-27,457	-580,734	-56,974	-36,546	-26,434	-23,773	-24,602	-23,757	-25,187	-23,190	-39,767	-29,948	-34,983	-54,494	-88,061	-70,344	-89,515
Cash flows from financing activities:
Sale of restricted and other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4	9,450
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	71	1	259	149	161	10,712	10,946	34,119	50,579	15,906	22,765	2,508	2,124	5,849	1,072	-	-	-	-
Taxes paid from net share settlements for stock-based compensation
35,000	46,000	57,000	14,000	33,000	9,000	40,000	48,000	23,000	8,709	61,696	6,986	15,609	10,221	27,224	4,025	1,354	14,917	24,202	2,709	12,711	12,537	17,468	3,084	4,229	18,429	27,913	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Revolving credit facility, net of deferred financing costs
0	-65,000	65,000	-582,000	143,000	320,000	119,000	-368,000	65,000	10,000	-710,000	470,000	140,000	-	-	-600,000	260,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term borrowings, net of costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-595,752	319,977	-4,399	1,263,745	255,000	229,975	1,921,230	0	-	-	-	-	-	-	-	-	-	-	-	-	637,301	0	0	637,406
Proceeds from sale of capped call security
0	0	0	0	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments of long-term borrowings
2,000	3,000	1,507,000	4,000	152,000	4,000	4,000	4,000	4,000	3,090	1,503,910	2,331	3,669	652,121	4,033	2,532	2,299	-	-	-	-	-	-	-	-	-	802,557	281,247	1,933	1,796	744,129	111,561	58,338	24,916	1,236	75,724	133,100	442,172	9,247	562,794	248,183
Payment of premiums on redemption of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-81,404	-12,609	-6,602	0	0	-926	-4,094	-	-	-	-
Repayment of long-term borrowings and revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32,907	2,818	657,731	22,648	87,957	753,287	152,528	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock repurchased and retired
243,000	200,000	485,000	898,000	576,000	652,000	328,000	25,000	309,000	412,737	212,439	477,849	305,975	448,234	229,652	401,182	594,450	370,526	563,534	548,978	535,216	506,350	458,285	1,451,095	81,069	160,000	493,744	642,904	465,712	0	0	0	0	-	-	-	-	-	-	-	-
Related party long-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49,024	0	0	147,094
Dividends paid
59,000	59,000	54,000	56,000	57,000	53,000	49,000	50,000	49,000	50,146	46,216	46,501	47,137	48,079	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash used for the redemption of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	524,065
Net cash used in financing activities
-339,000	-373,000	-597,000	-317,000	-672,000	-398,000	-302,000	-495,000	-320,000	-464,897	-93,046	-63,667	-232,390	-787,866	-260,598	-20,445	-338,103	-339,855	-300,407	-558,904	58,087	-286,535	-333,664	-286,235	-237,567	-359,820	-180,247	208,482	-456,699	-304,785	-507,267	-108,264	-42,175	-22,408	888	-70,801	-136,122	103,081	-4,597	-118,015	12,252
Net (decrease) increase in cash, cash equivalents and restricted cash
-68,000	30,000	-136,000	153,000	8,000	8,000	-17,000	-15,000	10,000	-4,999	30,768	-187,318	16,549	-358,443	95,929	374,501	-9,886	-40,707	-141,508	-187,990	334,319	44,139	-66,395	48,809	-13,634	-581,979	65,015	445,042	-314,218	-35,325	-312,060	121,754	-27,414	169,398	76,265	94,632	-152,996	270,436	57,401	-9,684	-114,951
Supplemental Disclosure of Cash and Non-Cash Flow Information
Cash paid during the period for:
Interest, net of amounts capitalized
155,000	37,000	129,000	43,000	128,000	40,000	126,000	40,000	139,000	39,635	106,218	53,492	110,655	70,446	73,712	72,083	76,315	76,998	74,662	41,963	76,302	61,036	46,320	61,381	30,687	60,305	32,936	73,612	2,928	73,042	67,517	65,351	56,129	23,580	72,037	105,688	57,371	68,743	44,241	51,978	76,198
Income taxes paid
5,000	4,000	1,000	4,000	1,000	0	0	0	6,000	11,353	4,383	6,049	6,215	4,782	4,379	5,723	5,755	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
Capital lease obligations incurred to acquire assets
-	-	-	-	-	-	-	-	-	3,000	0	0	0	0	0	0	6,647	0	0	7,487	0	0	0	0	719	3,096	8,870	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of Series B preferred stock to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,293	0	1,294	0	0	-	-	-	-	-	-	-	-
Treasury stock not yet settled
0	7,000	21,000	-56,000	28,000	6,000	-6,000	3,000	14,000	-3,152	1,029	-7,365	15,488	-11,705	-6,932	1,701	17,757	-1,377	-10,691	10,937	24,858	10,469	-5,174	-26,874	47,613	0	-35,173	7,250	27,923	-	-	0	0	-	-	-	-	-	-	-	-
Fair value of shares issued related to acquisition of a business
0	-	-	-	2,355,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
-25,000	5,000	-5,000	7,000	7,000	-19,000	8,000	-9,000	-9,000	12,574	3,680	2,763	-17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of shares issued related to acquisition of a business
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issuance upon exercise of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	7	-	-	-	-
Conversion of 7% Exchangeable Notes to common stock, net of debt issuance and deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	45,097	0	0	0	0	-	-	-	-	-	-	-	-
Sale-leaseback of equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,305