SIRIUS XM HOLDINGS INC. SIRI Cash Flow

Sirius xm holdings inc. (SIRI)

CashFlow / TTM

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
1,045,000	914,000	922,000	1,019,000	1,049,000	1,176,000	888,096	820,818	729,927	648,000	889,531	807,710	780,566	745,933	675,939	648,588	576,472	509,724	518,213	487,833	504,945	493,241	415,316	342,040	347,601	377,215	468,263	479,882	3,488,530	3,472,702	3,387,794	3,417,465	456,614	426,961	274,180	237,625	79,578	43,055	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
493,000	468,000	423,000	380,000	336,000	301,000	290,864	295,777	294,296	299,000	296,900	284,867	278,056	268,979	271,902	274,426	274,814	272,214	268,929	263,075	263,183	266,423	260,369	254,352	254,563	253,314	259,780	267,818	267,196	266,295	266,496	265,328	265,597	267,880	267,611	269,658	271,826	273,691	0	0	0
Non-cash interest expense, net of amortization of premium
18,000	17,000	14,000	11,000	11,000	9,000	9,269	9,769	8,896	9,000	8,768	8,609	8,658	8,608	8,592	8,234	8,074	7,872	10,375	14,128	17,660	21,039	21,707	21,545	21,487	21,698	21,644	25,825	30,719	35,924	41,090	41,312	40,589	39,515	39,069	39,781	41,295	42,841	0	0	0
Provision for doubtful accounts
58,000	53,000	53,000	54,000	54,000	51,000	51,671	52,623	52,956	56,000	58,641	57,611	56,930	55,941	52,835	51,025	49,407	47,237	46,117	45,593	45,212	44,961	43,320	40,150	38,240	39,016	38,166	39,822	39,750	34,548	31,908	30,299	29,749	33,164	35,288	34,367	34,500	32,379	0	0	0
Amortization of deferred income related to equity method investment
-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-2,918	-2,612	-4,694	-3,000	-6,936	-5,548	-2,772	-2,772	2,776	2,776	2,776	2,776	2,777	2,776	2,776	2,776	2,775	2,776	2,776	2,776	2,776	2,776	2,776	2,776	2,776	2,776	2,776	2,776	2,777	2,027	1,276	2,776	0	0	0
Gain (Loss) on Extinguishment of Debt
-56,000	-57,000	-57,000	-1,000	-1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-132,726	-132,726	-25,621	-11,183	-7,206	-92,631	-92,889	-123,664	-120,120	0	0	0
Loss on unconsolidated entity investments, net
-19,000	-21,000	-24,000	-20,000	-15,000	-10,000	-4,541	7,183	2,986	5,000	10,345	1,895	9,269	12,529	9,725	8,451	6,274	0	2,870	4,581	1,221	5,547	5,711	5,449	8,846	5,865	6,425	4,431	1,347	-420	-275	-3,944	-4,592	-6,520	-12,991	-11,702	-11,343	-11,722	0	0	0
Loss (gain) on other investments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on fair value instrument
-	-	-	-	-	43,000	1,755	118,000	31,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend received from unconsolidated entity investment
-	-	-	-	-	2,000	2,394	1,394	1,394	4,000	3,606	3,606	7,380	7,160	10,688	14,271	14,396	14,788	15,406	16,142	16,575	17,019	17,231	17,402	16,613	22,065	18,892	14,402	10,859	1,185	0	0	0	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-218	-295	-781	-657	-567	-488	-3	-269	0	0	0	-	-	-	-
Loss on change in value of derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-34,485	-54,878	-54,878	-47,416	-20,393	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Share-based payment expense
235,000	250,000	225,000	190,000	169,000	133,000	129,412	134,303	128,554	124,000	125,302	120,431	114,357	108,604	99,866	93,239	88,586	84,310	82,714	81,126	79,389	78,212	76,934	74,891	72,598	68,876	67,235	64,965	63,389	63,822	61,977	58,468	55,285	53,190	47,067	50,945	56,111	60,437	0	0	0
Deferred income taxes
254,000	259,000	294,000	269,000	262,000	257,000	438,810	497,585	548,495	584,000	333,139	341,807	329,087	323,562	388,634	389,930	331,185	365,499	368,272	347,235	389,190	327,461	285,270	258,561	250,721	259,787	234,387	152,915	-2,919,759	-3,001,818	-3,015,971	-2,989,501	8,725	8,264	3,462	1,898	2,252	2,308	0	0	0
Other non-cash purchase price adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,394	2,339	3,285	3,672	3,781	3,904	71,855	138,340	207,854	275,500	279,611	285,553	289,050	292,044	287,804	282,551	275,338	269,654	264,883	376,287	250,727	0	0	0
Changes in operating assets and liabilities:
Receivables
77,000	137,000	85,000	82,000	41,000	42,000	72,335	64,937	62,637	74,000	49,587	65,946	63,108	44,188	49,055	36,080	58,156	61,440	76,523	83,642	71,275	72,628	36,794	30,682	13,182	15,245	57,589	46,928	58,898	58,593	37,966	43,170	37,340	13,211	21,802	21,860	18,153	39,236	0	0	0
Receivables from distributors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	7,839	16,062	19,479	17,241	951	-2,194	13,968	11,023	0	0	0
Inventory
-8,000	-11,000	-5,000	-3,000	3,000	2,000	-3,396	-508	-1,609	-2,000	-7,271	-8,405	-4,783	-1,932	1,287	1,677	-1,182	2,898	2,393	3,044	3,950	5,534	10,108	4,867	-1,108	-11,474	-21,581	-20,196	-16,696	-11,374	-373	4,567	7,543	14,793	18,160	18,591	15,280	5,725	0	0	0
Related party, net
3,000	10,000	1,000	-2,000	-2,000	-1,000	-4,934	-1,756	3,497	2,000	6,046	7,050	678	3,485	3,306	13,027	18,958	14,953	16,067	11,257	4,262	4,303	4,293	-2,672	-720	-40	-18,505	-16,541	-1,150	-9,523	67,241	67,925	18,003	30,036	-23,151	-21,974	14,774	9,803	0	0	0
Prepaid expenses and other current assets
-10,000	3,000	-6,000	40,000	43,000	20,000	1,698	-56,617	-49,930	-50,000	-39,839	-14,591	-17,771	-7,156	12,431	36,435	66,647	67,204	55,634	44,959	4,615	1,195	-7,134	-44,048	-52,921	-16,788	-20,349	-11,638	-14,585	-647	6,814	9,912	17,996	-8,525	-22,552	-44,258	-50,832	-75,374	0	0	0
Other long-term assets
-3,000	-4,000	-9,000	-6,000	-7,000	-10,000	-5,441	-9,063	-11,309	-7,000	-19,726	-29,691	-41,482	-38,835	52,231	52,997	131,912	130,741	50,233	60,508	-2,890	-3,393	-5,471	-3,209	-2,312	-3,324	2,038	-7,553	-16,253	-22,779	-36,975	-37,095	-37,129	-36,490	-29,875	-22,698	-17,412	-17,671	0	0	0
Operating lease right-of-use assets
19,000	14,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term restricted investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Accounts payable and accrued expenses
-37,000	109,000	51,000	-72,000	33,000	-20,000	47,049	198,078	102,707	41,000	82,712	22,711	-2,548	78,920	24,271	-159,705	62,375	52,696	46,254	222,439	23,059	-17,191	-22,190	-14,797	-14,640	-44,009	14,747	28,329	45,365	46,043	41,108	17,946	-18,469	-32,010	-25,453	-19,988	10,489	5,420	0	0	0
Accrued interest
12,000	32,000	20,000	6,000	2,000	-9,000	-7,906	21,042	2,746	23,000	-15,831	10,488	-7,995	22,978	13,007	-140	22,132	11,215	19,379	42,215	10,374	38,355	22,066	17,206	-7,632	8,131	-10,547	-25,149	-12,554	-36,451	-14,460	-7,594	-3,015	-2,048	344	2,024	18,613	-884	0	0	0
Deferred revenue
-89,000	-58,000	-41,000	-19,000	24,000	70,000	97,045	96,221	80,063	42,000	36,938	60,895	76,868	79,404	116,037	128,351	135,411	145,242	105,046	69,843	54,088	48,645	64,288	59,458	60,974	73,593	83,064	81,139	92,609	101,311	88,460	70,975	72,293	55,336	60,233	92,089	91,635	133,444	0	0	0
Operating lease liabilities
42,000	36,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Related party liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-6,866	-7,875	-3,893	-7,545	-3,552	1	-41	-1,542	-1,777	1,523	4,532	-53,413	0	0	0
Other long-term liabilities
3,000	9,000	2,000	-4,000	-3,000	-1,000	1,605	10,642	8,219	7,000	3,442	-503	-333	-2,942	7,945	8,926	10,071	7,276	-5,839	-2,064	-10,196	-7,035	15,404	13,131	20,425	12,290	-4,700	-4,739	-3,060	3,042	4,473	2,584	1,770	152	-410	-241	-1,460	272	0	0	0
Net cash provided by operating activities
2,037,000	2,017,000	2,019,000	1,827,000	1,861,000	1,880,000	1,888,236	2,057,464	1,961,675	1,856,000	1,816,897	1,717,485	1,666,376	1,719,237	1,559,201	1,325,998	1,296,208	1,244,051	1,266,030	1,373,513	1,311,883	1,253,244	1,246,743	1,252,883	1,185,307	1,102,832	1,037,490	955,063	935,732	806,765	728,528	623,863	565,469	543,630	550,483	585,398	568,692	512,895	0	0	0
Cash flows from investing activities:
Additions to property and equipment
335,000	363,000	356,000	341,000	364,000	355,000	319,283	342,483	315,635	288,000	280,300	258,174	229,023	205,829	176,195	140,835	135,232	134,892	125,345	124,458	122,876	121,646	142,626	169,054	175,784	173,617	141,982	111,329	98,540	97,293	95,910	111,075	127,633	137,429	169,559	217,853	247,886	311,868	0	0	0
Purchases of other investments
7,000	7,000	8,000	8,000	7,000	8,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of business, net of cash acquired
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,144	524,208	524,208	524,208	525,352	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash received from Pandora Acquisition
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale of short-term investments
1,000	73,000	73,000	72,000	72,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in related parties and other equity investees
94,000	19,000	23,000	20,000	22,000	17,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment from related party
3,000	0	0	0	0	3,000	-258,794	-258,794	-128,000	-131,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of restricted and other investments
-	-	-	-	-	-	-	-	-	-	-	-	7,518	-	4,168	3,953	3,798	3,966	3,966	3,966	3,966	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-432,000	-3,000	-2,000	14,000	-10,000	-379,000	-333,338	-663,752	-1,171,614	-1,147,000	-1,138,372	-806,247	-236,541	-210,124	-180,363	-144,788	-139,030	-138,858	-129,311	-128,424	-102,664	-96,324	-642,656	-670,803	-701,711	-700,688	-143,727	-111,355	-98,566	-97,319	-96,736	-111,901	-118,092	-127,888	-159,192	-207,486	-247,882	-302,414	0	0	0
Cash flows from financing activities:
Sale of restricted and other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,454	0	0	0
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	331	480	570	11,281	21,968	55,938	106,356	111,550	123,369	91,758	43,303	33,246	11,553	0	0	0	-	-	-	-
Taxes paid from net share settlements for stock-based compensation
152,000	150,000	113,000	96,000	130,000	120,000	119,709	141,405	100,391	93,000	94,512	60,040	57,079	42,824	47,520	44,498	43,182	54,539	52,159	45,425	45,800	37,318	43,210	53,655	50,571	46,342	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Revolving credit facility, net of deferred financing costs
-582,000	-439,000	-54,000	0	214,000	136,000	-174,000	-1,003,000	-165,000	-90,000	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term borrowings, net of costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	983,571	1,834,323	1,744,321	3,669,950	2,406,205	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	1,274,707	0	0	0
Proceeds from sale of capped call security
0	3,000	3,000	3,000	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments of long-term borrowings
1,516,000	1,666,000	1,667,000	164,000	164,000	16,000	15,090	1,515,000	1,513,331	1,513,000	2,162,031	662,154	662,355	660,985	0	0	0	-	-	-	-	-	-	-	-	-	1,087,533	1,029,105	859,419	915,824	938,944	196,051	160,214	234,976	652,232	660,243	1,147,313	1,262,396	0	0	0
Payment of premiums on redemption of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-100,615	-100,615	-19,211	-7,528	-5,020	0	0	0	-	-	-	-
Repayment of long-term borrowings and revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	716,104	771,154	1,521,623	1,016,420	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock repurchased and retired
1,826,000	2,159,000	2,611,000	2,454,000	1,581,000	1,314,000	1,074,737	959,176	1,412,025	1,409,000	1,444,497	1,461,710	1,385,043	1,673,518	1,595,810	1,929,692	2,077,488	2,018,254	2,154,078	2,048,829	2,950,946	2,496,799	2,150,449	2,185,908	1,377,717	1,762,360	1,602,360	1,108,616	465,712	0	0	0	0	-	-	-	-	-	-	-	-
Related party long-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	196,118	0	0	0
Dividends paid
228,000	226,000	220,000	215,000	209,000	201,000	198,146	195,362	191,863	190,000	187,933	141,717	95,216	48,079	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash used for the redemption of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net cash used in financing activities
-1,626,000	-1,959,000	-1,984,000	-1,689,000	-1,867,000	-1,515,000	-1,581,897	-1,372,943	-941,610	-854,000	-1,176,969	-1,344,521	-1,301,299	-1,407,012	-959,001	-998,810	-1,537,269	-1,141,079	-1,087,759	-1,121,016	-848,347	-1,144,001	-1,217,286	-1,063,869	-569,152	-788,284	-733,249	-1,060,269	-1,377,015	-962,491	-680,114	-171,959	-134,496	-228,443	-102,954	-108,439	-155,653	-7,279	0	0	0
Net (decrease) increase in cash, cash equivalents and restricted cash
-21,000	55,000	33,000	152,000	-16,000	-14,000	-26,999	20,769	-151,549	-145,000	-498,444	-433,283	128,536	102,101	419,837	182,400	-380,091	-35,886	48,960	124,073	360,872	12,919	-613,199	-481,789	-85,556	-386,140	160,514	-216,561	-539,849	-253,045	-48,322	340,003	312,881	187,299	288,337	269,473	165,157	203,202	0	0	0
Supplemental Disclosure of Cash and Non-Cash Flow Information
Cash paid during the period for:
Interest, net of amounts capitalized
364,000	337,000	340,000	337,000	334,000	345,000	344,635	324,853	338,345	310,000	340,811	308,305	326,896	292,556	299,108	300,058	269,938	269,925	253,963	225,621	245,039	199,424	198,693	185,309	197,540	169,781	182,518	217,099	208,838	262,039	212,577	217,097	257,434	258,676	303,839	276,043	222,333	241,160	0	0	0
Income taxes paid
14,000	10,000	6,000	5,000	1,000	6,000	17,353	21,736	27,785	28,000	21,429	21,425	21,099	20,639	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
Capital lease obligations incurred to acquire assets
-	-	-	-	-	-	-	-	-	3,000	0	0	0	6,647	6,647	6,647	14,134	7,487	7,487	7,487	0	719	3,815	12,685	12,685	11,966	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of Series B preferred stock to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,293	1,293	2,587	2,587	1,294	0	0	0	-	-	-	-	-	-	-	-
Treasury stock not yet settled
-28,000	0	-1,000	-28,000	31,000	17,000	7,848	14,877	4,512	6,000	-2,553	-10,514	-1,448	821	11,149	7,390	16,626	23,727	35,573	41,090	3,279	26,034	15,565	-14,434	19,690	0	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-
Fair value of shares issued related to acquisition of a business
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
-18,000	14,000	-10,000	3,000	-13,000	-29,000	2,574	-1,746	10,017	19,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of shares issued related to acquisition of a business
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issuance upon exercise of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	0	0	0	-	-	-	-
Conversion of 7% Exchangeable Notes to common stock, net of debt issuance and deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	45,097	45,097	45,097	45,097	0	0	0	0	-	-	-	-	-	-	-	-
Sale-leaseback of equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,305	0	0	0