Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.19.3.a.u2
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2019
Pandora  
Schedule of consideration paid with the acquisition

Pandora common stock outstanding at January 31, 2019

272

Exchange ratio

1.44

Sirius XM Holdings common stock issued

392

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

$

5.83

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

2,285

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

70

Sirius XM Holdings' Pandora preferred stock investment cancelled

524

Total consideration

$

2,879

Schedule of Purchase Price Allocation

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

Cash and cash equivalents

$

313

Trade and other receivables, net

353

Other current assets

109

Property and equipment

41

Goodwill

1,553

Intangible assets not subject to amortization

331

Intangible assets subject to amortization, net

800

Other assets

213

Accounts payable and accrued liabilities

(324)

Current portion of debt

(151)

Deferred revenue

(37)

Other current liabilities

(28)

Long-term debt (a)

(218)

Other liabilities

(76)

$

2,879

(a) In order to present the assets acquired and liabilities assumed, the conversion feature associated with Pandora’s convertible notes for $62 million has been included within long-term debt in the table above and included within noncontrolling interest in equity of subsidiaries within the consolidated statement of equity. See note 9 for details regarding Pandora’s convertible notes.

Business Acquisition, Pro Forma Information

Years ended December 31,

2019

2018

2017

amounts in millions

Revenue

$

10,419

9,617

8,987

Net earnings (loss)

$

371

533

1,577

Net earnings (loss) attributable to Liberty stockholders

$

123

294

1,130

Formula 1  
Business Acquisition, Pro Forma Information

Year ended

December 31,

2017

amounts in millions

Revenue

$

7,595

Net earnings (loss)

$

1,874

Net earnings (loss) attributable to Liberty stockholders

$

1,338