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0 i [] 0 d 0 J 0 j 3 M 499 241.75 m 563 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 227.75 m 357 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 203.75 m 357 203.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 201.75 m 357 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 227.75 m 427 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 203.75 m 427 203.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 201.75 m 427 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 227.75 m 495 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 203.75 m 495 203.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 201.75 m 495 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 227.75 m 563 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 203.75 m 563 203.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 201.75 m 563 201.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 677.42 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.20 684.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.60 676.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.75 684.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.10 676.98 Td (September 30,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 662.00 Td (\(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 315.00 661.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 661.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.50 661.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.50 661.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 647.42 Td (Revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 647.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 647.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 632.42 Td (Subscriber revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 632.42 Td (1,069,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 632.42 Td (974,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 632.42 Td (3,112,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 632.42 Td (2,826,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 617.42 Td (Advertising revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 617.42 Td (34,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 617.42 Td (33,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 617.42 Td (99,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 617.42 Td (88,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 602.42 Td (Equipment revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 602.42 Td (31,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 602.42 Td (25,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 602.42 Td (86,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 602.42 Td (79,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 587.42 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 587.42 Td (142,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 587.42 Td (136,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 587.42 Td (415,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 587.42 Td (379,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 572.42 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 572.42 Td (1,277,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 572.42 Td (1,169,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 572.42 Td (3,714,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 572.42 Td (3,373,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 557.42 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 542.42 Td (Cost of services:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 527.42 Td (Revenue share and royalties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 527.42 Td (272,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 527.42 Td (238,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 527.42 Td (788,952) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 527.42 Td (783,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 512.42 Td (Programming and content) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 512.42 Td (89,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 512.42 Td (75,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 512.42 Td (257,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 512.42 Td (216,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 497.42 Td (Customer service and billing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 497.42 Td (94,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 497.42 Td (94,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 497.42 Td (285,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 497.42 Td (278,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 482.42 Td (Satellite and transmission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 482.42 Td (22,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 482.42 Td (22,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 482.42 Td (80,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 482.42 Td (65,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 467.42 Td (Cost of equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.65 467.42 Td (9,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 467.42 Td (9,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 467.42 Td (29,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 467.42 Td (29,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 452.42 Td (Subscriber acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 452.42 Td (120,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 452.42 Td (133,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 452.42 Td (381,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 452.42 Td (391,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 437.42 Td (Sales and marketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 437.42 Td (99,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 437.42 Td (90,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 437.42 Td (279,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 437.42 Td (255,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 422.42 Td (Engineering, design and development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 422.42 Td (19,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 422.42 Td (16,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 422.42 Td (57,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 422.42 Td (47,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 407.42 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 407.42 Td (90,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 407.42 Td (67,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 407.42 Td (249,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 407.42 Td (219,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 392.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 392.42 Td (67,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 392.42 Td (70,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 392.42 Td (202,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 392.42 Td (202,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 377.42 Td (Total operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 377.42 Td (885,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 377.42 Td (818,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 377.42 Td (2,611,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 377.42 Td (2,489,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 362.42 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 362.42 Td (392,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 362.42 Td (351,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 362.42 Td (1,102,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 362.42 Td (884,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 347.42 Td (Other income \(expense\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 332.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.30 332.47 Td (\(89,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.15 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 332.47 Td (\(76,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 332.47 Td (\(250,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 332.47 Td (\(221,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 317.42 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.65 317.42 Td (2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 317.42 Td (4,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 317.42 Td (15,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 317.42 Td (9,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 302.42 Td (Total other expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.30 302.47 Td (\(86,722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.15 302.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 302.47 Td (\(72,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 302.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 302.47 Td (\(235,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 302.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 302.47 Td (\(212,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 302.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 287.42 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 287.42 Td (305,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 287.42 Td (279,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 287.42 Td (867,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 287.42 Td (671,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 272.42 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.30 272.47 Td (\(111,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.15 272.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 272.47 Td (\(112,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 272.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 272.47 Td (\(326,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 272.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 272.47 Td (\(296,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 272.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 257.42 Td (Net income attributable to Sirius XM Radio Inc.'s sole) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 247.42 Td (stockholder) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 247.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 247.42 Td (193,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 247.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 247.42 Td (166,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 247.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 247.42 Td (541,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 247.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 247.42 Td (375,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 232.42 Td (Foreign currency translation adjustment, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.80 232.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.15 232.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.80 232.47 Td (\(91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 232.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 232.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 232.47 Td (\(100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 232.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 217.42 Td (Total comprehensive income attributable to Sirius XM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 207.42 Td (Radio Inc.'s sole stockholder) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 207.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 207.42 Td (193,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 207.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 207.42 Td (166,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 207.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 207.42 Td (541,726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 207.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 207.42 Td (374,991) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.20 179.25 Td (See accompanying notes to the unaudited consolidated financial statements.) 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s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 132.75 m 562 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 118.75 m 483 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 116.75 m 483 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 118.75 m 562 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 116.75 m 562 116.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 51.50 697.00 Td (\(in thousands, except per share data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.60 696.98 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 491.75 696.98 Td (December 31, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.35 683.48 Td (ASSETS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.95 682.43 Td (\(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 668.32 Td (Current assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 653.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 652.42 Td (572,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 652.42 Td (111,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 638.32 Td (Receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 637.42 Td (233,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 637.42 Td (234,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 623.32 Td (Inventory, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 622.42 Td (28,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 622.42 Td (22,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 608.32 Td (Related party current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 607.42 Td (5,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 607.42 Td (5,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 593.32 Td (Prepaid expenses and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 592.42 Td (202,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 592.42 Td (187,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 578.32 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 577.42 Td (1,041,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 577.42 Td (561,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 563.32 Td (Property and equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 562.42 Td (1,381,114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 562.42 Td (1,415,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 548.32 Td (Intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 547.42 Td (2,556,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 547.42 Td (2,593,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 533.32 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 532.42 Td (2,205,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 532.42 Td (2,205,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 518.32 Td (Related party long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 517.42 Td (4,696,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 517.42 Td (3,522,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 503.32 Td (Deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 502.42 Td (1,101,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 502.42 Td (1,115,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 488.32 Td (Other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 487.42 Td (131,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 487.42 Td (155,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 473.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 472.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 472.42 Td (13,113,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 472.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.15 472.42 Td (11,568,824) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.20 458.48 Td (LIABILITIES AND STOCKHOLDER EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 457.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 457.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 443.32 Td (Current liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 442.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 442.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 428.32 Td (Accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 427.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 427.42 Td (613,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 427.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 427.42 Td (625,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 413.32 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 412.42 Td (108,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 412.42 Td (91,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 398.32 Td (Current portion of deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 397.42 Td (1,811,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 397.42 Td (1,771,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 383.32 Td (Current maturities of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 382.42 Td (358,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 382.42 Td (4,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 368.32 Td (Related party current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 367.42 Td (3,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 367.42 Td (2,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 353.32 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 352.42 Td (2,894,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 352.42 Td (2,496,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 338.32 Td (Deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 337.42 Td (170,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 337.42 Td (157,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 323.32 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 322.42 Td (5,743,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 322.42 Td (5,443,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 308.32 Td (Related party long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 307.42 Td (8,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 307.42 Td (10,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 293.32 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 292.42 Td (6,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 292.42 Td (6,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 278.32 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 277.42 Td (97,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 277.42 Td (97,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 263.32 Td (Total liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 262.42 Td (8,922,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 262.42 Td (8,213,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 248.32 Td (Commitments and contingencies \(Note 12\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 247.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 247.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 233.32 Td (Stockholder equity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 232.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 232.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 217.42 Td (Common stock, par value $0.001; 9,000,000 shares authorized; 1 share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 207.42 Td ( issued and outstanding at September 30, 2016 and December 31, 2015,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 197.42 Td (respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 197.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 197.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 183.32 Td (Accumulated other comprehensive loss, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 182.47 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 182.47 Td (\(502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 168.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 167.42 Td (8,679,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 167.42 Td (8,679,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 152.42 Td (Accumulated deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 152.47 Td (\(4,488,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 152.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 152.47 Td (\(5,323,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 152.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 138.32 Td (Total stockholder equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 137.42 Td (4,191,293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 137.42 Td (3,355,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 123.32 Td (Total liabilities and stockholder equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 122.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 122.42 Td (13,113,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 122.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.15 122.42 Td (11,568,824) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.20 92.45 Td (See accompanying notes to the unaudited consolidated financial statements.) 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Td ( ST) Tj ET Q q 0 0 0 rg BT 429.43 536.25 Td (OCKHOLDER EQUITY) Tj ET Q q 0 0 0 rg BT 537.13 536.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.35 524.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 466.75 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 466.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 466.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 466.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 466.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 466.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 466.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 552.50 466.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 556.50 466.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 620.50 466.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 624.50 466.75 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/F1 10.00 Tf ET q 0 0 0 rg BT 720.15 429.32 Td (541,726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 415.32 Td (Balance at September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 415.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 415.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 415.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 415.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 415.32 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 415.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 415.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 576.65 415.32 Td (8,679,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 627.00 415.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 641.30 415.32 Td (\(4,488,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 684.65 415.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 695.00 415.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 712.65 415.32 Td (4,191,293) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.20 381.25 Td (See accompanying notes to the unaudited consolidated financial statements.) 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ET q 0 0 0 rg BT 272.35 704.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 663.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 663.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 663.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 635.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 635.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 635.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 607.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 607.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 607.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 579.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 579.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 579.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 551.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 551.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 551.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 523.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 523.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 523.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 523.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 495.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 495.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 495.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 495.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 467.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 467.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 467.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 467.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 439.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 439.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 439.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 439.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 411.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 411.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 411.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 411.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 383.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 383.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 383.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 383.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 355.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 355.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 355.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 355.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 327.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 327.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 327.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 327.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 299.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 299.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 299.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 299.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 271.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 271.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 271.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 271.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 243.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 243.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 243.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 243.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 215.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 215.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 215.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 215.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 187.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 187.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 187.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 187.75 75.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 677.75 m 483 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 677.75 m 487 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 677.75 m 562 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 663.75 m 483 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 663.75 m 562 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 663.75 m 483 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 663.75 m 562 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 341.75 m 483 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 341.75 m 562 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 285.75 m 483 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 285.75 m 562 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 215.75 m 483 215.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 215.75 m 562 215.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 201.75 m 483 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 201.75 m 562 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 173.75 m 483 173.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 160.75 m 483 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 158.75 m 483 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 173.75 m 562 173.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 160.75 m 562 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 158.75 m 562 158.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 682.01 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.40 681.98 Td (For the Nine Months Ended September 30,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 51.50 668.00 Td (\(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.00 667.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 667.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 654.32 Td (Cash flows from operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 640.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 640.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 640.32 Td (541,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 640.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 640.32 Td (375,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 626.32 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 612.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 612.32 Td (202,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 612.32 Td (202,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 598.32 Td (Non-cash interest expense, net of amortization of premium) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 598.32 Td (6,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 598.32 Td (5,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 584.32 Td (Provision for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 584.32 Td (39,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 584.32 Td (34,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 570.32 Td (Amortization of deferred income related to equity method investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 570.37 Td (\(2,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 570.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 570.37 Td (\(2,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 570.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 556.32 Td (Gain on unconsolidated entity investments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 556.37 Td (\(9,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 556.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 556.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 542.32 Td (Dividend received from unconsolidated entity investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 542.32 Td (7,160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 542.32 Td (11,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 528.32 Td (Loss on disposal of assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 528.32 Td (12,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 528.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 514.32 Td (Share-based payment expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 514.32 Td (77,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 514.32 Td (62,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 500.32 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 500.32 Td (308,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 500.32 Td (285,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 486.32 Td (Other non-cash purchase price adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 486.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 486.37 Td (\(1,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 486.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 472.32 Td (Changes in operating assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 458.32 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 458.37 Td (\(38,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 458.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 458.37 Td (\(50,651) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 458.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 444.32 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 444.37 Td (\(5,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 444.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 444.37 Td (\(7,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 444.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 430.32 Td (Related party, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 430.37 Td (\(23,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 430.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 430.37 Td (\(52,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 430.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 416.32 Td (Prepaid expenses and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 416.37 Td (\(15,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 416.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 416.37 Td (\(70,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 416.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 402.32 Td (Other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 402.32 Td (26,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 402.37 Td (\(51,842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 402.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 388.32 Td (Accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 388.37 Td (\(12,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 388.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 388.32 Td (25,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 374.32 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 374.32 Td (16,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 374.32 Td (14,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 360.32 Td (Deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 360.32 Td (52,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 360.32 Td (81,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 346.32 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 346.32 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 346.37 Td (\(658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 346.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 332.32 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 332.32 Td (1,183,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 332.32 Td (861,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 318.32 Td (Cash flows from investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 304.32 Td (Additions to property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 304.37 Td (\(132,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 304.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 304.37 Td (\(90,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 304.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 290.32 Td (Purchases of restricted and other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 290.37 Td (\(4,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 290.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 290.37 Td (\(3,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 290.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 276.32 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 276.37 Td (\(136,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 276.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 276.37 Td (\(94,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 276.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 262.32 Td (Cash flows from financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 248.32 Td (Intercompany financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 248.37 Td (\(1,225,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 248.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 248.37 Td (\(1,647,728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 248.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 234.32 Td (Proceeds from long-term borrowings and revolving credit facility, net of costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 234.32 Td (1,387,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 234.32 Td (1,579,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 220.32 Td (Repayment of long-term borrowings and revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 220.37 Td (\(748,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 220.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 220.37 Td (\(693,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 220.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 206.32 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 206.37 Td (\(586,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 206.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 206.37 Td (\(761,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 206.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 192.32 Td (Net increase in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 192.32 Td (460,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 192.32 Td (4,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 178.32 Td (Cash and cash equivalents at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 178.32 Td (111,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 178.32 Td (147,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 164.32 Td (Cash and cash equivalents at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 164.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 164.32 Td (572,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 164.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 164.32 Td (152,545) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.20 130.25 Td (See accompanying notes to the unaudited consolidated financial statements.) Tj ET Q endstream endobj 15 0 obj <>] /Rotate 0 /Contents 16 0 R>> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 740.25 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 740.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.05 728.25 Td (\(a wholly-owned subsidiary of Sirius XM Holdings Inc.\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.95 716.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 221.77 716.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 256.32 716.25 Td (A) Tj ET Q q 0 0 0 rg BT 262.80 716.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 327.72 716.25 Td ( CASH FLOWS - Continued) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 704.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 662.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 662.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 662.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 662.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 634.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 634.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 634.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 634.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 606.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 606.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 606.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 606.75 75.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 676.75 m 484 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 676.75 m 488 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 676.75 m 563 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 676.75 m 484 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 662.75 m 484 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 676.75 m 563 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 662.75 m 563 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 662.75 m 484 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 662.75 m 563 662.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 681.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.40 680.98 Td (For the Nine Months Ended September 30,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 667.00 Td (\(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 666.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.00 666.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 653.32 Td (Supplemental Disclosure of Cash and Non-Cash Flow Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.32 Td (Cash paid during the period for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 625.32 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 625.32 Td (222,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 625.32 Td (192,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 611.32 Td (Income taxes paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 611.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 611.32 Td (15,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 611.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 611.32 Td (8,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 597.32 Td (Non-cash investing and financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 583.32 Td (Capital lease obligations incurred to acquire assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 583.32 Td (6,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 583.32 Td (7,487) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.20 555.25 Td (See accompanying notes to the unaudited consolidated financial statements.) Tj ET Q endstream endobj 17 0 obj <>] /Rotate 0 /Contents 18 0 R>> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.30 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (\(1\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 692.10 Td (Business & Basis of Pr) Tj ET Q q 0 0 0 rg BT 172.44 692.10 Td (esentation) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 674.10 Td (Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 656.10 Td (e transmit music, sports, entertainment, comedy) Tj ET Q q 0 0 0 rg BT 276.11 656.10 Td (, talk, news, traf) Tj ET Q q 0 0 0 rg BT 340.35 656.10 Td (fic and weather channels, as well as infotainment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (services, in the United States on a subscription fee basis through our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.28 644.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.28 644.10 Td ( proprietary satellite radio systems.Subscribers can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (also receive music and other channels, plus features such as SiriusXM On Demand and MySXM, over our Internet radio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (service, including through applications for mobile devices.) Tj ET Q q 0 0 0 rg BT 289.26 620.10 Td (W) Tj ET Q q 0 0 0 rg BT 297.89 620.10 Td (e are also a leader in providing connected vehicle services.Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (connected vehicle services are designed to enhance the safety) Tj ET Q q 0 0 0 rg BT 294.84 608.10 Td (, security and driving experience for vehicle operators while ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (providing marketing and operational benefits to automakers and their dealers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 572.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 572.10 Td (e have agreements with every major automaker \(OEMs\) to of) Tj ET Q q 0 0 0 rg BT 339.58 572.10 Td (fer satellite radio in their vehicles. ) Tj ET Q q 0 0 0 rg BT 478.51 572.10 Td (W) Tj ET Q q 0 0 0 rg BT 487.14 572.10 Td (e also acquire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (subscribers through marketing to owners and lessees of previously owned vehicles that include factory-installed satellite radios ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (that are not currently subscribing to our services. ) Tj ET Q q 0 0 0 rg BT 249.45 548.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 299.35 548.10 Td (, we distribute our satellite radios through retailers online and at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (locations nationwide and through our website.Satellite radio services are also of) Tj ET Q q 0 0 0 rg BT 373.95 536.10 Td (fered to customers of certain rental car ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 500.10 Td (Our primary source of revenue is subscription fees, with most of our customers subscribing on an annual, semi-annual, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (quarterly or monthly plan.) Tj ET Q q 0 0 0 rg BT 159.29 488.10 Td (W) Tj ET Q q 0 0 0 rg BT 167.93 488.10 Td (e of) Tj ET Q q 0 0 0 rg BT 183.02 488.10 Td (fer discounts for prepaid, longer term subscription plans, as well as a multiple subscription ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (discount.) Tj ET Q q 0 0 0 rg BT 90.71 476.10 Td (W) Tj ET Q q 0 0 0 rg BT 99.34 476.10 Td (e also derive revenue from activation and other fees, the sale of advertising on select non-music channels, the direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (sale of satellite radios and accessories, and other ancillary services, such as our weather) Tj ET Q q 0 0 0 rg BT 399.24 464.10 Td (, traf) Tj ET Q q 0 0 0 rg BT 417.93 464.10 Td (fic and data services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 440.10 Td (In certain cases, a subscription to our radio services is included in the sale or lease price of new or previously owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (vehicles. ) Tj ET Q q 0 0 0 rg BT 87.08 428.10 Td (The length of these subscriptions varies but is typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.10 428.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.08 428.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.86 428.10 Td (twelve months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.46 428.10 Td (.) Tj ET Q q 0 0 0 rg BT 408.78 428.10 Td (W) Tj ET Q q 0 0 0 rg BT 417.42 428.10 Td (e receive payments for these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (subscriptions from certain automakers.) Tj ET Q q 0 0 0 rg BT 209.83 416.10 Td (W) Tj ET Q q 0 0 0 rg BT 218.47 416.10 Td (e also reimburse various automakers for certain costs associated with satellite radios ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (installed in new vehicles.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 380.10 Td (As of September 30, 2016, Liberty Media Corporation \(Liberty Media\) beneficially owned, directly and indirectly) Tj ET Q q 0 0 0 rg BT 541.54 380.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 368.10 Td (65%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 368.10 Td ( of the outstanding shares of Holdings' common stock.) Tj ET Q q 0 0 0 rg BT 350.14 368.10 Td (As a result, Holdings is a controlled company for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (the purposes of the NASDAQ corporate governance requirements.Liberty Media owns interests in a range of media, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (communications and entertainment businesses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 320.10 Td (Recent Development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.50 302.10 Td (Recapitalization of Sirius XM Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 284.10 Td (On May 12, 2016, we entered into an arrangement agreement \(the Arrangement ) Tj ET Q q 0 0 0 rg BT 401.93 284.10 Td (Agreement\) with Sirius XM Canada ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (Holdings Inc. \("Sirius XM Canada"\), an entity in which we currently hold an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.58 272.10 Td (37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.91 272.10 Td ( economic interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.66 272.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.99 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (voting interest. Pursuant to the ) Tj ET Q q 0 0 0 rg BT 176.43 260.10 Td (Arrangement ) Tj ET Q q 0 0 0 rg BT 231.14 260.10 Td (Agreement, the Company and certain Canadian shareholders will form a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (company to acquire shares of Sirius XM Canada not already owned by us and certain Canadian shareholders pursuant to a plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (of arrangement \(the T) Tj ET Q q 0 0 0 rg BT 141.04 236.10 Td (ransaction\). In connection with the ) Tj ET Q q 0 0 0 rg BT 286.92 236.10 Td (T) Tj ET Q q 0 0 0 rg BT 292.68 236.10 Td (ransaction, Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 415.99 236.10 Td (s shareholders will be entitled to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (elect to receive, for each share of Sirius XM Canada held, C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.24 224.10 Td ($4.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.74 224.10 Td ( \(U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.86 224.10 Td ($3.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.36 224.10 Td ( as of May 12, 2016\) in \(i\) cash, \(ii\) shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (Holdings' common stock, \(iii\) a security exchangeable for shares of Holdings' common stock, or \(iv\) a combination thereof; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (provided that no more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.31 200.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.64 200.10 Td ( of the total consideration in the ) Tj ET Q q 0 0 0 rg BT 308.14 200.10 Td (T) Tj ET Q q 0 0 0 rg BT 313.90 200.10 Td (ransaction \(or up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.43 200.10 Td (35,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.93 200.10 Td ( shares\) will be issued in Holdings' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (common stock and exchangeable shares. ) Tj ET Q q 0 0 0 rg BT 216.39 188.10 Td (All of the obligations under the ) Tj ET Q q 0 0 0 rg BT 343.59 188.10 Td (Arrangement ) Tj ET Q q 0 0 0 rg BT 398.29 188.10 Td (Agreement are guaranteed by us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 164.10 Td (Following the ) Tj ET Q q 0 0 0 rg BT 134.65 164.10 Td (T) Tj ET Q q 0 0 0 rg BT 140.41 164.10 Td (ransaction, we are expected to hold a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.90 164.10 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.23 164.10 Td ( economic interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.97 164.10 Td (33%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 164.10 Td ( voting interest in Sirius XM ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (Canada, with the remainder of the voting power and economic interest held by Slaight Communications and Obelysk Media, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 140.10 Td ( of Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 155.05 140.10 Td (s current Canadian shareholders. ) Tj ET Q q 0 0 0 rg BT 287.87 140.10 Td (W) Tj ET Q q 0 0 0 rg BT 296.51 140.10 Td (e expect to contribute to Sirius XM Canada approximately U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td ($275,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 128.10 Td ( in connection with the ) Tj ET Q q 0 0 0 rg BT 180.96 128.10 Td (T) Tj ET Q q 0 0 0 rg BT 186.72 128.10 Td (ransaction \(assuming that all shareholders elect to receive cash in connection with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.26 116.10 Td (ransaction\), which amount is expected to be used to pay the cash consideration to Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 460.43 116.10 Td (s shareholders and will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (be decreased proportionately if shareholders elect to receive consideration in shares of Holdings' common stock or securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (exchangeable for Holdings' common stock.) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 704.10 Td (The ) Tj ET Q q 0 0 0 rg BT 94.37 704.10 Td (T) Tj ET Q q 0 0 0 rg BT 100.12 704.10 Td (ransaction has been approved by the stockholders of Sirius XM Canada and has received the required court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (approval. ) Tj ET Q q 0 0 0 rg BT 91.80 692.10 Td (The ) Tj ET Q q 0 0 0 rg BT 109.67 692.10 Td (T) Tj ET Q q 0 0 0 rg BT 115.43 692.10 Td (ransaction remains subject to receipt of Canadian Radio-T) Tj ET Q q 0 0 0 rg BT 347.70 692.10 Td (elevision and ) Tj ET Q q 0 0 0 rg BT 403.06 692.10 Td (T) Tj ET Q q 0 0 0 rg BT 408.47 692.10 Td (elecommunications Commission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (approval. Pending receipt of this approval, the ) Tj ET Q q 0 0 0 rg BT 239.27 680.10 Td (T) Tj ET Q q 0 0 0 rg BT 245.02 680.10 Td (ransaction is expected to close in the fourth quarter of 2016.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 654.60 Td (Basis of Presentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 638.10 Td (The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 626.10 Td (accepted accounting principles \(GAAP\). Certain information and footnote disclosures normally included in the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 614.10 Td (statements presented in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 239.90 614.10 Td ( have been condensed or omitted pursuant to such rules and regulations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 590.10 Td (The unaudited consolidated financial statements for Sirius XM for the quarterly period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.22 590.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.49 590.10 Td ( are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.10 Td (essentially identical to the unaudited consolidated financial statements included in Holdings' Form 10-Q for the quarterly period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.88 566.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.14 566.10 Td (, filed with the SEC on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.30 566.10 Td (October 27, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.01 566.10 Td (, with the following exceptions: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.50 542.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 542.10 Td (As a result of our corporate reor) Tj ET Q q 0 0 0 rg BT 213.60 542.10 Td (ganization ef) Tj ET Q q 0 0 0 rg BT 265.34 542.10 Td (fective November 15, 2013, all of the outstanding shares of Sirius XM's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 530.10 Td (common stock were converted, on a share for share basis, into identical shares of common stock of Holdings and all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 518.10 Td (equity-related transactions, including repurchases of Holdings' common stock and the issuance of equity related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 506.10 Td (stock-based compensation to Sirius XM employees, Holdings' directors and third parties have been reported as related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 494.10 Td (party transactions within Sirius XM's unaudited consolidated financial statements. Refer to Note 8 for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 482.10 Td (information related to related party transactions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 458.10 Td (Certain numbers in our prior period consolidated financial statements have been reclassified to conform to our current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 446.10 Td (period presentation. ) Tj ET Q q 0 0 0 rg BT 133.37 446.10 Td (All significant intercompany transactions have been eliminated in consolidation. In the opinion of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 434.10 Td (management, all normal recurring adjustments necessary for a fair presentation of our unaudited consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 422.10 Td (statements as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.87 422.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.14 422.10 Td ( and for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.45 422.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.09 422.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.92 422.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.18 422.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.62 422.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.62 422.10 Td ( have been made. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.10 Td (Interim results are not necessarily indicative of the results that may be expected for a full year) Tj ET Q q 0 0 0 rg BT 424.36 410.10 Td (. ) Tj ET Q q 0 0 0 rg BT 431.68 410.10 Td (This Quarterly Report should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 398.10 Td (read together with our ) Tj ET Q q 0 0 0 rg BT 140.03 398.10 Td (Annual Report for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.64 398.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.23 398.10 Td (, which is available on our website at http://) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 386.10 Td (investor) Tj ET Q q 0 0 0 rg BT 81.17 386.10 Td (.siriusxm.com/investor) Tj ET Q q 0 0 0 rg BT 172.63 386.10 Td (-overview/default.aspx#dividend-tab2, and with Holdings) Tj ET Q q 0 0 0 rg BT 406.55 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.50 386.10 Td (Annual Report on Form 10-K for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 374.10 Td (year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.58 374.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.17 374.10 Td (, which was filed with the SEC on February 2, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 350.10 Td (Public companies, including our parent Holdings, are required to disclose certain information about their reportable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 338.10 Td (operating segments. Operating segments are defined as significant components of an enterprise for which separate financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 326.10 Td (information is available and is evaluated on a regular basis by the chief operating decision makers in deciding how to allocate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 314.10 Td (resources to an individual segment and in assessing performance of the segment. ) Tj ET Q q 0 0 0 rg BT 374.50 314.10 Td (W) Tj ET Q q 0 0 0 rg BT 383.14 314.10 Td (e have determined that we have one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 302.10 Td (reportable segment as our chief operating decision maker) Tj ET Q q 0 0 0 rg BT 278.18 302.10 Td (, our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 376.58 302.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 394.49 302.10 Td (, assesses performance and allocates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 290.10 Td (resources based on the consolidated results of operations of our business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 266.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 266.10 Td (e have evaluated events subsequent to the balance sheet date and prior to the furnishing of this Quarterly Report for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 254.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.14 254.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.97 254.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.23 254.10 Td ( and have determined that no events have occurred that would require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 242.10 Td (adjustment to our unaudited consolidated financial statements.For a discussion of subsequent events that do not require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.10 Td (adjustment to our unaudited consolidated financial statements refer to Note 14.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 204.60 Td (Use of Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 188.10 Td (The preparation of financial statements in conformity with GAAP) Tj ET Q q 0 0 0 rg BT 339.95 188.10 Td ( requires management to make estimates and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (assumptions that af) Tj ET Q q 0 0 0 rg BT 126.53 176.10 Td (fect the amounts reported in the financial statements and footnotes. Estimates, by their nature, are based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (judgment and available information. ) Tj ET Q q 0 0 0 rg BT 199.46 164.10 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 292.87 164.10 Td (fer materially from those estimates. Significant estimates inherent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (in the preparation of the accompanying unaudited consolidated financial statements include asset impairment, depreciable lives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (of our satellites, share-based payment expense, and income taxes.) Tj ET Q endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (\(2\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 704.25 Td (Summary of Significant ) Tj ET Q q 0 0 0 rg BT 180.12 704.25 Td (Accounting Policies) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 686.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 93.90 686.25 Td (alue Measurements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 669.75 Td (For assets and liabilities required to be reported at fair value, GAAP) Tj ET Q q 0 0 0 rg BT 348.83 669.75 Td ( provides a hierarchy that prioritizes inputs to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 657.75 Td (valuation techniques used to measure fair value into three broad levels. Level1 inputs are based on unadjusted quoted prices in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 645.75 Td (active markets for identical instruments. Level2 inputs are inputs, other than quoted market prices included within Level1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 633.75 Td (that are observable for the asset or liability) Tj ET Q q 0 0 0 rg BT 219.62 633.75 Td (, either directly or indirectly) Tj ET Q q 0 0 0 rg BT 331.43 633.75 Td (. Level3 inputs are unobservable inputs for the asset or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 621.75 Td (liability) Tj ET Q q 0 0 0 rg BT 79.96 621.75 Td (. ) Tj ET Q q 0 0 0 rg BT 86.91 621.75 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.35 621.75 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.61 621.75 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.05 621.75 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.64 621.75 Td (, the carrying amounts of cash and cash equivalents, receivables, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 609.75 Td (and accounts payable approximated fair value due to the short-term nature of these instruments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 585.75 Td (Our assets and liabilities measured at fair value were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 538.25 137.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 538.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 538.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 538.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 538.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 538.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 538.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 538.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 538.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 538.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 492.25 137.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 492.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 492.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 492.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 492.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 492.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 492.25 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 492.25 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 492.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 492.25 47.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186 561.25 m 226 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 561.25 m 230 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 561.25 m 277 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 561.25 m 281 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 561.25 m 321 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 561.25 m 325 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 561.25 m 372 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 561.25 m 416 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 561.25 m 420 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 561.25 m 467 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 561.25 m 471 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 561.25 m 511 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 561.25 m 515 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 561.25 m 562 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186 561.25 m 226 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186 538.25 m 226 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 561.25 m 230 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 561.25 m 277 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 538.25 m 277 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 561.25 m 281 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 561.25 m 321 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 538.25 m 321 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 561.25 m 325 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 561.25 m 372 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 538.25 m 372 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 561.25 m 416 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 538.25 m 416 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 561.25 m 420 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 561.25 m 467 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 538.25 m 467 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 561.25 m 471 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 561.25 m 511 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 538.25 m 511 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 561.25 m 515 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 561.25 m 562 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 538.25 m 562 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186 538.25 m 226 538.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 538.25 m 277 538.25 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 565.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 240.95 565.70 Td (September 30, 2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 432.20 565.70 Td (December 31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 191.60 542.70 Td (Level 1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 239.10 542.70 Td (Level2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.60 542.70 Td (Level 3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.85 551.70 Td (T) Tj ET Q q 0 0 0 rg BT 334.03 551.70 Td (otalFair) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.15 542.70 Td (V) Tj ET Q q 0 0 0 rg BT 342.82 542.70 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 381.60 542.70 Td (Level 1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.10 542.70 Td (Level2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.60 542.70 Td (Level 3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 518.85 551.70 Td (T) Tj ET Q q 0 0 0 rg BT 524.03 551.70 Td (otalFair) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.15 542.70 Td (V) Tj ET Q q 0 0 0 rg BT 532.82 542.70 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 528.70 Td (Assets:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.50 528.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 514.71 Td (Sirius XM Canada Holdings Inc. ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 505.71 Td (\(Sirius XM Canada\) - ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 496.71 Td (investment ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 105.24 500.79 Td (\(a\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.50 496.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 193.25 496.71 Td (171,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 264.50 496.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.50 496.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 496.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.25 496.71 Td (171,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.50 496.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.25 496.71 Td (141,850) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.50 496.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.50 496.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.50 496.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 496.71 Td (141,850) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.50 482.70 Td (Liabilities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.50 482.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 468.71 Td (Debt ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 83.24 472.79 Td (\(b\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.50 468.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 468.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 237.50 468.71 Td (6,422,566) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.50 468.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 468.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.50 468.71 Td (6,422,566) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 468.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 468.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.50 468.71 Td (5,649,173) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.50 468.71 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.50 468.71 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.50 468.71 Td (5,649,173) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 450.95 Td (\(a\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 450.95 Td (This amount approximates fair value. ) Tj ET Q q 0 0 0 rg BT 215.55 450.95 Td (The carrying value of our investment in Sirius XM Canada was ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.24 450.95 Td ($5,853) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.99 450.95 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.49 450.95 Td ($0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.49 450.95 Td ( as of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 440.15 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.74 440.15 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 166.23 440.15 Td (December31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 236.96 440.15 Td (, respectively) Tj ET Q q 0 0 0 rg BT 284.35 440.15 Td (.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 429.35 Td (\(b\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 429.35 Td (The fair value for non-publicly traded instruments is based upon estimates from a market maker and brokerage firm. Refer to Note 9 ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 418.55 Td (for information related to the carrying value of our debt as of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.42 418.55 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.66 418.55 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.15 418.55 Td (December31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.88 418.55 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 393.05 Td (Recent ) Tj ET Q q 0 0 0 rg BT 97.95 393.05 Td (Accounting Pronouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 369.05 Td (In March 2016, the Financial ) Tj ET Q q 0 0 0 rg BT 195.81 369.05 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 326.43 369.05 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 383.10 369.05 Td (Accounting Standards Update \(ASU\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 357.05 Td (2016-09, Compensation-Stock Compensation \(T) Tj ET Q q 0 0 0 rg BT 243.23 357.05 Td (opic 718\): Improvements to Employee Share-Based Payment ) Tj ET Q q 0 0 0 rg BT 490.12 357.05 Td (Accounting. ) Tj ET Q q 0 0 0 rg BT 544.09 357.05 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 345.05 Td (areas for simplification in this ) Tj ET Q q 0 0 0 rg BT 171.42 345.05 Td (ASU involve several aspects of the accounting for share-based payment transactions, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 333.05 Td (the income tax consequences, classification of awards as either equity or liabilities, forfeiture calculations, and classification on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 165.68 321.05 Td (The amendments in this ) Tj ET Q q 0 0 0 rg BT 263.44 321.05 Td (ASU are ef) Tj ET Q q 0 0 0 rg BT 308.24 321.05 Td (fective for fiscal years beginning after December 15, 2016 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 309.05 Td (interim periods within those fiscal years, and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 346.10 309.05 Td (An entity that elects early adoption must adopt all of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 297.05 Td (the amendments in the same period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 273.05 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 273.05 Td (e elected to early adopt ) Tj ET Q q 0 0 0 rg BT 180.82 273.05 Td (ASU 2016-09 in the third quarter of 2016, which required that any adjustments be reflected as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 261.05 Td (of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. ) Tj ET Q q 0 0 0 rg BT 449.50 261.05 Td (The primary impact of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 249.05 Td (adoption of ) Tj ET Q q 0 0 0 rg BT 97.27 249.05 Td (ASU 2016-09 was the recognition of excess tax benefits in our provision for income taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.08 249.05 Td ($1,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.58 249.05 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.02 249.05 Td ($1,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.52 249.05 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 237.05 Td (the three months ended March 31, 2016 and June 30, 2016, respectively) Tj ET Q q 0 0 0 rg BT 336.56 237.05 Td (. ) Tj ET Q q 0 0 0 rg BT 343.88 237.05 Td (The adoption of this ) Tj ET Q q 0 0 0 rg BT 426.64 237.05 Td (ASU impacted our previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 225.05 Td (reported quarterly results during fiscal year 2016 as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 163.55 157.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.00 163.55 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 163.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 163.55 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 163.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 163.55 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 163.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 163.55 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 163.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 163.55 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 163.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 163.55 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 193.54999999999995 m 262 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 193.54999999999995 m 266 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 193.54999999999995 m 322 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 193.54999999999995 m 382 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 193.54999999999995 m 386 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 193.54999999999995 m 442 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 193.54999999999995 m 502 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 193.54999999999995 m 506 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 193.54999999999995 m 562 193.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 178.54999999999995 m 262 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 178.54999999999995 m 266 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 178.54999999999995 m 322 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 178.54999999999995 m 382 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 178.54999999999995 m 386 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 178.54999999999995 m 442 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 178.54999999999995 m 502 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 178.54999999999995 m 506 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 178.54999999999995 m 562 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 163.54999999999995 m 262 163.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 163.54999999999995 m 322 163.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 163.54999999999995 m 382 163.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 163.54999999999995 m 442 163.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 178.54999999999995 m 502 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 163.54999999999995 m 502 163.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 178.54999999999995 m 506 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 178.54999999999995 m 562 178.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 163.54999999999995 m 562 163.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 163.54999999999995 m 562 163.54999999999995 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 267.45 198.00 Td (For) Tj ET Q q 0 0 0 rg BT 281.28 198.00 Td ( the ) Tj ET Q q 0 0 0 rg BT 297.61 198.00 Td (Thr) Tj ET Q q 0 0 0 rg BT 312.45 198.00 Td (ee Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 198.00 Td (For) Tj ET Q q 0 0 0 rg BT 466.63 198.00 Td ( the Six Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.70 183.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 250.53 183.00 Td (ch 31, 2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.35 183.00 Td (June 30, 2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.35 183.00 Td (June 30, 2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 168.00 Td (Income statements:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.70 168.00 Td (As r) Tj ET Q q 0 0 0 rg BT 226.78 168.00 Td (eported) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 270.85 168.00 Td (As adjusted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 330.70 168.00 Td (As r) Tj ET Q q 0 0 0 rg BT 346.78 168.00 Td (eported) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.85 168.00 Td (As adjusted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.70 168.00 Td (As r) Tj ET Q q 0 0 0 rg BT 466.78 168.00 Td (eported) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 510.85 168.00 Td (As adjusted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 153.01 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.50 153.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.30 153.22 Td (\(109,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.15 153.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.50 153.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 153.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.30 153.27 Td (\(108,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 153.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.50 153.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.50 153.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.30 153.27 Td (\(108,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 153.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 153.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 153.27 Td (\(106,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 153.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.50 153.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.30 153.27 Td (\(217,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 153.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 153.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 153.27 Td (\(214,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 153.22 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 138.01 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.50 138.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.65 138.22 Td (171,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 138.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.65 138.22 Td (172,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.50 138.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 138.22 Td (173,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 138.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 138.22 Td (174,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.50 138.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 138.22 Td (344,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 138.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 138.22 Td (347,405) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 110.05 Td (Additionally) Tj ET Q q 0 0 0 rg BT 127.40 110.05 Td (, we recognized net operating losses related to excess share-based compensation tax return deductions that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 98.05 Td (were previously tracked of) Tj ET Q q 0 0 0 rg BT 156.22 98.05 Td (f balance sheet but not recorded in our financial statements. ) Tj ET Q q 0 0 0 rg BT 398.91 98.05 Td (As of January 1, 2016, the cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 86.05 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 86.05 Td (fect in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.89 86.05 Td ($293,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.39 86.05 Td (, net of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.88 86.05 Td ($1,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.38 86.05 Td ( reserve for an uncertain tax position, was recorded as an increase to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 74.05 Td (Deferred tax assets and decrease to our ) Tj ET Q q 0 0 0 rg BT 207.48 74.05 Td (Accumulated deficit in our unaudited consolidated balance sheets as a result of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.05 Td (cumulative ef) Tj ET Q q 0 0 0 rg BT 104.02 62.05 Td (fect of change in accounting principle.) Tj ET Q endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 704.10 Td (Additional amendments to this ) Tj ET Q q 0 0 0 rg BT 202.49 704.10 Td (ASU related to income taxes and minimum statutory withholding tax requirements had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (no impact to accumulated deficit, where the cumulative ef) Tj ET Q q 0 0 0 rg BT 281.72 692.10 Td (fect of these changes are required to be recorded. Further) Tj ET Q q 0 0 0 rg BT 512.04 692.10 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (no impact to our classification of awards as either equity or liabilities. ) Tj ET Q q 0 0 0 rg BT 333.68 680.10 Td (W) Tj ET Q q 0 0 0 rg BT 342.32 680.10 Td (e also elected to true-up forfeitures in the period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (adoption and in the future will recognize forfeitures as they occur) Tj ET Q q 0 0 0 rg BT 311.07 668.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 644.10 Td (This ) Tj ET Q q 0 0 0 rg BT 97.23 644.10 Td (ASU also required excess tax benefits to be separated from other income tax cash flows and classified as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (operating activity) Tj ET Q q 0 0 0 rg BT 119.10 632.10 Td (, however there was no impact to the consolidated statement of cash flows as we have not had any excess tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (benefits \(windfalls\) recorded for book purposes. ) Tj ET Q q 0 0 0 rg BT 247.04 620.10 Td (The presentation requirements for cash flows related to employee taxes paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (for withheld shares had no impact to any of the periods presented in our consolidated statement of cash flows as such cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (flows have historically been presented as a financing activity) Tj ET Q q 0 0 0 rg BT 292.65 596.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 572.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 171.46 572.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 220.37 572.10 Td (ASU 2016-02,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.70 572.10 Td ( Leases \(T) Tj ET Q q 0 0 0 rg BT 318.90 572.10 Td (opic 842\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.94 572.10 Td (. ) Tj ET Q q 0 0 0 rg BT 364.26 572.10 Td (This ) Tj ET Q q 0 0 0 rg BT 383.99 572.10 Td (ASU requires a company to recognize lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (assets and liabilities arising from operating leases in the statement of financial position. ) Tj ET Q q 0 0 0 rg BT 403.95 560.10 Td (This ) Tj ET Q q 0 0 0 rg BT 423.68 560.10 Td (ASU does not significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (change the previous lease guidance for how a lessee should recognize the recognition, measurement, and presentation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (expenses and cash flows arising from a lease. ) Tj ET Q q 0 0 0 rg BT 235.55 536.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 285.46 536.10 Td (, the criteria for classifying a finance lease versus an operating lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (are substantially the same as the previous guidance. ) Tj ET Q q 0 0 0 rg BT 260.92 524.10 Td (The amendments in this ) Tj ET Q q 0 0 0 rg BT 358.68 524.10 Td (ASU are ef) Tj ET Q q 0 0 0 rg BT 403.48 524.10 Td (fective for fiscal years beginning after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (December 15, 2018, including interim periods within those fiscal years, and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 470.33 512.10 Td (This ) Tj ET Q q 0 0 0 rg BT 490.05 512.10 Td (ASU must be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (adopted using a modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 251.47 500.10 Td (W) Tj ET Q q 0 0 0 rg BT 260.11 500.10 Td (e plan to adopt this ) Tj ET Q q 0 0 0 rg BT 338.16 500.10 Td (ASU on January 1, 2019. ) Tj ET Q q 0 0 0 rg BT 444.08 500.10 Td (W) Tj ET Q q 0 0 0 rg BT 452.72 500.10 Td (e are currently evaluating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (the impact of the adoption of this ) Tj ET Q q 0 0 0 rg BT 184.20 488.10 Td (ASU on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 464.10 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 153.70 464.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 202.60 464.10 Td (ASU 2014-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.43 464.10 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 306.09 464.10 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 435.75 464.10 Td (opic 606\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.79 464.10 Td (. ) Tj ET Q q 0 0 0 rg BT 481.11 464.10 Td (This ) Tj ET Q q 0 0 0 rg BT 500.84 464.10 Td (ASU is a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (This ) Tj ET Q q 0 0 0 rg BT 69.23 428.10 Td (ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (to obtain or fulfill a contract. In ) Tj ET Q q 0 0 0 rg BT 180.30 404.10 Td (August 2015, the F) Tj ET Q q 0 0 0 rg BT 256.22 404.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 305.13 404.10 Td (ASU 2015-14 which amended the ef) Tj ET Q q 0 0 0 rg BT 451.30 404.10 Td (fective date of this ) Tj ET Q q 0 0 0 rg BT 527.38 404.10 Td (ASU to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (fiscal years beginning after December 15, 2017, and early adoption is permitted only for fiscal years beginning after December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (15, 2016. ) Tj ET Q q 0 0 0 rg BT 91.82 380.10 Td (W) Tj ET Q q 0 0 0 rg BT 100.46 380.10 Td (e plan to adopt this ) Tj ET Q q 0 0 0 rg BT 178.50 380.10 Td (ASU on January 1, 2018. In 2016, the F) Tj ET Q q 0 0 0 rg BT 339.97 380.10 Td (ASB issued additional guidance which clarified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (principal versus agent considerations, identification of performance obligations and the implementation guidance for licensing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (In addition, the F) Tj ET Q q 0 0 0 rg BT 117.64 356.10 Td (ASB issued guidance regarding practical expedients related to disclosures of remaining performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (obligations, as well as other amendments to guidance on transition, collectibility) Tj ET Q q 0 0 0 rg BT 370.45 344.10 Td (, non-cash consideration and the presentation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (sales and other similar taxes. Companies may use either a full retrospective or a modified retrospective approach to adopt this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (ASU.) Tj ET Q q 0 0 0 rg BT 76.82 320.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.46 320.10 Td (e are currently evaluating the impact of the adoption of this ) Tj ET Q q 0 0 0 rg BT 324.55 320.10 Td (ASU on our consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (\(3\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 284.10 Td (Receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 266.10 Td (Receivables, net, includes customer accounts receivable, receivables from distributors and other receivables.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 242.10 Td (Customer accounts receivable, net, includes receivables from our subscribers and advertising customers and is stated at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.10 Td (amounts due, net of an allowance for doubtful accounts. Our allowance for doubtful accounts is based upon our assessment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 218.10 Td (various factors. ) Tj ET Q q 0 0 0 rg BT 115.96 218.10 Td (W) Tj ET Q q 0 0 0 rg BT 124.60 218.10 Td (e consider historical experience, the age of the receivable balances, current economic conditions and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 206.10 Td (factors that may af) Tj ET Q q 0 0 0 rg BT 124.01 206.10 Td (fect the counterparty) Tj ET Q q 0 0 0 rg BT 209.52 206.10 Td (s ability to pay) Tj ET Q q 0 0 0 rg BT 268.03 206.10 Td (. Bad debt expense is included in Customer service and billing expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 194.10 Td (in our unaudited consolidated statements of comprehensive income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 170.10 Td (Receivables from distributors primarily include billed and unbilled amounts due from OEMs for services included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 158.10 Td (sale or lease price of vehicles, as well as billed amounts due from wholesale distributors of our satellite radios. Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 146.10 Td (receivables primarily include amounts due from manufacturers of our radios, modules and chipsets where we are entitled to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 134.10 Td (subsidies and royalties based on the number of units produced. ) Tj ET Q q 0 0 0 rg BT 305.38 134.10 Td (W) Tj ET Q q 0 0 0 rg BT 314.02 134.10 Td (e have not established an allowance for doubtful accounts for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 122.10 Td (our receivables from distributors or other receivables as we have historically not experienced any significant collection issues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 110.10 Td (with OEMs or other third parties.) 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ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 33.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 33.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 704.10 Td (Receivables, net, consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 678.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 678.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 678.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 678.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 648.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 648.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 648.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 648.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 618.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 618.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 618.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 618.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 678.6 m 484 678.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 678.6 m 563 678.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 678.6 m 484 678.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 678.6 m 563 678.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 648.6 m 484 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 648.6 m 563 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 603.6 m 484 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 589.6 m 484 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 587.6 m 484 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 603.6 m 563 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 589.6 m 563 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 587.6 m 563 587.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 683.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.60 682.83 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.75 682.83 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 668.27 Td (Gross customer accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 668.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 668.27 Td (108,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 668.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 668.27 Td (98,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 653.27 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 653.32 Td (\(7,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 653.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 653.32 Td (\(6,118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 653.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 638.27 Td (Customer accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 638.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 638.27 Td (100,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 638.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 638.27 Td (92,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 623.27 Td (Receivables from distributors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 623.27 Td (107,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 623.27 Td (120,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 608.27 Td (Other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 608.27 Td (25,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 608.27 Td (22,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 593.27 Td (Total receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 593.27 Td (233,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 593.27 Td (234,782) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 553.10 Td (\(4\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 553.10 Td (Inventory) Tj ET Q q 0 0 0 rg BT 118.17 553.10 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 535.10 Td (Inventory consists of finished goods, refurbished goods, chipsets and other raw material components used in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 523.10 Td (manufacturing radios. Inventory is stated at the lower of cost or market. ) Tj ET Q q 0 0 0 rg BT 341.17 523.10 Td (W) Tj ET Q q 0 0 0 rg BT 349.81 523.10 Td (e record an estimated allowance for inventory that is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 511.10 Td (considered slow moving or obsolete or whose carrying value is in excess of net realizable value. ) Tj ET Q q 0 0 0 rg BT 439.20 511.10 Td (The provision related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 499.10 Td (products purchased for resale in our direct to consumer distribution channel and components held for resale by us is reported as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 487.10 Td (a component of Cost of equipment in our unaudited consolidated statements of comprehensive income. ) Tj ET Q q 0 0 0 rg BT 467.00 487.10 Td (The provision related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 475.10 Td (to inventory consumed in our OEM and retail distribution channel is reported as a component of Subscriber acquisition costs in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 463.10 Td (our unaudited consolidated statements of comprehensive income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 439.10 Td (Inventory) Tj ET Q q 0 0 0 rg BT 114.73 439.10 Td (, net, consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 413.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 413.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 413.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 413.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 383.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 383.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 383.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 383.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 413.6 m 484 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 413.6 m 563 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 413.6 m 484 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 413.6 m 563 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 368.6 m 484 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 368.6 m 563 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 368.6 m 484 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 354.6 m 484 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 352.6 m 484 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 368.6 m 563 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 354.6 m 563 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 352.6 m 563 352.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 418.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.60 417.83 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.75 417.83 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 403.27 Td (Raw materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 403.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 403.27 Td (11,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 403.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 403.27 Td (11,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 388.27 Td (Finished goods) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 388.27 Td (25,937) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 388.27 Td (21,159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 373.27 Td (Allowance for obsolescence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 373.32 Td (\(9,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 373.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 373.32 Td (\(9,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 373.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 358.27 Td (Total inventory, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 358.27 Td (28,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 358.27 Td (22,295) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (\(5\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 318.10 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 300.10 Td (Goodwill represents the excess of the purchase price over the estimated fair value of the net tangible and identifiable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 288.10 Td (intangible assets acquired in business combinations. Our annual impairment assessment of our single reporting unit is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 276.10 Td (performed as of the fourth quarter of each year) Tj ET Q q 0 0 0 rg BT 236.23 276.10 Td (, and an assessment is performed at other times if an event occurs or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 264.10 Td (circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount.If the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.10 Td (carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 228.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.94 228.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.21 228.10 Td (, there were no indicators of impairment, and no impairment loss was recorded for goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 216.10 Td (during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.83 216.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.47 216.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.29 216.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.55 216.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.99 216.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.99 216.10 Td (. ) Tj ET Q q 0 0 0 rg BT 336.94 216.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.38 216.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.65 216.10 Td (, the cumulative balance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 204.10 Td (goodwill impairments recorded since the July 2008 mer) Tj ET Q q 0 0 0 rg BT 272.32 204.10 Td (ger \(the Mer) Tj ET Q q 0 0 0 rg BT 326.56 204.10 Td (ger\) between our wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 501.14 204.10 Td (, ) Tj ET Q q 0 0 0 rg BT 505.96 204.10 Td (V) Tj ET Q q 0 0 0 rg BT 512.07 204.10 Td (ernon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 192.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 65.98 192.10 Td (ger Corporation, and XM Satellite Radio Holdings Inc. \(XM\), was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.42 192.10 Td ($4,766,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.42 192.10 Td (, which was recognized during the year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 180.10 Td (ended December31, 2008.) Tj ET Q endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (\(6\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 704.25 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 122.35 704.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 686.25 Td (Our intangible assets include the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 633.75 131.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 633.75 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 633.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 633.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 633.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 633.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 633.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 633.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 605.75 131.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 605.75 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 605.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 605.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 605.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 605.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 605.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 605.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 577.75 131.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 577.75 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 577.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 577.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 577.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 577.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 577.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 577.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 549.75 131.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 549.75 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 549.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 549.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 549.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 549.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 549.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 549.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 521.75 131.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 521.75 48.00 -14.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 181.00 493.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 493.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 493.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 493.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 493.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 493.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 493.75 52.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 662.75 m 284 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 662.75 m 288 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 662.75 m 340 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 662.75 m 344 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 662.75 m 396 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 662.75 m 451 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 662.75 m 455 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 662.75 m 507 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 662.75 m 511 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 662.75 m 563 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181 633.75 m 229 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 633.75 m 284 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 633.75 m 340 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 633.75 m 396 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 633.75 m 451 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 633.75 m 507 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 633.75 m 563 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 493.75 m 284 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 479.75 m 284 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 477.75 m 284 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 493.75 m 340 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 479.75 m 340 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 477.75 m 340 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 493.75 m 396 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 479.75 m 396 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 477.75 m 396 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 493.75 m 451 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 479.75 m 451 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 477.75 m 451 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 493.75 m 507 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 479.75 m 507 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 477.75 m 507 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 493.75 m 563 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 479.75 m 563 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 477.75 m 563 477.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 666.32 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.50 667.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.60 666.98 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.75 666.98 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 638.42 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 188.25 653.98 Td (Weighted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.55 645.98 Td (Average) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 183.50 637.98 Td (UsefulLives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.05 653.98 Td (Gross) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.20 645.98 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.35 637.98 Td (Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.80 645.98 Td (Accumulated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.60 637.98 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.70 645.98 Td (NetCarrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.85 637.98 Td (Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.05 653.98 Td (Gross) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.20 645.98 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.35 637.98 Td (Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.80 645.98 Td (Accumulated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.60 637.98 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.70 645.98 Td (NetCarrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 637.98 Td (Value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 625.01 Td (Indefinite life intangible assets:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 280.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 624.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 611.01 Td (FCC licenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 190.50 610.21 Td (Indefinite) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.50 610.21 Td (2,083,654) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.50 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 610.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 610.21 Td (2,083,654) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.50 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 610.21 Td (2,083,654) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 457.50 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.50 610.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 513.50 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 610.21 Td (2,083,654) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 597.01 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 597.01 Td (rademark) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 190.50 596.21 Td (Indefinite) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 596.21 Td (250,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 596.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.25 596.21 Td (250,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.25 596.21 Td (250,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.50 596.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 596.21 Td (250,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 583.01 Td (Definite life intangible assets:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 280.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 582.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 569.01 Td (Subscriber relationships) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 199.75 568.21 Td (9 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 568.21 Td (380,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 568.21 Td (\(358,140) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 568.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.75 568.21 Td (21,860) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.25 568.21 Td (380,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 568.21 Td (\(336,822) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 568.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 568.21 Td (43,178) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 555.01 Td (OEM relationships) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.25 554.21 Td (15 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 554.21 Td (220,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.75 554.21 Td (\(42,778) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 554.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.25 554.21 Td (177,222) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.25 554.21 Td (220,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 554.21 Td (\(31,778) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 554.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 554.21 Td (188,222) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 541.01 Td (Licensing agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.25 540.21 Td (12 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.75 540.21 Td (45,289) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.75 540.21 Td (\(29,741) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 540.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.75 540.21 Td (15,548) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.75 540.21 Td (45,289) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 540.21 Td (\(26,977) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 540.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 540.21 Td (18,312) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 527.01 Td (Proprietary software) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 199.75 526.21 Td (8 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.75 526.21 Td (27,215) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.75 526.21 Td (\(19,298) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 526.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.25 526.21 Td (7,917) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.75 526.21 Td (27,215) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 526.21 Td (\(17,752) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 526.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 526.21 Td (9,463) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 513.01 Td (Developed technology) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.25 512.21 Td (10 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 260.25 512.21 Td (2,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 512.21 Td (\(1,633) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 512.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.00 512.21 Td (367) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.25 512.21 Td (2,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 512.21 Td (\(1,483) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 512.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 512.21 Td (517) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 499.01 Td (Leasehold interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 193.00 498.21 Td (7.4 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 498.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 498.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.50 498.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 498.21 Td (132) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 498.21 Td (\(132) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 498.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 498.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 485.01 Td (T) Tj ET Q q 0 0 0 rg BT 81.37 485.01 Td (otal intangible assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 483.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 483.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.50 483.21 Td (3,008,158) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.50 483.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 483.21 Td (\(451,590) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 483.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 483.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 483.21 Td (2,556,568) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.50 483.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 483.21 Td (3,008,290) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 457.50 483.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 483.21 Td (\(414,944) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 483.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 513.50 483.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 483.21 Td (2,593,346) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 455.25 Td (Indefinite Life Intangible ) Tj ET Q q 0 0 0 rg BT 170.13 455.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 437.25 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 437.25 Td (e have identified our FCC licenses and the XM trademark as indefinite life intangible assets after considering the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (expected use of the assets, the regulatory and economic environment within which they are used and the ef) Tj ET Q q 0 0 0 rg BT 476.39 425.25 Td (fects of obsolescence ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (on their use.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 389.25 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 389.25 Td (e hold FCC licenses to operate our satellite digital audio radio service and provide ancillary services. ) Tj ET Q q 0 0 0 rg BT 490.67 389.25 Td (The following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (table outlines the years in which each of our satellite licenses expires: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 351.75 402.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 351.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 351.75 106.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 325.75 402.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 325.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 325.75 106.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 299.75 402.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 299.75 106.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 351.75 m 452 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 351.75 m 562 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 351.75 m 562 351.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 355.98 Td (FCC satellite licenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.55 355.98 Td (Expirationyear) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 342.32 Td (SIRIUS FM-1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 342.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 329.32 Td (SIRIUS FM-5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 329.32 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.32 Td (SIRIUS FM-6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 316.32 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 303.32 Td (XM-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 303.32 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 290.32 Td (XM-4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 290.32 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 277.32 Td (XM-5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 277.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 263.45 Td (* ) Tj ET Q q 0 0 0 rg BT 55.75 263.45 Td (As of ) Tj ET Q q 0 0 0 rg BT 77.26 263.45 Td (April 7, 2016, this satellite was no longer being used to transmit satellite radio. ) Tj ET Q q 0 0 0 rg BT 365.54 263.45 Td (W) Tj ET Q q 0 0 0 rg BT 373.32 263.45 Td (e plan to complete the deorbiting of this satellite ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 252.65 Td (during the fourth quarter of 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 228.65 Td (Prior to expiration of our FCC licenses, we are required to apply for a renewal of our FCC licenses.) Tj ET Q q 0 0 0 rg BT 480.00 228.65 Td (The renewal and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (extension of our licenses is reasonably certain at minimal cost, which is expensed as incurred.Each of the FCC licenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 204.65 Td (authorizes us to use the radio spectrum, which is a renewable, reusable resource that does not deplete or exhaust over time.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 180.65 Td (Our annual impairment assessment of our identifiable indefinite lived intangible assets is performed as of the fourth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 168.65 Td (quarter of each year) Tj ET Q q 0 0 0 rg BT 128.62 168.65 Td (. ) Tj ET Q q 0 0 0 rg BT 135.56 168.65 Td (An assessment is performed at other times if an event occurs or circumstances change that would more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 156.65 Td (likely than not reduce the fair value of the asset below its carrying value. If the carrying value of the intangible assets exceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 144.65 Td (its fair value, an impairment loss is recognized. ) Tj ET Q q 0 0 0 rg BT 243.06 144.65 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 144.65 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.77 144.65 Td (, there were no indicators of impairment, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.48 144.65 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.48 144.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (impairment loss was recorded for intangible assets with indefinite lives during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.98 132.65 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.62 132.65 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.44 132.65 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.65 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 120.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.94 120.65 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.94 120.65 Td (.) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (13) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 704.25 Td (Definite Life Intangible ) Tj ET Q q 0 0 0 rg BT 162.90 704.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 686.25 Td (Amortization expense for all definite life intangible assets was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.92 686.25 Td ($12,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.42 686.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.86 686.25 Td ($12,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.36 686.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 674.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.76 674.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.20 674.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.20 674.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 221.86 674.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.80 674.25 Td ($36,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.30 674.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.74 674.25 Td ($39,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.24 674.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.62 674.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.83 674.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.66 674.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.92 674.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.36 674.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.36 674.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 662.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 662.25 Td (.Expected amortization expense for the remaining period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.35 662.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.35 662.25 Td (, each of the fiscal years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.47 662.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.47 662.25 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.58 662.25 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.58 662.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 650.25 Td (for periods thereafter is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 626.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 626.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 626.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 596.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 596.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 596.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 566.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 566.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 566.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 536.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 536.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 536.75 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 626.75 m 484 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 626.75 m 563 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 626.75 m 563 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 536.75 m 563 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 536.75 m 563 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 522.75 m 563 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 520.75 m 563 520.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 630.98 Td (Y) Tj ET Q q 0 0 0 rg BT 57.39 630.98 Td (ears ending December) Tj ET Q q 0 0 0 rg BT 133.23 630.98 Td ( 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.95 630.98 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 616.42 Td (2016 \(remaining\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 616.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 616.42 Td (11,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 601.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 601.42 Td (34,882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 586.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 586.42 Td (19,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 571.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 571.42 Td (19,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 556.42 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 556.42 Td (18,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 541.42 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 541.42 Td (119,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 526.42 Td (Total definite life intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 526.42 Td (222,914) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 486.25 Td (\(7\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 486.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 86.87 486.25 Td (operty and Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 462.25 Td (Property and equipment, net, consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 436.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 436.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 436.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 406.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 406.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 406.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 406.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 376.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 376.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 376.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 376.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 346.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 346.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 346.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 346.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 316.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 316.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 316.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 316.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 286.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 286.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 286.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 256.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 256.75 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 436.75 m 484 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 436.75 m 563 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 436.75 m 484 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 436.75 m 563 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 286.75 m 484 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 286.75 m 563 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 256.75 m 484 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 256.75 m 563 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 256.75 m 484 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 242.75 m 484 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 240.75 m 484 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 256.75 m 563 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 242.75 m 563 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 240.75 m 563 240.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 441.42 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.60 440.98 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.75 440.98 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 426.42 Td (Satellite system) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 426.42 Td (1,845,173) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 426.42 Td (2,388,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 411.42 Td (Terrestrial repeater network) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 411.42 Td (125,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 411.42 Td (117,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 396.42 Td (Leasehold improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 396.42 Td (53,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 396.42 Td (49,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 381.42 Td (Broadcast studio equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 381.42 Td (80,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 381.42 Td (70,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 366.42 Td (Capitalized software and hardware) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 366.42 Td (503,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 366.42 Td (466,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 351.42 Td (Satellite telemetry, tracking and control facilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 351.42 Td (76,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 351.42 Td (75,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 336.42 Td (Furniture, fixtures, equipment and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 336.42 Td (81,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 336.42 Td (81,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 321.42 Td (Land) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 321.42 Td (38,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 321.42 Td (38,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 306.42 Td (Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 306.42 Td (60,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 306.42 Td (60,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 291.42 Td (Construction in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 291.42 Td (145,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 291.42 Td (101,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 276.42 Td (Total property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 276.42 Td (3,009,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 276.42 Td (3,449,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 261.42 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.80 261.47 Td (\(1,628,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 261.47 Td (\(2,034,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 246.42 Td (Property and equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 246.42 Td (1,381,114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 246.42 Td (1,415,401) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 218.25 Td (Construction in progress consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 192.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 192.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 192.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 192.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 162.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 162.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 162.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 162.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 132.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 132.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 132.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 132.75 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 192.75 m 484 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 192.75 m 563 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 192.75 m 484 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 192.75 m 563 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 132.75 m 484 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 132.75 m 563 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 132.75 m 484 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 118.75 m 484 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 116.75 m 484 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 132.75 m 563 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 118.75 m 563 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 116.75 m 563 116.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 197.42 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.60 196.98 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.75 196.98 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 182.42 Td (Satellite system) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 182.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 182.42 Td (19,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 182.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 182.42 Td (12,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 167.42 Td (Terrestrial repeater network) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 167.42 Td (692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 167.42 Td (25,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 152.42 Td (Capitalized software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 152.42 Td (101,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 152.42 Td (37,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 137.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 137.42 Td (23,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 137.42 Td (25,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 122.42 Td (Construction in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 122.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 122.42 Td (145,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 122.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 122.42 Td (101,324) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 94.25 Td (Depreciation expense on property and equipment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.93 94.25 Td ($55,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.43 94.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.87 94.25 Td ($57,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.37 94.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.74 94.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.73 94.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.55 94.25 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 82.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 82.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.94 82.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.94 82.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 161.60 82.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.54 82.25 Td ($165,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.04 82.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.48 82.25 Td ($163,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.98 82.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.35 82.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.57 82.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.40 82.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.66 82.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 82.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 82.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 70.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 70.25 Td (.) Tj ET Q q 0 0 0 rg BT 104.48 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 113.12 70.25 Td (e retired property and equipment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.51 70.25 Td ($583,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.01 70.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.45 70.25 Td ($12,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.95 70.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.77 70.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.99 70.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.81 70.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.08 70.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 58.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.44 58.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.44 58.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 139.10 58.25 Td (, which included approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.23 58.25 Td ($542,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.73 58.25 Td ( related to satellites during 2016. ) Tj ET Q q 0 0 0 rg BT 441.63 58.25 Td (W) Tj ET Q q 0 0 0 rg BT 450.27 58.25 Td (e recognized a loss on ) Tj ET Q endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (disposal of assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.27 704.10 Td ($12,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.77 704.10 Td (, which has been recorded in Satellite and transmission expense in our unaudited consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (statements of comprehensive income during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.33 692.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.55 692.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.38 692.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.64 692.10 Td (, which related to the disposal of certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (obsolete spare parts for a future satellite.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 656.10 Td (e capitalize a portion of the interest on funds borrowed to finance the construction and launch of our satellites and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (launch vehicles. Capitalized interest is recorded as part of the asset) Tj ET Q q 0 0 0 rg BT 319.68 644.10 Td (s cost and depreciated over the satellite) Tj ET Q q 0 0 0 rg BT 479.06 644.10 Td (s useful life. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Capitalized interest costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.85 632.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.83 632.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.27 632.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.49 632.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.31 632.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.58 632.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.13 632.10 Td ($107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.13 632.10 Td (, which related to the construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (of our SXM-7 and SXM-8 satellites.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 596.10 Td (Satellites) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 578.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.94 578.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.21 578.10 Td (, we owned a fleet of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.56 578.10 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.23 578.10 Td ( satellites, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.49 578.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.04 578.10 Td ( were operating.) Tj ET Q q 0 0 0 rg BT 445.55 578.10 Td (The chart below provides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.10 Td (certain information on our satellites as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.39 566.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.66 566.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 534.60 355.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 534.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 534.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 534.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 534.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 504.60 355.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 504.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 504.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 504.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 504.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 474.60 355.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 474.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 474.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 474.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 474.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 534.6 m 405 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 534.6 m 484 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 534.6 m 563 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 534.6 m 484 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 534.6 m 563 534.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 192.45 538.83 Td (Satellite Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.70 538.83 Td (Y) Tj ET Q q 0 0 0 rg BT 425.59 538.83 Td (ear) Tj ET Q q 0 0 0 rg BT 436.55 538.83 Td (Deliver) Tj ET Q q 0 0 0 rg BT 463.28 538.83 Td (ed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.20 546.83 Td (Estimated End of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.70 538.83 Td (Depr) Tj ET Q q 0 0 0 rg BT 513.88 538.83 Td (eciable Life) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 524.27 Td (SIRIUS FM-1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 524.27 Td (2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 524.27 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.27 Td (SIRIUS FM-5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 509.27 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 509.27 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 494.27 Td (SIRIUS FM-6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 494.27 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 494.27 Td (2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 479.27 Td (XM-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 479.27 Td (2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 479.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 464.27 Td (XM-4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 464.27 Td (2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 464.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 449.27 Td (XM-5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 449.27 Td (2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 449.27 Td (2025) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 434.30 Td (* Satellite was fully depreciated as of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.70 434.30 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.94 434.30 Td (. ) Tj ET Q q 0 0 0 rg BT 265.19 434.30 Td (As of ) Tj ET Q q 0 0 0 rg BT 286.69 434.30 Td (April 7, 2016, this satellite was no longer being used to transmit satellite ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 423.50 Td (radio. ) Tj ET Q q 0 0 0 rg BT 74.58 423.50 Td (W) Tj ET Q q 0 0 0 rg BT 82.35 423.50 Td (e plan to complete the deorbiting of this satellite during the fourth quarter of 2016.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 387.50 Td (\(8\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 387.50 Td (Related Party ) Tj ET Q q 0 0 0 rg BT 137.96 387.50 Td (T) Tj ET Q q 0 0 0 rg BT 143.89 387.50 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 363.50 Td (In the normal course of business, we enter into transactions with related parties.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 339.50 Td (Liberty Media) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 323.00 Td (As of September 30, 2016, Liberty Media beneficially owned, directly and indirectly) Tj ET Q q 0 0 0 rg BT 415.20 323.00 Td (, approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.46 323.00 Td (65%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.79 323.00 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.00 Td (outstanding shares of Holdings' common stock and has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.83 311.00 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.83 311.00 Td ( executives and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.97 311.00 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.41 311.00 Td ( of its directors on Holdings) Tj ET Q q 0 0 0 rg BT 479.93 311.00 Td ( board of directors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.00 Td (Gregory B. Maf) Tj ET Q q 0 0 0 rg BT 113.47 299.00 Td (fei, the President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 277.96 299.00 Td (ficer of Liberty Media, is the Chairman of Holdings) Tj ET Q q 0 0 0 rg BT 487.99 299.00 Td ( board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.00 Td (directors. ) Tj ET Q q 0 0 0 rg BT 91.80 287.00 Td (W) Tj ET Q q 0 0 0 rg BT 100.44 287.00 Td (e have not had any related party transactions with Liberty Media during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.51 287.00 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 287.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.93 287.00 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 287.00 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.00 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.76 275.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.20 275.00 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.20 275.00 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 251.00 Td (Sirius XM Holdings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 234.50 Td (Sirius XM is a wholly-owned subsidiary of Holdings. Holdings has no operations independent of Sirius XM. ) Tj ET Q q 0 0 0 rg BT 518.70 234.50 Td (All equity-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.50 Td (related transactions, including repurchases of Holdings' common stock and the issuance of equity related to stock-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.50 Td (compensation for Sirius XM employees, Holdings' directors and third parties have been reported as related party transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.50 Td (within Sirius XM's consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 267.76 198.50 Td (The stock-based compensation for Sirius XM employees, Holdings' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.50 Td (directors and third parties has been recorded in Sirius XM's unaudited consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 471.56 186.50 Td (The Related party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.50 Td (long-term assets balance as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.96 174.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.22 174.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.66 174.50 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.24 174.50 Td ( of Sirius XM includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 174.50 Td ($4,690,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.85 174.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.29 174.50 Td ($3,522,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.29 174.50 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 162.50 Td (, for net amounts due from Holdings in connection with these equity-related transactions, as well as for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.50 Td (conversion of the 7% Exchangeable Senior Subordinated Notes in December 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 126.50 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.05 126.50 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.26 126.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.09 126.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.35 126.50 Td (, Holdings' repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.13 126.50 Td ($1,214,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.13 126.50 Td ( of its common stock, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.50 Td (funded with our cash. ) Tj ET Q q 0 0 0 rg BT 140.96 114.50 Td (This amount is included in our Related party long-term asset balance as a receivable due from Holdings.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 90.50 Td (Sirius XM Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 74.00 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 74.00 Td (e hold an equity method investment in Sirius XM Canada.) Tj ET Q q 0 0 0 rg BT 322.70 74.00 Td (W) Tj ET Q q 0 0 0 rg BT 331.34 74.00 Td (e own approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.26 74.00 Td (47,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.76 74.00 Td ( of Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 536.30 74.00 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.00 Td (Class ) Tj ET Q q 0 0 0 rg BT 73.12 62.00 Td (A) Tj ET Q q 0 0 0 rg BT 79.79 62.00 Td ( shares on a converted basis, representing an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.48 62.00 Td (37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.81 62.00 Td ( equity interest and an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 62.00 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.43 62.00 Td ( voting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 50.00 Td (interest.) Tj ET Q q 0 0 0 rg BT 86.25 50.00 Td (W) Tj ET Q q 0 0 0 rg BT 94.89 50.00 Td (e primarily provide programming and content services to Sirius XM Canada and are reimbursed from Sirius XM ) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (Canada for certain product development costs, production and distribution of chipset radios, as well as for information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (technology and streaming support costs. Refer to Note 1 Business & Basis of Presentation for information on the pending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (transaction with Sirius XM Canada.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 656.10 Td (e had the following related party balances associated with Sirius XM Canada:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 630.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 630.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 630.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 630.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 600.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 600.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 600.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 600.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 630.6 m 483 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 630.6 m 562 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 630.6 m 483 630.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.60 634.83 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 634.83 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 620.27 Td (Related party current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 620.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 620.27 Td (5,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 620.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 620.27 Td (5,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 605.27 Td (Related party long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 605.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 605.27 Td (6,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 605.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 605.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 590.27 Td (Related party current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 590.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 590.27 Td (3,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 590.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 590.27 Td (2,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 575.27 Td (Related party long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 575.27 Td (8,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 575.27 Td (10,795) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 547.10 Td (Our related party current asset balances primarily consist of activation fees and streaming and chipset costs for which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 535.10 Td (are reimbursed. Our related party long-term asset balance as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.06 535.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.32 535.10 Td ( primarily included our investment balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 523.10 Td (in Sirius XM Canada. Our related party liabilities as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.89 523.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.16 523.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.60 523.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.18 523.10 Td ( included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.61 523.10 Td ($2,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.11 523.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 511.10 Td (current portion of deferred revenue and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.42 511.10 Td ($8,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.92 511.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.36 511.10 Td ($10,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 511.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 341.52 511.10 Td (, for the long-term portion of deferred revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 499.10 Td (recorded as of the Mer) Tj ET Q q 0 0 0 rg BT 139.83 499.10 Td (ger date related to agreements with XM Canada, now Sirius XM Canada.) Tj ET Q q 0 0 0 rg BT 437.63 499.10 Td (These costs are being ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 487.10 Td (amortized on a straight line basis through 2020.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 463.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 463.10 Td (e recorded the following revenue and other income associated with Sirius XM Canada in our unaudited consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 451.10 Td (statements of comprehensive income:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 404.60 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 404.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 404.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 404.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 404.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 374.60 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 374.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 374.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 374.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 374.60 63.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 419.6 m 360 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 419.6 m 364 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 419.6 m 430 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 419.6 m 495 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 419.6 m 499 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 419.6 m 562 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 419.6 m 360 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 404.6 m 360 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 419.6 m 430 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 404.6 m 430 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 419.6 m 495 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 404.6 m 495 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 419.6 m 499 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 404.6 m 499 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 419.6 m 562 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 404.6 m 562 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 404.6 m 360 404.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 424.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.20 432.28 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.60 424.28 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.75 432.28 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.10 424.28 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 411.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 318.00 410.28 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.50 410.28 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.00 410.28 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.00 410.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 394.27 Td (Revenue ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 88.99 398.80 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 394.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 394.27 Td (11,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.50 394.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 394.27 Td (17,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.50 394.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 394.27 Td (32,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 394.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 394.27 Td (44,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 379.27 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 379.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.50 379.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 364.27 Td (Share of net earnings ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 150.69 368.80 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 364.27 Td (1,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.50 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 364.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.50 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 364.27 Td (9,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 364.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 349.27 Td (Dividends ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 95.11 353.80 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 349.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.50 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 349.27 Td (3,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.50 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 349.27 Td (3,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 349.27 Td (8,880) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 328.30 Td (\(a\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 328.30 Td (Under our agreements with Sirius XM Canada, we currently receive a percentage-based royalty of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.61 328.30 Td (10%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.11 328.30 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.60 328.30 Td (15%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.10 328.30 Td ( for certain types of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 317.50 Td (subscription revenue earned by Sirius XM Canada for the Sirius and XM platforms, respectively; and additional royalties for premium ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 306.70 Td (services and royalties for activation fees and reimbursements for other char) Tj ET Q q 0 0 0 rg BT 347.23 306.70 Td (ges.) Tj ET Q q 0 0 0 rg BT 365.81 306.70 Td (W) Tj ET Q q 0 0 0 rg BT 373.59 306.70 Td (e record revenue from Sirius XM Canada as Other ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 295.90 Td (revenue in our unaudited consolidated statements of comprehensive income.) Tj ET Q q 0 0 0 rg BT 356.00 295.90 Td (The current license and services agreement entered into ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 285.10 Td (with Sirius Canada will expire in ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 197.48 285.10 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.48 285.10 Td (.) Tj ET Q q 0 0 0 rg BT 222.07 285.10 Td (The current license agreement entered into with XM Canada will expire in ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.47 285.10 Td (2020) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.47 285.10 Td (.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 274.30 Td (\(b\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 274.30 Td (W) Tj ET Q q 0 0 0 rg BT 84.27 274.30 Td (e recognize our proportionate share of earnings or losses of Sirius XM Canada as they occur as a component of Other income in our ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 263.50 Td (unaudited consolidated statements of comprehensive income on a one month lag.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 252.70 Td (\(c\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 252.70 Td (Pursuant to the ) Tj ET Q q 0 0 0 rg BT 132.25 252.70 Td (Arrangement ) Tj ET Q q 0 0 0 rg BT 181.48 252.70 Td (Agreement, Sirius XM Canada did not pay any dividends during the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.44 252.70 Td (three) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.42 252.70 Td ( months ended ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 502.17 252.70 Td (September30, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 241.90 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 94.50 241.90 Td (. Sirius XM Canada paid gross dividends to us of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 275.99 241.90 Td ($3,891) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.74 241.90 Td ( during the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 341.98 241.90 Td (three) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.97 241.90 Td ( months ended ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.71 241.90 Td (September30, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.95 241.90 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.44 241.90 Td ($7,548) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.19 241.90 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 231.10 Td ($1) Tj ET Q q 0 0 0 rg BT 85.17 231.10 Td (1,881) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 105.42 231.10 Td ( during the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 146.66 231.10 Td (nine) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 162.15 231.10 Td ( months ended ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 216.90 231.10 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 289.13 231.10 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.63 231.10 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 324.63 231.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 372.02 231.10 Td (.) Tj ET Q q 0 0 0 rg BT 378.61 231.10 Td (These dividends were first recorded as a reduction ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 220.30 Td (to our investment balance in Sirius XM Canada to the extent a balance existed and then as Other income for the remaining portion.) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (\(9\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 704.25 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 680.25 Td (Our debt as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.93 680.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.19 680.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.63 680.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.21 680.25 Td ( consisted of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 624.75 40.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 90.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.00 624.75 46.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 140.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 144.00 624.75 76.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 624.75 48.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 624.75 62.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 624.75 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 624.75 74.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 624.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 624.75 71.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 566.75 40.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 90.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.00 566.75 46.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 140.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 144.00 566.75 76.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 566.75 48.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 566.75 62.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 566.75 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 566.75 74.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 566.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 566.75 71.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 508.75 40.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 90.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.00 508.75 46.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 140.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 144.00 508.75 76.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 508.75 48.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 508.75 62.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 508.75 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 508.75 74.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 508.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 508.75 71.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 450.75 40.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 90.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.00 450.75 46.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 140.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 144.00 450.75 76.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 450.75 48.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 450.75 62.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 450.75 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 450.75 74.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 450.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 450.75 71.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 384.75 40.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 90.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.00 384.75 46.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 140.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 144.00 384.75 76.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 384.75 48.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 384.75 62.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 384.75 68.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 384.75 74.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 384.75 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 384.75 71.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 334.75 360.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 334.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 334.75 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 334.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 334.75 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 308.75 360.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 308.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 308.75 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 308.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 308.75 71.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 653.75 m 488 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 653.75 m 492 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 653.75 m 563 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 624.75 m 90 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 94 624.75 m 140 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144 624.75 m 220 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 624.75 m 272 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 624.75 m 338 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 624.75 m 410 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 624.75 m 488 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 624.75 m 563 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 624.75 m 90 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 334.75 m 488 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 334.75 m 563 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 295.75 m 488 295.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 283.75 m 488 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 281.75 m 488 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 295.75 m 563 295.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 283.75 m 563 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 281.75 m 563 281.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 657.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 96.50 657.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 146.50 657.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.50 657.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.50 657.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.50 657.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.75 657.98 Td (Carrying value) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 506.52 661.61 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.59 657.98 Td ( at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 636.98 Td (Issuer) Tj ET Q q 0 0 0 rg BT 77.75 636.98 Td ( / ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.95 628.98 Td (Borr) Tj ET Q q 0 0 0 rg BT 69.24 628.98 Td (ower) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 105.60 628.98 Td (Issued) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 173.25 628.98 Td (Debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.90 636.98 Td (Maturity ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.50 628.98 Td (Date) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.65 628.98 Td (Inter) Tj ET Q q 0 0 0 rg BT 295.83 628.98 Td (est Payable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.90 644.98 Td (Principal Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.80 636.98 Td (at September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.50 628.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.10 628.98 Td (September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.75 628.98 Td (December 31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 616.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 608.70 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 616.70 Td (May 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 616.70 Td (4.25%SeniorNotes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 608.70 Td (\(the"4.25%Notes"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 616.70 Td (May 15,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 608.70 Td (2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 616.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 608.70 Td (May15and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 600.70 Td (November 15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.50 616.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 616.70 Td (500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.50 616.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 616.70 Td (496,869) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.50 616.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 616.70 Td (496,282) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 587.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 579.70 Td (\(b\)\(f\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 587.70 Td (September ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 579.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 587.70 Td (5.875%SeniorNotes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 579.70 Td (\(the"5.875%Notes"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 587.70 Td (October 1,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 579.70 Td (2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 587.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 579.70 Td (April1and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 571.70 Td (October1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 587.70 Td (650,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 587.70 Td (645,456) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 587.70 Td (644,720) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 558.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 550.70 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 558.70 Td (August ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 550.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 558.70 Td (5.75%SeniorNotes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 550.70 Td (\(the"5.75%Notes"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 558.70 Td (August 1,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 550.70 Td (2021) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 558.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 550.70 Td (February1 and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 542.70 Td (August1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 558.70 Td (600,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 558.70 Td (596,216) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 558.70 Td (595,720) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 529.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 521.70 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 529.70 Td (May 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 529.70 Td (4.625% Senior Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 521.70 Td (\(the "4.625% Notes"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 529.70 Td (May 15,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 521.70 Td (2023) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 529.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 521.70 Td (May15and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 513.70 Td (November15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 529.70 Td (500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 529.70 Td (495,982) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 529.70 Td (495,602) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 500.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 492.70 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 500.70 Td (May 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 500.70 Td (6.00% Senior Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 492.70 Td (\(the "6.00% Notes"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 500.70 Td (July 15,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 492.70 Td (2024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 500.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 492.70 Td (January15 and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 484.70 Td (July15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.80 500.70 Td (1,500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 500.70 Td (1,486,208) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.80 500.70 Td (1,485,196) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 471.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 463.70 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 471.70 Td (March 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 471.70 Td (5.375% Senior Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 463.70 Td (\(the "5.375% Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 455.70 Td (due 2025"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 471.70 Td (April 15,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 463.70 Td (2025) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 471.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 463.70 Td (April15and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 455.70 Td (October15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.80 471.70 Td (1,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 471.70 Td (990,112) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 471.70 Td (989,446) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 442.70 Td (Sirius XM) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 434.70 Td (\(b\)\(c\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 442.70 Td (May 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 442.70 Td (5.375% Senior Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 434.70 Td (\(the "5.375% Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 426.70 Td (due 2026"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 442.70 Td (July 15,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 434.70 Td (2026) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 442.70 Td (semi-annually on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 434.70 Td (January 15and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 426.70 Td (July15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.80 442.70 Td (1,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 442.70 Td (989,047) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 442.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 413.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 405.70 Td (\(b\)\(d\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 413.70 Td (August ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 405.70 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 413.70 Td (5.25%SeniorSecured ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 405.70 Td (Notes \(the "5.25% ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 397.70 Td (Notes"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 413.70 Td (August 15,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 405.70 Td (2022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 413.70 Td (semi-annually on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 405.70 Td (February15 and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 397.70 Td (August15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 413.70 Td (400,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 413.70 Td (396,090) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 413.70 Td (395,675) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 376.70 Td (Sirius XM ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 368.70 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 376.70 Td (December ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 368.70 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 376.70 Td (Senior Secured ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 368.70 Td (Revolving Credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 360.70 Td (Facility \(the "Credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 352.70 Td (Facility"\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 376.70 Td (June 16,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 368.70 Td (2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 376.70 Td (variable fee paid ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 368.70 Td (quarterly) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.80 376.70 Td (1,750,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 376.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 376.70 Td (340,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 339.70 Td (Sirius XM) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.50 339.70 Td (V) Tj ET Q q 0 0 0 rg BT 101.39 339.70 Td (arious) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 339.70 Td (Capital leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 339.70 Td (V) Tj ET Q q 0 0 0 rg BT 231.39 339.70 Td (arious) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.50 339.70 Td ( n/a) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.70 339.70 Td ( n/a) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.80 339.70 Td (14,192) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.80 339.70 Td (12,892) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 326.70 Td (T) Tj ET Q q 0 0 0 rg BT 56.83 326.70 Td (otal Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 326.70 Td (6,110,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.80 326.70 Td (5,455,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 313.70 Td (Less: total current maturities \(f\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 313.70 Td (358,701) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.80 313.70 Td (4,764) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 300.70 Td (Less: total deferred financing costs for Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 300.70 Td (8,082) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.80 300.70 Td (7,155) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 287.70 Td (T) Tj ET Q q 0 0 0 rg BT 56.83 287.70 Td (otal long-term debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.50 287.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 287.70 Td (5,743,389) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.50 287.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.80 287.70 Td (5,443,614) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 266.45 Td (\(a\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 266.45 Td (The carrying value of the obligations is net of any remaining unamortized original issue discount.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 255.65 Td (\(b\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 255.65 Td (Substantially all of our domestic wholly-owned subsidiaries have guaranteed these notes.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 244.85 Td (\(c\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 244.85 Td (In May 2016, we issued $1,000,000 aggregate principal amount of 5.375% Senior Notes due 2026, with an original issuance discount ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 234.05 Td (of $1) Tj ET Q q 0 0 0 rg BT 94.91 234.05 Td (1,250.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 223.25 Td (\(d\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 223.25 Td (The liens securing the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 157.97 223.25 Td (5.25%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.22 223.25 Td ( Notes are equal and ratable to the liens granted to secure the Credit Facility) Tj ET Q q 0 0 0 rg BT 454.04 223.25 Td (.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 212.45 Td (\(e\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 212.45 Td (Our obligations under the Credit Facility are guaranteed by certain of our material domestic subsidiaries and are secured by a lien on ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 201.65 Td (substantially all of our assets and the assets of its material domestic subsidiaries.Interest on borrowings is payable on a monthly basis ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 190.85 Td (and accrues at a rate based on LIBOR plus an applicable rate.) Tj ET Q q 0 0 0 rg BT 302.24 190.85 Td (W) Tj ET Q q 0 0 0 rg BT 310.02 190.85 Td (e are also required to pay a variable fee on the average daily unused ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 180.05 Td (portion of the Credit Facility which is payable on a quarterly basis.) Tj ET Q q 0 0 0 rg BT 321.78 180.05 Td (The variable rate for the unused portion of the Credit Facility was ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 169.25 Td (0.25%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 99.75 169.25 Td ( per annum as of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.98 169.25 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.22 169.25 Td (. Our outstanding borrowings under the Credit Facility are classified as Long-term debt ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 158.45 Td (within our unaudited consolidated balance sheets due to the long-term maturity of this debt. For a discussion of subsequent events ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 147.65 Td (refer to Note 14.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 136.85 Td (\(f\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 136.85 Td (On ) Tj ET Q q 0 0 0 rg BT 89.25 136.85 Td (August 25, 2016, we called for the redemption of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.96 136.85 Td ($650,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 302.71 136.85 Td ( outstanding principal balance of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.17 136.85 Td (5.875%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.91 136.85 Td ( Notes on October 1, 2016. ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 126.05 Td (As of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 98.50 126.05 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 170.74 126.05 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.24 126.05 Td ($353,965) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.99 126.05 Td ( of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.23 126.05 Td (5.875%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 261.98 126.05 Td ( Notes, which is net of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.21 126.05 Td ($5,132) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.96 126.05 Td ( of original issue discount and deferred financing ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 115.25 Td (costs, was classified as current maturities of long-term debt and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.68 115.25 Td ($290,903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 341.43 115.25 Td ( of principal amount was classified as long-term debt within ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 104.45 Td (our unaudited consolidated balance sheets. For a discussion of subsequent events refer to Note 14.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 80.45 Td (Covenants and Restrictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 62.45 Td (Under the Credit Facility) Tj ET Q q 0 0 0 rg BT 177.10 62.45 Td (, we must comply with a debt maintenance covenant that it not exceed a total leverage ratio, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 50.45 Td (calculated as consolidated total debt to consolidated operating cash flow) Tj ET Q q 0 0 0 rg BT 337.92 50.45 Td (, of 5.0 to 1.0.) Tj ET Q q 0 0 0 rg BT 398.85 50.45 Td (The Credit Facility generally requires ) Tj ET Q endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (compliance with certain covenants that restrict our ability to, among other things, \(i\)incur additional indebtedness, \(ii\)incur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (liens, \(iii\)pay dividends or make certain other restricted payments, investments or acquisitions, \(iv\)enter into certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (transactions with af) Tj ET Q q 0 0 0 rg BT 127.63 680.10 Td (filiates, \(v\)mer) Tj ET Q q 0 0 0 rg BT 189.37 680.10 Td (ge or consolidate with another person, \(vi\)sell, assign, lease or otherwise dispose of all or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (substantially all of our assets, and \(vii\)make voluntary prepayments of certain debt, in each case subject to exceptions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 644.10 Td (The indentures governing our notes restrict our non-guarantor subsidiaries' ability to create, assume, incur or guarantee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (additional indebtedness without such non-guarantor subsidiary guaranteeing each such series of notes on a pari passu ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (basis.) Tj ET Q q 0 0 0 rg BT 76.82 620.10 Td (The indentures governing the notes also contain covenants that, among other things, limit our ability and the ability of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (subsidiaries to create certain liens; enter into sale/leaseback transactions; and mer) Tj ET Q q 0 0 0 rg BT 375.30 608.10 Td (ge or consolidate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 584.10 Td (Under our debt agreements, the following generally constitute an event of default: \(i\)a default in the payment of interest; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (\(ii\)a default in the payment of principal; \(iii\)failure to comply with covenants; \(iv\)failure to pay other indebtedness after final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (maturity or acceleration of other indebtedness exceeding a specified amount; \(v\)certain events of bankruptcy; \(vi\)a judgment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (for payment of money exceeding a specified aggregate amount; and \(vii\)voidance of subsidiary guarantees, subject to grace ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (periods where applicable.If an event of default occurs and is continuing, our debt could become immediately due and payable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 512.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 512.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.26 512.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.70 512.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.29 512.10 Td (, we were in compliance with our debt covenants.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (\(10\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 476.10 Td (Stockholder) Tj ET Q q 0 0 0 rg BT 127.99 476.10 Td ( Equity) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 452.10 Td (Common Stock, par value ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 176.67 452.10 Td ($0.001) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 204.17 452.10 Td ( per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 435.60 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 435.60 Td (e are authorized to issue up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.04 435.60 Td (9,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.04 435.60 Td ( shares of common stock. ) Tj ET Q q 0 0 0 rg BT 353.41 435.60 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.86 435.60 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.12 435.60 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.56 435.60 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.14 435.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 423.60 Td (there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.91 423.60 Td (one thousand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.96 423.60 Td ( shares of common stock of Sirius XM issued and outstanding, which was owned by Holdings.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 399.60 Td (Preferred Stock, par value ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 178.32 399.60 Td ($0.001) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 205.82 399.60 Td ( per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 383.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 383.10 Td (e are authorized to issue up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.04 383.10 Td (50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.54 383.10 Td ( shares of undesignated preferred stock with a liquidation preference of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.93 383.10 Td ($0.001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.43 383.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (per share. ) Tj ET Q q 0 0 0 rg BT 93.19 371.10 Td (There were no shares of preferred stock issued or outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 371.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.91 371.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.35 371.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.94 371.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 335.10 Td (\(1) Tj ET Q q 0 0 0 rg BT 57.28 335.10 Td (1\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 335.10 Td (Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 317.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 317.10 Td (e recognized share-based payment expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.61 317.10 Td ($30,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.11 317.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.54 317.10 Td ($23,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.04 317.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.42 317.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.41 317.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.23 317.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.50 317.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.44 305.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.44 305.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 139.10 305.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.04 305.10 Td ($77,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.54 305.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.98 305.10 Td ($62,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.48 305.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.85 305.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.07 305.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.90 305.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.16 305.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 305.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 305.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 527.26 305.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 281.10 Td (2015 Long-T) Tj ET Q q 0 0 0 rg BT 120.19 281.10 Td (erm Stock Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 263.10 Td (In May 2015, Holdings) Tj ET Q q 0 0 0 rg BT 172.42 263.10 Td ( stockholders approved the Sirius XM Holdings Inc. 2015 Long-T) Tj ET Q q 0 0 0 rg BT 436.13 263.10 Td (erm Stock Incentive Plan \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (2015 Plan\). Employees, consultants and members of Holdings) Tj ET Q q 0 0 0 rg BT 312.60 251.10 Td ( board of directors are eligible to receive awards under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (2015 Plan. ) Tj ET Q q 0 0 0 rg BT 97.10 239.10 Td (The 2015 Plan provides for the grant of stock options, restricted stock awards, restricted stock units and other stock-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (based awards that the compensation committee of Holdings) Tj ET Q q 0 0 0 rg BT 290.64 227.10 Td ( board of directors deem appropriate. Stock-based awards granted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 215.10 Td (under the 2015 Plan are generally subject to a graded vesting requirement, which is generally three to four years from the grant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.10 Td (date, and may include performance requirements. Stock options generally expire ten years from the date of grant. Each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (restricted stock unit entitles the holder to receive one share of common stock upon vesting. ) Tj ET Q q 0 0 0 rg BT 417.46 191.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.90 191.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.17 191.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.17 191.10 Td (181,71) Tj ET Q q 0 0 0 rg BT 554.29 191.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.29 191.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (shares of Holdings' common stock were available for future grants under the 2015 Plan.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 155.10 Td (Other Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 137.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 137.10 Td (e maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.57 137.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.23 137.10 Td ( other share-based benefit plans the Sirius XM Radio Inc. 2009 Long-T) Tj ET Q q 0 0 0 rg BT 443.52 137.10 Td (erm Stock Incentive Plan, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (XM 2007 Stock Incentive Plan, the ) Tj ET Q q 0 0 0 rg BT 192.54 125.10 Td (Amended and Restated Sirius Satellite Radio 2003 Long-T) Tj ET Q q 0 0 0 rg BT 427.63 125.10 Td (erm Stock Incentive Plan and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (XM 1998 Shares ) Tj ET Q q 0 0 0 rg BT 119.22 113.10 Td (A) Tj ET Q q 0 0 0 rg BT 125.53 113.10 Td (ward Plan. No further awards may be made under these plans.) Tj ET Q endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 704.10 Td (The following table summarizes the weighted-average assumptions used to compute the fair value of options granted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (employees and members of Holdings' board of directors:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 647.60 233.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 647.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 647.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 647.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 647.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 617.60 233.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 617.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 617.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 617.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 617.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 660.6 m 349 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 660.6 m 353 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 660.6 m 420 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 660.6 m 491 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 660.6 m 495 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 660.6 m 562 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 647.6 m 349 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 647.6 m 353 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 647.6 m 420 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 647.6 m 491 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 647.6 m 495 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 647.6 m 562 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 647.6 m 349 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 647.6 m 353 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 647.6 m 420 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 647.6 m 491 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 647.6 m 495 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 647.6 m 562 647.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 664.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.70 672.83 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.10 664.83 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.75 672.83 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.10 664.83 Td (September 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 651.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.00 651.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.00 651.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.00 651.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.00 651.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 638.17 Td (Risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.55 637.27 Td (1.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.55 637.27 Td (1.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.55 637.27 Td (1.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.55 637.27 Td (1.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 623.17 Td (Expected life of options years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.25 622.27 Td (4.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.25 622.27 Td (4.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.25 622.27 Td (4.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.25 622.27 Td (4.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 608.17 Td (Expected stock price volatility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.80 607.27 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.80 607.27 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 607.27 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.80 607.27 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 593.17 Td (Expected dividend yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.30 592.27 Td (0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.30 592.27 Td (0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 592.27 Td (0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.30 592.27 Td (0%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 570.10 Td (There were no options granted to third parties during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.32 570.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.96 570.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.79 570.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.05 570.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 558.10 Td (.Since Holdings has not historically paid dividends on its common stock, the dividend yield used in the Black-Scholes-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.10 Td (Merton option value was zero for all periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 522.10 Td (The following table summarizes stock option activity under our share-based plans for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.57 522.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.78 522.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.76 510.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 454.60 257.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 454.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 454.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 454.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 454.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 454.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 454.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 454.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 424.60 257.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 424.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 424.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 424.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 424.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 424.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 424.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 424.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 394.60 257.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 394.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 394.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 394.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 394.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 394.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 394.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 394.60 61.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 454.6 m 368 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 454.6 m 433 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 454.6 m 498 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 454.6 m 563 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 394.6 m 368 394.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 380.6 m 368 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 378.6 m 368 378.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 459.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.40 458.83 Td (Options) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.40 482.83 Td (W) Tj ET Q q 0 0 0 rg BT 391.96 482.83 Td (eighted-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.05 474.83 Td (A) Tj ET Q q 0 0 0 rg BT 393.23 474.83 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.60 466.83 Td (Exer) Tj ET Q q 0 0 0 rg BT 403.89 466.83 Td (cise) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.25 458.83 Td (Price Per) Tj ET Q q 0 0 0 rg BT 406.86 458.83 Td ( Shar) Tj ET Q q 0 0 0 rg BT 425.16 458.83 Td (e) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.40 490.83 Td (W) Tj ET Q q 0 0 0 rg BT 456.96 490.83 Td (eighted-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.05 482.83 Td (A) Tj ET Q q 0 0 0 rg BT 458.23 482.83 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.30 474.83 Td (Remaining) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.30 466.83 Td (Contractual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.55 458.83 Td (T) Tj ET Q q 0 0 0 rg BT 449.15 458.83 Td (erm \(Y) Tj ET Q q 0 0 0 rg BT 472.47 458.83 Td (ears\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 474.83 Td (Aggr) Tj ET Q q 0 0 0 rg BT 531.68 474.83 Td (egate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.30 466.83 Td (Intrinsic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.35 458.83 Td (V) Tj ET Q q 0 0 0 rg BT 527.39 458.83 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 444.27 Td (Outstanding as of December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 444.27 Td (338,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 444.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 444.27 Td (3.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 430.17 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 429.27 Td (53,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 429.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 429.27 Td (4.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 415.17 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.30 414.32 Td (\(36,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 414.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 414.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 414.27 Td (2.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 400.17 Td (Forfeited, cancelled or expired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.30 399.32 Td (\(9,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 399.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 399.27 Td (4.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 385.17 Td (Outstanding as of September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 384.27 Td (345,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 384.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 384.27 Td (3.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 384.27 Td (7.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 384.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 384.27 Td (244,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 370.17 Td (Exercisable as of September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 369.27 Td (137,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 369.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 369.27 Td (2.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 369.27 Td (6.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 369.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 369.27 Td (188,511) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 347.10 Td (The weighted average grant date fair value per share of options granted during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.48 347.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.69 347.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.52 347.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 335.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 335.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.05 335.10 Td ($0.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.55 335.10 Td (.) Tj ET Q q 0 0 0 rg BT 119.87 335.10 Td (The total intrinsic value of stock options exercised during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.59 335.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.80 335.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.63 335.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.89 335.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 323.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 323.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.05 323.10 Td ($59,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.55 323.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.99 323.10 Td ($85,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.49 323.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 227.15 323.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 299.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 299.10 Td (e recognized share-based payment expense associated with stock options of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.04 299.10 Td ($21,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.54 299.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.97 299.10 Td ($19,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.47 299.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.85 299.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.84 299.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.88 287.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.14 287.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.58 287.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.58 287.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 248.24 287.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.18 287.10 Td ($59,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.68 287.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.12 287.10 Td ($52,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.62 287.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.99 287.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.21 287.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.04 287.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 287.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 275.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.16 275.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 251.10 Td (The following table summarizes the restricted stock unit, including performance-based restricted stock units \("PRSUs"\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (and stock award activity under our share-based plans for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.75 239.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.96 239.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.79 239.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.05 239.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 48.00 199.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 199.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 199.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.00 169.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 169.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 169.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 169.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.00 139.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 139.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 139.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 139.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 199.60000000000002 m 482 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 199.60000000000002 m 561 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 199.60000000000002 m 482 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 139.60000000000002 m 482 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 125.60000000000002 m 482 125.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 123.60000000000002 m 482 123.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.50 204.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 203.83 Td (Shar) Tj ET Q q 0 0 0 rg BT 448.80 203.83 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.55 219.83 Td (Grant Date) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.15 211.83 Td (Fair) Tj ET Q q 0 0 0 rg BT 519.67 211.83 Td ( ) Tj ET Q q 0 0 0 rg BT 521.52 211.83 Td (V) Tj ET Q q 0 0 0 rg BT 526.56 211.83 Td (alue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.15 203.83 Td (Per) Tj ET Q q 0 0 0 rg BT 517.99 203.83 Td ( Shar) Tj ET Q q 0 0 0 rg BT 536.30 203.83 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.50 189.27 Td (Nonvested as of December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 189.27 Td (16,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 189.27 Td (3.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.50 174.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 174.27 Td (17,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 174.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 174.27 Td (4.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.50 159.27 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.30 159.32 Td (\(4,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 159.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 159.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 159.27 Td (3.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.50 144.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.80 144.32 Td (\(456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 144.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 144.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 144.27 Td (3.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.50 129.27 Td (Nonvested as of September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 129.27 Td (29,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 129.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 129.27 Td (4.02) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 107.10 Td (The total intrinsic value of restricted stock units and stock awards vesting during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.42 107.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.63 107.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.46 107.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 95.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.94 95.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.94 95.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.49 95.10 Td ($16,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.99 95.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.43 95.10 Td ($9,565) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.93 95.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 261.59 95.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 71.10 Td (On ) Tj ET Q q 0 0 0 rg BT 91.67 71.10 Td (August 5, 2016, we granted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.71 71.10 Td (3,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.21 71.10 Td ( PRSUs to certain employees, the vesting of which is subject to the employee's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.10 Td (continuing employment and Holdings' achievement of certain performance goals. ) Tj ET Q q 0 0 0 rg BT 380.18 59.10 Td (The awards clif) Tj ET Q q 0 0 0 rg BT 442.20 59.10 Td (f vest on the three-year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 47.10 Td (anniversary of the grant date. ) Tj ET Q q 0 0 0 rg BT 171.21 47.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.85 47.10 Td (e believe it is probable that the performance tar) Tj ET Q q 0 0 0 rg BT 368.47 47.10 Td (get applicable to these PRSUs will be achieved.) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 704.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 704.10 Td (e recognized share-based payment expense associated with restricted stock units and stock awards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.10 704.10 Td ($8,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.60 704.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td ($3,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 692.10 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.83 692.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.81 692.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.64 692.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.90 692.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.34 692.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.34 692.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 376.00 692.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.94 692.10 Td ($18,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.44 692.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.88 692.10 Td ($9,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.38 692.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.75 692.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.97 692.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.88 680.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.14 680.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.58 680.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.58 680.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 248.24 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 255.56 680.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.61 680.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.59 680.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.42 680.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.68 680.10 Td ( included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.11 680.10 Td ($669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.11 680.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (compensation expense related to PRSUs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 644.10 Td (T) Tj ET Q q 0 0 0 rg BT 82.91 644.10 Td (otal unrecognized compensation costs related to unvested share-based payment awards for stock options and restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (stock units granted to employees, members of Holdings' board of directors and third parties at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.32 632.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.59 632.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 620.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.51 620.10 Td ($281,678) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.01 620.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.45 620.10 Td ($261,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.95 620.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 299.61 620.10 Td (.) Tj ET Q q 0 0 0 rg BT 306.93 620.10 Td (The total unrecognized compensation costs at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.87 620.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 608.10 Td ( are expected to be recognized over a weighted-average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.97 608.10 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.47 608.10 Td ( years.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 578.10 Td (401\(k\) Savings Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 560.10 Td (Sirius XM sponsors the Sirius XM Radio Inc. 401\(k\) Savings Plan \(the Sirius XM Plan\) for eligible employees. ) Tj ET Q q 0 0 0 rg BT 535.61 560.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (Sirius XM Plan allows eligible employees to voluntarily contribute from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.23 548.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.56 548.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.34 548.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.67 548.10 Td ( of their pre-tax eligible earnings, subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (certain defined limits. ) Tj ET Q q 0 0 0 rg BT 139.29 536.10 Td (W) Tj ET Q q 0 0 0 rg BT 147.93 536.10 Td (e match ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.80 536.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.13 536.10 Td ( of an employee) Tj ET Q q 0 0 0 rg BT 267.05 536.10 Td (s voluntary contributions per pay period on the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.62 536.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.95 536.10 Td ( of an employee) Tj ET Q q 0 0 0 rg BT 555.87 536.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (pre-tax salary up to a maximum of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.29 524.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.62 524.10 Td ( of eligible compensation.) Tj ET Q q 0 0 0 rg BT 312.30 524.10 Td (W) Tj ET Q q 0 0 0 rg BT 320.94 524.10 Td (e may also make additional discretionary matching, true-up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (matching and non-elective contributions to the Sirius XM Plan.Employer matching contributions under the Sirius XM Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (vest at a rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.08 500.10 Td (33.33%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.91 500.10 Td ( for each year of employment and are fully vested after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.31 500.10 Td (three years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.89 500.10 Td ( of employment for all current and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (future contributions.Our cash employer matching contributions are not used to purchase shares of Holdings' common stock on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (the open market, unless the employee elects Holdings' common stock as their investment option for this contribution.) Tj ET Q q 0 0 0 rg BT 523.25 476.10 Td (W) Tj ET Q q 0 0 0 rg BT 531.89 476.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.86 464.10 Td ($1,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.36 464.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.80 464.10 Td ($1,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.30 464.10 Td ( in expense during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.11 464.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.10 464.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.92 464.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.19 464.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.62 464.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.62 464.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 514.29 464.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td ($4,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 452.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.44 452.10 Td ($6,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.94 452.10 Td ( in expense during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.03 452.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.25 452.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.07 452.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.34 452.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.78 452.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.78 452.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 450.44 452.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 422.10 Td (Sirius XM Holdings Inc. Deferred Compensation Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 404.10 Td (In 2015, Holdings' adopted the Sirius XM Holdings Inc. Deferred Compensation Plan \(the DCP\). ) Tj ET Q q 0 0 0 rg BT 480.17 404.10 Td (The DCP) Tj ET Q q 0 0 0 rg BT 517.30 404.10 Td ( allows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (members of Holdings' board of directors and certain eligible employees to defer all or a portion of their base salary) Tj ET Q q 0 0 0 rg BT 508.55 392.10 Td (, cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (incentive compensation and/or board of directors) Tj ET Q q 0 0 0 rg BT 248.41 380.10 Td ( compensation, as applicable, each plan year starting in 2016. Pursuant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (terms of the DCP) Tj ET Q q 0 0 0 rg BT 118.11 368.10 Td (, Holdings or any of its subsidiaries may elect to make additional contributions beyond amounts deferred by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (participants, but is under no obligation to do so. Holdings has established a grantor \(or rabbi\) trust to facilitate the payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (of its obligations under the DCP) Tj ET Q q 0 0 0 rg BT 177.55 344.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 320.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.94 320.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.21 320.10 Td (, the fair value of the investments in the trust was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.60 320.10 Td ($4,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.10 320.10 Td (, which is included in Other long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (assets in our unaudited consolidated balance sheets and is classified as trading securities. ) Tj ET Q q 0 0 0 rg BT 409.50 308.10 Td (T) Tj ET Q q 0 0 0 rg BT 415.25 308.10 Td (rading gains and losses associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (with the trust are recorded in Other income within our unaudited consolidated statements of comprehensive income. ) Tj ET Q q 0 0 0 rg BT 518.63 296.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (associated liability is recorded within Other long-term liabilities in our unaudited consolidated balance sheets, and any increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (or decrease in the liability is recorded in General and administration expense within our unaudited consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (comprehensive income. ) Tj ET Q endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (\(12\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 704.25 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 686.25 Td (The following table summarizes our expected contractual cash commitments as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.78 686.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.04 686.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 663.75 119.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 663.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 663.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 663.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 663.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 663.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 663.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 663.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 663.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 635.75 119.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 635.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 635.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 635.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 635.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 635.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 635.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 635.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 635.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 607.75 119.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 607.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 607.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 607.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 607.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 607.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 607.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 607.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 607.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 579.75 119.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 579.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 579.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 579.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 579.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 579.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 579.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 579.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 551.75 119.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 551.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 551.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 551.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 551.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 551.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 551.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 551.75 55.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 663.75 m 222 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 663.75 m 279 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 663.75 m 336 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 663.75 m 390 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 663.75 m 447 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 663.75 m 504 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 663.75 m 563 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 663.75 m 222 663.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 551.75 m 222 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 551.75 m 279 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 551.75 m 336 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 551.75 m 390 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 551.75 m 447 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 551.75 m 504 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 551.75 m 563 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 538.75 m 222 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 536.75 m 222 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 538.75 m 279 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 536.75 m 279 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 538.75 m 336 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 536.75 m 336 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 538.75 m 390 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 536.75 m 390 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 538.75 m 447 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 536.75 m 447 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 538.75 m 504 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 536.75 m 504 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 538.75 m 563 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 536.75 m 563 536.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 667.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.00 667.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.00 667.83 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.50 667.83 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.00 667.83 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.70 667.83 Td (Ther) Tj ET Q q 0 0 0 rg BT 475.44 667.83 Td (eafter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.25 667.83 Td (T) Tj ET Q q 0 0 0 rg BT 530.85 667.83 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 654.32 Td (Debt obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.60 654.32 Td (359,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.65 654.32 Td (5,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 654.32 Td (4,477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 654.32 Td (3,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.60 654.32 Td (791,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 654.32 Td (5,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 654.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 654.32 Td (6,164,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 640.32 Td (Cash interest payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.65 640.32 Td (69,363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.60 640.32 Td (348,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 640.32 Td (340,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.60 640.32 Td (340,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.60 640.32 Td (328,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 640.32 Td (1,058,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 640.32 Td (2,484,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 626.32 Td (Satellite and transmission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.65 626.32 Td (29,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 626.32 Td (94,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 626.32 Td (68,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 626.32 Td (51,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 626.32 Td (25,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 626.32 Td (24,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 626.32 Td (294,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 612.32 Td (Programming and content) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.65 612.32 Td (58,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.60 612.32 Td (302,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 612.32 Td (279,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.60 612.32 Td (260,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.60 612.32 Td (222,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.60 612.32 Td (356,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 612.32 Td (1,480,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 598.32 Td (Marketing and distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.65 598.32 Td (9,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 598.32 Td (17,304) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 598.32 Td (15,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 598.32 Td (12,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 598.32 Td (7,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 598.32 Td (7,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 598.32 Td (70,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.32 Td (Satellite incentive payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.65 584.32 Td (3,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 584.32 Td (13,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 584.32 Td (14,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 584.32 Td (10,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 584.32 Td (9,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 584.32 Td (79,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 584.32 Td (130,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 570.32 Td (Operating lease obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.65 570.32 Td (7,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 570.32 Td (44,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 570.32 Td (43,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 570.32 Td (39,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 570.32 Td (36,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.60 570.32 Td (180,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 570.32 Td (352,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 556.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.65 556.32 Td (21,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 556.32 Td (25,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 556.32 Td (8,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 556.32 Td (1,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 556.32 Td (380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 556.32 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 556.32 Td (56,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 542.32 Td (T) Tj ET Q q 0 0 0 rg BT 63.91 542.32 Td (otal ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 81.41 546.39 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.60 542.32 Td (558,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.60 542.32 Td (851,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 542.32 Td (773,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.60 542.32 Td (719,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.10 542.32 Td (1,421,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 542.32 Td (6,708,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 542.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 542.32 Td (11,033,562) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 521.45 Td (\(1\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 521.45 Td (The table does not include our reserve for uncertain tax positions, which at ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.92 521.45 Td (September30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.15 521.45 Td ( totaled ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.14 521.45 Td ($5,427) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.89 521.45 Td (, as the specific timing ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 510.65 Td (of any cash payments cannot be projected with reasonable certainty) Tj ET Q q 0 0 0 rg BT 319.07 510.65 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 486.65 Td (Debt obligations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.94 486.65 Td (Debt obligations include principal payments on outstanding debt and capital lease obligations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 462.65 Td (Cash inter) Tj ET Q q 0 0 0 rg BT 119.08 462.65 Td (est payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.95 462.65 Td (Cash interest payments include interest due on outstanding debt and capital lease payments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.65 Td (through maturity) Tj ET Q q 0 0 0 rg BT 116.34 450.65 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 426.65 Td (Satellite and transmission.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.89 426.65 Td (W) Tj ET Q q 0 0 0 rg BT 202.53 426.65 Td (e have entered into agreements with third parties to operate and maintain the of) Tj ET Q q 0 0 0 rg BT 519.17 426.65 Td (f-site ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.65 Td (satellite telemetry) Tj ET Q q 0 0 0 rg BT 120.21 414.65 Td (, tracking and control facilities and certain components of our terrestrial repeater networks. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.65 Td (quarter ended September 30, 2016, we entered into an agreement with Space Systems/Loral to design and build ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.99 402.65 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.99 402.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.65 Td (replacement satellites, SXM-7 and SXM-8, for our service.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 366.65 Td (Pr) Tj ET Q q 0 0 0 rg BT 87.13 366.65 Td (ogramming and content.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.18 366.65 Td (W) Tj ET Q q 0 0 0 rg BT 203.81 366.65 Td (e have entered into various programming agreements. Under the terms of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (agreements, our obligations include fixed payments, advertising commitments and revenue sharing arrangements. Our future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.65 Td (revenue sharing costs are dependent upon many factors and are dif) Tj ET Q q 0 0 0 rg BT 315.88 342.65 Td (ficult to estimate; therefore, they are not included in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.65 Td (minimum contractual cash commitments.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 306.65 Td (Marketing and distribution.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.33 306.65 Td (W) Tj ET Q q 0 0 0 rg BT 206.97 306.65 Td (e have entered into various marketing, sponsorship and distribution agreements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.65 Td (promote our brand and are obligated to make payments to sponsors, retailers, automakers and radio manufacturers under these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.65 Td (agreements. Certain programming and content agreements also require us to purchase advertising on properties owned or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.65 Td (controlled by the licensors. ) Tj ET Q q 0 0 0 rg BT 160.13 270.65 Td (W) Tj ET Q q 0 0 0 rg BT 168.76 270.65 Td (e also reimburse automakers for certain engineering and development costs associated with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.65 Td (incorporation of satellite radios into new vehicles they manufacture.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 234.65 Td (Satellite incentive payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.63 234.65 Td (Boeing Satellite Systems International, Inc., the manufacturer of certain of our in-orbit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.65 Td (satellites, may be entitled to future in-orbit performance payments with respect to XM-3 and XM-4 meeting their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.37 222.65 Td (fifteen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.46 222.65 Td (-year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.65 Td (design life, which we expect to occur) Tj ET Q q 0 0 0 rg BT 198.06 210.65 Td (.Boeing may also be entitled to additional incentive payments up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.22 210.65 Td ($10,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.72 210.65 Td ( if our XM-4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.65 Td (satellite continues to operate above baseline specifications during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.57 198.65 Td (five years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.72 198.65 Td ( beyond the satellite) Tj ET Q q 0 0 0 rg BT 450.75 198.65 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.14 198.65 Td (fifteen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.24 198.65 Td (-year design life.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 174.65 Td (Space Systems/Loral, the manufacturer of certain of our in-orbit satellites, may be entitled to future in-orbit performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.65 Td (payments with respect to XM-5, FM-5 and FM-6 meeting their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.18 162.65 Td (fifteen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.28 162.65 Td (-year design life, which we expect to occur) Tj ET Q q 0 0 0 rg BT 501.87 162.65 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 138.65 Td (Operating lease obligations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.66 138.65 Td (W) Tj ET Q q 0 0 0 rg BT 210.30 138.65 Td (e have entered into both cancelable and non-cancelable operating leases for of) Tj ET Q q 0 0 0 rg BT 522.47 138.65 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.65 Td (space, equipment and terrestrial repeaters. ) Tj ET Q q 0 0 0 rg BT 220.07 126.65 Td (These leases provide for minimum lease payments, additional operating expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.65 Td (char) Tj ET Q q 0 0 0 rg BT 66.53 114.65 Td (ges, leasehold improvements and rent escalations that have initial terms ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.59 114.65 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.03 114.65 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.81 114.65 Td (fifteen years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 114.65 Td (, and certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.65 Td (leases have options to renew) Tj ET Q q 0 0 0 rg BT 163.26 102.65 Td (. ) Tj ET Q q 0 0 0 rg BT 168.08 102.65 Td (The ef) Tj ET Q q 0 0 0 rg BT 193.71 102.65 Td (fect of the rent holidays and rent concessions are recognized on a straight-line basis over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.65 Td (the lease term, including reasonably assured renewal periods.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 66.65 Td (Other) Tj ET Q q 0 0 0 rg BT 99.72 66.65 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.22 66.65 Td (W) Tj ET Q q 0 0 0 rg BT 120.86 66.65 Td (e have entered into various agreements with third parties for general operating purposes. In addition to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 54.65 Td (minimum contractual cash commitments described above, we have entered into agreements with other variable cost ) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 108.18 704.10 Td (These future costs are dependent upon many factors and are dif) Tj ET Q q 0 0 0 rg BT 361.23 704.10 Td (ficult to anticipate; however) Tj ET Q q 0 0 0 rg BT 473.29 704.10 Td (, these costs may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (substantial. ) Tj ET Q q 0 0 0 rg BT 97.09 692.10 Td (W) Tj ET Q q 0 0 0 rg BT 105.73 692.10 Td (e may enter into additional programming, distribution, marketing and other agreements that contain similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (variable cost provisions.) Tj ET Q q 0 0 0 rg BT 151.80 680.10 Td (The cost of Holdings' stock acquired but not paid for as of) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.38 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.88 680.10 Td (September30, 2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.15 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 680.10 Td (is) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.32 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.82 680.10 Td (also) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.92 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.42 680.10 Td (included in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (category) Tj ET Q q 0 0 0 rg BT 83.27 668.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 644.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 644.10 Td (e do not have any other significant of) Tj ET Q q 0 0 0 rg BT 235.08 644.10 Td (f-balance sheet financing arrangements that are reasonably likely to have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (material ef) Tj ET Q q 0 0 0 rg BT 92.35 632.10 Td (fect on our financial condition, results of operations, liquidity) Tj ET Q q 0 0 0 rg BT 337.75 632.10 Td (, capital expenditures or capital resources.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 602.10 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 584.10 Td (In the ordinary course of business, we are a defendant or party to various claims and lawsuits, including those discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (below) Tj ET Q q 0 0 0 rg BT 73.29 572.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 548.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 548.10 Td (e record a liability when we believe that it is both probable that a liability will be incurred, and the amount of loss can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (be reasonably estimated. ) Tj ET Q q 0 0 0 rg BT 150.39 536.10 Td (W) Tj ET Q q 0 0 0 rg BT 159.03 536.10 Td (e evaluate developments in legal matters that could af) Tj ET Q q 0 0 0 rg BT 373.77 536.10 Td (fect the amount of liability that has been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (previously accrued and make adjustments as appropriate.Significant judgment is required to determine both probability and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (the estimated amount of a loss or potential loss.) Tj ET Q q 0 0 0 rg BT 244.56 512.10 Td (W) Tj ET Q q 0 0 0 rg BT 253.20 512.10 Td (e may be unable to reasonably estimate the reasonably possible loss or range ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (of loss for a particular legal contingency for various reasons, including, among others, because: \(i\) the damages sought are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (indeterminate; \(ii\)the proceedings are in the relative early stages; \(iii\)there is uncertainty as to the outcome of pending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (proceedings \(including motions and appeals\); \(iv\)there is uncertainty as to the likelihood of settlement and the outcome of any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (negotiations with respect thereto; \(v\)there remain significant factual issues to be determined or resolved; \(vi\)the relevant law is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (unsettled; or \(vii\) the proceedings involve novel or untested legal theories.In such instances, there may be considerable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (uncertainty regarding the ultimate resolution of such matters, including a possible eventual loss, if any) Tj ET Q q 0 0 0 rg BT 458.19 440.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 416.10 Td (T) Tj ET Q q 0 0 0 rg BT 82.14 416.10 Td (elephone Consumer Pr) Tj ET Q q 0 0 0 rg BT 173.98 416.10 Td (otection ) Tj ET Q q 0 0 0 rg BT 208.51 416.10 Td (Act Suits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.78 416.10 Td (.) Tj ET Q q 0 0 0 rg BT 251.10 416.10 Td (W) Tj ET Q q 0 0 0 rg BT 259.74 416.10 Td (e are a defendant in several purported class action suits that allege that we, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (or call center vendors acting on our behalf, made calls which violate provisions of the ) Tj ET Q q 0 0 0 rg BT 394.76 404.10 Td (T) Tj ET Q q 0 0 0 rg BT 400.17 404.10 Td (elephone Consumer Protection ) Tj ET Q q 0 0 0 rg BT 525.43 404.10 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (1991 \(the TCP) Tj ET Q q 0 0 0 rg BT 111.91 392.10 Td (A\).) Tj ET Q q 0 0 0 rg BT 134.22 392.10 Td (The plaintif) Tj ET Q q 0 0 0 rg BT 180.96 392.10 Td (fs in these actions allege, among other things, that we called mobile phones using an automatic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (telephone dialing system without the consumer) Tj ET Q q 0 0 0 rg BT 238.45 380.10 Td () Tj ET Q q 0 0 0 rg BT 241.22 380.10 Td (s prior consent or) Tj ET Q q 0 0 0 rg BT 310.53 380.10 Td (, alternatively) Tj ET Q q 0 0 0 rg BT 364.86 380.10 Td (, after the consumer revoked his or her prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (consent.In one of the actions, the plaintif) Tj ET Q q 0 0 0 rg BT 217.61 368.10 Td (f also alleges that we violated the ) Tj ET Q q 0 0 0 rg BT 353.21 368.10 Td (TCP) Tj ET Q q 0 0 0 rg BT 370.63 368.10 Td (A) Tj ET Q q 0 0 0 rg BT 376.75 368.10 Td () Tj ET Q q 0 0 0 rg BT 379.52 368.10 Td (s call time restrictions and, in one of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (other actions, the plaintif) Tj ET Q q 0 0 0 rg BT 149.29 356.10 Td (f also alleges that we violated the ) Tj ET Q q 0 0 0 rg BT 284.90 356.10 Td (TCP) Tj ET Q q 0 0 0 rg BT 302.32 356.10 Td (A) Tj ET Q q 0 0 0 rg BT 308.43 356.10 Td () Tj ET Q q 0 0 0 rg BT 311.21 356.10 Td (s do not call restrictions. ) Tj ET Q q 0 0 0 rg BT 414.07 356.10 Td (These purported class action cases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (are titled ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 87.2587890625 342.7669921875 m 238.826171875 342.7669921875 l s q 0 0 0 rg BT 87.26 344.10 Td (Erik Knutson v) Tj ET Q q 0 0 0 rg BT 147.72 344.10 Td (. Sirius XM Radio Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.83 344.10 Td (, No. 12-cv-0418-AJB-NLS \(S.D. Cal.\), ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 401.3115234375 342.7669921875 m 559.2705078125 342.7669921875 l s q 0 0 0 rg BT 401.31 344.10 Td (Francis ) Tj ET Q q 0 0 0 rg BT 433.07 344.10 Td (W) Tj ET Q q 0 0 0 rg BT 441.59 344.10 Td (. Hooker v) Tj ET Q q 0 0 0 rg BT 483.43 344.10 Td (. Sirius XM Radio ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 330.7669921875 m 64.7685546875 330.7669921875 l s q 0 0 0 rg BT 49.50 332.10 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.77 332.10 Td (, No. 4:13-cv-3 \(E.D. ) Tj ET Q q 0 0 0 rg BT 152.35 332.10 Td (V) Tj ET Q q 0 0 0 rg BT 158.46 332.10 Td (a.\), ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 173.54296875 330.7669921875 m 437.7568359375 330.7669921875 l s q 0 0 0 rg BT 173.36 332.10 Td (Y) Tj ET Q q 0 0 0 rg BT 179.58 332.10 Td (efim Elikman v) Tj ET Q q 0 0 0 rg BT 241.14 332.10 Td (. Sirius XM Radio Inc. and Career Horizons, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.76 332.10 Td (, No. 1:15-cv-02093 \(N.D. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (Ill.\), and ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 85.87939453125 318.7669921875 m 247.1611328125 318.7669921875 l s q 0 0 0 rg BT 85.60 320.10 Td (Anthony Parker v) Tj ET Q q 0 0 0 rg BT 156.05 320.10 Td (. Sirius XM Radio Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.16 320.10 Td (, No. 8:15-cv-01710-JSM-EAJ \(M.D. Fla\), and are described in Item 3., Legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (Proceedings, in our ) Tj ET Q q 0 0 0 rg BT 128.93 308.10 Td (Annual Report on Form 10-K for the year ended December 31, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 86.14 284.10 Td (e have entered into an agreement to settle these purported class action suits. ) Tj ET Q q 0 0 0 rg BT 393.35 284.10 Td (The settlement is expected to resolve the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (claims of consumers beginning in February 2008 relating to telemarketing calls to their mobile telephones. ) Tj ET Q q 0 0 0 rg BT 480.78 272.10 Td (As part of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (settlement, we have made a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.23 260.10 Td ($35,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.73 260.10 Td ( payment to a settlement fund \(from which notice, administration and other costs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (attorneys) Tj ET Q q 0 0 0 rg BT 88.74 248.10 Td ( fees will be paid\), and are of) Tj ET Q q 0 0 0 rg BT 205.18 248.10 Td (fering participating class members the option of receiving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.99 248.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.93 248.10 Td ( of our Select ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (service for no char) Tj ET Q q 0 0 0 rg BT 124.00 236.10 Td (ge, and will enter into agreements to make modifications to the practices of certain call center vendors. ) Tj ET Q q 0 0 0 rg BT 540.33 236.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (settlement is subject to final court approval, which cannot be assured.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 200.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 87.13 200.10 Td (e-1972 Sound Recor) Tj ET Q q 0 0 0 rg BT 168.40 200.10 Td (ding Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.79 200.10 Td (.In ) Tj ET Q q 0 0 0 rg BT 237.57 200.10 Td (August 2013, SoundExchange, Inc. filed a complaint in the United States ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (District Court for the District of Columbia alleging that we underpaid royalties for statutory licenses during the 2007-2012 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (period in violation of the regulations established by the Copyright Royalty Board for that period.SoundExchange principally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (alleges that we improperly reduced our calculation of gross revenues, on which the royalty payments are based, by deducting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (non-recognized revenue attributable to pre-1972 recordings and Premier package revenue that is not separately char) Tj ET Q q 0 0 0 rg BT 516.89 152.10 Td (ged as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (required by the regulations.SoundExchange is seeking compensatory damages of not less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.57 140.10 Td ($50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.07 140.10 Td ( and up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.29 140.10 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.79 140.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (more, payment of late fees and interest, and attorneys) Tj ET Q q 0 0 0 rg BT 265.90 128.10 Td ( fees and costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 104.10 Td (In ) Tj ET Q q 0 0 0 rg BT 87.78 104.10 Td (August 2014, the United States District Court for the District of Columbia granted our motion to dismiss the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (complaint without prejudice on the grounds that the case properly should be pursued before the Copyright Royalty Board rather ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (than the district court.In December 2014, SoundExchange filed a petition with the Copyright Royalty Board requesting an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (order interpreting the applicable regulations. ) Tj ET Q q 0 0 0 rg BT 232.31 68.10 Td (W) Tj ET Q q 0 0 0 rg BT 240.95 68.10 Td (e have submitted legal briefs and other evidence supporting our position that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (our payments and practices complied with the regulations established by the Copyright Royalty Board for statutory licenses ) Tj ET Q endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (during the 2007-2012 period or) Tj ET Q q 0 0 0 rg BT 174.63 704.10 Td (, in the event that the Judges should find that the applicable regulations were unclear) Tj ET Q q 0 0 0 rg BT 512.18 704.10 Td (, that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (Judges should clarify the regulations and confirm that our payments and practices complied with the regulations for that period. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (Briefing in this matter is complete and a decision from the Copyright Royalty Board is pending.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 656.10 Td (This matter is titled ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 158.0419921875 654.7669921875 m 343.7548828125 654.7669921875 l s q 0 0 0 rg BT 158.04 656.10 Td (SoundExchange, Inc. v) Tj ET Q q 0 0 0 rg BT 250.15 656.10 Td (. Sirius XM Radio, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.75 656.10 Td (, No.13-cv-1290-RJL) Tj ET Q q 0 0 0 rg BT 429.20 656.10 Td ( \(D.D.C.\), and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.92 656.10 Td (Determination of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (Rates and T) Tj ET Q q 0 0 0 rg BT 96.36 644.10 Td (erms for Pr) Tj ET Q q 0 0 0 rg BT 142.10 644.10 Td (eexisting Subscription Services and Satellite Digital ) Tj ET Q q 0 0 0 rg BT 352.44 644.10 Td (Audio Radio Services,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.03 644.10 Td ( United States Copyright ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Royalty Board, No. 2006-1 CRB DSTRA.Information concerning the action is publicly available in filings under the docket ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (numbers. ) Tj ET Q q 0 0 0 rg BT 91.26 620.10 Td (The outcome of this matter is inherently unpredictable and subject to significant uncertainties, many of which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (beyond our control. No provision was made for losses to the extent such are not probable and estimable. ) Tj ET Q q 0 0 0 rg BT 473.66 608.10 Td (W) Tj ET Q q 0 0 0 rg BT 482.30 608.10 Td (e believe we have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (substantial defenses to the claims asserted, and intend to defend this action vigorously) Tj ET Q q 0 0 0 rg BT 392.94 596.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.50 572.10 Td (Other Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.44 572.10 Td (.In the ordinary course of business, we are a defendant in various other lawsuits and arbitration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (proceedings, including derivative actions; actions filed by subscribers, both on behalf of themselves and on a class action basis; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (former employees; parties to contracts or leases; and owners of patents, trademarks, copyrights or other intellectual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (property) Tj ET Q q 0 0 0 rg BT 82.73 536.10 Td (.None of these other matters, in our opinion, is likely to have a material adverse ef) Tj ET Q q 0 0 0 rg BT 416.33 536.10 Td (fect on our business, financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (condition or results of operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (\(13\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 488.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 110.48 488.10 Td (T) Tj ET Q q 0 0 0 rg BT 116.23 488.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 470.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.61 470.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.59 470.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.42 470.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.68 470.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.12 470.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.12 470.10 Td (, income tax expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.53 470.10 Td ($1) Tj ET Q q 0 0 0 rg BT 423.16 470.10 Td (1) Tj ET Q q 0 0 0 rg BT 427.79 470.10 Td (1,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.29 470.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.73 470.10 Td ($1) Tj ET Q q 0 0 0 rg BT 479.36 470.10 Td (12,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.86 470.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 559.52 470.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 458.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.61 458.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.83 458.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.65 458.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.91 458.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.35 458.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.35 458.10 Td (, income tax expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.76 458.10 Td ($326,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.26 458.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.70 458.10 Td ($296,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.20 458.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 529.86 458.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 434.10 Td (Our ef) Tj ET Q q 0 0 0 rg BT 103.14 434.10 Td (fective tax rate for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.92 434.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.56 434.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.39 434.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 434.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.20 434.10 Td (36.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.03 434.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.47 434.10 Td (37.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 434.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 535.96 434.10 Td (. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 422.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 422.10 Td (fective tax rate for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.87 422.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.51 422.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.33 422.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 422.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 422.10 Td (40.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.98 422.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.42 422.10 Td (44.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.25 422.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 489.91 422.10 Td (. Our ef) Tj ET Q q 0 0 0 rg BT 523.05 422.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.10 Td (tax rate for the nine months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.62 410.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.88 410.10 Td ( was impacted by tax law changes in the District of Columbia and New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 398.10 Td (Y) Tj ET Q q 0 0 0 rg BT 55.72 398.10 Td (ork City) Tj ET Q q 0 0 0 rg BT 88.13 398.10 Td (. ) Tj ET Q q 0 0 0 rg BT 95.45 398.10 Td (The tax law change in the District of Columbia will reduce our future tax and thus we will use less of certain net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 386.10 Td (operating losses in the future which resulted in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.84 386.10 Td ($44,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.34 386.10 Td ( increase in our valuation allowance during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 374.10 Td (March 31, 2015. ) Tj ET Q q 0 0 0 rg BT 120.42 374.10 Td (The tax law change in New ) Tj ET Q q 0 0 0 rg BT 232.22 374.10 Td (Y) Tj ET Q q 0 0 0 rg BT 238.45 374.10 Td (ork City will increase certain net operating losses to be utilized in the future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 362.10 Td (which resulted in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.81 362.10 Td ($14,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.31 362.10 Td ( increase in our deferred tax asset during the three months ended June 30, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 338.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.94 338.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.21 338.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.65 338.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.23 338.10 Td (, we had a valuation allowance related to deferred tax assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 326.10 Td ($49,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 326.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.44 326.10 Td ($49,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.94 326.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 186.60 326.10 Td (, that were not likely to be realized due to certain net operating loss limitations and acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 314.10 Td (net operating losses that were not more likely than not going to be utilized.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 278.10 Td (\(14\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 278.10 Td (Subsequent Events) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.50 260.10 Td (Debt Redemption) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 242.10 Td (On October 1, 2016, we redeemed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.45 242.10 Td ($650,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.95 242.10 Td ( in principal amount of our outstanding 5.875% Notes for an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.10 Td (purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.85 230.10 Td ($669,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.35 230.10 Td (, including premium, which will result in the recognition of a Loss on extinguishment of debt and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 218.10 Td (credit facilities, net, of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 218.10 Td ($24,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 218.10 Td ( in the fourth quarter of 2016. ) Tj ET Q q 0 0 0 rg BT 358.40 218.10 Td (This redemption was funded with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.32 218.10 Td ($359,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.82 218.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 206.10 Td (Cash and cash equivalents and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.19 206.10 Td ($310,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.69 206.10 Td ( of additional borrowings under our Credit Facility) Tj ET Q q 0 0 0 rg BT 414.06 206.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 176.10 Td (Holdings' Capital Return Pr) Tj ET Q q 0 0 0 rg BT 176.16 176.10 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 159.60 Td (For the period from October 1, 2016 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.08 159.60 Td (October25, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.79 159.60 Td (, we repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.75 159.60 Td ($76,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.25 159.60 Td ( of Holdings' common stock on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.60 Td (open market, including fees and commissions.) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 760.60 Td (SIRIUS XM RADIO INC. ) Tj ET Q q 0 0 0 rg BT 315.43 760.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.60 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 184.82 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 191.31 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 261.41 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 340.59 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 354.58 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 361.06 748.60 Td (TEMENTS - Continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 736.60 Td (\(UNAUDITED\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 724.60 Td (\(Dollars and shar) Tj ET Q q 0 0 0 rg BT 252.02 724.60 Td (es in thousands, except per) Tj ET Q q 0 0 0 rg BT 366.02 724.60 Td ( shar) Tj ET Q q 0 0 0 rg BT 387.23 724.60 Td (e amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 704.10 Td (On October 26, 2016, Holdings' board of directors approved an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.62 704.10 Td ($2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.62 704.10 Td ( for repurchase of Holdings' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (common stock.) Tj ET Q q 0 0 0 rg BT 115.42 692.10 Td (The new approval increases the amount of common stock that we have been authorized to repurchase to an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.69 680.10 Td ($10,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.69 680.10 Td (. Shares of Holdings' common stock may be purchased from time to time on the open market and in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (privately negotiated transactions, including in accelerated stock repurchase transactions and transactions with Liberty Media ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (and its af) Tj ET Q q 0 0 0 rg BT 85.97 656.10 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 120.51 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 129.14 656.10 Td (e intend to fund the additional repurchases of Holdings' common stock through a combination of cash on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (hand, cash generated by operations and future borrowings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 620.10 Td (On October 26, 2016, Holdings' board of directors also declared the first quarterly dividend on Holdings' common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.82 608.10 Td ($0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.32 608.10 Td ( per share of common stock payable on November 30, 2016 to stockholders of record as of the close of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (business on November 9, 2016. Holdings' board of directors expects that this dividend will be the first of regular quarterly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (dividends, in an aggregate annual amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.45 584.10 Td ($0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.95 584.10 Td ( per share of common stock.) Tj ET Q endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 200.02 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 223.64 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 251.05 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 289.31 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 347.92 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 411.27 742.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 467.86 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 496.11 742.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 532.87 742.25 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 727.25 Td (All amounts referenced in this discussion and analysis are in thousands, except per subscriber and per installation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 715.25 Td (amounts, unless otherwise stated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 694.25 Td (The following discussion and analysis of our financial condition and results of operations should be read in conjunction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (with our unaudited consolidated financial statements and related notes included elsewhere in this Quarterly Report and with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Holdings' ) Tj ET Q q 0 0 0 rg BT 90.42 670.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.76 670.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.34 670.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Special Note Regarding Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 628.25 Td (The following cautionary statements identify important factors that could cause our actual results to dif) Tj ET Q q 0 0 0 rg BT 489.48 628.25 Td (fer materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (from those projected in forward-looking statements made in this Quarterly Report and in other reports and documents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (published by us from time to time. ) Tj ET Q q 0 0 0 rg BT 189.99 604.25 Td (Any statements about our beliefs, plans, objectives, expectations, assumptions, future events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (or performance are not historical facts and may be forward-looking. ) Tj ET Q q 0 0 0 rg BT 323.88 592.25 Td (These statements are often, but not always, made through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (the use of words or phrases such as will likely result, are expected to, will continue, is anticipated, estimated, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (intend, plan, projection and outlook. ) Tj ET Q q 0 0 0 rg BT 232.71 568.25 Td (Any forward-looking statements are qualified in their entirety by reference to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (factors discussed throughout this Quarterly Report and in other reports and documents published by us from time to time, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (particularly the risk factors described under Risk Factors in PartI, Item1A, of Holdings' Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 532.25 Td ( and Management) Tj ET Q q 0 0 0 rg BT 207.44 532.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 276.61 532.25 Td (Analysis of Financial Condition and Results or Operations herein and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (in PartII, Item7, of Holdings' ) Tj ET Q q 0 0 0 rg BT 172.62 520.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.96 520.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.54 520.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 496.25 Td (Among the significant factors that could cause our actual results to dif) Tj ET Q q 0 0 0 rg BT 357.57 496.25 Td (fer materially from those expressed in the forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (looking statements are:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 466.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.85 Td (we face substantial competition and that competition is likely to increase over time;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 449.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 449.45 Td (our ability to attract and retain subscribers in the future is uncertain;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 432.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 432.05 Td (consumer protection laws and their enforcement could damage our business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 414.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 414.65 Td (the unfavorable outcome of pending or future litigation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 397.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 397.25 Td (the market for music rights is changing and is subject to significant uncertainties;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 379.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 379.85 Td (our business depends in lar) Tj ET Q q 0 0 0 rg BT 194.13 379.85 Td (ge part upon the auto industry;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 362.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 362.45 Td (general economic conditions can af) Tj ET Q q 0 0 0 rg BT 227.43 362.45 Td (fect our business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 345.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 345.05 Td (if we fail to protect the security of personal information about our customers, we could be subject to costly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 327.65 Td (government enforcement actions and private litigation and our reputation could suf) Tj ET Q q 0 0 0 rg BT 417.94 327.65 Td (fer;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 310.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.25 Td (other existing or future government laws and regulations could harm our business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 292.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 292.85 Td (failure of our satellites would significantly damage our business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 275.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 275.45 Td (interruption or failure of our information technology and communications systems could negatively impact our results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 258.05 Td (and our brand;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 240.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 240.65 Td (we may not realize the benefits of acquisitions or other strategic initiatives;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 223.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 223.25 Td (rapid technological and industry changes could adversely impact our services;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 205.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 205.85 Td (failure of third parties to perform could adversely af) Tj ET Q q 0 0 0 rg BT 294.07 205.85 Td (fect our business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 188.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 188.45 Td (our service may experience harmful interference from new and existing wireless operations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 171.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 171.05 Td (failure to comply with FCC requirements could damage our business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 153.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 153.65 Td (we may from time to time modify our business plan, and these changes could adversely af) Tj ET Q q 0 0 0 rg BT 446.28 153.65 Td (fect us and our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 136.25 Td (condition;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 118.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.85 Td (we have a significant amount of indebtedness, and our revolving credit facility contains certain covenants that restrict ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 101.45 Td (our current and future operations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 84.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 84.05 Td (our studios, terrestrial repeater networks, satellite uplink facilities or other ground facilities could be damaged by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 66.65 Td (natural catastrophes or terrorist activities;) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Holdings' principal stockholder has significant influence, including over actions requiring stockholder approval, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 724.70 Td (its interests may dif) Tj ET Q q 0 0 0 rg BT 164.42 724.70 Td (fer from the interests of other holders of its common stock; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 707.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 707.30 Td (Holdings' is a controlled company within the meaning of the NASDAQ listing rules and, as a result, qualifies for) Tj ET Q q 0 0 0 rg BT 545.64 707.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 689.90 Td (and relies on, exemptions from certain corporate governance requirements; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 672.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 672.50 Td (our business may be impaired by third-party intellectual property rights. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 648.50 Td (Because the risk factors referred to above could cause actual results or outcomes to dif) Tj ET Q q 0 0 0 rg BT 422.80 648.50 Td (fer materially from those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.50 Td (expressed in any forward-looking statements made by us or on our behalf, you should not place undue reliance on any of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 624.50 Td (forward-looking statements. In addition, any forward-looking statement speaks only as of the date on which it is made, and we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 612.50 Td (undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.50 Td (on which the statement is made, to reflect the occurrence of unanticipated events or otherwise, except as required by law) Tj ET Q q 0 0 0 rg BT 531.66 600.50 Td (. New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.50 Td (factors emer) Tj ET Q q 0 0 0 rg BT 99.51 588.50 Td (ge from time to time, and it is not possible for us to predict which will arise or to assess with any precision the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.50 Td (impact of each factor on our business or the extent to which any factor) Tj ET Q q 0 0 0 rg BT 331.45 576.50 Td (, or combination of factors, may cause actual results to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.50 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 564.50 Td (fer materially from those contained in any forward-looking statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 540.50 Td (Executive Summary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 522.50 Td (W) Tj ET Q q 0 0 0 rg BT 86.64 522.50 Td (e transmit music, sports, entertainment, comedy) Tj ET Q q 0 0 0 rg BT 277.61 522.50 Td (, talk, news, traf) Tj ET Q q 0 0 0 rg BT 341.85 522.50 Td (fic and weather channels, as well as infotainment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.50 Td (services, in the United States on a subscription fee basis through our two proprietary satellite radio systems.Subscribers can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.50 Td (also receive music and other channels, plus features such as SiriusXM On Demand and MySXM, over our Internet radio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.50 Td (service, including through applications for mobile devices.) Tj ET Q q 0 0 0 rg BT 289.76 486.50 Td (W) Tj ET Q q 0 0 0 rg BT 298.39 486.50 Td (e are also a leader in providing connected vehicle services.Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.50 Td (connected vehicle services are designed to enhance the safety) Tj ET Q q 0 0 0 rg BT 295.34 474.50 Td (, security and driving experience for vehicle operators while ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.50 Td (providing marketing and operational benefits to automakers and their dealers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 438.50 Td (W) Tj ET Q q 0 0 0 rg BT 86.64 438.50 Td (e have agreements with every major automaker \(OEMs\) to of) Tj ET Q q 0 0 0 rg BT 341.08 438.50 Td (fer satellite radio in their vehicles.) Tj ET Q q 0 0 0 rg BT 482.51 438.50 Td (W) Tj ET Q q 0 0 0 rg BT 491.14 438.50 Td (e also acquire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.50 Td (subscribers through marketing to owners and lessees of previously owned vehicles that include factory-installed satellite radios ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.50 Td (that are not currently subscribing to our services.) Tj ET Q q 0 0 0 rg BT 249.95 414.50 Td (Additionally) Tj ET Q q 0 0 0 rg BT 299.85 414.50 Td (, we distribute our satellite radios through retailers online and at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.50 Td (locations nationwide and through our website.Satellite radio services are also of) Tj ET Q q 0 0 0 rg BT 374.45 402.50 Td (fered to customers of certain rental car ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.50 Td (companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 366.50 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.44 366.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.71 366.50 Td (, we had approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.06 366.50 Td (31.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.56 366.50 Td ( million subscribers of which approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.97 366.50 Td (25.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.47 366.50 Td ( million were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.50 Td (self-pay subscribers and approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.39 354.50 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.89 354.50 Td ( million were paid promotional subscribers. Our subscriber totals include subscribers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.50 Td (under our regular pricing plans; discounted pricing plans; subscribers that have prepaid, including payments either made or due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.50 Td (from automakers for subscriptions included in the sale or lease price of a vehicle; subscribers to our Internet services who do ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.50 Td (not also have satellite radio subscriptions; and certain subscribers to our weather) Tj ET Q q 0 0 0 rg BT 371.45 318.50 Td (, traf) Tj ET Q q 0 0 0 rg BT 390.15 318.50 Td (fic, and data services who do not also have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.50 Td (satellite radio subscriptions.Subscribers and subscription related revenues and expenses associated with our connected vehicle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.50 Td (services and the Sirius XM Canada service are not included in our subscriber count or subscriber) Tj ET Q q 0 0 0 rg BT 437.19 294.50 Td (-based operating metrics.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 270.50 Td (Our primary source of revenue is subscription fees, with most of our customers subscribing on an annual, semi-annual, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.50 Td (quarterly or monthly plan.) Tj ET Q q 0 0 0 rg BT 159.79 258.50 Td (W) Tj ET Q q 0 0 0 rg BT 168.43 258.50 Td (e of) Tj ET Q q 0 0 0 rg BT 183.52 258.50 Td (fer discounts for prepaid, longer term subscription plans, as well as a multiple subscription ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.50 Td (discount.) Tj ET Q q 0 0 0 rg BT 91.21 246.50 Td (W) Tj ET Q q 0 0 0 rg BT 99.84 246.50 Td (e also derive revenue from activation and other fees, the sale of advertising on select non-music channels, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.50 Td (direct sale of satellite radios and accessories, and other ancillary services, such as our weather) Tj ET Q q 0 0 0 rg BT 425.00 234.50 Td (, traf) Tj ET Q q 0 0 0 rg BT 443.70 234.50 Td (fic and data services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 210.50 Td (In certain cases, a subscription to our radio services is included in the sale or lease price of new vehicles or previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.50 Td (owned vehicles. ) Tj ET Q q 0 0 0 rg BT 116.74 198.50 Td (The length of these subscriptions varies but is typically three to twelve months.) Tj ET Q q 0 0 0 rg BT 438.44 198.50 Td (W) Tj ET Q q 0 0 0 rg BT 447.08 198.50 Td (e receive payments for these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.50 Td (subscriptions from certain automakers.) Tj ET Q q 0 0 0 rg BT 210.33 186.50 Td (W) Tj ET Q q 0 0 0 rg BT 218.97 186.50 Td (e also reimburse various automakers for certain costs associated with satellite radios ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.50 Td (installed in new vehicles.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 150.50 Td (As of September 30, 2016, Liberty Media beneficially owned, directly and indirectly) Tj ET Q q 0 0 0 rg BT 416.70 150.50 Td (, approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.96 150.50 Td (65%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.29 150.50 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.50 Td (outstanding shares of Holdings' common stock.) Tj ET Q q 0 0 0 rg BT 244.01 138.50 Td (As a result, Holdings is a controlled company for the purposes of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.50 Td (NASDAQ corporate governance requirements.Liberty Media owns interests in a range of media, communications and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.50 Td (entertainment businesses.) Tj ET Q endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 742.25 Td (Recent Development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.00 724.25 Td (Recapitalization of Sirius XM Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 706.25 Td (On May 12, 2016, we entered into an arrangement agreement \(the Arrangement ) Tj ET Q q 0 0 0 rg BT 402.43 706.25 Td (Agreement\) with Sirius XM Canada ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Holdings Inc. \("Sirius XM Canada"\), an entity in which we currently hold an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.08 694.25 Td (37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.41 694.25 Td ( economic interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.16 694.25 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.49 694.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (voting interest. Pursuant to the ) Tj ET Q q 0 0 0 rg BT 176.93 682.25 Td (Arrangement ) Tj ET Q q 0 0 0 rg BT 231.64 682.25 Td (Agreement, the Company and certain Canadian shareholders will form a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (company to acquire shares of Sirius XM Canada not already owned by us and certain Canadian shareholders pursuant to a plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (of arrangement \(the T) Tj ET Q q 0 0 0 rg BT 141.54 658.25 Td (ransaction\). In connection with the ) Tj ET Q q 0 0 0 rg BT 287.42 658.25 Td (T) Tj ET Q q 0 0 0 rg BT 293.18 658.25 Td (ransaction, Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 416.49 658.25 Td (s shareholders will be entitled to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (elect to receive, for each share of Sirius XM Canada held, C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.74 646.25 Td ($4.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.24 646.25 Td ( \(U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.36 646.25 Td ($3.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.86 646.25 Td ( as of May 12, 2016\) in \(i\) cash, \(ii\) shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Holdings' common stock, \(iii\) a security exchangeable for shares of Holdings' common stock, or \(iv\) a combination thereof; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (provided that no more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.81 622.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.14 622.25 Td ( of the total consideration in the ) Tj ET Q q 0 0 0 rg BT 308.64 622.25 Td (T) Tj ET Q q 0 0 0 rg BT 314.40 622.25 Td (ransaction \(or up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.93 622.25 Td (35,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.43 622.25 Td ( shares\) will be issued in Holdings' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (common stock and exchangeable shares. ) Tj ET Q q 0 0 0 rg BT 216.89 610.25 Td (All of the obligations under the ) Tj ET Q q 0 0 0 rg BT 344.09 610.25 Td (Arrangement ) Tj ET Q q 0 0 0 rg BT 398.79 610.25 Td (Agreement are guaranteed by us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 586.25 Td (Following the ) Tj ET Q q 0 0 0 rg BT 135.15 586.25 Td (T) Tj ET Q q 0 0 0 rg BT 140.91 586.25 Td (ransaction, we are expected to hold a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.40 586.25 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.73 586.25 Td ( economic interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.47 586.25 Td (33%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.80 586.25 Td ( voting interest in Sirius XM ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Canada, with the remainder of the voting power and economic interest held by Slaight Communications and Obelysk Media, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 562.25 Td ( of Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 155.55 562.25 Td (s current Canadian shareholders. ) Tj ET Q q 0 0 0 rg BT 288.37 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 297.01 562.25 Td (e expect to contribute to Sirius XM Canada approximately U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td ($275,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 550.25 Td ( in connection with the ) Tj ET Q q 0 0 0 rg BT 181.46 550.25 Td (T) Tj ET Q q 0 0 0 rg BT 187.22 550.25 Td (ransaction \(assuming that all shareholders elect to receive cash in connection with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 538.25 Td (ransaction\), which amount is expected to be used to pay the cash consideration to Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 460.93 538.25 Td (s shareholders and will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (be decreased proportionately if shareholders elect to receive consideration in shares of Holdings' common stock or securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (exchangeable for Holdings' common stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 490.25 Td (The ) Tj ET Q q 0 0 0 rg BT 94.87 490.25 Td (T) Tj ET Q q 0 0 0 rg BT 100.62 490.25 Td (ransaction has been approved by the stockholders of Sirius XM Canada and has received the required court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (approval. ) Tj ET Q q 0 0 0 rg BT 92.30 478.25 Td (The ) Tj ET Q q 0 0 0 rg BT 110.17 478.25 Td (T) Tj ET Q q 0 0 0 rg BT 115.93 478.25 Td (ransaction remains subject to receipt of Canadian Radio-T) Tj ET Q q 0 0 0 rg BT 348.20 478.25 Td (elevision and ) Tj ET Q q 0 0 0 rg BT 403.56 478.25 Td (T) Tj ET Q q 0 0 0 rg BT 408.97 478.25 Td (elecommunications Commission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (approval. Pending receipt of this approval, the ) Tj ET Q q 0 0 0 rg BT 239.77 466.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.52 466.25 Td (ransaction is expected to close in the fourth quarter of 2016.) Tj ET Q endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Results of Operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 724.25 Td (Set forth below are our results of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.16 724.25 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.80 724.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.63 724.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.89 724.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 712.25 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.36 712.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.18 712.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.45 712.25 Td (.) 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0.9333333333333333 1 rg /GS0 gs 425.50 621.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 621.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 621.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 621.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 621.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 621.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 591.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 591.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 591.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 591.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 591.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 591.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 591.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 591.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 591.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 561.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 561.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 561.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 561.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 561.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 561.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 561.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 561.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 561.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 561.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 531.75 110.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 531.75 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 531.75 32.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 481.75 110.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 481.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 481.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 481.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 481.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 481.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 481.75 36.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 481.75 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 481.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 481.75 32.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 431.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 431.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 431.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 431.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 431.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 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320.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 391.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 391.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 391.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 391.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 391.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 351.75 110.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 351.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 351.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 351.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 351.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 351.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 351.75 36.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 351.75 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 351.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 351.75 32.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 301.75 110.00 -15.00 re f 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 171.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 171.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 171.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 171.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 171.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 171.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 171.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 171.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 171.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 171.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 171.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 171.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 171.75 32.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 685.75 m 425.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 685.75 m 429.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 685.75 m 465.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 685.75 m 469.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 685.75 m 521.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 685.75 m 525.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 685.75 m 557.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 664.75 m 210.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 664.75 m 214.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 664.75 m 265.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 664.75 m 320.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 664.75 m 324.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 664.75 m 375.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 664.75 m 425.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 664.75 m 429.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 664.75 m 465.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 685.75 m 521.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 664.75 m 521.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 664.75 m 557.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 651.75 m 210.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 651.75 m 265.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 664.75 m 320.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 651.75 m 320.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 664.75 m 324.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 664.75 m 375.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 651.75 m 375.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 651.75 m 425.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 651.75 m 465.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 651.75 m 521.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 651.75 m 557.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 576.75 m 210.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 576.75 m 265.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 576.75 m 320.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 576.75 m 375.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 576.75 m 425.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 576.75 m 521.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 301.75 m 210.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 301.75 m 265.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 301.75 m 320.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 301.75 m 375.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 301.75 m 425.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 301.75 m 521.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 286.75 m 210.5 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 286.75 m 265.5 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 286.75 m 320.5 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 286.75 m 375.5 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 286.75 m 425.5 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 286.75 m 521.5 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 226.75 m 210.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 226.75 m 265.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 226.75 m 320.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 226.75 m 375.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 226.75 m 425.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 226.75 m 521.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 211.75 m 210.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 211.75 m 265.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 211.75 m 320.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 211.75 m 375.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 211.75 m 425.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 211.75 m 521.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 171.75 m 210.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 157.75 m 210.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 155.75 m 210.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 171.75 m 265.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 157.75 m 265.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 155.75 m 265.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 171.75 m 320.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 157.75 m 320.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 155.75 m 320.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 171.75 m 375.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 157.75 m 375.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 155.75 m 375.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 171.75 m 425.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 157.75 m 425.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 155.75 m 425.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 171.75 m 521.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 157.75 m 521.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 155.75 m 521.5 155.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.00 689.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.30 689.98 Td (2016 vs 2015 Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 162.20 676.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.60 668.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.25 676.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.60 668.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.70 668.98 Td (Three Months) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.85 668.98 Td (Nine Months) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.50 655.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.50 655.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.50 655.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.50 655.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.95 655.98 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.00 655.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.95 655.98 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.00 655.98 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 641.42 Td (Revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 626.42 Td (Subscriber revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.60 626.42 Td (1,069,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 626.42 Td (974,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 626.42 Td (3,112,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.60 626.42 Td (2,826,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 626.42 Td (95,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 626.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 626.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 626.42 Td (286,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 626.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 626.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 611.42 Td (Advertising revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 611.42 Td (34,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 611.42 Td (33,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 611.42 Td (99,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 611.42 Td (88,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 611.42 Td (1,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 611.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 611.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 611.42 Td (10,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 611.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 611.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 596.42 Td (Equipment revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 596.42 Td (31,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 596.42 Td (25,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 596.42 Td (86,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 596.42 Td (79,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 596.42 Td (5,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 596.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 596.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 596.42 Td (6,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 596.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 596.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 581.42 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 581.42 Td (142,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 581.42 Td (136,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 581.42 Td (415,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 581.42 Td (379,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 581.42 Td (6,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 581.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 581.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 581.42 Td (36,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 581.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 581.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 566.42 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.60 566.42 Td (1,277,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.60 566.42 Td (1,169,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 566.42 Td (3,714,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.60 566.42 Td (3,373,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.10 566.42 Td (107,934) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 566.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 566.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 566.42 Td (340,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 566.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 566.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 551.42 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 536.42 Td (Cost of services:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 521.42 Td (Revenue share and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 511.42 Td (royalties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 511.42 Td (272,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 511.42 Td (238,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 511.42 Td (788,952) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 511.42 Td (783,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 511.42 Td (34,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 511.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 511.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 511.42 Td (5,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 511.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 511.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 496.42 Td (Programming and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 486.42 Td (content) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 486.42 Td (89,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 486.42 Td (75,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 486.42 Td (257,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 486.42 Td (216,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 486.42 Td (13,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 486.42 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 486.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 486.42 Td (41,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 486.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 486.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 471.42 Td (Customer service) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 461.42 Td (and billing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 461.42 Td (94,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 461.42 Td (94,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 461.42 Td (285,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 461.42 Td (278,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 461.42 Td (431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 461.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 461.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 461.42 Td (6,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 461.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 461.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 446.42 Td (Satellite and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 436.42 Td (transmission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 436.42 Td (22,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 436.42 Td (22,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 436.42 Td (80,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 436.42 Td (65,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.30 436.47 Td (\(519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 436.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.95 436.42 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 436.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 436.42 Td (14,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 436.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 436.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 421.42 Td (Cost of equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.15 421.42 Td (9,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.15 421.42 Td (9,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 421.42 Td (29,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 421.42 Td (29,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 421.42 Td (428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 421.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 421.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 421.42 Td (160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 421.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 421.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 406.42 Td (Subscriber acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 396.42 Td (costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 396.42 Td (120,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 396.42 Td (133,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 396.42 Td (381,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 396.42 Td (391,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 396.47 Td (\(12,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 396.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.95 396.42 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 396.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 396.47 Td (\(10,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 396.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 396.42 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 396.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 381.42 Td (Sales and marketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 381.42 Td (99,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 381.42 Td (90,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 381.42 Td (279,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 381.42 Td (255,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 381.42 Td (8,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 381.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 381.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 381.42 Td (23,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 381.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 381.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 366.42 Td (Engineering, design and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 356.42 Td (development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 356.42 Td (19,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 356.42 Td (16,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 356.42 Td (57,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 356.42 Td (47,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 356.42 Td (3,122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 356.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 356.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 356.42 Td (10,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 356.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 356.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 341.42 Td (General and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 331.42 Td (administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 331.42 Td (90,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 331.42 Td (67,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 331.42 Td (249,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 331.42 Td (219,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 331.42 Td (23,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 331.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 331.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 331.42 Td (29,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 331.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 331.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 316.42 Td (Depreciation and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 306.42 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.15 306.42 Td (67,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 306.42 Td (70,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 306.42 Td (202,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 306.42 Td (202,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.80 306.47 Td (\(2,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 306.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.95 306.42 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 306.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.30 306.47 Td (\(312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 306.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 306.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 306.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 291.42 Td (Total operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 291.42 Td (885,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 291.42 Td (818,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 291.42 Td (2,611,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.60 291.42 Td (2,489,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 291.42 Td (67,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 291.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 291.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 291.42 Td (122,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 291.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 291.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 276.42 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 276.42 Td (392,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 276.42 Td (351,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 276.42 Td (1,102,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 276.42 Td (884,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 276.42 Td (40,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 276.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 276.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 276.42 Td (217,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 276.42 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 276.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 261.42 Td (Other income \(expense\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 246.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.80 246.42 Td (\(89,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.65 246.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.80 246.42 Td (\(76,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 246.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.80 246.47 Td (\(250,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 246.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.80 246.47 Td (\(221,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 246.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 246.47 Td (\(12,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 246.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.95 246.42 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 246.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 246.47 Td (\(28,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 246.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.95 246.42 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 246.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 231.42 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.15 231.42 Td (2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.15 231.42 Td (4,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 231.42 Td (15,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 231.42 Td (9,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.80 231.47 Td (\(1,763) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 231.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.95 231.42 Td (\(43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 231.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 231.42 Td (6,656) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 231.42 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 231.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 216.42 Td (Total other expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.80 216.42 Td (\(86,722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.65 216.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.80 216.42 Td (\(72,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 216.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.80 216.47 Td (\(235,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 216.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.80 216.47 Td (\(212,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 216.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 216.47 Td (\(14,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 216.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.95 216.42 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 216.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 216.47 Td (\(22,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 216.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.95 216.42 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 216.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 201.42 Td (Income before income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 191.42 Td (taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 191.42 Td (305,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 191.42 Td (279,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 191.42 Td (867,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 191.42 Td (671,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 191.42 Td (26,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 191.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 191.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 191.42 Td (195,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 191.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 191.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 176.42 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.80 176.42 Td (\(111,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.65 176.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.80 176.42 Td (\(112,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 176.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.80 176.47 Td (\(326,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 176.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.80 176.47 Td (\(296,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 176.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 176.42 Td (987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 176.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 176.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 176.47 Td (\(29,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 176.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.95 176.42 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 176.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 161.42 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 161.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.10 161.42 Td (193,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 161.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.10 161.42 Td (166,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 161.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 161.42 Td (541,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 161.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 161.42 Td (375,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 161.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 161.42 Td (27,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.30 161.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 161.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 161.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 161.42 Td (166,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 161.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 161.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 64.00 127.25 Td (T) Tj ET Q q 0 0 0 rg BT 69.19 127.25 Td (otal Revenue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 109.25 Td (Subscriber Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.19 109.25 Td (includes subscription, activation and other fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 85.25 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 85.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 85.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 85.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 85.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 85.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 85.25 Td (, subscriber revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.42 85.25 Td ($1,069,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.42 85.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.86 85.25 Td ($974,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.36 85.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 73.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 73.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 73.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.35 73.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 73.25 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.01 73.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 73.25 Td ($95,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.34 73.25 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.95 73.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.17 73.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.99 73.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.26 73.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.70 73.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.70 73.25 Td (, subscriber ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 61.25 Td (revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.20 61.25 Td ($3,1) Tj ET Q q 0 0 0 rg BT 146.33 61.25 Td (12,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.83 61.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.26 61.25 Td ($2,826,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.26 61.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 290.93 61.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.93 61.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.62 61.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.95 61.25 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.28 61.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.11 61.25 Td ($286,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.61 61.25 Td (. ) Tj ET Q q 0 0 0 rg BT 432.93 61.25 Td (The period over period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 49.25 Td (increase was primarily attributable to a 7% and 8% increase in daily weighted average number of subscribers for the ) Tj ET Q endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 742.10 Td (three and nine months ended September 30, 2016, respectively) Tj ET Q q 0 0 0 rg BT 327.39 742.10 Td (, as well as a 3% increase in average monthly revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 730.10 Td (per subscriber resulting from our price changes and mix of plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 706.10 Td (e expect subscriber revenues to increase based on the growth of our subscriber base, the ef) Tj ET Q q 0 0 0 rg BT 446.99 706.10 Td (fects of increases in certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (of our subscription rates and the sale of additional services to subscribers.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 670.10 Td (Advertising Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.97 670.10 Td (includes the sale of advertising on certain non-music channels.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 646.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 646.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 646.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 646.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 646.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 646.10 Td (, advertising revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.75 646.10 Td ($34,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.25 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.69 646.10 Td ($33,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.19 646.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 549.85 646.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 634.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.69 634.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.02 634.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.35 634.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.18 634.10 Td ($1,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.68 634.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.29 634.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.51 634.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.33 634.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.60 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.04 634.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.04 634.10 Td (, advertising revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 622.10 Td ($99,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 622.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.94 622.10 Td ($88,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.44 622.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 214.10 622.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.10 622.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.79 622.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.12 622.10 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.45 622.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.28 622.10 Td ($10,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.78 622.10 Td (. For the three months ended September 30, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 610.10 Td (the increase was primarily due to a greater number of advertising spots sold and transmitted, partially of) Tj ET Q q 0 0 0 rg BT 493.08 610.10 Td (fset by the loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 598.10 Td (of a significant advertiser due to state regulatory activities surrounding the fantasy sports industry) Tj ET Q q 0 0 0 rg BT 467.08 598.10 Td (. For the nine months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 586.10 Td (ended September 30, 2016, the increase was primarily due to a greater number of advertising spots sold and transmitted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 574.10 Td (as well as increased rates per spot.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 550.10 Td (e expect our advertising revenue to continue to grow as more advertisers are attracted to our national platform and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (growing subscriber base and as we launch additional non-music channels.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 514.10 Td (Equipment Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.19 514.10 Td (includes revenue and royalties from the sale of satellite radios, components and accessories.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 490.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 490.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 490.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 490.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 490.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 490.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 490.10 Td (, equipment revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.53 490.10 Td ($31,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.03 490.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.47 490.10 Td ($25,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.97 490.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 547.63 490.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 478.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.69 478.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.02 478.10 Td (21%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.35 478.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.18 478.10 Td ($5,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.68 478.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.29 478.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.51 478.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.33 478.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.60 478.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.04 478.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.04 478.10 Td (, equipment revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 466.10 Td ($86,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 466.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.94 466.10 Td ($79,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.44 466.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 214.10 466.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.10 466.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.79 466.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.12 466.10 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.45 466.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.28 466.10 Td ($6,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.78 466.10 Td (. ) Tj ET Q q 0 0 0 rg BT 341.10 466.10 Td (The period over period increase for the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 454.10 Td (and nine months ended September 30, 2016 was driven by an increase in OEM production and an increase in royalty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 442.10 Td (revenue on certain modules starting early in the second quarter of 2016, partially of) Tj ET Q q 0 0 0 rg BT 410.59 442.10 Td (fset by lower sales through our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 430.10 Td (aftermarket and direct to consumer businesses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 406.10 Td (e expect equipment revenue to fluctuate based on OEM production for which we receive royalty payments for our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (technology and, to a lesser extent, on the volume of equipment sales in our aftermarket and direct to consumer businesses.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 370.10 Td (Other Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.19 370.10 Td (includes amounts earned from subscribers for the U.S. Music Royalty Fee, and revenue from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (connected vehicle services, our Canadian af) Tj ET Q q 0 0 0 rg BT 225.29 358.10 Td (filiate and ancillary revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 334.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 334.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 334.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 334.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 334.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 334.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 334.10 Td (, other revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.87 334.10 Td ($142,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.37 334.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 334.10 Td ($136,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 334.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 535.96 334.10 Td (, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 322.10 Td (increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.08 322.10 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.41 322.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.24 322.10 Td ($6,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.74 322.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.35 322.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.57 322.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.39 322.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.66 322.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.10 322.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.10 322.10 Td (, other revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.34 322.10 Td ($415,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.84 322.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 310.10 Td ($379,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 310.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 167.16 310.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.16 310.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.85 310.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.18 310.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.51 310.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.34 310.10 Td ($36,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.84 310.10 Td (. ) Tj ET Q q 0 0 0 rg BT 304.16 310.10 Td (The period over period increase was primarily driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 298.10 Td (revenues from the U.S. Music Royalty Fee due to an increase in the number of subscribers and subscribers paying at a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 286.10 Td (higher rate. ) Tj ET Q q 0 0 0 rg BT 127.35 286.10 Td (These increases were of) Tj ET Q q 0 0 0 rg BT 222.95 286.10 Td (fset by lower activation revenues and a change in a programming contract in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 274.10 Td (third quarter of 2015 related to our Canadian af) Tj ET Q q 0 0 0 rg BT 266.19 274.10 Td (filiate and the timing of non-recurring engineering fees from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 262.10 Td (connected vehicle services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 238.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 238.10 Td (e expect other revenue to increase as our growing subscriber base drives higher U.S. Music Royalty Fees.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 64.00 208.10 Td (Operating Expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 190.10 Td (Revenue Shar) Tj ET Q q 0 0 0 rg BT 132.88 190.10 Td (e and Royalties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.03 190.10 Td (include distribution and content provider revenue share, royalties for transmitting content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (and web streaming, and advertising revenue share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 154.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 154.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 154.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 154.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 154.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 154.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 154.10 Td (, revenue share and royalties were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.17 154.10 Td ($272,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.67 154.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.10 154.10 Td ($238,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.60 154.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 142.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 142.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 142.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.35 142.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 142.10 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.01 142.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 142.10 Td ($34,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.34 142.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.28 142.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.04 142.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.46 142.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.68 142.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 130.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.26 130.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.70 130.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.70 130.10 Td (, revenue share and royalties were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.25 130.10 Td ($788,952) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.75 130.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.19 130.10 Td ($783,1) Tj ET Q q 0 0 0 rg BT 419.31 130.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.31 130.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 481.98 130.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.98 130.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.67 130.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 118.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.33 118.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.16 118.10 Td ($5,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.66 118.10 Td (, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.94 118.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.35 118.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 329.49 118.10 Td (The increase for the three and nine month period was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 106.10 Td (due to overall greater revenues subject to royalty and revenue sharing arrangements, and a 5% increase in the statutory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 94.10 Td (royalty rate applicable to our use of post-1972 recordings. ) Tj ET Q q 0 0 0 rg BT 313.69 94.10 Td (The increase in the nine month period was mitigated by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 82.10 Td (impact of $1) Tj ET Q q 0 0 0 rg BT 127.17 82.10 Td (16,639 in expense recorded during the nine months ended September 30, 2015 for the portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 70.10 Td ($210,000 settlement of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 186.1455078125 68.76699218750002 m 389.63671875 68.76699218750002 l s q 0 0 0 rg BT 186.15 70.10 Td (Capitol Records LLC et al. v) Tj ET Q q 0 0 0 rg BT 301.03 70.10 Td (. Sirius XM Radio Inc) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.64 70.10 Td (. lawsuit related to our use of pre-1972 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 58.10 Td (sound recordings through September 30, 2015. ) Tj ET Q q 0 0 0 rg BT 269.29 58.10 Td (W) Tj ET Q q 0 0 0 rg BT 277.93 58.10 Td (e have recorded approximately $29,654 related to this settlement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 46.10 Td (through the nine months ended September 30, 2016.) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 742.10 Td (e expect our revenue share and royalty costs to increase as our revenues grow and as the statutory royalty rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (applicable to post-1972 sound recordings increases. For the remainder of 2016 and in 2017, we expect to recognize $10,154 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (and $43,442, respectively) Tj ET Q q 0 0 0 rg BT 152.10 718.10 Td (, in expense related to the settlement relating to the use of pre-1972 sound recordings. ) Tj ET Q q 0 0 0 rg BT 499.22 718.10 Td (As determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (by the Copyright Royalty Board, we have paid or will pay royalties for the use of certain post-1972 sound recordings on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (satellite radio service of 10.0%, 10.5% and 1) Tj ET Q q 0 0 0 rg BT 229.02 694.10 Td (1% in 2015, 2016 and 2017, respectively) Tj ET Q q 0 0 0 rg BT 392.23 694.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 670.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 87.63 670.10 Td (ogramming and Content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.91 670.10 Td (includes costs to acquire, create, promote and produce content. ) Tj ET Q q 0 0 0 rg BT 441.52 670.10 Td (W) Tj ET Q q 0 0 0 rg BT 450.16 670.10 Td (e have entered into various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (agreements with third parties for music and non-music programming that require us to pay license fees and other amounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 634.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 634.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 634.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 634.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 634.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 634.10 Td (, programming and content expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.95 634.10 Td ($89,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.45 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 622.10 Td ($75,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 622.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.16 622.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.16 622.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.85 622.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.18 622.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.51 622.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.34 622.10 Td ($13,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.84 622.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.78 622.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.54 622.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.96 622.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.18 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 610.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.33 610.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.59 610.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 610.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.03 610.10 Td (, programming and content expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.36 610.10 Td ($257,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.86 610.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 610.10 Td ($216,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.80 610.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 598.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 598.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 598.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.35 598.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 598.10 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.01 598.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 598.10 Td ($41,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.34 598.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.28 598.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.04 598.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 450.17 598.10 Td (The period over period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 586.10 Td (increases were primarily due to renewed programming licenses as well as increased personnel related costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 562.10 Td (e expect our programming and content expenses to increase as we of) Tj ET Q q 0 0 0 rg BT 360.08 562.10 Td (fer additional programming, and renew or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (replace expiring agreements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 526.10 Td (Customer Service and Billing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.54 526.10 Td (includes costs associated with the operation and management of internal and third party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (customer service centers, and our subscriber management systems as well as billing and collection costs, bad debt expense, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (and transaction fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 478.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 478.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 478.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 478.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 478.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 478.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 478.10 Td (, customer service and billing expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.67 478.10 Td ($94,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.17 478.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 466.10 Td ($94,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 466.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.16 466.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.16 466.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.85 466.10 Td ( of less than 1%, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.56 466.10 Td ($431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.56 466.10 Td (, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.84 466.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.25 466.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.68 466.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.90 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 454.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.33 454.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.59 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 454.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.03 454.10 Td (, customer services and billing expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.97 454.10 Td ($285,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.47 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.91 454.10 Td ($278,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.41 454.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 442.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 442.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 442.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.35 442.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 442.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.01 442.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.84 442.10 Td ($6,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.34 442.10 Td (, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.62 442.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.04 442.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 440.17 442.10 Td (The period over period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 430.10 Td (increases were primarily due to costs associated with a higher subscriber base driving greater bad debt expenses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 418.10 Td (transaction fees, and call center costs, partially of) Tj ET Q q 0 0 0 rg BT 274.24 418.10 Td (fset by lower personnel related costs and classifying wireless ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 406.10 Td (transmission costs related to our connected vehicle services to Satellite and transmission expense in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 382.10 Td (e expect our customer service and billing expenses to increase as our subscriber base grows.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 358.10 Td (Satellite and T) Tj ET Q q 0 0 0 rg BT 135.78 358.10 Td (ransmission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.62 358.10 Td (consists of costs associated with the operation and maintenance of our terrestrial repeater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (networks; satellites; satellite telemetry) Tj ET Q q 0 0 0 rg BT 202.92 346.10 Td (, tracking and control systems; satellite uplink facilities; studios; and delivery of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Internet streaming and connected vehicle services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 310.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 310.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 310.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 310.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 310.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 310.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 310.10 Td (, satellite and transmission expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.74 310.10 Td ($22,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.24 310.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 298.10 Td ($22,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 298.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.16 298.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.16 298.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.51 298.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 298.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.17 298.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 298.10 Td ($519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.00 298.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.94 298.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.36 298.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.78 298.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 298.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 286.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.38 286.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.64 286.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.08 286.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.08 286.10 Td (, satellite and transmission expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.20 286.10 Td ($80,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.70 286.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.14 286.10 Td ($65,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.64 286.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 529.30 286.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 286.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 274.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.75 274.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.08 274.10 Td (23%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.41 274.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.24 274.10 Td ($14,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.74 274.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.68 274.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.44 274.10 Td ( as a percentage of revenue. ) Tj ET Q q 0 0 0 rg BT 365.30 274.10 Td (The decrease in the three month period was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 262.10 Td (driven primarily by lower web streaming costs from insourcing certain activities and repeater costs, of) Tj ET Q q 0 0 0 rg BT 485.86 262.10 Td (fset by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 250.10 Td (inclusion of wireless transmission costs related to our connected vehicle services that were previously recorded to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 238.10 Td (Customer service and billing expense in 2015. ) Tj ET Q q 0 0 0 rg BT 267.06 238.10 Td (The increase for the nine month period was primarily due to the loss on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 226.10 Td (disposal of certain obsolete satellite parts of $12,912, recorded in the three months ended June 30, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 202.10 Td (e expect satellite and transmission expenses, net of losses on disposals of assets, to remain relatively flat.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 178.10 Td (Cost of Equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.94 178.10 Td (includes costs from the sale of satellite radios, components and accessories and provisions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (inventory allowance attributable to products purchased for resale in our direct to consumer distribution channels.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 142.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 142.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 142.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 142.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 142.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 142.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 142.10 Td (, cost of equipment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.82 142.10 Td ($9,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.32 142.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.76 142.10 Td ($9,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.26 142.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 532.92 142.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.92 142.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 130.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.75 130.10 Td ( of 5%, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.24 130.10 Td ($428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.24 130.10 Td (, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.52 130.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.94 130.10 Td ( as a percentage of equipment revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.80 130.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.02 130.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 118.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.26 118.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.70 118.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.70 118.10 Td (, cost of equipment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.90 118.10 Td ($29,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.40 118.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.84 118.10 Td ($29,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.34 118.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 431.00 118.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 118.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.70 118.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.03 118.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.36 118.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.19 118.10 Td ($160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.19 118.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 106.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.28 106.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.69 106.10 Td ( as a percentage of equipment revenue.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 82.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 82.10 Td (e expect cost of equipment to fluctuate with changes in sales and inventory valuations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 58.10 Td (Subscriber ) Tj ET Q q 0 0 0 rg BT 123.65 58.10 Td (Acquisition Costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.43 58.10 Td (include hardware subsidies paid to radio manufacturers, distributors and automakers; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (subsidies paid for chipsets and certain other components used in manufacturing radios; device royalties for certain radios and ) Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (chipsets; commissions paid to automakers and retailers; product warranty obligations; freight; and provisions for inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (allowances attributable to inventory consumed in our OEM and retail distribution channels. ) Tj ET Q q 0 0 0 rg BT 418.34 730.10 Td (The majority of subscriber ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (acquisition costs are incurred and expensed in advance of, or concurrent with, acquiring a subscriber) Tj ET Q q 0 0 0 rg BT 451.52 718.10 Td (. Subscriber acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (costs do not include advertising costs, marketing, loyalty payments to distributors and dealers of satellite radios or revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (share payments to automakers and retailers of satellite radios.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 670.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 670.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 670.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 670.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 670.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 670.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 670.10 Td (, subscriber acquisition costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.03 670.10 Td ($120,1) Tj ET Q q 0 0 0 rg BT 475.16 670.10 Td (1) Tj ET Q q 0 0 0 rg BT 479.79 670.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.79 670.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.23 670.10 Td ($133,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.73 670.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 658.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 658.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 658.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.01 658.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.34 658.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.67 658.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.50 658.10 Td ($12,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 658.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.94 658.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.36 658.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.78 658.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 658.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 646.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.26 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.70 646.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.70 646.10 Td (, subscriber acquisition costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.11 646.10 Td ($381,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.61 646.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.05 646.10 Td (391,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.55 646.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 483.21 646.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.21 646.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.56 646.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 634.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.33 634.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.16 634.10 Td ($10,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.66 634.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.60 634.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.01 634.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 336.15 634.10 Td (The period over period decrease for the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 622.10 Td (ended September 30, 2016 was driven by lower OEM hardware subsidies, a contractual reduction to a subsidy rate, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 610.10 Td (lower subsidized costs related to the transition of chipsets, partially of) Tj ET Q q 0 0 0 rg BT 356.47 610.10 Td (fset by higher radio installations. ) Tj ET Q q 0 0 0 rg BT 492.65 610.10 Td (The period over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 598.10 Td (period decrease for the nine months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.88 598.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.14 598.10 Td ( was driven by a contractual reduction to a subsidy rate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 586.10 Td (and lower subsidized costs related to the transition of chipsets, partially of) Tj ET Q q 0 0 0 rg BT 373.41 586.10 Td (fset by higher radio installations and related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 574.10 Td (OEM hardware subsidies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 550.10 Td (e expect subscriber acquisition costs to fluctuate with OEM installations and aftermarket volume; however) Tj ET Q q 0 0 0 rg BT 512.06 550.10 Td (, the cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (of subsidized radio components is expected to decline. ) Tj ET Q q 0 0 0 rg BT 273.09 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 281.73 538.10 Td (e intend to continue to of) Tj ET Q q 0 0 0 rg BT 381.80 538.10 Td (fer subsidies, commissions and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (incentives to acquire subscribers.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 502.10 Td (Sales and Marketing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.26 502.10 Td (includes costs for marketing, advertising, media and production, including promotional events and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (sponsorships; cooperative marketing; and personnel. Marketing costs include expenses related to direct mail, outbound ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (telemarketing and email communications.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 454.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 454.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 454.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 454.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 454.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 454.10 Td (, sales and marketing expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.07 454.10 Td ($99,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.57 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.01 454.10 Td ($90,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.51 454.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 442.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 442.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 442.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.35 442.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 442.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.01 442.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 442.10 Td ($8,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.34 442.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.28 442.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.04 442.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.46 442.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.68 442.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 430.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.26 430.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.70 430.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.70 430.10 Td (, sales and marketing expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 430.10 Td ($279,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 430.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.09 430.10 Td ($255,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.59 430.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 491.25 430.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.25 430.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.94 430.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 418.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.33 418.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.16 418.10 Td ($23,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.66 418.10 Td (, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.94 418.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.35 418.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 334.49 418.10 Td (The period over period increases for the three and nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 406.10 Td (months ended September 30, 2016 were primarily due to increased subscriber retention and acquisition campaigns ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 394.10 Td (related to our subscriber growth as well as higher personnel costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 370.10 Td (e anticipate that sales and marketing expenses will increase as we expand programs to retain our existing subscribers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (win back former subscribers and attract new subscribers. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 334.10 Td (Engineering, Design and Development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.02 334.10 Td (consists primarily of compensation and related costs to develop chipsets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (new products and services, including streaming and connected vehicle services, research and development for broadcast ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (information systems and costs associated with the incorporation of our radios into new vehicles manufactured by automakers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 286.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 286.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 286.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 286.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 286.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 286.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 286.10 Td (, engineering, design and development expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 274.10 Td ($19,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 274.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.94 274.10 Td ($16,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.44 274.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 214.10 274.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.10 274.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.79 274.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.12 274.10 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.45 274.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.28 274.10 Td ($3,122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.78 274.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.72 274.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.47 274.10 Td ( as a percentage of total revenue. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 262.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.72 262.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.93 262.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.76 262.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.02 262.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.46 262.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.46 262.10 Td (, engineering, design and development expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.89 262.10 Td ($57,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.39 262.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 250.10 Td ($47,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 250.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.16 250.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.16 250.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.85 250.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.18 250.10 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.51 250.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.34 250.10 Td ($10,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.84 250.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.78 250.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.54 250.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 487.67 250.10 Td (The period over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 238.10 Td (period increases for the three and nine months ended September 30, 2016 were driven primarily by the inclusion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 226.10 Td (personnel related costs from our connected vehicle services that were previously recorded in Sales and marketing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 214.10 Td (General and administrative expense in 2015, partially of) Tj ET Q q 0 0 0 rg BT 301.75 214.10 Td (fset by lower research and development costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 190.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 190.10 Td (e expect engineering, design and development expenses to increase in future periods as we continue to develop our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (infrastructure, products and services.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 154.10 Td (General and ) Tj ET Q q 0 0 0 rg BT 130.59 154.10 Td (Administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.97 154.10 Td (primarily consists of compensation and related costs for personnel and facilities, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (include costs related to our finance, legal, human resources and information technologies departments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 118.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 118.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 118.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 118.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 118.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 118.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 118.10 Td (, general and administrative expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.72 118.10 Td ($90,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.22 118.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 106.10 Td ($67,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 106.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.16 106.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.16 106.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.85 106.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.18 106.10 Td (34%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.51 106.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.34 106.10 Td ($23,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.84 106.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.78 106.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.54 106.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.96 106.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.18 106.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 94.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.33 94.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.59 94.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 94.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.03 94.10 Td (, general and administrative expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.12 94.10 Td ($249,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.62 94.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.06 94.10 Td ($219,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.56 94.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 82.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 82.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 82.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.35 82.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 82.10 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.01 82.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 82.10 Td ($29,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.34 82.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.28 82.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.04 82.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 450.17 82.10 Td (The period over period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 70.10 Td (increases for the three and nine months ended September 30, 2016 were primarily driven by higher consulting and legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 58.10 Td (costs. Costs in the three months ended September 30, 2015, benefited from insurance recoveries related to a legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 46.10 Td (settlement.) Tj ET Q endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 742.10 Td (e expect our general and administrative expenses to increase in future periods as a result of, among other things, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (enhanced information technology) Tj ET Q q 0 0 0 rg BT 183.75 730.10 Td (, on-going legal costs and personnel costs to support the growth of our business.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 706.10 Td (Depr) Tj ET Q q 0 0 0 rg BT 98.18 706.10 Td (eciation and ) Tj ET Q q 0 0 0 rg BT 150.21 706.10 Td (Amortization ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.94 706.10 Td (represents the recognition in earnings of the cost of assets used in operations, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (our satellite constellations, property) Tj ET Q q 0 0 0 rg BT 192.65 694.10 Td (, equipment and intangible assets, over their estimated service lives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 670.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 670.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 670.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 670.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 670.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 670.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 670.10 Td (, depreciation and amortization expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.27 670.10 Td ($67,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.77 670.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 658.10 Td ($70,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 658.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.16 658.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.16 658.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.51 658.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 658.10 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.17 658.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 658.10 Td ($2,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 658.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.44 658.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.86 658.10 Td ( as a percentage of total revenue. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.28 658.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.50 658.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 646.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.38 646.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.64 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.08 646.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.08 646.10 Td (, depreciation and amortization expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.73 646.10 Td ($202,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.23 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.67 646.10 Td ($202,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.17 646.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 549.83 646.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 634.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.35 634.10 Td ( of less than 1%, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.06 634.10 Td ($312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.06 634.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 634.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.41 634.10 Td ( as a percentage of total revenue. ) Tj ET Q q 0 0 0 rg BT 415.55 634.10 Td (The decrease for the three month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 622.10 Td (period was driven by certain satellites and software reaching the end of their estimated lives in 2015, partially of) Tj ET Q q 0 0 0 rg BT 526.39 622.10 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 610.10 Td (additional software and terrestrial repeater assets placed in service.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 64.00 580.10 Td (Other Income \(Expense\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 562.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 97.07 562.10 Td (est Expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.49 562.10 Td (includes interest on outstanding debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 538.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 538.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 538.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 538.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 538.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 538.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 538.10 Td (, interest expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.31 538.10 Td ($89,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.81 538.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.25 538.10 Td ($76,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.75 538.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 535.41 538.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.41 538.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 526.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.75 526.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.08 526.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.41 526.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.24 526.10 Td ($12,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.74 526.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.35 526.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.57 526.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.39 526.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.66 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.10 526.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 526.10 Td (, interest expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.79 526.10 Td ($250,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.29 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 514.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.94 514.10 Td ($221,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.44 514.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 184.10 514.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.10 514.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.79 514.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.12 514.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.45 514.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.28 514.10 Td ($28,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.78 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 321.10 514.10 Td (The increase was primarily due to higher average debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 502.10 Td (during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.33 502.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.31 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.75 502.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.97 502.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.79 502.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.05 502.10 Td ( compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.47 502.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.46 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.90 502.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.11 502.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 490.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.26 490.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 466.10 Td (e expect interest expense to increase in future periods to the extent our total debt outstanding increases.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 442.10 Td (Other Income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.76 442.10 Td (primarily) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.97 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.47 442.10 Td (includes realized gains and losses, interest income, and our share of the income or loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Sirius XM Canada.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 406.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 406.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 406.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 406.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 406.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 406.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 406.10 Td (, interest and investment income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.86 406.10 Td ($2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.36 406.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 406.10 Td ($4,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 406.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 394.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 394.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.27 394.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.49 394.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.31 394.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.58 394.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.01 394.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.01 394.10 Td (, interest and investment income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.25 394.10 Td ($15,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.75 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 382.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.94 382.10 Td ($9,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.44 382.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 174.10 382.10 Td (. ) Tj ET Q q 0 0 0 rg BT 181.42 382.10 Td (The income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.28 382.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.92 382.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.74 382.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.01 382.10 Td ( was driven by our share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 370.10 Td (of Sirius XM Canada) Tj ET Q q 0 0 0 rg BT 165.05 370.10 Td (s net income. ) Tj ET Q q 0 0 0 rg BT 222.91 370.10 Td (The nine months ended September 30, 2016 also included dividends received from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 358.10 Td (Sirius XM Canada in excess of our investment. Pursuant to the ) Tj ET Q q 0 0 0 rg BT 332.80 358.10 Td (Arrangement ) Tj ET Q q 0 0 0 rg BT 387.50 358.10 Td (Agreement, Sirius XM Canada did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 346.10 Td (pay any dividends during the three months ended September 30, 2016. ) Tj ET Q q 0 0 0 rg BT 363.98 346.10 Td (The income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.84 346.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.48 346.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 334.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.26 334.10 Td ( was driven by the dividends received from Sirius XM Canada in excess of our investment.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 64.00 304.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 102.80 304.10 Td (axes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 286.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 114.57 286.10 Td (ax Expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.33 286.10 Td (includes the change in our deferred tax assets, foreign withholding taxes and current federal and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (state tax expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 250.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 250.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 250.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 250.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 250.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 250.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 250.10 Td (, income tax expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.03 250.10 Td ($1) Tj ET Q q 0 0 0 rg BT 422.66 250.10 Td (1) Tj ET Q q 0 0 0 rg BT 427.29 250.10 Td (1,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.79 250.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.23 250.10 Td ($1) Tj ET Q q 0 0 0 rg BT 478.86 250.10 Td (12,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.36 250.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 238.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 238.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.27 238.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.49 238.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.31 238.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.58 238.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.01 238.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.01 238.10 Td (, income tax expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.42 238.10 Td ($326,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.92 238.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 226.10 Td ($296,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 226.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 167.16 226.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 202.10 Td (Our ef) Tj ET Q q 0 0 0 rg BT 102.64 202.10 Td (fective tax rate for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.42 202.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.06 202.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.89 202.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 202.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.70 202.10 Td (36.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.53 202.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.97 202.10 Td (37.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.80 202.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 535.46 202.10 Td (. ) Tj ET Q q 0 0 0 rg BT 542.78 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 551.42 202.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 190.10 Td (estimate our annual ef) Tj ET Q q 0 0 0 rg BT 165.39 190.10 Td (fective tax rate for the year ending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.60 190.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.18 190.10 Td ( will be approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.94 190.10 Td (32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.27 190.10 Td ( as we expect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 178.10 Td (to recognize a Federal R&D tax credit in the fourth quarter of 2016 relating to the Protecting ) Tj ET Q q 0 0 0 rg BT 449.38 178.10 Td (Americans from ) Tj ET Q q 0 0 0 rg BT 516.96 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 522.37 178.10 Td (ax Hikes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 166.10 Td (Act of 2015. Our ef) Tj ET Q q 0 0 0 rg BT 157.91 166.10 Td (fective tax rate for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.69 166.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.33 166.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.16 166.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.42 166.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.97 166.10 Td (40.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 166.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.24 166.10 Td (44.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.07 166.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 154.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 154.10 Td (. Our ef) Tj ET Q q 0 0 0 rg BT 157.80 154.10 Td (fective tax rate for the nine months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.62 154.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.89 154.10 Td ( was impacted by tax law changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 142.10 Td (the District of Columbia and New ) Tj ET Q q 0 0 0 rg BT 214.93 142.10 Td (Y) Tj ET Q q 0 0 0 rg BT 221.16 142.10 Td (ork City) Tj ET Q q 0 0 0 rg BT 253.56 142.10 Td (. ) Tj ET Q q 0 0 0 rg BT 260.88 142.10 Td (The tax law change in the District of Columbia will reduce our future tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 130.10 Td (and thus we will use less of certain net operating losses in the future which resulted in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.24 130.10 Td ($44,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.74 130.10 Td ( increase in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 118.10 Td (valuation allowance during the three months ended March 31, 2015. ) Tj ET Q q 0 0 0 rg BT 354.80 118.10 Td (The tax law change in New ) Tj ET Q q 0 0 0 rg BT 466.60 118.10 Td (Y) Tj ET Q q 0 0 0 rg BT 472.83 118.10 Td (ork City will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 106.10 Td (increase certain net operating losses to be utilized in the future which resulted in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.72 106.10 Td ($14,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.22 106.10 Td ( increase in our deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 94.10 Td (asset during the three months ended June 30, 2015.) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Key Financial and Operating Performance Metrics) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 724.25 Td (In this section, we present certain financial performance measures that are not calculated and presented in accordance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (with generally accepted accounting principles in the United States \(Non-GAAP\), which include free cash flow and adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (EBITDA. ) Tj ET Q q 0 0 0 rg BT 93.98 700.25 Td (W) Tj ET Q q 0 0 0 rg BT 102.62 700.25 Td (e also present certain operating performance measures, which include average monthly revenue per subscriber) Tj ET Q q 0 0 0 rg BT 543.14 700.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (ARPU; customer service and billing expenses, per average subscriber; and subscriber acquisition cost, or SAC, per installation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 676.25 Td (o the extent applicable, these measures exclude the impact of share-based payment expense and certain purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (accounting adjustments related to the mer) Tj ET Q q 0 0 0 rg BT 216.71 664.25 Td (ger of Sirius and XM \(the "Mer) Tj ET Q q 0 0 0 rg BT 342.81 664.25 Td (ger"\). ) Tj ET Q q 0 0 0 rg BT 369.94 664.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 419.84 664.25 Td (, when applicable, our adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 86.11 652.25 Td ( and free cash flow metrics exclude the ef) Tj ET Q q 0 0 0 rg BT 252.51 652.25 Td (fect of significant items that do not relate to the on-going performance of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (business.) Tj ET Q q 0 0 0 rg BT 91.21 640.25 Td (W) Tj ET Q q 0 0 0 rg BT 99.85 640.25 Td (e use these Non-GAAP) Tj ET Q q 0 0 0 rg BT 193.07 640.25 Td ( financial and operating performance measures to manage our business, to set operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (goals and as a basis for determining performance-based compensation for our employees. See accompanying glossary on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.27 616.25 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.27 616.25 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.38 616.25 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.38 616.25 Td ( for more details and for the reconciliation to the most directly comparable GAAP) Tj ET Q q 0 0 0 rg BT 458.96 616.25 Td ( measure \(where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (applicable\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 580.25 Td (W) Tj ET Q q 0 0 0 rg BT 86.64 580.25 Td (e believe these Non-GAAP) Tj ET Q q 0 0 0 rg BT 195.40 580.25 Td ( financial and operating performance measures provide useful information to investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (regarding our financial condition and results of operations. ) Tj ET Q q 0 0 0 rg BT 287.25 568.25 Td (W) Tj ET Q q 0 0 0 rg BT 295.89 568.25 Td (e believe investors find these Non-GAAP) Tj ET Q q 0 0 0 rg BT 461.87 568.25 Td ( financial and operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (performance measures useful in evaluating our core trends because they provide a direct view of our underlying contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (costs. ) Tj ET Q q 0 0 0 rg BT 74.82 544.25 Td (W) Tj ET Q q 0 0 0 rg BT 83.46 544.25 Td (e believe investors use our adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 263.97 544.25 Td ( to estimate our current enterprise value and to make investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (decisions. ) Tj ET Q q 0 0 0 rg BT 92.04 532.25 Td (W) Tj ET Q q 0 0 0 rg BT 100.67 532.25 Td (e believe free cash flow provides useful supplemental information to investors regarding our cash available for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (future subscriber acquisition and capital expenditures, to repurchase or retire debt, to acquire other companies and to evaluate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (our ability to return capital to stockholders. By providing these Non-GAAP) Tj ET Q q 0 0 0 rg BT 354.02 508.25 Td ( financial and operating performance measures, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (together with the reconciliations to the most directly comparable GAAP) Tj ET Q q 0 0 0 rg BT 337.61 496.25 Td ( measure \(where applicable\), we believe we are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (enhancing investors' understanding of our business and our results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 460.25 Td (Our Non-GAAP) Tj ET Q q 0 0 0 rg BT 143.46 460.25 Td ( financial measures should be viewed in addition to, and not as an alternative for or superior to, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (reported results prepared in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 256.04 448.25 Td (.In addition, our Non-GAAP) Tj ET Q q 0 0 0 rg BT 375.38 448.25 Td ( financial measures may not be comparable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (similarly-titled measures by other companies.Please refer to the glossary \(pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.29 436.25 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.29 436.25 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.40 436.25 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.40 436.25 Td (\) for a further discussion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (such Non-GAAP) Tj ET Q q 0 0 0 rg BT 118.24 424.25 Td ( financial and operating performance measures and reconciliations to the most directly comparable GAAP) Tj ET Q q 0 0 0 rg BT 542.44 424.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (measure \(where applicable\). Subscribers and subscription related revenues and expenses associated with our connected vehicle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (services are not included in our subscriber count or subscriber) Tj ET Q q 0 0 0 rg BT 297.78 400.25 Td (-based operating metrics.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 376.25 Td (Set forth below are our subscriber balances as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.88 376.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.14 376.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.84 376.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.10 376.25 Td (: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 335.75 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 335.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 335.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 335.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 335.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 335.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 335.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 335.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 305.75 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 305.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 305.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 305.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 305.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 305.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 305.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 305.75 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 350.75 m 358.5 350.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 350.75 m 362.5 350.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 350.75 m 426.5 350.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 350.75 m 494.5 350.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 350.75 m 498.5 350.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 350.75 m 562.5 350.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 335.75 m 358.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 335.75 m 426.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 335.75 m 494.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 335.75 m 562.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 335.75 m 358.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 335.75 m 426.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 335.75 m 494.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 335.75 m 562.5 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 305.75 m 358.5 305.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 291.75 m 358.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 289.75 m 358.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 305.75 m 426.5 305.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 291.75 m 426.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 289.75 m 426.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 305.75 m 494.5 305.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 291.75 m 494.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 289.75 m 494.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 305.75 m 562.5 305.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 291.75 m 562.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 289.75 m 562.5 289.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 355.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 321.55 355.20 Td (As of September 30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.85 355.20 Td (2016 vs 2015 Change) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 340.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 340.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.00 340.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.20 340.20 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.50 340.20 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 325.21 Td (Self-pay subscribers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.25 325.21 Td (25,528) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 325.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.25 325.21 Td (23,816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 325.21 Td (1,712) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 325.21 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 325.21 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 310.21 Td (Paid promotional subscribers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.75 310.21 Td (5,463) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 310.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.75 310.21 Td (5,143) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.50 310.21 Td (320) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 310.21 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 310.21 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 295.21 Td (Ending subscribers ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 123.99 299.29 Td (\(a\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.25 295.21 Td (30,991) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 295.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.25 295.21 Td (28,960) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 295.21 Td (2,031) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 295.21 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 295.21 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 280.45 Td (\(a\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 280.45 Td (Amounts may not sum as a result of rounding.) Tj ET Q endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 742.10 Td (The following table contains our Non-GAAP) Tj ET Q q 0 0 0 rg BT 257.43 742.10 Td ( financial and operating performance measures which are based on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (adjusted results of operations for the three and nine months ended September30, 2016 and 2015:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 672.60 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 672.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 672.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 672.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 672.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 672.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 672.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 672.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 672.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.60 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 634.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 634.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 634.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 634.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 634.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 634.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 634.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 634.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.60 108.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 596.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 596.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 596.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 596.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 596.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 596.60 40.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 596.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 596.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 596.60 40.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 550.60 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 550.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 550.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 550.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 550.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 550.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 550.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 550.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 550.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 550.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 520.60 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 520.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 520.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 520.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 520.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 520.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 520.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 520.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 520.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 520.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 473.60 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 473.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 473.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 473.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 473.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 473.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 473.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 473.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 473.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 473.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 443.60 108.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 443.60 50.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 443.60 50.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 443.60 50.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 443.60 50.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 443.60 48.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 443.60 40.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 443.60 48.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 443.60 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 443.60 40.00 -32.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 706.6 m 422.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 706.6 m 426.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 706.6 m 466.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 706.6 m 470.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 706.6 m 518.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 706.6 m 522.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 706.6 m 562.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 685.6 m 208.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 685.6 m 212.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 685.6 m 262.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 685.6 m 316.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 685.6 m 320.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 685.6 m 370.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 685.6 m 422.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 685.6 m 426.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 685.6 m 466.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 685.6 m 518.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 685.6 m 522.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 685.6 m 562.5 685.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 672.6 m 208.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 672.6 m 262.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 672.6 m 316.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 672.6 m 370.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 672.6 m 422.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 672.6 m 466.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 672.6 m 518.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 672.6 m 562.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 634.6 m 208.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 634.6 m 316.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 634.6 m 208.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 620.6 m 208.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 618.6 m 208.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 634.6 m 262.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 620.6 m 262.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 618.6 m 262.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 634.6 m 316.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 620.6 m 316.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 618.6 m 316.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 634.6 m 370.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 620.6 m 370.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 618.6 m 370.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 634.6 m 422.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 620.6 m 422.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 618.6 m 422.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 634.6 m 466.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 620.6 m 466.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.6 m 466.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 634.6 m 518.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 620.6 m 518.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 618.6 m 518.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 634.6 m 562.5 634.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 620.6 m 562.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 618.6 m 562.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 618.6 m 208.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 620.6 m 208.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 597.6 m 208.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 595.6 m 208.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 597.6 m 262.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 595.6 m 262.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 618.6 m 316.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 620.6 m 316.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 597.6 m 316.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 595.6 m 316.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 597.6 m 370.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 595.6 m 370.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 618.6 m 422.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 620.6 m 422.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 597.6 m 422.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 595.6 m 422.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.6 m 466.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 620.6 m 466.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 597.6 m 466.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 595.6 m 466.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 618.6 m 518.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 620.6 m 518.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 597.6 m 518.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 595.6 m 518.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 618.6 m 562.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 620.6 m 562.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 597.6 m 562.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 595.6 m 562.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 574.6 m 208.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 572.6 m 208.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 574.6 m 262.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 572.6 m 262.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 574.6 m 316.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 572.6 m 316.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 574.6 m 370.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 572.6 m 370.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 574.6 m 422.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 572.6 m 422.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 595.6 m 466.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 597.6 m 466.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 574.6 m 466.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 572.6 m 466.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 574.6 m 518.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 572.6 m 518.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 574.6 m 562.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 572.6 m 562.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 572.6 m 208.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 574.6 m 208.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 551.6 m 208.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 549.6 m 208.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 551.6 m 262.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 549.6 m 262.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 572.6 m 316.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 574.6 m 316.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 551.6 m 316.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 549.6 m 316.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 551.6 m 370.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 549.6 m 370.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 551.6 m 422.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 549.6 m 422.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 551.6 m 466.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 549.6 m 466.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 551.6 m 518.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 549.6 m 518.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 551.6 m 562.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 549.6 m 562.5 549.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.00 711.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 711.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.85 711.00 Td (2016 vs 2015 Change) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 167.60 698.00 Td (For the Three Months) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 168.95 689.00 Td (Ended September 30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 277.95 698.00 Td (For the Nine Months) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 276.95 689.00 Td (Ended September 30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 392.70 690.05 Td (Three Months) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 491.10 690.05 Td (Nine Months) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 174.00 677.00 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 228.00 677.00 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 282.00 677.00 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.00 677.00 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.20 677.00 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.50 677.00 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.20 677.00 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 537.50 677.00 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 662.06 Td (Self-pay subscribers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 187.00 662.06 Td (385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.00 662.06 Td (381) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.25 662.06 Td (1,240) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.25 662.06 Td (1,293) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 662.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 662.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 662.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 662.06 Td (\(53) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 662.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.00 662.06 Td (\(4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 662.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 648.06 Td (Paid promotional) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 639.06 Td (subscribers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.50 639.06 Td (\(39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.00 639.06 Td (145) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.00 639.06 Td (157) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.00 639.06 Td (355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 639.06 Td (\(184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 639.06 Td (\(127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 639.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 639.06 Td (\(198) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.50 639.06 Td (\(56) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 639.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 624.06 Td (Net additions ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 103.49 628.14 Td (\(a\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 187.00 624.06 Td (345) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.00 624.06 Td (525) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.25 624.06 Td (1,397) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.25 624.06 Td (1,649) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 624.06 Td (\(180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 624.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.50 624.06 Td (\(34) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 624.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 624.06 Td (\(252) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 624.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.50 624.06 Td (\(15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 624.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 610.06 Td (Daily weighted average) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 601.06 Td (number of subscribers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.75 601.06 Td (30,776) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.75 601.06 Td (28,649) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.75 601.06 Td (30,290) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.75 601.06 Td (28,033) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 601.06 Td (2,127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 601.06 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 601.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 601.06 Td (2,257) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 601.06 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 601.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 587.06 Td (Average self-pay monthly) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 578.06 Td (churn) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.25 578.06 Td (1.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 243.25 578.06 Td (1.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 297.25 578.06 Td (1.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.25 578.06 Td (1.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 578.06 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 578.06 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.00 578.06 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 578.06 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 578.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 564.06 Td (New vehicle consumer) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 555.06 Td (conversion rate) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 191.50 555.06 Td (40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.50 555.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 555.06 Td (41) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 555.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.50 555.06 Td (39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.50 555.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.50 555.06 Td (41) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.50 555.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.00 555.06 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 555.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 555.06 Td (\(2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 555.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 555.06 Td (\(2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 555.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.00 555.06 Td (\(5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 555.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 525.06 Td (ARPU) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.00 525.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 180.25 525.06 Td (13.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 525.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.25 525.06 Td (12.67) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 525.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.25 525.06 Td (12.83) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 525.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.25 525.06 Td (12.45) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 525.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 525.06 Td (0.37) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 525.06 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 525.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 525.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 525.06 Td (0.38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 525.06 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 525.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 510.06 Td (SAC, per installation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.00 510.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 191.50 510.06 Td (28) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 510.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 510.06 Td (34) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 510.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.50 510.06 Td (31) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 510.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.50 510.06 Td (33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 510.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.00 510.06 Td (\(6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 510.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.50 510.06 Td (\(18) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 510.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 510.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 510.06 Td (\(2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 510.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.00 510.06 Td (\(6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 510.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 496.06 Td (Customer service and) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 487.06 Td (billing expenses, per) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 478.06 Td (average subscriber) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.00 478.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.75 478.06 Td (0.97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 478.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.75 478.06 Td (1.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 478.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.75 478.06 Td (0.98) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 478.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.75 478.06 Td (1.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 478.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.75 478.06 Td (\(0.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 478.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 478.06 Td (\(3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 478.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 478.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 478.06 Td (\(0.02) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 478.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.00 478.06 Td (\(2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 478.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 463.06 Td (Adjusted EBITDA) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.00 463.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 171.25 463.06 Td (491,892) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 463.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.25 463.06 Td (447,194) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 463.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 272.50 463.06 Td (1,401,024) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 463.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.50 463.06 Td (1,261,382) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 463.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.75 463.06 Td (44,698) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 463.06 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 463.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 463.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 463.06 Td (139,642) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 463.06 Td (11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 463.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 448.06 Td (Free cash flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.00 448.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 171.25 448.06 Td (356,527) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 448.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.25 448.06 Td (368,899) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 448.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 272.50 448.06 Td (1,079,690) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 448.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.50 448.06 Td (1,016,045) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 448.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.75 448.06 Td (\(12,372) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 448.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 448.06 Td (\(3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 448.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 448.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 448.06 Td (63,645) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 448.06 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 448.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 434.06 Td (Diluted weighted average ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 425.06 Td (common shares outstanding ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 416.06 Td (\(GAAP\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 164.50 416.06 Td (4,919,829) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 218.50 416.06 Td (5,346,438) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 272.50 416.06 Td (5,005,133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.50 416.06 Td (5,487,116) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.25 416.06 Td (\(426,609) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 416.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 416.06 Td (\(8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 416.06 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 416.06 Td (\(481,983) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 416.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.00 416.06 Td (\(9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 416.06 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 395.30 Td (\(a\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 395.30 Td (Amounts may not sum as a result of rounding.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.00 372.50 Td (Subscribers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.22 372.50 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.72 372.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.99 372.50 Td (, we had approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.34 372.50 Td (31.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.84 372.50 Td ( million subscribers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.72 372.50 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.42 372.50 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.75 372.50 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.25 372.50 Td ( million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.50 Td (subscribers, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.82 360.50 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.15 360.50 Td (, from the approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.06 360.50 Td (29.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.56 360.50 Td ( million subscribers as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.61 360.50 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.87 360.50 Td (. ) Tj ET Q q 0 0 0 rg BT 434.19 360.50 Td (The increase in total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.50 Td (subscribers was primarily due to growth in our self-pay subscriber base, which increased 1.7 million. ) Tj ET Q q 0 0 0 rg BT 458.89 348.50 Td (The increase in self-pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.50 Td (subscribers is primarily from original and subsequent owner trial conversions and subscriber win back programs, partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.50 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 324.50 Td (fset by deactivations. Our increase in paid promotional subscribers of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.85 324.50 Td (320 thousand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.46 324.50 Td ( subscribers resulted from the shipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.50 Td (of additional vehicles by OEMs of) Tj ET Q q 0 0 0 rg BT 187.85 312.50 Td (fering paid trials.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 294.50 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 294.50 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 294.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 294.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 294.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 294.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 294.50 Td (, net additions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.43 294.50 Td (345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.43 294.50 Td ( thousand and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.48 294.50 Td (525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.48 294.50 Td ( thousand, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 282.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 282.50 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 282.50 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.01 282.50 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.34 282.50 Td (34%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.67 282.50 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.28 282.50 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.50 282.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.32 282.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.59 282.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.03 282.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.03 282.50 Td (, net additions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.84 282.50 Td (1,397 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 270.50 Td (thousand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.11 270.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.55 270.50 Td (1,649 thousand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.66 270.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 246.32 270.50 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.32 270.50 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.67 270.50 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 270.50 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.33 270.50 Td (. ) Tj ET Q q 0 0 0 rg BT 331.65 270.50 Td (The period over period decrease for the three and nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 258.50 Td (months ended September 30, 2016 was due to a decrease in net additions of paid promotional subscribers as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 246.50 Td (slower growth in vehicle sales. Self-pay net additions increased slightly during the three months ended September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 234.50 Td (2016 and decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.35 234.50 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.68 234.50 Td ( for the nine months ended September 30, 2016. For the nine months ended September 30, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 222.50 Td (the decrease in self-pay net additions was due to increases in deactivations from our lar) Tj ET Q q 0 0 0 rg BT 425.58 222.50 Td (ger subscriber base which were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 210.50 Td (lar) Tj ET Q q 0 0 0 rg BT 87.37 210.50 Td (gely of) Tj ET Q q 0 0 0 rg BT 115.23 210.50 Td (fset by increases in trial conversions and subscriber win back programs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 186.50 Td (A) Tj ET Q q 0 0 0 rg BT 83.56 186.50 Td (verage Self-pay Monthly Churn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.41 186.50 Td (is derived by dividing the monthly average of self-pay deactivations for the period by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.50 Td (the average number of self-pay subscribers forthe period. \(See accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.48 174.50 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.48 174.50 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.58 174.50 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.58 174.50 Td ( for more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.50 Td (details.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 144.50 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 144.50 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 144.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 144.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 144.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 144.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 144.50 Td (, our average self-pay monthly churn rate was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.38 144.50 Td (1.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.21 144.50 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 132.50 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.22 132.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.04 132.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.31 132.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.74 132.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.74 132.50 Td (, our average self-pay monthly churn rate was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.51 132.50 Td (1.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.34 132.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 108.50 Td (New V) Tj ET Q q 0 0 0 rg BT 103.28 108.50 Td (ehicle Consumer Conversion Rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.70 108.50 Td (is the percentage of owners and lessees of new vehicles that receive our service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.50 Td (and convert to become self-paying subscribers after an initial promotional period. ) Tj ET Q q 0 0 0 rg BT 378.60 96.50 Td (The metric excludes rental and fleet vehicles.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.91 96.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.50 Td (\(See accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.68 84.50 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.68 84.50 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.79 84.50 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.79 84.50 Td ( for more details\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 66.50 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 66.50 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 66.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 66.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 66.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 66.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 66.50 Td (, our new vehicle consumer conversion rate was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.27 66.50 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.60 66.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.04 66.50 Td (41%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.37 66.50 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 54.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 124.66 54.50 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.27 54.50 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.49 54.50 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.31 54.50 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.58 54.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.01 54.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.01 54.50 Td (, our new vehicle consumer conversion rate was ) Tj ET Q endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 742.10 Td (39%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.33 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.77 742.10 Td (41%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.10 742.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 185.76 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 193.08 742.10 Td (The period over period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.49 742.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.90 742.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.28 742.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.26 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.70 742.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.92 742.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.75 742.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.01 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 730.10 Td (was primarily due to an increased vehicle penetration rate as well as lower conversion of first-time buyers and lessees of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 718.10 Td (satellite radio enabled cars.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 694.10 Td (ARPU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.05 694.10 Td (is derived from total earned subscriber revenue \(excluding revenue derived from our connected vehicle services\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (net advertising revenue and other subscription-related revenue, divided by the number of months in the period, divided by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (daily weighted average number of subscribers for the period. \(See the accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.42 670.10 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.42 670.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.53 670.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.53 670.10 Td ( for more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (details.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 640.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 640.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 640.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 640.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 640.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 640.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 640.10 Td (, ) Tj ET Q q 0 0 0 rg BT 313.07 640.10 Td (ARPU was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.30 640.10 Td ($13.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 640.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.23 640.10 Td ($12.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.73 640.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 487.40 640.10 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 640.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.22 640.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 628.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.33 628.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.59 628.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 628.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.03 628.10 Td (, ) Tj ET Q q 0 0 0 rg BT 259.48 628.10 Td (ARPU was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.70 628.10 Td ($12.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.20 628.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.64 628.10 Td ($12.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.14 628.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 433.80 628.10 Td (. ) Tj ET Q q 0 0 0 rg BT 441.12 628.10 Td (The period over period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 616.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.75 616.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.13 616.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.12 616.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.55 616.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.77 616.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.10 616.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.36 616.10 Td ( was driven primarily by increases in certain of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 604.10 Td (subscription and other subscription related rates, partially of) Tj ET Q q 0 0 0 rg BT 317.31 604.10 Td (fset by growth in subscription discounts of) Tj ET Q q 0 0 0 rg BT 487.67 604.10 Td (fered through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 592.10 Td (customer acquisition and retention programs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 568.10 Td (SAC, Per Installation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.83 568.10 Td (is derived from subscriber acquisition costs and mar) Tj ET Q q 0 0 0 rg BT 377.21 568.10 Td (gins from the sale of radios, components and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (accessories, divided by the number of satellite radio installations in new vehicles and shipments of aftermarket radios for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (period. \(See the accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.94 544.10 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.94 544.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.05 544.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.05 544.10 Td ( for more details.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 526.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 526.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 526.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 526.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 526.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 526.10 Td (, SAC, per installation, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.83 526.10 Td ($28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.83 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.27 526.10 Td ($34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.27 526.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 522.93 526.10 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 514.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.22 514.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.04 514.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.31 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.74 514.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.74 514.10 Td (, SAC, per installation, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.96 514.10 Td ($31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.96 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.39 514.10 Td ($33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.39 514.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 489.06 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 496.38 514.10 Td (The period over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 502.10 Td (period decrease for the three months and nine months ended September 30, 2016 was driven by lower OEM hardware ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 490.10 Td (subsidy rates as well as lower subsidized costs related to the transition of chipsets. ) Tj ET Q q 0 0 0 rg BT 410.27 490.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 460.17 490.10 Td (, for the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 478.10 Td (ended September 30, 2016, subscriber acquisition costs benefited approximately $2.00 per installation from a contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 466.10 Td (reduction to a subsidy rate.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 442.10 Td (Customer Service and Billing Expenses, Per ) Tj ET Q q 0 0 0 rg BT 257.50 442.10 Td (A) Tj ET Q q 0 0 0 rg BT 263.06 442.10 Td (verage Subscriber) Tj ET Q q 0 0 0 rg BT 334.99 442.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.99 442.10 Td (is derived from total customer service and billing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (expenses, excluding connected vehicle customer service and billing expenses and share-based payment expense, divided by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (number of months in the period, divided by the daily weighted average number of subscribers for the period. \(See the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.41 406.10 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.41 406.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.52 406.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.52 406.10 Td ( for more details.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 388.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 388.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 388.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 388.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 388.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 388.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 388.10 Td (, customer service and billing expenses, per average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 376.10 Td (subscriber) Tj ET Q q 0 0 0 rg BT 117.70 376.10 Td (, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.75 376.10 Td ($0.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.25 376.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.69 376.10 Td ($1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.19 376.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 257.85 376.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.46 376.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.67 376.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 376.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.76 376.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.20 376.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.20 376.10 Td (, customer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 364.10 Td (service and billing expenses, per average subscriber) Tj ET Q q 0 0 0 rg BT 284.02 364.10 Td (, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.07 364.10 Td ($0.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.57 364.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.01 364.10 Td ($1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.51 364.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 424.17 364.10 Td (. ) Tj ET Q q 0 0 0 rg BT 428.99 364.10 Td (The period over period decrease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 352.10 Td (for the three months and nine months ended September 30, 2016 was primarily related to ef) Tj ET Q q 0 0 0 rg BT 443.39 352.10 Td (ficiencies achieved from call ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 340.10 Td (center process enhancements and lower personnel related costs, partially of) Tj ET Q q 0 0 0 rg BT 377.81 340.10 Td (fset by increased bad debt expense and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 328.10 Td (transaction fees per subscriber) Tj ET Q q 0 0 0 rg BT 197.79 328.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 304.10 Td (Adjusted EBITDA. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.93 304.10 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 191.04 304.10 Td ( is defined as net income before interest expense, income tax expense and depreciation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (amortization.) Tj ET Q q 0 0 0 rg BT 107.49 292.10 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 182.20 292.10 Td ( excludes the impact of other income other non-cash char) Tj ET Q q 0 0 0 rg BT 411.10 292.10 Td (ges, such as certain purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (accounting adjustments, share-based payment expense, and loss on disposal of assets and settlements related to the historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (use of pre-1972 sound recordings. \(See the accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.25 268.10 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.25 268.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.36 268.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.36 268.10 Td ( for a reconciliation to GAAP) Tj ET Q q 0 0 0 rg BT 532.57 268.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (for more details.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 238.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 238.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 238.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 238.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 238.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 238.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 238.10 Td (, adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 385.55 238.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.11 238.10 Td ($491,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.61 238.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.04 238.10 Td ($447,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.54 238.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 553.21 238.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 226.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.69 226.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.02 226.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.35 226.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.18 226.10 Td ($44,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.68 226.10 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.29 226.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.51 226.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.33 226.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.60 226.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.04 226.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.04 226.10 Td (, adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 514.97 226.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 214.10 Td ($1,401,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 214.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.44 214.10 Td ($1,261,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.44 214.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 239.10 214.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.10 214.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.79 214.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.12 214.10 Td (1) Tj ET Q q 0 0 0 rg BT 306.75 214.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.08 214.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.91 214.10 Td ($139,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.41 214.10 Td (. ) Tj ET Q q 0 0 0 rg BT 380.73 214.10 Td (The increase was due to growth in revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 202.10 Td (primarily as a result of the increase in our subscriber base and certain of our subscription rates, partially of) Tj ET Q q 0 0 0 rg BT 502.51 202.10 Td (fset by higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 190.10 Td (revenue share and royalties costs due to growth in our revenues, higher programming and content costs associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 178.10 Td (renewed agreements, higher sales and marketing costs associated with growth in our subscriber base, and higher general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 166.10 Td (and administrative costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.00 142.10 Td (Fr) Tj ET Q q 0 0 0 rg BT 87.63 142.10 Td (ee Cash Flow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.12 142.10 Td (includes cash provided by operations, net of additions to property and equipment, and restricted and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (other investment activity and excluding the $210,000 pre-1972 sound recordings legal settlement payment made in 2015. \(See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (the accompanying glossary on pages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.13 118.10 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.13 118.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.23 118.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.23 118.10 Td ( for a reconciliation to GAAP) Tj ET Q q 0 0 0 rg BT 373.44 118.10 Td ( and for more details.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 100.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 100.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 100.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.92 100.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.18 100.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.62 100.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 100.10 Td (, free cash flow was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.81 100.10 Td ($356,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.31 100.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.75 100.10 Td ($368,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.25 100.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 537.91 100.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.91 100.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 88.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.41 88.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.74 88.10 Td ($12,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.24 88.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.07 88.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.40 88.10 Td (.For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.01 88.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.23 88.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.05 88.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.32 88.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.76 88.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.76 88.10 Td (, free cash flow was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.94 88.10 Td ($1,079,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.94 88.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 76.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.94 76.10 Td ($1,016,045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.94 76.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 191.60 76.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.60 76.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.29 76.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.62 76.10 Td ($63,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.12 76.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.45 76.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.78 76.10 Td (. ) Tj ET Q q 0 0 0 rg BT 321.10 76.10 Td (The decrease for the three month period ended September ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 64.10 Td (30, 2016 was driven by additions to property and equipment resulting primarily from new satellite construction, and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 52.10 Td (payment of approximately $22,400, net of insurance recoveries, in connection with the settlement of class action suits ) Tj ET Q endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 742.10 Td (alleging violations of the ) Tj ET Q q 0 0 0 rg BT 179.02 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 184.43 742.10 Td (elephone Consumer Protection ) Tj ET Q q 0 0 0 rg BT 309.69 742.10 Td (Act of 1991, partially of) Tj ET Q q 0 0 0 rg BT 406.42 742.10 Td (fset by higher net cash provided by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 730.10 Td (operating activities. ) Tj ET Q q 0 0 0 rg BT 160.68 730.10 Td (The increase for the nine month period ended September 30, 2016 was primarily driven by higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 718.10 Td (net cash provided by operating activities resulting from higher collections from subscribers; partially of) Tj ET Q q 0 0 0 rg BT 490.87 718.10 Td (fset by an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 706.10 Td (increase in additions to property and equipment resulting primarily from new satellite construction and the payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 694.10 Td (approximately $22,400, net of insurance recoveries, in connection with the settlement of class action suits alleging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 682.10 Td (violations of the ) Tj ET Q q 0 0 0 rg BT 144.31 682.10 Td (T) Tj ET Q q 0 0 0 rg BT 149.72 682.10 Td (elephone Consumer Protection ) Tj ET Q q 0 0 0 rg BT 274.97 682.10 Td (Act of 1991.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 652.10 Td (ces) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Cash Flows for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 128.90 634.10 Td (nine) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 146.11 634.10 Td ( months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.38 634.10 Td (September30, 2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 286.09 634.10 Td ( compar) Tj ET Q q 0 0 0 rg BT 318.77 634.10 Td (ed with the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 365.15 634.10 Td (nine) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.37 634.10 Td ( months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.64 634.10 Td (September30, 2015) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 616.10 Td (The following table presents a summary of our cash flow activity for the periods set forth below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 564.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 564.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 564.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 564.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 564.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 564.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 534.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 534.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 534.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 534.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 534.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 534.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 504.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 504.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 504.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 504.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 504.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 504.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 592.6 m 404.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 592.6 m 408.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 592.6 m 483.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 579.6 m 404.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 592.6 m 483.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 579.6 m 483.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 579.6 m 562.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 579.6 m 404.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 579.6 m 483.5 579.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 534.6 m 404.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 534.6 m 483.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 534.6 m 562.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 504.6 m 404.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 504.6 m 483.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 504.6 m 562.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 490.6 m 404.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 488.6 m 404.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 490.6 m 483.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 488.6 m 483.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 490.6 m 562.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 488.6 m 562.5 488.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.90 596.83 Td (For the Nine Months Ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.50 583.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.50 583.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.90 583.83 Td (2016 vs 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.27 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 569.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 569.27 Td (1,183,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 569.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 569.27 Td (861,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 569.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 569.27 Td (322,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 554.27 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.80 554.32 Td (\(136,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 554.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 554.32 Td (\(94,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 554.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 554.32 Td (\(41,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 554.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.27 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.80 539.32 Td (\(586,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 539.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 539.32 Td (\(761,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 539.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 539.27 Td (174,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 524.27 Td (Net increase in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 524.27 Td (460,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 524.27 Td (4,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 524.27 Td (455,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 509.27 Td (Cash and cash equivalents at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 509.27 Td (111,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 509.27 Td (147,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 509.32 Td (\(35,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 509.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 494.27 Td (Cash and cash equivalents at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 494.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 494.27 Td (572,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 494.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 494.27 Td (152,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 494.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 494.27 Td (419,837) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 470.10 Td (Cash Flows Pr) Tj ET Q q 0 0 0 rg BT 109.64 470.10 Td (ovided by Operating ) Tj ET Q q 0 0 0 rg BT 194.16 470.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 452.10 Td (Cash flows provided by operating activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.63 452.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.38 452.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.38 452.10 Td ($322,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.88 452.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.66 452.10 Td ($1,183,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.66 452.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.04 452.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.26 452.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 440.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.70 440.10 Td ($861,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.20 440.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.58 440.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.80 440.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.62 440.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.88 440.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 416.10 Td (Our lar) Tj ET Q q 0 0 0 rg BT 106.42 416.10 Td (gest source of cash provided by operating activities is generated by subscription and subscription-related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.10 Td (revenues.) Tj ET Q q 0 0 0 rg BT 92.86 404.10 Td (W) Tj ET Q q 0 0 0 rg BT 101.49 404.10 Td (e also generate cash from the sale of advertising on certain non-music channels and the sale of satellite radios, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.10 Td (components and accessories.Our primary uses of cash from operating activities include revenue share and royalty payments to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.10 Td (distributors, programming and content providers, and payments to radio manufacturers, distributors and automakers. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.10 Td (addition, uses of cash from operating activities include payments to vendors to service, maintain and acquire subscribers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.10 Td (general corporate expenditures, and compensation and related costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (Cash Flows Used in Investing ) Tj ET Q q 0 0 0 rg BT 172.31 326.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 308.10 Td (Cash flows used in investing activities are primarily additional spending to construct replacement satellites, improve our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.10 Td (terrestrial repeater network and for capitalized software.In 2015, our cash flows used in investing activities also included an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.10 Td (increase to our letters of credit issued for the benefit of lessors of certain of our of) Tj ET Q q 0 0 0 rg BT 376.92 284.10 Td (fice space.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (Cash Flows Used in Financing ) Tj ET Q q 0 0 0 rg BT 176.76 254.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 236.10 Td (Cash flows used in financing activities consists of the issuance and repayment of long-term debt and the purchase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (common stock under Holdings' share repurchase program.Proceeds from long-term debt, related party debt and equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (issuances have been used to fund our operations, construct and launch new satellites and invest in other infrastructure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (improvements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 176.10 Td (Cash flows provided by financing activities in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.63 176.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.84 176.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.67 176.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.93 176.10 Td ( were due to the issuance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.10 Td ($1,000,000 aggregate principal amount of 5.375% Senior Notes due 2026 and borrowings under the Credit Facility) Tj ET Q q 0 0 0 rg BT 509.81 164.10 Td (. Cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.10 Td (flows used in financing activities in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.69 152.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.90 152.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.73 152.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.99 152.10 Td ( were primarily due to the purchase and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (retirement of shares of Holdings' common stock under Holdings' repurchase program for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.40 140.10 Td ($1,225,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.40 140.10 Td ( and repayments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (borrowings under the Credit Facility) Tj ET Q q 0 0 0 rg BT 195.43 128.10 Td (. Cash flows provided by financing activities in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.56 128.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.78 128.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.60 128.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 116.10 Td ( were due to the issuance of $1,000,000 aggregate principal amount of 5.375% Senior Notes due 2025 and borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (under the Credit Facility) Tj ET Q q 0 0 0 rg BT 147.38 104.10 Td (.Cash flows used in financing activities in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.07 104.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.29 104.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.11 104.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.38 104.10 Td ( were primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (due to the purchase and retirement of shares of Holdings' common stock under Holdings' repurchase program for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.31 92.10 Td ($1,647,728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.31 92.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.10 Td (and repayments of borrowings under the Credit Facility) Tj ET Q q 0 0 0 rg BT 271.80 80.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 68.10 Td ( ) Tj ET Q endstream endobj 75 0 obj <>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Future Liquidity and Capital Resource Requirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 724.25 Td (Based upon our current business plans, we expect to fund operating expenses, capital expenditures, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (construction of replacement satellites, working capital requirements, legal settlements, interest payments, taxes and scheduled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (maturities of our debt with existing cash, cash flow from operations and borrowings under our Credit Facility) Tj ET Q q 0 0 0 rg BT 486.76 700.25 Td (.) Tj ET Q q 0 0 0 rg BT 493.71 700.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 688.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.26 688.25 Td ($1,750,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.26 688.25 Td ( was available for future borrowing under our Credit Facility) Tj ET Q q 0 0 0 rg BT 422.60 688.25 Td (.On October 3, 2016, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (redeemed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.36 676.25 Td ($650,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.86 676.25 Td (in principal amount of our outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 676.25 Td (5.875%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.83 676.25 Td (Notes for an approximate purchase price of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.09 676.25 Td ($669,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.59 676.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (including premium. ) Tj ET Q q 0 0 0 rg BT 133.70 664.25 Td (This redemption was funded with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.62 664.25 Td ($359,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.12 664.25 Td ( of Cash and cash equivalents and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.13 664.25 Td ($310,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.63 664.25 Td ( of borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (under our Credit Facility) Tj ET Q q 0 0 0 rg BT 148.50 652.25 Td (. ) Tj ET Q q 0 0 0 rg BT 155.82 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 164.45 652.25 Td (e believe that we have suf) Tj ET Q q 0 0 0 rg BT 267.84 652.25 Td (ficient cash and cash equivalents as well as debt capacity to cover our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (estimated short-term and long-term funding needs, as well as fund stock repurchases and strategic opportunities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 616.25 Td (Our ability to meet our debt and other obligations depends on our future operating performance and on economic, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (financial, competitive and other factors. ) Tj ET Q q 0 0 0 rg BT 211.70 604.25 Td (W) Tj ET Q q 0 0 0 rg BT 220.34 604.25 Td (e continually review our operations for opportunities to adjust the timing of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (expenditures to ensure that suf) Tj ET Q q 0 0 0 rg BT 172.01 592.25 Td (ficient resources are maintained.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 568.25 Td (W) Tj ET Q q 0 0 0 rg BT 86.64 568.25 Td (e regularly evaluate our business plans and strategy) Tj ET Q q 0 0 0 rg BT 291.75 568.25 Td (. ) Tj ET Q q 0 0 0 rg BT 296.57 568.25 Td (These evaluations often result in changes to our business plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (and strategy) Tj ET Q q 0 0 0 rg BT 97.94 556.25 Td (, some of which may be material and significantly change our cash requirements. ) Tj ET Q q 0 0 0 rg BT 424.60 556.25 Td (These changes in our business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (plans or strategy may include: the acquisition of unique or compelling programming; the development and introduction of new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (features or services; significant new or enhanced distribution arrangements; investments in infrastructure, such as satellites, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (equipment or radio spectrum; and acquisitions, including acquisitions that are not directly related to our satellite radio business.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 496.25 Td (Holdings' Capital Return Pr) Tj ET Q q 0 0 0 rg BT 181.16 496.25 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 478.25 Td (As of September 30, 2016, Holdings' board of directors had approved for repurchase an aggregate of $8,000,000 of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Holdings common stock. ) Tj ET Q q 0 0 0 rg BT 154.72 466.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.17 466.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.43 466.25 Td (, Holdings' cumulative repurchases since December 2012 totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td ($7,515,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 454.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.94 454.25 Td ($484,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.44 454.25 Td ( remained available under Holdings' stock repurchase program.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 436.25 Td (On October 26, 2016, Holdings' board of directors approved an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.12 436.25 Td ($2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.12 436.25 Td ( for repurchase of Holdings' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (common stock.) Tj ET Q q 0 0 0 rg BT 115.92 424.25 Td (The new approval increases the amount of common stock that we have been authorized to repurchase to an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.19 412.25 Td ($10,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.19 412.25 Td (. Shares of Holdings' common stock may be purchased from time to time on the open market and in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (privately negotiated transactions, including in accelerated stock repurchase transactions and transactions with Liberty Media ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (and its af) Tj ET Q q 0 0 0 rg BT 86.47 388.25 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 121.01 388.25 Td (W) Tj ET Q q 0 0 0 rg BT 129.64 388.25 Td (e intend to fund the additional repurchases of Holdings' common stock through a combination of cash on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (hand, cash generated by operations and future borrowings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 358.25 Td (On October 26, 2016, Holdings' board of directors also declared the first quarterly dividend on Holdings' common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.32 346.25 Td ($0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.82 346.25 Td ( per share of common stock payable on November 30, 2016 to stockholders of record as of the close of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (business on November 9, 2016. Holdings' board of directors expects that this dividend will be the first of regular quarterly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (dividends, in an aggregate annual amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.95 322.25 Td ($0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.45 322.25 Td ( per share of common stock.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (Debt Covenants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 274.25 Td (The indentures governing our senior notes, and the agreement governing the Credit Facility include restrictive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (covenants.) Tj ET Q q 0 0 0 rg BT 96.93 262.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.38 262.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.64 262.25 Td (, we were in compliance with such covenants.For a discussion of our Debt Covenants, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (refer to Note 9 to our unaudited consolidated financial statements in this Quarterly Report.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (Of) Tj ET Q q 0 0 0 rg BT 60.37 220.25 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 128.33 220.25 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 202.25 Td (W) Tj ET Q q 0 0 0 rg BT 86.64 202.25 Td (e do not have any significant of) Tj ET Q q 0 0 0 rg BT 212.53 202.25 Td (f-balance sheet arrangements other than those disclosed in Note 12 to our unaudited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (consolidated financial statements in this Quarterly Report that are reasonably likely to have a material ef) Tj ET Q q 0 0 0 rg BT 467.72 190.25 Td (fect on our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (condition, results of operations, liquidity) Tj ET Q q 0 0 0 rg BT 212.11 178.25 Td (, capital expenditures or capital resources.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (Contractual Cash Commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 130.25 Td (For a discussion of our Contractual Cash Commitments, refer to Note 12 to our unaudited consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (statements in this Quarterly Report.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (Related Party T) Tj ET Q q 0 0 0 rg BT 114.06 88.25 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 70.25 Td (For a discussion of Related Party ) Tj ET Q q 0 0 0 rg BT 217.24 70.25 Td (T) Tj ET Q q 0 0 0 rg BT 223.00 70.25 Td (ransactions, refer to Note 8 to our unaudited consolidated financial statements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (this Quarterly Report.) Tj ET Q endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 83.24 742.25 Td (Accounting Policies and Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 718.25 Td (For a discussion of our ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.16 718.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.72 718.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 209.66 718.25 Td (Accounting Policies and Estimates, refer to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.88 718.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.45 718.25 Td (Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 518.62 718.25 Td (Analysis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (of Financial Condition and Results of Operations in our ) Tj ET Q q 0 0 0 rg BT 279.14 706.25 Td (Annual Report for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.75 706.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.34 706.25 Td (. ) Tj ET Q q 0 0 0 rg BT 501.66 706.25 Td (There have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (been no material changes to our critical accounting policies and estimates since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.88 694.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.47 694.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Glossary) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 650.68505859375 m 156.46533203125 650.68505859375 l s q 0 0 0 rg BT 77.00 652.25 Td (Adjusted EBITDA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.19 652.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.69 652.25 Td (- EBITDA) Tj ET Q q 0 0 0 rg BT 200.63 652.25 Td ( is defined as net income before interest expense, income tax expense and depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 640.25 Td (and amortization. ) Tj ET Q q 0 0 0 rg BT 149.29 640.25 Td (W) Tj ET Q q 0 0 0 rg BT 157.93 640.25 Td (e adjust EBITDA) Tj ET Q q 0 0 0 rg BT 227.37 640.25 Td ( to exclude the impact of other income as well as certain other char) Tj ET Q q 0 0 0 rg BT 495.13 640.25 Td (ges discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 628.25 Td (below) Tj ET Q q 0 0 0 rg BT 100.79 628.25 Td (. ) Tj ET Q q 0 0 0 rg BT 105.24 628.25 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 179.95 628.25 Td ( is one of the primary Non-GAAP) Tj ET Q q 0 0 0 rg BT 315.67 628.25 Td ( financial measures we use to \(i\) evaluate the performance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 616.25 Td (our on-going core operating results period over period, \(ii\) base our internal budgets and \(iii\) compensate management. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 604.25 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 151.72 604.25 Td ( is a Non-GAAP) Tj ET Q q 0 0 0 rg BT 217.73 604.25 Td ( financial measure that excludes \(if applicable\):\(i\) certain adjustments as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 592.25 Td (the purchase price accounting for the Mer) Tj ET Q q 0 0 0 rg BT 243.97 592.25 Td (ger) Tj ET Q q 0 0 0 rg BT 256.34 592.25 Td (, \(ii\) share-based payment expense and \(iii\) other significant operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 580.25 Td (expense \(income\) that do not relate to the on-going performance of our business. ) Tj ET Q q 0 0 0 rg BT 404.77 580.25 Td (W) Tj ET Q q 0 0 0 rg BT 413.41 580.25 Td (e believe adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 523.66 580.25 Td ( is a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 568.25 Td (useful measure of the underlying trend of our operating performance, which provides useful information about our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 556.25 Td (business apart from the costs associated with our capital structure and purchase price accounting. ) Tj ET Q q 0 0 0 rg BT 467.52 556.25 Td (W) Tj ET Q q 0 0 0 rg BT 476.16 556.25 Td (e believe investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 544.25 Td (find this Non-GAAP) Tj ET Q q 0 0 0 rg BT 159.96 544.25 Td ( financial measure useful when analyzing our results and comparing our operating performance to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 532.25 Td (the performance of other communications, entertainment and media companies. ) Tj ET Q q 0 0 0 rg BT 398.65 532.25 Td (W) Tj ET Q q 0 0 0 rg BT 407.28 532.25 Td (e believe investors use adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 520.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 113.11 520.25 Td ( to estimate our current enterprise value and to make investment decisions. Because of lar) Tj ET Q q 0 0 0 rg BT 471.41 520.25 Td (ge capital investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 508.25 Td (in our satellite radio system our results of operations reflect significant char) Tj ET Q q 0 0 0 rg BT 379.23 508.25 Td (ges for depreciation expense. ) Tj ET Q q 0 0 0 rg BT 498.16 508.25 Td (W) Tj ET Q q 0 0 0 rg BT 506.80 508.25 Td (e believe the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 496.25 Td (exclusion of share-based payment expense is useful as it is not directly related to the operational conditions of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 484.25 Td (business. ) Tj ET Q q 0 0 0 rg BT 118.21 484.25 Td (W) Tj ET Q q 0 0 0 rg BT 126.85 484.25 Td (e also believe the exclusion of settlements related to the historical use of pre-1972 sound recordings and loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 472.25 Td (on disposal of assets is useful as it does not represent an expense incurred as part of our normal operations for the period. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 448.25 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 151.72 448.25 Td ( has certain limitations in that it does not take into account the impact to our statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 436.25 Td (comprehensive income of certain expenses, including share-based payment expense and certain purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 424.25 Td (accounting for the Mer) Tj ET Q q 0 0 0 rg BT 168.73 424.25 Td (ger) Tj ET Q q 0 0 0 rg BT 180.95 424.25 Td (. ) Tj ET Q q 0 0 0 rg BT 185.76 424.25 Td (W) Tj ET Q q 0 0 0 rg BT 194.40 424.25 Td (e endeavor to compensate for the limitations of the Non-GAAP) Tj ET Q q 0 0 0 rg BT 447.58 424.25 Td ( measure presented by also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 412.25 Td (providing the comparable GAAP) Tj ET Q q 0 0 0 rg BT 209.10 412.25 Td ( measure with equal or greater prominence and descriptions of the reconciling items, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 400.25 Td (including quantifying such items, to derive the Non-GAAP) Tj ET Q q 0 0 0 rg BT 313.26 400.25 Td ( measure.Investors that wish to compare and evaluate our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 388.25 Td (operating results after giving ef) Tj ET Q q 0 0 0 rg BT 202.33 388.25 Td (fect for these costs, should refer to net income as disclosed in our unaudited consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 376.25 Td (statements of comprehensive income. Since adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 326.66 376.25 Td ( is a Non-GAAP) Tj ET Q q 0 0 0 rg BT 392.67 376.25 Td ( financial performance measure, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 364.25 Td (calculation of adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 206.13 364.25 Td ( may be susceptible to varying calculations; may not be comparable to other similarly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 352.25 Td (titled measures of other companies; and should not be considered in isolation, as a substitute for) Tj ET Q q 0 0 0 rg BT 460.40 352.25 Td (, or superior to measures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 340.25 Td (of financial performance prepared in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 319.94 340.25 Td (. ) Tj ET Q q 0 0 0 rg BT 324.76 340.25 Td (The reconciliation of net income to the adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 554.70 340.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 328.25 Td (is calculated as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 268.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 268.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 268.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 268.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 268.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 268.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 268.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 268.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 238.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 238.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 238.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 238.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 238.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 238.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 238.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 238.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 208.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 208.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 208.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 208.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 208.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 208.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 208.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 208.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 178.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 178.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 178.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 178.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 178.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 178.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 178.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 178.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 148.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 148.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 148.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 148.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 148.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 148.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 148.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 148.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 118.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 118.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 118.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 118.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 118.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 118.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 118.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 118.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 296.75 m 352.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 296.75 m 356.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 296.75 m 423.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 296.75 m 492.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 296.75 m 496.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 296.75 m 561.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 283.75 m 352.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 283.75 m 423.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 283.75 m 492.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 283.75 m 561.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 283.75 m 352.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 283.75 m 423.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 283.75 m 492.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 283.75 m 561.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 103.75 m 352.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 103.75 m 423.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 103.75 m 492.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 103.75 m 561.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 103.75 m 352.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 89.75 m 352.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 87.75 m 352.5 87.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 103.75 m 423.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 89.75 m 423.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 87.75 m 423.5 87.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 103.75 m 492.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 89.75 m 492.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 87.75 m 492.5 87.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 103.75 m 561.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 89.75 m 561.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 87.75 m 561.5 87.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.20 308.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.60 300.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.25 308.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 300.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.50 287.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 287.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 287.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 287.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 274.32 Td (Net income:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 273.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 273.42 Td (193,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 273.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 273.42 Td (166,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 273.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 273.42 Td (541,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 273.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 273.42 Td (375,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 259.32 Td (Add back items excluded from Adjusted EBITDA:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 244.32 Td (Purchase price accounting adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 229.32 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 228.42 Td (1,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 228.42 Td (1,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 228.42 Td (5,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 228.42 Td (5,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 214.32 Td (Operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 213.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 213.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 213.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 213.47 Td (\(1,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 213.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 199.32 Td (Pre-1972 sounds recordings legal settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 198.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 198.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 198.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 198.42 Td (107,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 184.32 Td (Loss on disposal of assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 183.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 183.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 183.42 Td (12,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 183.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 169.32 Td (Share-based payment expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 168.42 Td (30,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 168.42 Td (23,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 168.42 Td (77,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 168.42 Td (62,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 154.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 153.42 Td (67,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 153.42 Td (70,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 153.42 Td (202,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 153.42 Td (202,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 139.32 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 138.42 Td (89,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 138.42 Td (76,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 138.42 Td (250,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 138.42 Td (221,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 124.32 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 123.47 Td (\(2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 123.47 Td (\(4,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 123.47 Td (\(15,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 123.47 Td (\(9,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 109.32 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 108.42 Td (111,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 108.42 Td (112,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 108.42 Td (326,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 108.42 Td (296,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 94.32 Td (Adjusted EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 93.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 93.42 Td (491,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 93.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 93.42 Td (447,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 93.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 93.42 Td (1,401,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 93.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 93.42 Td (1,261,382) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 79 0 obj <>] /Rotate 0 /Contents 80 0 R>> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 740.68505859375 m 104.7734375 740.68505859375 l s q 0 0 0 rg BT 77.00 742.25 Td (ARPU) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 104.77 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.27 742.25 Td (- is derived from total earned subscriber revenue, advertising revenue and other subscription-related revenue, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 730.25 Td (excluding revenue associated with our connected vehicle services, divided by) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.89 730.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.39 730.25 Td (the number of months in the period, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 718.25 Td (divided by the daily weighted average number of subscribers for the period. Other subscription-related revenue includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 706.25 Td (the U.S. Music Royalty Fee.) Tj ET Q q 0 0 0 rg BT 195.05 706.25 Td (ARPU is calculated as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 646.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 646.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 646.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 646.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 646.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 646.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 646.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 646.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 616.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 616.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 616.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 616.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 616.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 616.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 616.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 616.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 586.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 586.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 586.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 586.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 586.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 674.75 m 352.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 674.75 m 356.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 674.75 m 423.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 674.75 m 492.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 674.75 m 496.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 674.75 m 561.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 661.75 m 352.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 661.75 m 423.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 661.75 m 492.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 661.75 m 561.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 661.75 m 352.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 661.75 m 423.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 661.75 m 492.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 661.75 m 561.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 616.75 m 352.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 602.75 m 352.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 600.75 m 352.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 616.75 m 423.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 602.75 m 423.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 600.75 m 423.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 616.75 m 492.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 602.75 m 492.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 600.75 m 492.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 616.75 m 561.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 602.75 m 561.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 600.75 m 561.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 600.75 m 352.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 602.75 m 352.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 587.75 m 352.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 585.75 m 352.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 600.75 m 423.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 602.75 m 423.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 587.75 m 423.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 585.75 m 423.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 600.75 m 492.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 602.75 m 492.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 587.75 m 492.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 585.75 m 492.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 600.75 m 561.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 602.75 m 561.5 602.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 587.75 m 561.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 585.75 m 561.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 585.75 m 352.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 587.75 m 352.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 572.75 m 352.5 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 570.75 m 352.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 585.75 m 423.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 587.75 m 423.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 572.75 m 423.5 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 570.75 m 423.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 585.75 m 492.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 587.75 m 492.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 572.75 m 492.5 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 570.75 m 492.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 585.75 m 561.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 587.75 m 561.5 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 572.75 m 561.5 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 570.75 m 561.5 570.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.20 686.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.60 678.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.25 686.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 678.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.50 665.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 665.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 665.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 665.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 651.42 Td (Subscriber revenue, excluding connected vehicle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 651.42 Td (1,048,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 651.42 Td (949,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 651.42 Td (3,044,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 651.42 Td (2,752,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 636.42 Td (Add: advertising revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 636.42 Td (34,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 636.42 Td (33,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 636.42 Td (99,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 636.42 Td (88,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 621.42 Td (Add: other subscription-related revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 621.42 Td (122,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 621.42 Td (106,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 621.42 Td (353,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 621.42 Td (299,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 606.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 606.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 606.42 Td (1,204,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 606.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.65 606.42 Td (1,088,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 606.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 606.42 Td (3,497,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 606.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 606.42 Td (3,141,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 591.42 Td (Daily weighted average number of subscribers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 591.42 Td (30,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 591.42 Td (28,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 591.42 Td (30,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 591.42 Td (28,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 576.42 Td (ARPU) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 576.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 576.42 Td (13.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 576.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 576.42 Td (12.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 576.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 576.42 Td (12.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 576.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 576.42 Td (12.45) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 546.68505859375 m 213.748046875 546.68505859375 l s q 0 0 0 rg BT 77.00 548.25 Td (A) Tj ET Q q 0 0 0 rg BT 83.48 548.25 Td (verage self-pay monthly churn) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.75 548.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.25 548.25 Td (- is defined as the monthly average of self-pay deactivations for the period divided by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 536.25 Td (the average number of self-pay subscribers for the period.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 510.68505859375 m 341.51904296875 510.68505859375 l s q 0 0 0 rg BT 77.00 512.25 Td (Customer) Tj ET Q q 0 0 0 rg BT 119.03 512.25 Td ( service and billing expenses, per) Tj ET Q q 0 0 0 rg BT 258.29 512.25 Td ( average subscriber) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.43 512.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.93 512.25 Td (- is derived from total customer service and billing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 500.25 Td (expenses, excluding connected vehicle customer service and billing expenses and share-based payment expense, divided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 488.25 Td (by the number of months in the period, divided by the daily weighted average number of subscribers for the period. ) Tj ET Q q 0 0 0 rg BT 541.14 488.25 Td (W) Tj ET Q q 0 0 0 rg BT 549.78 488.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 476.25 Td (believe the exclusion of share-based payment expense in our calculation of customer service and billing expenses, per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 464.25 Td (average subscriber) Tj ET Q q 0 0 0 rg BT 151.28 464.25 Td (, is useful as share-based payment expense is not directly related to the operational conditions that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 452.25 Td (give rise to variations in the components of our customer service and billing expenses. Customer service and billing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 440.25 Td (expenses, per average subscriber) Tj ET Q q 0 0 0 rg BT 207.65 440.25 Td (, is calculated as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 370.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 370.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 370.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 370.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 370.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 370.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 370.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 370.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 340.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 340.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 340.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 340.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 340.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 340.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 340.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 340.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 408.75 m 352.5 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 408.75 m 356.5 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 408.75 m 423.5 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 408.75 m 492.5 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 408.75 m 496.5 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 408.75 m 561.5 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 395.75 m 352.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 395.75 m 423.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 395.75 m 492.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 395.75 m 561.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 395.75 m 352.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 395.75 m 423.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 395.75 m 492.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 395.75 m 561.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 355.75 m 352.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 341.75 m 352.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 339.75 m 352.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 355.75 m 423.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 341.75 m 423.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 339.75 m 423.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 355.75 m 492.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 341.75 m 492.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 339.75 m 492.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 355.75 m 561.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 341.75 m 561.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 339.75 m 561.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 339.75 m 352.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 341.75 m 352.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 326.75 m 352.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 324.75 m 352.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 326.75 m 423.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 324.75 m 423.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 326.75 m 492.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 324.75 m 492.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 326.75 m 561.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 324.75 m 561.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 301.75 m 352.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 299.75 m 352.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 301.75 m 423.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 299.75 m 423.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 301.75 m 492.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 299.75 m 492.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 301.75 m 561.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 299.75 m 561.5 299.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.20 420.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.60 412.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.25 420.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 412.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.50 399.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 399.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 399.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 399.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 385.42 Td (Customer service and billing expenses, excluding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 375.42 Td (connected vehicle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 375.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 375.42 Td (90,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 375.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 375.42 Td (86,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 375.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 375.42 Td (270,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 375.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 375.42 Td (255,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 360.42 Td (Less: share-based payment expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 360.47 Td (\(1,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 360.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.30 360.47 Td (\(793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 360.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 360.47 Td (\(2,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 360.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 360.47 Td (\(2,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 360.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 345.42 Td (89,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 345.42 Td (86,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 345.42 Td (268,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 345.42 Td (252,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 330.42 Td (Daily weighted average number of subscribers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 330.42 Td (30,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 330.42 Td (28,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 330.42 Td (30,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 330.42 Td (28,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 315.42 Td (Customer service and billing expenses, per average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 305.42 Td (subscriber) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 305.42 Td (0.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 305.42 Td (1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 305.42 Td (0.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 305.42 Td (1.00) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 81 0 obj <>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 740.68505859375 m 138.46484375 740.68505859375 l s q 0 0 0 rg BT 77.00 742.25 Td (Fr) Tj ET Q q 0 0 0 rg BT 87.37 742.25 Td (ee cash flow) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.46 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.96 742.25 Td (- is derived from cash flow provided by operating activities, net of additions to property and equipment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 730.25 Td (restricted and other investment activity and the return of capital from investment in unconsolidated entity) Tj ET Q q 0 0 0 rg BT 497.34 730.25 Td (. Free cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 718.25 Td (flow is a metric that our management and board of directors use to evaluate the cash generated by our operations, net of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 706.25 Td (capital expenditures and other investment activity and significant items that do not relate to the on-going performance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 694.25 Td (our business.In a capital intensive business, with significant investments in satellites, we look at our operating cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 682.25 Td (flow) Tj ET Q q 0 0 0 rg BT 94.68 682.25 Td (, net of these investing cash outflows, to determine cash available for future subscriber acquisition and capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 670.25 Td (expenditures, to repurchase or retire debt, to acquire other companies and to evaluate our ability to return capital to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 658.25 Td (stockholders. ) Tj ET Q q 0 0 0 rg BT 132.37 658.25 Td (W) Tj ET Q q 0 0 0 rg BT 141.00 658.25 Td (e believe free cash flow is an indicator of the long-term financial stability of our business.Free cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 646.25 Td (flow) Tj ET Q q 0 0 0 rg BT 94.68 646.25 Td (, which is reconciled to Net cash provided by operating activities, is a Non-GAAP) Tj ET Q q 0 0 0 rg BT 431.72 646.25 Td ( financial measure.) Tj ET Q q 0 0 0 rg BT 512.33 646.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 634.25 Td (measure can be calculated by deducting amounts under the captions Additions to property and equipment and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 622.25 Td (deducting or adding Restricted and other investment activity from Net cash provided by operating activities from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 610.25 Td (unaudited consolidated statements of cash flows, adjusted for any significant legal settlements.) Tj ET Q q 0 0 0 rg BT 460.89 610.25 Td (W) Tj ET Q q 0 0 0 rg BT 469.52 610.25 Td (e have excluded the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 598.25 Td ($210,000 payment related to the pre-1972 sound recordings legal settlement from our free cash flow calculation in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 586.25 Td (three and nine months ended September 30, 2015. Free cash flow should be used in conjunction with other GAAP) Tj ET Q q 0 0 0 rg BT 535.71 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 574.25 Td (financial performance measures and may not be comparable to free cash flow measures presented by other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 562.25 Td (companies.Free cash flow should be viewed as a supplemental measure rather than an alternative measure of cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 550.25 Td (from operating activities, as determined in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 342.75 550.25 Td (.Free cash flow is limited and does not represent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 538.25 Td (remaining cash flows available for discretionary expenditures due to the fact that the measure does not deduct the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 526.25 Td (payments required for debt maturities. ) Tj ET Q q 0 0 0 rg BT 232.33 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 240.96 526.25 Td (e believe free cash flow provides useful supplemental information to investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 514.25 Td (regarding our current cash flow) Tj ET Q q 0 0 0 rg BT 202.41 514.25 Td (, along with other GAAP) Tj ET Q q 0 0 0 rg BT 302.31 514.25 Td ( measures \(such as cash flows from operating and investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 502.25 Td (activities\), to determine our financial condition, and to compare our operating performance to other communications, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 490.25 Td (entertainment and media companies. Free cash flow is calculated as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 431.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 431.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 431.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 431.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 431.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 401.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 401.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 401.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 401.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 401.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 401.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 401.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 401.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 372.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 372.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 372.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 372.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 372.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 372.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 372.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 372.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 342.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 342.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 342.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 342.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 342.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 458.75 m 352.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 458.75 m 356.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 458.75 m 423.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 458.75 m 492.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 458.75 m 496.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 458.75 m 561.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 445.75 m 352.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 445.75 m 423.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 445.75 m 492.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 445.75 m 561.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 445.75 m 352.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 445.75 m 423.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 445.75 m 492.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 445.75 m 561.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 297.75 m 352.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 297.75 m 423.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 297.75 m 492.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 297.75 m 561.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 297.75 m 352.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 283.75 m 352.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 281.75 m 352.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 297.75 m 423.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 283.75 m 423.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 281.75 m 423.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 297.75 m 492.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 283.75 m 492.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 281.75 m 492.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 297.75 m 561.5 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 283.75 m 561.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 281.75 m 561.5 281.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.20 470.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.60 462.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.25 470.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 462.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.50 449.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 449.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 449.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 449.98 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 436.48 Td (Cash Flow information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 422.32 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 421.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 421.42 Td (394,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 421.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 421.42 Td (164,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 421.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 421.42 Td (1,183,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 421.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 421.42 Td (861,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 407.32 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 406.47 Td (\(65,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 406.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 406.47 Td (\(29,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 406.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 406.47 Td (\(136,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 406.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 406.47 Td (\(94,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 406.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 392.32 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.80 391.47 Td (\(233,722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 391.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 391.47 Td (\(276,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 391.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 391.47 Td (\(586,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 391.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 391.47 Td (\(761,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 391.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 377.48 Td (Free Cash Flow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 363.32 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 362.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 362.42 Td (394,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 362.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 362.42 Td (164,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 362.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 362.42 Td (1,183,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 362.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 362.42 Td (861,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 348.32 Td (Equity-related transactions for Holdings) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 224.79 352.85 Td ( \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 347.42 Td (26,876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 347.42 Td (23,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 347.42 Td (32,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 347.42 Td (39,363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 333.32 Td (Additions to property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 332.47 Td (\(65,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 332.47 Td (\(29,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 332.47 Td (\(132,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 332.47 Td (\(90,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 318.32 Td (Purchases of restricted and other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 317.47 Td (\(215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 317.47 Td (\(4,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 317.47 Td (\(3,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 302.42 Td (Pre-1972 sound recordings legal settlement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 302.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 302.42 Td (210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 302.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 302.42 Td (210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 288.32 Td (Free cash flow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 287.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 287.42 Td (356,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 287.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 287.42 Td (368,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 287.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 287.42 Td (1,079,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 287.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 287.42 Td (1,016,045) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 271.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 271.25 Td (Subsequent to our corporate reor) Tj ET Q q 0 0 0 rg BT 198.89 271.25 Td (ganization ef) Tj ET Q q 0 0 0 rg BT 250.63 271.25 Td (fective November 15, 2013, all equity-related transactions are reported as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 259.25 Td (related party transactions within Sirius XM's consolidated financial statements. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.56 259.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.78 259.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.60 259.25 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 247.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 247.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.44 247.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.44 247.25 Td (, this included payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.98 247.25 Td ($32,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.48 247.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.91 247.25 Td ($39,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.41 247.25 Td (, respectively for taxes paid in lieu of shares issued for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 235.25 Td (stock-based compensation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.69 235.25 Td ($348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.69 235.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.13 235.25 Td ($259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.13 235.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 304.79 235.25 Td (, in proceeds from the exercise of stock options. ) Tj ET Q q 0 0 0 rg BT 501.22 235.25 Td (These equity-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 223.25 Td (related transactions are classified as Cash flows provided by financing activities within Holdings' unaudited consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 211.25 Td (statements of cash flows, and therefore, are adjusted to reflect free cash flow at Sirius XM.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 185.68505859375 m 240.1103515625 185.68505859375 l s q 0 0 0 rg BT 77.00 187.25 Td (New vehicle consumer) Tj ET Q q 0 0 0 rg BT 171.79 187.25 Td ( conversion rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.11 187.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.61 187.25 Td (- is defined as the percentage of owners and lessees of new vehicles that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 175.25 Td (receive our satellite radio service and convert to become self-paying subscribers after the initial promotion period. ) Tj ET Q q 0 0 0 rg BT 535.45 175.25 Td (At the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 163.25 Td (time satellite radio enabled vehicles are sold or leased, the owners or lessees generally receive trial subscriptions ranging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 151.25 Td (from three to twelve months. ) Tj ET Q q 0 0 0 rg BT 195.13 151.25 Td (W) Tj ET Q q 0 0 0 rg BT 203.76 151.25 Td (e measure conversion rate three months after the period in which the trial service ends. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 139.25 Td (The metric excludes rental and fleet vehicles.) Tj ET Q endstream endobj 83 0 obj <>] /Rotate 0 /Contents 84 0 R>> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 740.68505859375 m 261.375 740.68505859375 l s q 0 0 0 rg BT 77.00 742.25 Td (Subscriber) Tj ET Q q 0 0 0 rg BT 123.49 742.25 Td ( acquisition cost, per) Tj ET Q q 0 0 0 rg BT 211.09 742.25 Td ( installation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.38 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.88 742.25 Td (- or SAC, per installation, is derived from subscriber acquisition costs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 730.25 Td (mar) Tj ET Q q 0 0 0 rg BT 92.37 730.25 Td (gins from the sale of radios and accessories, divided by the number of satellite radio installations in new vehicles and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 718.25 Td (shipments of aftermarket radios for the period. SAC, per installation, is calculated as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 658.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 658.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 658.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 658.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 658.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 658.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 658.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 658.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 628.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 628.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 628.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 628.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 628.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 628.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 628.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 628.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 686.75 m 352.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 686.75 m 356.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 686.75 m 423.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 686.75 m 492.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 686.75 m 496.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 686.75 m 561.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 673.75 m 352.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 673.75 m 423.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 673.75 m 492.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 673.75 m 561.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 673.75 m 352.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 673.75 m 423.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 673.75 m 492.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 673.75 m 561.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 643.75 m 352.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 629.75 m 352.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 627.75 m 352.5 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 643.75 m 423.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 629.75 m 423.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 627.75 m 423.5 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 643.75 m 492.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 629.75 m 492.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 627.75 m 492.5 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 643.75 m 561.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 629.75 m 561.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 627.75 m 561.5 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 614.75 m 352.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 612.75 m 352.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 614.75 m 423.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 612.75 m 423.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 614.75 m 492.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 612.75 m 492.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 614.75 m 561.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 612.75 m 561.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 599.75 m 352.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 597.75 m 352.5 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 599.75 m 423.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 597.75 m 423.5 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 599.75 m 492.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 597.75 m 492.5 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 599.75 m 561.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 597.75 m 561.5 597.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.20 698.98 Td (For the Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.60 690.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.25 698.98 Td (For the Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 690.98 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.50 677.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 677.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 677.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 677.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 664.32 Td (Subscriber acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 663.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 663.42 Td (120,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 663.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 663.42 Td (133,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 663.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 663.42 Td (381,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 663.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 663.42 Td (391,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 648.42 Td (Less: margin from sales of radios and accessories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 648.47 Td (\(21,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 648.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 648.47 Td (\(16,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 648.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 648.47 Td (\(57,104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 648.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 648.47 Td (\(50,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 648.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 634.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 633.42 Td (98,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 633.42 Td (116,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 633.42 Td (324,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 633.42 Td (340,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 619.32 Td (Installations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 618.42 Td (3,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 618.42 Td (3,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 618.42 Td (10,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 618.42 Td (10,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 604.32 Td (SAC, per installation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 603.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 603.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 603.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 603.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 603.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 603.42 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 603.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 603.42 Td (33) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 85 0 obj <> /View <>>>>> endobj 86 0 obj <> /View <>>>>> endobj 87 0 obj <> endobj 88 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;