Segments and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Segment Reporting Information, by Segment

Segment revenue and gross profit were as follows during the periods presented:


	For the Three Months Ended March 31, 2025
	Sirius XM		Pandora and Off-platform		Total
Revenue
Subscriber revenue	$	1,470	$	132	$	1,602
Advertising revenue	39		355		394
Other revenue	72		—		72
Total revenue	1,581		487		2,068
Cost of services
Revenue share and royalties	$	(379)	$	(308)	$	(687)
Programming and content (a)	(129)		(15)		(144)
Other (a)(b)	(136)		(25)		(161)
Total cost of services	(644)		(348)		(992)
Segment gross profit	$	937	$	139	$	1,076


	For the Three Months Ended March 31, 2024
	Sirius XM		Pandora and Off-platform		Total
Revenue
Subscriber revenue	$	1,547	$	133	$	1,680
Advertising revenue	40		362		402
Other revenue	80		—		80
Total revenue	1,667		495		2,162
Cost of services
Revenue share and royalties	$	(395)	$	(308)	$	(703)
Programming and content (c)	(132)		(16)		(148)
Other (c)(d)	(147)		(28)		(175)
Total cost of services	(674)		(352)		(1,026)
Segment gross profit	$	993	$	143	$	1,136

Schedule of Reconciliation of Revenue from Segments to Consolidated

The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:


	For the Three Months Ended March 31, 2025
Segment Gross Profit	$	1,076
Subscriber acquisition costs	(100)
Sales and marketing (a)	(176)
Product and technology (a)	(63)
General and administrative (a)	(108)
Depreciation and amortization	(144)
Share-based payment expense	(50)
Impairment, restructuring and acquisition costs	(48)

Total other (expense) income	(118)
Consolidated income before income taxes	$	269

(a) Share-based payment expense of $12 related to cost of services, $14 related to sales and marketing, $10 related to product and technology and $14 related to general and administrative has been excluded for the three months ended March 31, 2025.

(b) Sirius XM other costs of services related to customer service and billing of $93, transmission costs of $41 and cost of equipment of $2. Pandora other costs of services related to customer service and billing of $18 and transmission costs of $7.

The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:



	For the Three Months Ended March 31, 2024
Segment Gross Profit	$	1,136
Subscriber acquisition costs	(90)
Sales and marketing (c)	(217)
Product and technology (c)	(74)
General and administrative (c)	(111)
Depreciation and amortization	(155)
Share-based payment expense	(48)
Impairment, restructuring and acquisition costs	(32)
Total other (expense) income	(100)
Consolidated income before income taxes	$	309

(c) Share-based payment expense of $11 related to cost of services, $12 related to sales and marketing, $12 related to product and technology and $13 related to general and administrative has been excluded for the three months ended March 31, 2024.

(d) Sirius XM other costs of services related to customer service and billing of $96, transmission costs of $49 and cost of equipment of $2. Pandora other costs of services related to customer service and billing of $19 and transmission costs of $9.