XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.25.2

Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets Our intangible assets include the following:
|  |  | June 30, 2025 |  | December 31, 2024
| Weighted Average Useful Lives |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Recorded to Sirius XM Reporting Unit: |  |  |  |  |  |  |  |  |  |  |  |
Indefinite life intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
FCC licenses | Indefinite |  | $ | 8,610 |  |  | $ | — |  |  | $ | 8,610 |  |  | $ | 8,610 |  |  | $ | — |  |  | $ | 8,610 |
Trademarks | Indefinite |  | 930 |  |  | — |  |  | 930 |  |  | 930 |  |  | — |  |  | 930 |
Definite life intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 15 years |  | 570 |  |  | (475) |  |  | 95 |  |  | 570 |  |  | (456) |  |  | 114 |
OEM relationships | 15 years |  | 220 |  |  | (171) |  |  | 49 |  |  | 220 |  |  | (164) |  |  | 56 |
Licensing agreements | 15 years |  | 285 |  |  | (252) |  |  | 33 |  |  | 285 |  |  | (245) |  |  | 40 |
Software and technology | 7 years |  | 28 |  |  | (24) |  |  | 4 |  |  | 28 |  |  | (23) |  |  | 5 |
Due to Acquisitions recorded to Pandora and Off-platform Reporting Unit: |  |  |  |  |  |  |  |  |  |  |  |
Indefinite life intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks | Indefinite |  | 312 |  |  | — |  |  | 312 |  |  | 312 |  |  | — |  |  | 312 |
Definite life intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 8 years |  | 442 |  |  | (357) |  |  | 85 |  |  | 442 |  |  | (331) |  |  | 111 |
Software and technology | 5 years |  | 391 |  |  | (382) |  |  | 9 |  |  | 391 |  |  | (380) |  |  | 11 |
Total intangible assets |  |  | $ | 11,788 |  |  | $ | (1,661) |  |  | $ | 10,127 |  |  | $ | 11,788 |  |  | $ | (1,599) |  |  | $ | 10,189 |
Indefinite Life Intangible Assets We have identified our Federal Communications Commission (“FCC”) licenses and XM and Pandora trademarks as indefinite life intangible assets after considering the expected use of the assets, the regulatory and economic environment within which they are used and the effects of obsolescence on their use. We hold FCC licenses to operate our satellite digital audio radio service and provide ancillary services. Each of the FCC licenses authorizes us to use radio spectrum, a reusable resource that does not deplete or exhaust over time. We hold FCC licenses which allow us the use of 25 MHz for our Sirius and XM satellite networks (12.5 MHz for the Sirius network and 12.5 MHz for the XM network). In 2024, we acquired the licenses in the 2.3 GHz Wireless Communications Service (“WCS”) C and D Blocks. This WCS spectrum consists of 5 MHz of unpaired blocks each, with “C block” being located at 2315-2320 MHz and “D block” being located at 2345-2350 MHz. Our annual impairment assessment of our identifiable indefinite lived intangible assets is performed as of the fourth quarter of each year. An assessment is performed at other times if an event occurs or circumstances change that would more likely than not reduce the fair value of the asset below its carrying value. If the carrying value of the intangible assets exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. As of June 30, 2025, there were no indicators of impairment, and no impairment loss was recognized for intangible assets with indefinite lives during the three and six months ended June 30, 2025 and 2024. Definite Life Intangible Assets Amortization expense for all definite life intangible assets was $31 for each of the three months ended June 30, 2025 and 2024 and $62 and $69 for the six months ended June 30, 2025 and 2024, respectively. There were no retirements or impairments of definite lived intangible assets during the six months ended June 30, 2025 and 2024. The expected amortization expense for each of the fiscal years 2025 through 2029 and for periods thereafter is as follows:
Years ending December 31, |  | Amount
2025 (remaining) |  | $ | 62 |
2026 |  | 123 |
2027 |  | 75 |
2028 |  | 15 |
2029 |  | — |
Thereafter |  | — |
Total definite life intangible assets, net |  | $ | 275 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration