Discontinued Operations |
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| Discontinued Operations | 听 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations |
(2) Discontinued Operations On September 9, 2024, 麻豆最新出品 completed the split-off of its wholly owned subsidiary, 麻豆最新出品 Sirius XM Holdings (the 鈥溌槎棺钚鲁銎� Sirius XM Holdings Split-Off鈥�). The 麻豆最新出品 Sirius XM Holdings Split-Off was accomplished through the redemption by the Company of each outstanding share of 麻豆最新出品 SiriusXM common stock in exchange for 0.8375 of a share of 麻豆最新出品 Sirius XM Holdings common stock, with cash paid in lieu of fractional shares. 麻豆最新出品 Sirius XM Holdings was comprised of the businesses, assets and liabilities attributed to the 麻豆最新出品 SiriusXM Group immediately prior to the 麻豆最新出品 Sirius XM Holdings Split-Off. The 麻豆最新出品 Sirius XM Holdings Split-Off was intended to be tax-free to holders of 麻豆最新出品 SiriusXM common stock (except with respect to cash received in lieu of fractional shares). Following the 麻豆最新出品 Sirius XM Holdings Split-Off, on September 9, 2024, a wholly owned subsidiary of 麻豆最新出品 Sirius XM Holdings merged with and into Sirius XM Holdings, with Sirius XM Holdings surviving the merger as a wholly owned subsidiary of 麻豆最新出品 Sirius XM Holdings (the 鈥淢erger鈥� and, together with the 麻豆最新出品 Sirius XM Holdings Split-Off, the 鈥淭ransactions鈥�). As a result of the Transactions, 麻豆最新出品 Sirius XM Holdings became an independent public company separate from 麻豆最新出品. As disclosed in note 1, 麻豆最新出品 Sirius XM Holdings is presented as a discontinued operation in the Company鈥檚 consolidated financial statements as the 麻豆最新出品 Sirius XM Holdings Split-Off represents a strategic shift that had a major effect on the Company鈥檚 operations and financial results. The following table presents a reconciliation of the carrying amounts of the major classes of assets and liabilities of discontinued operations to the total assets and liabilities of discontinued operations as presented in the consolidated balance sheet.
The following table provided details about the major classes of line items constituting earnings (loss) from discontinued operations, net of tax as presented in the consolidated statements of operations. Impairment, restructuring and acquisition costs for the year ended December 31, 2024, in the table below, includes a goodwill impairment loss of $2,819 million related to the Sirius XM Holdings reportable segment and $500 million impairment of Sirius XM Holding鈥檚 equity method investment in Sirius XM Canada Holdings, Inc.
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