Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Our debt as of December 31, 2024 and December 31, 2023 consisted of the following:

					Principal Amount at		Carrying value(a) at
Issuer / Borrower	Issued	Debt	Maturity Date	Interest Payable	December 31, 2024		December 31, 2024		December 31, 2023
Sirius XM Holdings notes and loans:
Sirius XM Holdings(b)	March 2023	3.75% Convertible Senior Notes	March 15, 2028	Semi-annually in arrears on March 15 and September 15	$	575	$	594	$	688
Sirius XM Holdings(b)	November 2019	2.75% Exchangeable Senior Debentures	December 1, 2049	quarterly in arrears on March 1, June 1, September 1, and December 1	—		—		574
Sirius XM Holdings	Various	Margin Loan	Various	n/a	—		—		695
Sirius XM notes and loans:
Sirius XM(c)	April 2022	Incremental Term Loan	April 11, 2024	variable fee paid monthly	—		—		500
Sirius XM(c)	September 2024	Incremental Term Loan	September 9, 2027	variable fee paid quarterly	1,086		1,086		—
Sirius XM	December 2012	Senior Secured Revolving Credit Facility (the "Credit Facility")	August 31, 2026	variable fee paid quarterly	—		—		—
Sirius XM(c)	August 2021	3.125% Senior Notes	September 1, 2026	semi-annually on March 1 and September 1	1,000		996		994
Sirius XM(c)	July 2017	5.00% Senior Notes	August 1, 2027	semi-annually on February 1 and August 1	1,500		1,495		1,494
Sirius XM(c)	June 2021	4.00% Senior Notes	July 15, 2028	semi-annually on January 15 and July 15	2,000		1,988		1,985
Sirius XM(c)	June 2019	5.500% Senior Notes	July 1, 2029	semi-annually on January 1 and July 1	1,250		1,243		1,241
Sirius XM(c)	June 2020	4.125% Senior Notes	July 1, 2030	semi-annually on January 1 and July 1	1,500		1,490		1,488
Sirius XM(c)	August 2021	3.875% Senior Notes	September 1, 2031	semi-annually on March 1 and September 1	1,500		1,488		1,487
Sirius XM	Various	Finance leases	Various	n/a	n/a		11		15
Total debt							10,391		11,161
Less: total current maturities							61		1,079
Less: total deferred financing costs, net							16		9
Total long-term debt							$	10,314	$	10,073

(a)The carrying value of the obligations is net of any remaining unamortized original issue discount except for the debt measured at fair value noted in (b) below.

(b)Measured at fair value.

(c)On September 3, 2024, Sirius XM added a parent guarantee from Sirius XM Inc. to each series of Sirius XM notes in connection with the conversion of Sirius XM into a Delaware limited liability company. All material domestic subsidiaries, including Pandora and its subsidiaries, that guarantee the Credit Facility have guaranteed the Incremental Term Loan and these notes.

The fair values, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of Sirius XM’s debt securities, not reported at fair value, whose carrying value does not approximate fair value, are as follows:

	December 31, 2024		December 31, 2023
Sirius XM 3.125% Senior Notes due 2026	$	960	$	932
Sirius XM 5.0% Senior Notes due 2027	$	1,459	$	1,444
Sirius XM 4.0% Senior Notes due 2028	$	1,843	$	1,827
Sirius XM 5.50% Senior Notes due 2029	$	1,198	$	1,202
Sirius XM 4.125% Senior Notes due 2030	$	1,311	$	1,326
Sirius XM 3.875% Senior Notes due 2031	$	1,258	$	1,277