Discontinued Operations |
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| Discontinued Operations | 听 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations |
(2) Discontinued Operations On September 9, 2024, 小蓝视频 completed the split-off of its wholly owned subsidiary, 小蓝视频 Sirius XM Holdings (the 鈥溞±妒悠 Sirius XM Holdings Split-Off鈥). The 小蓝视频 Sirius XM Holdings Split-Off was accomplished through the redemption by the Company of each outstanding share of 小蓝视频 SiriusXM common stock in exchange for 0.8375 of a share of 小蓝视频 Sirius XM Holdings common stock, with cash paid in lieu of fractional shares. 小蓝视频 Sirius XM Holdings was comprised of the businesses, assets and liabilities attributed to the 小蓝视频 SiriusXM Group immediately prior to the 小蓝视频 Sirius XM Holdings Split-Off. The 小蓝视频 Sirius XM Holdings Split-Off was intended to be tax-free to holders of 小蓝视频 SiriusXM common stock (except with respect to cash received in lieu of fractional shares). Following the 小蓝视频 Sirius XM Holdings Split-Off, on September 9, 2024, a wholly owned subsidiary of 小蓝视频 Sirius XM Holdings merged with and into Sirius XM Holdings, with Sirius XM Holdings surviving the merger as a wholly owned subsidiary of 小蓝视频 Sirius XM Holdings (the 鈥淢erger鈥 and, together with the 小蓝视频 Sirius XM Holdings Split-Off, the 鈥淭ransactions鈥). As a result of the Transactions, 小蓝视频 Sirius XM Holdings became an independent public company separate from 小蓝视频. As disclosed in note 1, 小蓝视频 Sirius XM Holdings is presented as a discontinued operation in the Company鈥檚 condensed consolidated financial statements as the 小蓝视频 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 provided details about the major classes of line items constituting earnings (loss) from discontinued operations, net of tax as presented in the condensed consolidated statements of operations.
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