Document
false--12-31Q120202020-03-310001415404P1YP1YP1YP5YP4YP3YP3YP1YP10Y07500000P7Y0.0010.0010.0010.0010.0010.0010.0010.0010.0010.00140000000008000000001600000000800000000800000000400000000080000000016000000008000000008000000000565922514768703900567604334768703900501073304768703900500785134768703900.076250.05250.06625P5Y0.0010.00120000000200000000000P15YP7YP15Y0 0001415404 2020-01-01 2020-03-31 0001415404 2019-01-01 2019-12-31 0001415404 us-gaap:CommonClassBMember 2020-04-30 0001415404 us-gaap:CommonClassAMember 2020-04-30 0001415404 2020-03-31 0001415404 2019-12-31 0001415404 us-gaap:CommonClassBMember 2019-12-31 0001415404 us-gaap:CommonClassAMember 2019-12-31 0001415404 sats:CommonClassDMember 2020-03-31 0001415404 us-gaap:PreferredStockMember 2020-03-31 0001415404 us-gaap:CommonClassAMember 2020-03-31 0001415404 us-gaap:CommonClassCMember 2020-03-31 0001415404 us-gaap:PreferredStockMember 2019-12-31 0001415404 us-gaap:CommonClassCMember 2019-12-31 0001415404 sats:CommonClassDMember 2019-12-31 0001415404 us-gaap:CommonClassBMember 2020-03-31 0001415404 2019-01-01 2019-03-31 0001415404 us-gaap:ProductMember 2019-01-01 2019-03-31 0001415404 us-gaap:ProductMember 2020-01-01 2020-03-31 0001415404 sats:ServicesAndOtherRevenueMember 2020-01-01 2020-03-31 0001415404 sats:ServicesAndOtherRevenueMember 2019-01-01 2019-03-31 0001415404 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001415404 us-gaap:TreasuryStockMember 2019-12-31 0001415404 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001415404 us-gaap:TreasuryStockMember 2019-03-31 0001415404 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001415404 us-gaap:NoncontrollingInterestMember 2019-12-31 0001415404 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0001415404 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001415404 us-gaap:TreasuryStockMember 2018-12-31 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001415404 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001415404 us-gaap:TreasuryStockMember 2020-01-01 2020-03-31 0001415404 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001415404 us-gaap:RetainedEarningsMember 2020-03-31 0001415404 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001415404 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 0001415404 2020-01-01 0001415404 2019-03-31 0001415404 us-gaap:CommonStockMember 2020-03-31 0001415404 us-gaap:RetainedEarningsMember 2018-12-31 0001415404 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001415404 us-gaap:RetainedEarningsMember 2020-01-01 0001415404 us-gaap:CommonStockMember 2019-03-31 0001415404 us-gaap:NoncontrollingInterestMember 2020-01-01 0001415404 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001415404 us-gaap:CommonStockMember 2019-12-31 0001415404 us-gaap:NoncontrollingInterestMember 2018-12-31 0001415404 us-gaap:NoncontrollingInterestMember 2019-03-31 0001415404 us-gaap:TreasuryStockMember 2020-01-01 0001415404 2018-12-31 0001415404 us-gaap:NoncontrollingInterestMember 2020-03-31 0001415404 us-gaap:RetainedEarningsMember 2019-12-31 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001415404 us-gaap:RetainedEarningsMember 2019-03-31 0001415404 us-gaap:TreasuryStockMember 2020-03-31 0001415404 us-gaap:CommonStockMember 2018-12-31 0001415404 us-gaap:CommonStockMember 2020-01-01 0001415404 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001415404 sats:DISHNetworkMember us-gaap:CommonClassAMember 2019-09-01 2019-09-30 0001415404 sats:DISHNetworkMember us-gaap:CommonClassAMember 2019-09-30 0001415404 sats:BSSCorp.Member us-gaap:CommonStockMember 2019-09-30 0001415404 us-gaap:AccountingStandardsUpdate201613Member us-gaap:RetainedEarningsMember 2020-01-01 0001415404 sats:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2020-01-01 0001415404 sats:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember 2020-01-01 0001415404 sats:LeaseReceivableMember 2020-03-31 0001415404 sats:LeaseReceivableMember 2019-12-31 0001415404 us-gaap:ServiceMember 2019-12-31 0001415404 us-gaap:ServiceMember 2020-03-31 0001415404 us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0001415404 srt:NorthAmericaMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:SouthAndCentralAmericaMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:SouthAndCentralAmericaMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 sats:SouthAndCentralAmericaMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:SouthAndCentralAmericaMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember srt:NorthAmericaMember 2019-01-01 2019-03-31 0001415404 sats:AllOtherGeographicSegmentsMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:AllOtherGeographicSegmentsMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:AllOtherGeographicSegmentsMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:SouthAndCentralAmericaMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:AllOtherGeographicSegmentsMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 sats:AllOtherGeographicSegmentsMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember srt:NorthAmericaMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:AllOtherGeographicSegmentsMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:AllOtherGeographicSegmentsMember 2020-01-01 2020-03-31 0001415404 srt:NorthAmericaMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:AllOtherGeographicSegmentsMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember srt:NorthAmericaMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:SouthAndCentralAmericaMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:SouthAndCentralAmericaMember 2020-01-01 2020-03-31 0001415404 sats:SouthAndCentralAmericaMember 2020-01-01 2020-03-31 0001415404 sats:ServicesLeaseMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ProductMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesLeaseMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ProductMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 sats:ServicesDesignDevelopmentAndConstructionMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember us-gaap:ProductMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember us-gaap:ServiceMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember us-gaap:ProductMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesDesignDevelopmentAndConstructionMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 sats:ServicesLeaseMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesLeaseMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ServicesAndOtherRevenueMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ServicesAndOtherRevenueMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesAndOtherRevenueMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ServicesLeaseMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ProductLeaseMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesAndOtherRevenueMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 sats:ProductLeaseMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ServiceMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 sats:EquipmentProductMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesLeaseMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:EquipmentProductMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 sats:ProductLeaseMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ServiceMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ProductLeaseMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 sats:ServicesDesignDevelopmentAndConstructionMember 2019-01-01 2019-03-31 0001415404 sats:EquipmentProductMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:EquipmentProductMember 2020-01-01 2020-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember us-gaap:ServiceMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ServicesLeaseMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ProductLeaseMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ProductMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:ServiceMember 2019-01-01 2019-03-31 0001415404 us-gaap:ServiceMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:EquipmentProductMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ProductLeaseMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesLeaseMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ProductMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ServicesDesignDevelopmentAndConstructionMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:EquipmentProductMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesDesignDevelopmentAndConstructionMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:EquipmentProductMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ServiceMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesAndOtherRevenueMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember us-gaap:ServiceMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ProductLeaseMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesDesignDevelopmentAndConstructionMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ProductLeaseMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesDesignDevelopmentAndConstructionMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:ServicesAndOtherRevenueMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:MaterialReconcilingItemsMember sats:ServicesDesignDevelopmentAndConstructionMember 2020-01-01 2020-03-31 0001415404 us-gaap:OperatingSegmentsMember sats:EquipmentProductMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 sats:AssetsLeasedToOthersRealEstateMember 2020-03-31 0001415404 sats:AssetsLeasedToOthersRealEstateMember 2019-12-31 0001415404 us-gaap:AssetsLeasedToOthersMember 2020-03-31 0001415404 sats:AssetsLeasedToOthersCustomerPremisesEquipmentMember 2020-03-31 0001415404 sats:AssetsLeasedToOthersSatellitesMember 2019-12-31 0001415404 sats:AssetsLeasedToOthersSatellitesMember 2020-03-31 0001415404 sats:AssetsLeasedToOthersCustomerPremisesEquipmentMember 2019-12-31 0001415404 us-gaap:AssetsLeasedToOthersMember 2019-12-31 0001415404 us-gaap:AssetsLeasedToOthersMember 2019-01-01 2019-03-31 0001415404 us-gaap:AssetsLeasedToOthersMember 2020-01-01 2020-03-31 0001415404 sats:AssetsLeasedToOthersSatellitesMember 2019-01-01 2019-03-31 0001415404 sats:AssetsLeasedToOthersRealEstateMember 2019-01-01 2019-03-31 0001415404 sats:AssetsLeasedToOthersRealEstateMember 2020-01-01 2020-03-31 0001415404 sats:AssetsLeasedToOthersSatellitesMember 2020-01-01 2020-03-31 0001415404 sats:AssetsLeasedToOthersCustomerPremisesEquipmentMember 2019-01-01 2019-03-31 0001415404 sats:AssetsLeasedToOthersCustomerPremisesEquipmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:SegmentDiscontinuedOperationsMember sats:BSSBusinessMember 2019-01-01 2019-03-31 0001415404 sats:ServicesAndOtherRevenueMember us-gaap:SegmentDiscontinuedOperationsMember sats:BSSBusinessMember sats:DISHNetworkMember 2019-01-01 2019-03-31 0001415404 sats:ServicesAndOtherRevenueMember us-gaap:SegmentDiscontinuedOperationsMember sats:BSSBusinessMember 2019-01-01 2019-03-31 0001415404 sats:DISHNetworkMember sats:EchoStarTechnologiesBusinessMember sats:ShareExchangeAgreementMember 2017-02-28 0001415404 sats:TelesatCanadaMember sats:TeleSatTransponderAgreementMember 2009-09-30 0001415404 sats:QuetzSat1Member sats:DISHNetworkMember sats:SatelliteCapacityLeaseAgreementMember 2013-02-28 0001415404 sats:SESLatinAmericaMember sats:QuetzSat1Member sats:SatelliteServicesAgreementMember 2008-11-30 0001415404 sats:QuetzSat1Member sats:DISHNetworkMember sats:SatelliteCapacityLeaseAgreementMember 2008-11-30 0001415404 sats:DISHNetworkMember sats:DISHNimiq5AgreementMember 2009-09-30 0001415404 sats:YahsatMember 2019-11-30 0001415404 sats:YahsatMember us-gaap:UseRightsMember 2019-11-30 0001415404 sats:YahsatMember 2019-11-01 2019-11-30 0001415404 sats:YahsatMember 2020-03-31 0001415404 sats:YahsatMember us-gaap:OperatingAndBroadcastRightsMember 2019-11-30 0001415404 sats:YahsatMember us-gaap:OperatingAndBroadcastRightsMember 2019-11-01 2019-11-30 0001415404 2019-10-01 2019-12-31 0001415404 us-gaap:StockCompensationPlanMember 2019-01-01 2019-12-31 0001415404 us-gaap:StockCompensationPlanMember 2020-01-01 2020-03-31 0001415404 us-gaap:CorporateBondSecuritiesMember 2020-03-31 0001415404 us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001415404 us-gaap:OtherDebtSecuritiesMember 2020-03-31 0001415404 us-gaap:CorporateBondSecuritiesMember 2019-12-31 0001415404 sats:CorporateBondSecuritiesExcludingFairValueOptionMember 2019-01-01 2019-03-31 0001415404 sats:CorporateBondSecuritiesExcludingFairValueOptionMember 2020-01-01 2020-03-31 0001415404 sats:CorporateBondSecuritiesExcludingFairValueOptionMember 2020-03-31 0001415404 sats:DebtSecuritiesExcludingFairValueOptionMember 2020-03-31 0001415404 sats:CorporateBondSecuritiesExcludingFairValueOptionMember 2019-12-31 0001415404 sats:DebtSecuritiesExcludingFairValueOptionMember 2019-12-31 0001415404 us-gaap:FairValueInputsLevel1Member 2020-03-31 0001415404 us-gaap:FairValueInputsLevel1Member us-gaap:CorporateBondSecuritiesMember 2020-03-31 0001415404 us-gaap:FairValueInputsLevel1Member 2019-12-31 0001415404 us-gaap:FairValueInputsLevel2Member 2020-03-31 0001415404 us-gaap:FairValueInputsLevel2Member us-gaap:OtherDebtSecuritiesMember 2020-03-31 0001415404 us-gaap:FairValueInputsLevel1Member us-gaap:OtherDebtSecuritiesMember 2020-03-31 0001415404 us-gaap:FairValueInputsLevel1Member us-gaap:CorporateBondSecuritiesMember 2019-12-31 0001415404 us-gaap:FairValueInputsLevel2Member 2019-12-31 0001415404 us-gaap:FairValueInputsLevel1Member us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001415404 us-gaap:FairValueInputsLevel2Member us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001415404 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateBondSecuritiesMember 2019-12-31 0001415404 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateBondSecuritiesMember 2020-03-31 0001415404 us-gaap:PropertyPlantAndEquipmentOtherTypesMember 2020-03-31 0001415404 sats:SatellitesMember 2020-03-31 0001415404 sats:SatellitesMember 2019-12-31 0001415404 us-gaap:PropertyPlantAndEquipmentOtherTypesMember 2019-12-31 0001415404 sats:AssetHeldUnderFinanceLeaseMember 2020-01-01 2020-03-31 0001415404 srt:MinimumMember sats:SatellitesMember 2020-01-01 2020-03-31 0001415404 srt:MaximumMember sats:SatellitesMember 2020-01-01 2020-03-31 0001415404 sats:SatellitesLeasedMember 2019-12-31 0001415404 sats:SatellitesOwnedMember 2019-01-01 2019-12-31 0001415404 sats:SatellitesMember 2019-01-01 2019-12-31 0001415404 sats:EchoStarIXMember 2020-01-01 2020-03-31 0001415404 sats:AlYah3Member 2020-01-01 2020-03-31 0001415404 sats:Telesat19VMember 2020-01-01 2020-03-31 0001415404 sats:Eutelsat65WestAMember 2020-01-01 2020-03-31 0001415404 sats:EchoStarXXIMember 2020-01-01 2020-03-31 0001415404 sats:EchoStarXIXMember 2020-01-01 2020-03-31 0001415404 sats:SPACEWAY3Member 2020-01-01 2020-03-31 0001415404 sats:EchoStarXVIIMember 2020-01-01 2020-03-31 0001415404 sats:EchoStar105SES11Member 2020-01-01 2020-03-31 0001415404 sats:ConstructioninProgressSatellitesMember 2020-03-31 0001415404 sats:SatellitesOwnedMember 2019-12-31 0001415404 sats:AssetHeldUnderFinanceLeaseMember 2019-12-31 0001415404 sats:SatellitesOwnedMember 2020-03-31 0001415404 sats:AssetHeldUnderFinanceLeaseMember 2020-03-31 0001415404 sats:ConstructioninProgressSatellitesMember 2019-12-31 0001415404 sats:SatellitesMember 2019-01-01 2019-03-31 0001415404 sats:SatellitesMember 2020-01-01 2020-03-31 0001415404 sats:SatelliteRelatedObligationMember 2019-12-31 0001415404 sats:SatelliteRelatedObligationMember 2020-03-31 0001415404 us-gaap:UseRightsMember 2019-01-01 2019-03-31 0001415404 us-gaap:UseRightsMember 2020-03-31 0001415404 us-gaap:UseRightsMember 2019-12-31 0001415404 us-gaap:UseRightsMember 2018-12-31 0001415404 us-gaap:UseRightsMember 2020-01-01 2020-03-31 0001415404 us-gaap:UseRightsMember 2019-03-31 0001415404 2019-11-01 2019-11-30 0001415404 us-gaap:LicensingAgreementsMember 2019-11-01 2019-11-30 0001415404 sats:DeluxeEchoStarLLCMember 2020-03-31 0001415404 sats:BroadbandConnectivitySolutionsMember 2019-01-01 2019-03-31 0001415404 sats:BroadbandConnectivitySolutionsMember 2020-03-31 0001415404 sats:BroadbandConnectivitySolutionsMember 2019-12-31 0001415404 sats:DeluxeEchoStarLLCMember 2019-10-01 2019-12-31 0001415404 sats:DeluxeEchoStarLLCMember 2020-01-01 2020-03-31 0001415404 sats:BroadbandConnectivitySolutionsMember 2020-01-01 2020-03-31 0001415404 sats:DeluxeEchoStarLLCMember 2019-12-31 0001415404 sats:BroadbandConnectivitySolutionsMember 2018-12-01 2018-12-31 0001415404 sats:BroadbandConnectivitySolutionsMember 2018-12-31 0001415404 sats:DeluxeEchoStarLLCMember 2019-03-31 0001415404 sats:DishMexicoMember 2020-03-31 0001415404 us-gaap:AccountingStandardsUpdate201613Member sats:InvestmentsInAndAdvancesToAffiliatesSubsidiariesAssociatesAndJointVenturesMember 2020-01-01 0001415404 sats:SeniorNotes7.625PercentDue2021Member 2020-03-31 0001415404 sats:SeniorNotes7.625PercentDue2021Member 2019-12-31 0001415404 sats:SeniorUnsecuredNotes6.625PercentDue2026Member 2019-12-31 0001415404 sats:SeniorSecuredNotes5.250PercentDue2026Member 2020-03-31 0001415404 sats:SeniorSecuredNotes5.250PercentDue2026Member 2019-12-31 0001415404 sats:SeniorUnsecuredNotes6.625PercentDue2026Member 2020-03-31 0001415404 sats:HughesNetworkSystemsMember sats:ElbitMember 2019-12-01 2019-12-31 0001415404 sats:LicenseFeeDisputeMember sats:AdditionalLicenseFeeMember 2020-01-01 2020-03-31 0001415404 sats:HughesNetworkSystemsMember sats:LicenseFeeDisputeMember 2019-12-31 0001415404 sats:LicenseFeeDisputeMember sats:PenaltiesMember 2020-01-01 2020-03-31 0001415404 sats:HughesNetworkSystemsMember sats:LicenseFeeDisputeMember 2020-03-31 0001415404 sats:LicenseFeeDisputeMember 2020-01-01 2020-03-31 0001415404 sats:HughesNetworkSystemsMember sats:LicenseFeeDisputeMember sats:AdditionalLicenseFeeMember 2020-03-31 0001415404 sats:HughesNetworkSystemsMember sats:LicenseFeeDisputeMember sats:PenaltiesMember 2020-03-31 0001415404 sats:HughesNetworkSystemsMember sats:LicenseFeeDisputeMember sats:InterestandInterestonPenaltiesMember 2020-03-31 0001415404 sats:LicenseFeeDisputeMember sats:InterestandInterestonPenaltiesMember 2020-01-01 2020-03-31 0001415404 us-gaap:CorporateNonSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:IntersegmentEliminationMember sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 sats:HughesBusinessSegmentMember 2020-01-01 2020-03-31 0001415404 us-gaap:IntersegmentEliminationMember sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:CorporateNonSegmentMember 2019-01-01 2019-03-31 0001415404 sats:CorporateAndEliminationsMember 2020-01-01 2020-03-31 0001415404 us-gaap:IntersegmentEliminationMember sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 sats:EchoStarSatelliteServicesBusinessMember 2020-01-01 2020-03-31 0001415404 sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 us-gaap:IntersegmentEliminationMember 2020-01-01 2020-03-31 0001415404 us-gaap:IntersegmentEliminationMember 2019-01-01 2019-03-31 0001415404 sats:CorporateAndEliminationsMember 2019-01-01 2019-03-31 0001415404 sats:HughesBusinessSegmentMember 2019-01-01 2019-03-31 0001415404 us-gaap:IntersegmentEliminationMember sats:EchoStarSatelliteServicesBusinessMember 2019-01-01 2019-03-31 0001415404 srt:ScenarioForecastMember sats:DISHNetworkMember sats:DBSDNorthAmericaAgreementMember 2022-02-01 2022-02-28 0001415404 sats:DISHNetworkMember sats:HughesBroadbandMasterServicesAgreementMember 2017-03-01 2017-03-31 0001415404 sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2015-08-01 2015-08-31 0001415404 sats:DISHNetworkMember sats:EchoStarAmendedandRestatedProfessionalServicesAgreementMember 2019-09-01 2019-09-30 0001415404 sats:DISHNetworkMember sats:TTCAgreementMember 2019-09-01 2019-09-30 0001415404 sats:DISHNetworkMember sats:HughesEquipmentAndServiceAgreementMember 2019-02-01 2019-02-28 0001415404 sats:RelatedPartyTransactionsLesseeOperatingLeaseRealEstateMember sats:DISHNetworkMember sats:AmericanForkOccupancyLicenseAgreementMember 2017-08-31 0001415404 sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2019-09-01 2019-09-30 0001415404 sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2017-08-01 2017-08-31 0001415404 sats:CielSatelliteHoldingsIncMember sats:DISHNetworkMember sats:A103SpectrumDevelopmentAgreementMember 2012-05-01 2012-05-31 0001415404 sats:RelatedPartyTransactionsLessorOperatingLeaseRealEstateMember sats:DISHNetworkMember sats:MeridianLeaseAgreementMember 2020-01-01 2020-03-31 0001415404 sats:RelatedPartyTransactionsLessorOperatingLeaseRealEstateMember sats:DISHNetworkMember sats:A100InvernessLeaseAgreementMember 2017-03-01 2017-03-31 0001415404 sats:DISHNetworkMember sats:TerreStarAgreementMember 2017-12-01 2017-12-31 0001415404 sats:DISHNetworkMember sats:HughesBroadbandDistributionAgreementMember 2020-01-01 2020-03-31 0001415404 sats:HughesBroadbandDistributionAgreementMember 2012-10-01 2012-10-31 0001415404 sats:DISHNetworkMember sats:HughesBroadbandDistributionAgreementMember 2012-10-01 2012-10-31 0001415404 sats:DISHNetworkMember sats:DBSDNorthAmericaAgreementMember 2019-02-01 2019-02-28 0001415404 sats:DISHNetworkMember sats:DBSDNorthAmericaAgreementMember 2017-12-01 2017-12-31 0001415404 sats:DISHNetworkMember us-gaap:SubsequentEventMember sats:DBSDNorthAmericaAgreementMember 2022-02-01 2022-02-28 0001415404 sats:DISHNetworkMember 2019-01-01 2019-03-31 0001415404 sats:DISHNetworkMember 2020-01-01 2020-03-31 0001415404 sats:DISHNetworkMember 2020-03-31 0001415404 sats:DISHNetworkMember 2019-12-31 0001415404 sats:RelatedPartyTransactionsLesseeOperatingLeaseRealEstateMember sats:DISHNetworkMember sats:CheyenneLeaseAgreementMember 2018-08-31 0001415404 sats:RelatedPartyTransactionsLesseeOperatingLeaseRealEstateMember sats:DISHNetworkMember sats:CheyenneLeaseAgreementMember 2019-02-01 2019-02-28 0001415404 srt:MaximumMember sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2017-08-01 2017-08-31 0001415404 srt:MinimumMember sats:DISHNetworkMember sats:AntennaSpaceAndPowerAgreementsMember 2019-09-01 2019-09-30 0001415404 srt:MaximumMember sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2019-09-01 2019-09-30 0001415404 srt:MinimumMember sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2019-09-01 2019-09-30 0001415404 srt:MinimumMember sats:DISHNetworkMember sats:CollocationandAntennaSpaceAgreementsMember 2017-08-01 2017-08-31 0001415404 srt:MaximumMember sats:DISHNetworkMember sats:AntennaSpaceAndPowerAgreementsMember 2019-09-01 2019-09-30 0001415404 sats:DISHNetworkMember sats:HughesBroadbandMasterServicesAgreementMember 2020-01-01 2020-03-31 0001415404 sats:DISHNetworkMember sats:HughesBroadbandMasterServicesAgreementMember 2019-01-01 2019-03-31 0001415404 sats:HughesSystiqueCorporationMember 2020-01-01 2020-03-31 0001415404 sats:TerreStarSolutionsInc.Member 2019-12-31 0001415404 sats:TerreStarSolutionsInc.Member 2019-01-01 2019-03-31 0001415404 sats:TerreStarSolutionsInc.Member 2020-03-31 0001415404 sats:TerreStarSolutionsInc.Member 2020-01-01 2020-03-31 0001415404 sats:GlobalIPRevenueMember 2020-03-31 0001415404 sats:GlobalIPRevenueMember 2020-01-01 2020-03-31 0001415404 sats:GlobalIPRevenueMember 2019-12-31 0001415404 sats:GlobalIPRevenueMember 2019-01-01 2019-03-31 0001415404 sats:MaxarTechnologiesInc.Member 2019-01-01 2019-03-31 0001415404 sats:MaxarTechnologiesInc.Member 2020-01-01 2020-03-31 0001415404 sats:MaxarTechnologiesInc.Member 2020-03-31 0001415404 sats:MaxarTechnologiesInc.Member 2019-12-31 0001415404 us-gaap:CostOfSalesMember 2020-01-01 2020-03-31 0001415404 us-gaap:CostOfSalesMember 2019-01-01 2019-03-31 0001415404 us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-03-31 0001415404 us-gaap:ResearchAndDevelopmentExpenseMember 2020-01-01 2020-03-31 0001415404 sats:ContractAcquisitionCostsMember 2019-12-31 0001415404 sats:ContractAcquisitionCostsMember 2020-03-31 0001415404 sats:ContractFulfillmentCostsMember 2019-12-31 0001415404 sats:ContractFulfillmentCostsMember 2020-03-31 0001415404 us-gaap:OtherCurrentAssetsMember 2019-12-31 0001415404 us-gaap:OtherCurrentAssetsMember 2020-01-01 2020-03-31 0001415404 us-gaap:OtherNoncurrentAssetsMember 2020-01-01 2020-03-31 0001415404 us-gaap:OtherNoncurrentAssetsMember 2019-12-31 0001415404 us-gaap:OtherNoncurrentAssetsMember 2020-03-31 0001415404 us-gaap:OtherCurrentAssetsMember 2020-03-31 iso4217:USD sats:transponder xbrli:pure sats:segment xbrli:shares iso4217:USD xbrli:shares sats:satellite utreg:mi


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
 
FORM 10-Q
 
(Mark One)
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020.
 
OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM                TO                
 
Commission File Number:  001-33807
 
EchoStar Corporation
(Exact name of registrant as specified in its charter)
Nevada
 
26-1232727
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
 
 
 
 
100 Inverness Terrace East,
Englewood,
Colorado
 
80112-5308
(Address of principal executive offices)
 
(Zip Code)
 
 
 
 
 
(303)
706-4000
 
 
Not Applicable
(Registrant’s telephone number, including area code)
 
(Former name, former address and former fiscal year, if changed since last report)
 
 
 
 
 
Securities registered pursuant to Section 12(b) of the Act:
 
 
Class A common stock
 $0.001 par value
 
The NASDAQ Stock Market LLC
(Title of each class)
 
(Name of each exchange on which registered)
SATS
 
 
(Ticker symbol)
 
 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.  Yes    No 
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes   No 
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.  (Check one): 
Large accelerated filer
Accelerated filer 
Emerging growth company
Non-accelerated filer
Smaller reporting company
 
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  No 
 
As of April 30, 2020, the registrant’s outstanding common stock consisted of 50,187,977 shares of Class A common stock and 47,687,039 shares of Class B common stock, each $0.001 par value.




TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
 
This Quarterly Report on Form 10-Q (“Form 10-Q”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements about our estimates, expectations, plans, objectives, strategies, financial condition, expected impact of regulatory developments and legal proceedings, opportunities in our industries and businesses and other trends and projections for the next fiscal quarter and beyond. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements may also be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “estimate,” “expect,” “predict,” “continue,” “future,” “will,” “would,” “could,” “can,” “may” and similar terms. These forward-looking statements are based on information available to us as of the date of this Form 10-Q and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve potential known and unknown risks, uncertainties and other factors, many of which may be beyond our control and may pose a risk to our operating and financial condition. Accordingly, actual performance, events or results could differ materially from those expressed or implied in the forward-looking statements due to a number of factors including, but not limited to: 

significant risks related to the construction and operation of our satellites, such as the risk of not being able to timely complete the construction of or material malfunction on one or more of our satellites, changes in the space weather environment that could interfere with the operation of our satellites and our general lack of commercial insurance coverage on our satellites;
our ability and the ability of third parties with whom we engage in order to operate our business, including customers, suppliers, vendors, financing sources, governmental entities and others, to successfully or fully operate as a result of outbreaks of viruses or widespread illness, including existing, continuing and future impacts and consequences of the COVID-19 pandemic caused by the novel coronavirus;
our ability to implement and/or realize benefits of our domestic and/or international investments, commercial alliances, partnerships, joint ventures, acquisitions, dispositions and other strategic initiatives and transactions;
lawsuits relating to the BSS Transaction or AGR matter (each as defined herein), which could result in substantial costs and, for the AGR matter, material adverse effects on our business, results of operation, financial condition and prospects in India;
our ability to realize the anticipated benefits of our current satellites and any future satellite we may construct or acquire;
risks related to our foreign operations and other uncertainties associated with doing business internationally, including changes in foreign exchange rates between foreign currencies and the United States (“U.S.”) dollar, economic instability, political disturbances and the consequences of being subject to foreign regulation and foreign legal proceedings, including increased operations costs and potential fines and penalties for violations, which may be substantial;
the failure of third-party providers of components, manufacturing, installation services and customer support services to appropriately deliver the contracted goods or services; and
our ability to bring advanced technologies to market to keep pace with our customers and competitors.

Other factors that could cause or contribute to such differences include, but are not limited to, those discussed under the caption Risk Factors in Part II, Item 1A of this Form 10-Q and in Part I, Item 1A of our most recent Annual Report on Form 10-K (“Form 10-K”) filed with the Securities and Exchange Commission (“SEC”), those discussed in Management’s Discussion and Analysis of Financial Condition and Results of Operations in Part I, Item 2 of this Form 10-Q and in Part II, Item 7 of our Form 10-K and those discussed in other documents we file with the SEC.
 
All cautionary statements made herein should be read as being applicable to all forward-looking statements wherever they appear. Investors should consider the risks and uncertainties described herein and should not place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, events, levels of activity, performance or achievements. We do not assume responsibility for the accuracy and completeness of any forward-looking statements. We assume no responsibility for updating

i



forward-looking information contained or incorporated by reference herein or in any documents we file with the SEC, except as required by law.

Should one or more of the risks or uncertainties described herein or in any documents we file with the SEC occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements.

ii



PART I — FINANCIAL INFORMATION

ITEM 1.    FINANCIAL STATEMENTS

ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share and per share amounts)
(Unaudited)
 

As of


March 31, 2020

December 31, 2019
Assets




Current assets:

 


 

Cash and cash equivalents

$
1,599,025


$
1,519,431

Marketable investment securities

790,361


940,623

Trade accounts receivable and contract assets, net

187,919


196,629

Other current assets, net

189,887


179,531

Total current assets

2,767,192


2,836,214

Non-current assets:

 


 

Property and equipment, net

2,428,543


2,528,738

Operating lease right-of-use assets

119,794


114,042

Goodwill

509,315


506,953

Regulatory authorizations, net

471,164


478,598

Other intangible assets, net

25,826


29,507

Other investments, net

298,147


325,405

Other non-current assets, net

339,640


334,841

Total non-current assets

4,192,429


4,318,084

Total assets

$
6,959,621


$
7,154,298

 
 
 
 
 
Liabilities and Stockholders’ Equity

 


 

Current liabilities:

 


 

Trade accounts payable

$
107,245


$
124,080

Contract liabilities

99,266


101,060

Accrued expenses and other current liabilities

239,706


270,879

Total current liabilities

446,217


496,019

Non-current liabilities:

 


 

Long-term debt

2,390,218


2,389,168

Deferred tax liabilities, net

339,006


351,692

Operating lease liabilities

105,482


96,941

Other non-current liabilities

73,123


74,925

Total non-current liabilities

2,907,829


2,912,726

Total liabilities

3,354,046


3,408,745

 
 
 
 
 
Commitments and contingencies








Stockholders’ equity:
 
 

 
 

Preferred stock, $0.001 par value, 20,000,000 shares authorized, none issued and outstanding at both March 31, 2020 and December 31, 2019
 

 

Common stock, $0.001 par value, 4,000,000,000 shares authorized:
 
 

 
 

Class A common stock, $0.001 par value, 1,600,000,000 shares authorized, 56,760,433 shares issued and 50,078,513 shares outstanding at March 31, 2020 and 56,592,251 shares issued and 50,107,330 shares outstanding at December 31, 2019
 
57

 
57

Class B convertible common stock, $0.001 par value, 800,000,000 shares authorized, 47,687,039 shares issued and outstanding at both March 31, 2020 and December 31, 2019
 
48

 
48

Class C convertible common stock, $0.001 par value, 800,000,000 shares authorized, none issued and outstanding at both March 31, 2020 and December 31, 2019
 

 

Class D common stock, $0.001 par value, 800,000,000 shares authorized, none issued and outstanding at both March 31, 2020 and December 31, 2019
 

 

Additional paid-in capital
 
3,307,360

 
3,290,483

Accumulated other comprehensive income (loss)
 
(192,218
)
 
(122,138
)
Accumulated earnings (losses)
 
569,446

 
632,809

Treasury stock, at cost
 
(137,347
)
 
(131,454
)
Total EchoStar Corporation stockholders’ equity
 
3,547,346

 
3,669,805

Non-controlling interests
 
58,229

 
75,748

Total stockholders’ equity
 
3,605,575

 
3,745,553

Total liabilities and stockholders’ equity
 
$
6,959,621

 
$
7,154,298


































The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

1



ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
(Unaudited)
 
 
For the three months
ended March 31,
 
 
2020
 
2019
Revenue:
 
 
 
 
Services and other revenue
 
$
408,357

 
$
402,668

Equipment revenue
 
57,309

 
51,714

Total revenue
 
465,666

 
454,382

Costs and expenses:
 
 
 
 
Cost of sales - services and other (exclusive of depreciation and amortization)
 
145,252

 
143,347

Cost of sales - equipment (exclusive of depreciation and amortization)
 
45,908

 
45,007

Selling, general and administrative expenses
 
125,281

 
112,114

Research and development expenses
 
6,254

 
6,888

Depreciation and amortization
 
132,368

 
118,978

Total costs and expenses
 
455,063

 
426,334

Operating income (loss)
 
10,603

 
28,048

Other income (expense):
 
 
 
 
Interest income, net
 
15,583

 
24,429

Interest expense, net of amounts capitalized
 
(36,233
)
 
(53,199
)
Gains (losses) on investments, net
 
(46,672
)
 
6,936

Equity in earnings (losses) of unconsolidated affiliates, net
 
2,613

 
(6,353
)
Foreign currency transaction gains (losses), net
 
(10,844
)
 
(1,160
)
Other, net
 
(279
)
 
(42
)
Total other income (expense), net
 
(75,832
)
 
(29,389
)
Income (loss) from continuing operations before income taxes
 
(65,229
)
 
(1,341
)
Income tax benefit (provision), net
 
7,492

 
(2,898
)
Net income (loss) from continuing operations
 
(57,737
)
 
(4,239
)
Net income (loss) from discontinued operations
 

 
19,247

Net income (loss)
 
(57,737
)
 
15,008

Less: Net loss (income) attributable to non-controlling interests
 
3,442

 
(806
)
Net income (loss) attributable to EchoStar Corporation common stock
 
$
(54,295
)
 
$
14,202

 
 
 
 
 
Earnings (losses) per share - Class A and B common stock:
 
 
 
 
Basic and diluted earnings (losses) from continuing operations per share
 
$
(0.56
)
 
$
(0.05
)
Total basic and diluted earnings (losses) per share
 
$
(0.56
)
 
$
0.15














The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

2



ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
(Unaudited)
 
 
For the three months
ended March 31,
 
 
2020
 
2019
Net income (loss)
 
$
(57,737
)
 
$
15,008

Other comprehensive income (loss), net of tax:
 
 

 
 

Foreign currency translation
 
(80,362
)
 
911

Unrealized gains (losses) on available-for-sale debt securities
 
(3,366
)
 
3,287

Other
 
(2,675
)
 
(2,800
)
Amounts reclassified to net income (loss):
 


 


Realized losses (gains) on available-for-sale debt securities
 

 
(549
)
Total other comprehensive income (loss), net of tax
 
(86,403
)
 
849

Comprehensive income (loss)
 
(144,140
)
 
15,857

Less: Comprehensive loss (income) attributable to non-controlling interests
 
19,765

 
(806
)
Comprehensive income (loss) attributable to EchoStar Corporation
 
$
(124,375
)
 
$
15,051






































The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

3



ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
FOR THE THREE MONTHS ENDED MARCH 31, 2020 AND 2019
(Amounts in thousands)
(Unaudited)
 
 
Common Stock
 
Additional
Paid-In
Capital
 
Accumulated
Other
Comprehensive Income (Loss)
 
Accumulated
Earnings (Losses)
 
Treasury
Stock, at cost
 
Non-controlling
Interests
 
Total
Balance, December 31, 2018
 
$
102

 
$
3,702,522

 
$
(125,100
)
 
$
694,129

 
$
(131,454
)
 
$
15,275

 
$
4,155,474

Issuances of Class A common stock:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Exercise of stock options
 

 
2,046

 

 

 

 

 
2,046

Employee benefits
 

 
6,654

 

 

 

 

 
6,654

Employee Stock Purchase Plan
 

 
2,749

 

 

 

 

 
2,749

Stock-based compensation
 

 
2,628

 

 

 

 

 
2,628

Purchase of non-controlling interest
 

 
(2,666
)
 

 

 

 
(4,647
)
 
(7,313
)
Other comprehensive income (loss)
 

 

 
849

 

 

 

 
849

Net income (loss)
 

 

 

 
14,202

 

 
806

 
15,008

Other, net
 

 
(156
)
 

 
1,597

 

 

 
1,441

Balance, March 31, 2019
 
$
102

 
$
3,713,777

 
$
(124,251
)
 
$
709,928

 
$
(131,454
)
 
$
11,434

 
$
4,179,536

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2019
 
$
105

 
$
3,290,483

 
$
(122,138
)
 
$
632,809

 
$
(131,454
)
 
$
75,748

 
$
3,745,553

Cumulative effect of accounting changes
 

 

 

 
(9,068
)
 

 
(240
)
 
(9,308
)
Balance, January 1, 2020
 
105

 
3,290,483

 
(122,138
)
 
623,741

 
(131,454
)
 
75,508

 
3,736,245

Issuances of Class A common stock:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercise of stock options
 

 
178

 

 

 

 

 
178

Employee benefits
 

 
6,920

 

 

 

 

 
6,920

Employee Stock Purchase Plan
 

 
2,924

 

 

 

 

 
2,924

Stock-based compensation
 

 
2,384

 

 

 

 

 
2,384

Issuance of equity and contribution of assets pursuant to the Yahsat JV formation
 

 
4,338

 

 

 

 
(1,514
)
 
2,824

Contribution by non-controlling interest holder
 

 

 

 

 

 
4,000

 
4,000

Other comprehensive income (loss)
 

 

 
(70,080
)
 

 

 
(16,323
)
 
(86,403
)
Net income (loss)
 

 

 

 
(54,295
)
 

 
(3,442
)
 
(57,737
)
Treasury share repurchase
 

 

 

 

 
(5,893
)
 

 
(5,893
)
Other, net
 

 
133

 

 

 

 

 
133

Balance, March 31, 2020
 
$
105

 
$
3,307,360

 
$
(192,218
)
 
$
569,446

 
$
(137,347
)
 
$
58,229

 
$
3,605,575

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

4



ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
 
 
For the three months
ended March 31,
 
 
2020
 
2019
Cash flows from operating activities:
 
 

 
 

Net income (loss)
 
$
(57,737
)
 
$
15,008

Adjustments to reconcile net income (loss) to net cash flows from operating activities:
 
 
 
 
Depreciation and amortization
 
132,368

 
154,221

Losses (gains) on investments, net
 
46,672

 
(6,418
)
Equity in losses (earnings) of unconsolidated affiliates, net
 
(2,613
)
 
6,353

Foreign currency transaction losses (gains), net
 
10,844

 
1,160

Deferred tax provision (benefit), net
 
(10,064
)
 
6,455

Stock-based compensation
 
2,384

 
2,628

Amortization of debt issuance costs
 
1,050

 
2,010

Other, net
 
(4,899
)
 
1,754

Changes in assets and liabilities, net:
 
 
 
 
Trade accounts receivable and contract assets, net
 
(7,664
)
 
(19,231
)
Other current assets, net
 
(16,127
)
 
(10,370
)
Trade accounts payable
 
(9,559
)
 
8,831

Contract liabilities
 
(3,212
)
 
17,896

Accrued expenses and other current liabilities
 
(4,922
)
 
(9,914
)
Non-current assets and non-current liabilities, net
 
(5,226
)
 
5,563

Net cash flows from operating activities
 
71,295

 
175,946

 
 
 
 
 
Cash flows from investing activities:
 
 

 
 

Purchases of marketable investment securities
 
(550,891
)
 
(325,557
)
Sales and maturities of marketable investment securities
 
687,579

 
712,666

Purchase of other investments
 
(5,500
)
 

Expenditures for property and equipment
 
(104,604
)
 
(111,962
)
Expenditures for externally marketed software
 
(8,638
)
 
(7,600
)
Net cash flows from investing activities
 
17,946

 
267,547

 
 
 
 
 
Cash flows from financing activities:
 
 

 
 

Repurchase of the 2019 Senior Secured Notes
 

 
(8,046
)
Payment of finance lease obligations
 
(215
)
 
(9,882
)
Payment of in-orbit incentive obligations
 
(801
)
 
(1,573
)
Net proceeds from Class A common stock options exercised
 
150

 
2,047

Net proceeds from Class A common stock issued under the Employee Stock Purchase Plan
 
2,924

 
2,749

Treasury share purchase
 
(5,893
)
 

Contribution by non-controlling interest holder
 
4,000

 

Purchase of non-controlling interest
 

 
(7,313
)
Other, net
 
817

 
(131
)
Net cash flows from financing activities
 
982

 
(22,149
)
 
 
 
 
 
Effect of exchange rates on cash and cash equivalents
 
(4,809
)
 
(133
)
Net increase (decrease) in cash and cash equivalents
 
85,414

 
421,211

Cash and cash equivalents, including restricted amounts, beginning of period
 
1,521,889

 
929,495

Cash and cash equivalents, including restricted amounts, end of period
 
$
1,607,303

 
$
1,350,706



The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

5



ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

NOTE 1.    ORGANIZATION AND BUSINESS ACTIVITIES

Principal Business
 
EchoStar Corporation (which, together with its subsidiaries, is referred to as “EchoStar,” the “Company,” “we,” “us” and “our”) is a holding company that was organized in October 2007 as a corporation under the laws of the State of Nevada and has operated as a separately traded public company from DISH Network Corporation (“DISH”) since 2008. Our Class A common stock is publicly traded on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “SATS.”

We are a global provider of broadband satellite technologies, broadband internet services for consumer customers, which include home and small to medium-sized businesses, and satellite services. We also deliver innovative network technologies, managed services and communications solutions for enterprise customers, which include aeronautical and government enterprises. We operate in the following two business segments:
 
Hughes — which provides broadband satellite technologies and broadband internet services to domestic and international consumer customers and broadband network technologies, managed services, equipment, hardware, satellite services and communication solutions to service providers and enterprise customers. The Hughes segment also designs, provides and installs gateway and terminal equipment to customers for other satellite systems. In addition, our Hughes segment designs, develops, constructs and provides telecommunication networks comprising satellite ground segment systems and terminals to mobile system operators and our enterprise customers.
ESS — which uses certain of our owned and leased in-orbit satellites and related licenses to provide satellite services on a full-time and/or occasional-use basis to U.S. government service providers, internet service providers, broadcast news organizations, content providers and private enterprise customers.
 
Our operations also include various corporate departments (primarily Executive, Treasury, Strategic Development, Human Resources, IT, Finance, Accounting, Real Estate and Legal) and other activities that have not been assigned to our business segments such as costs incurred in certain satellite development programs and other business development activities, and gains or losses from certain of our investments. These activities, costs and income, as well as eliminations of intersegment transactions, are accounted for in Corporate and Other. We also divide our operations by primary geographic market as follows: (i) North America (the U.S. and its territories, Mexico, and Canada); (ii) South and Central America and; (iii) All other (Asia, Africa, Australia, Europe, India, and the Middle East). Refer to Note 14. Segment Reporting for further detail.
   
In September 2019, pursuant to a master transaction agreement (the “Master Transaction Agreement”) with DISH and a wholly-owned subsidiary of DISH (“Merger Sub”), (i) we transferred certain real property and the various businesses, products, licenses, technology, revenues, billings, operating activities, assets and liabilities primarily related to the former portion of our ESS segment that managed, marketed and provided (1) broadcast satellite services primarily to DISH and its subsidiaries (together with DISH, “DISH Network”) and our joint venture Dish Mexico, S. de R.L. de C.V. (“Dish Mexico”) and its subsidiaries, and (2) telemetry, tracking and control (“TT&C”) services for satellites owned by DISH Network and a portion of our other businesses (collectively, the “BSS Business”) to one of our former subsidiaries, EchoStar BSS Corporation (“BSS Corp.”), (ii) we distributed to each holder of shares of our Class A or Class B common stock entitled to receive consideration in the transaction an amount of shares of common stock of BSS Corp., par value $0.001 per share (“BSS Common Stock”), equal to one share of BSS Common Stock for each share of our Class A or Class B common stock owned by such stockholder (the “Distribution”); and (iii) immediately after the Distribution, (1) Merger Sub merged with and into BSS Corp. (the “Merger”), such that BSS Corp. became a wholly-owned subsidiary of DISH and with DISH then owning and operating the BSS Business, and (2) each issued and outstanding share of BSS Common Stock owned by EchoStar stockholders was converted into the right to receive 0.23523769 shares of DISH Class A common stock, par value $0.001 per share (“DISH Common Stock”) ((i) - (iii) collectively, the “BSS Transaction”).

Following the consummation of the BSS Transaction, we no longer operate the BSS Business, which was a substantial portion of our ESS segment. As a result of the BSS Transaction, the financial results of the BSS Business, except for certain real estate that transferred in the transaction, are presented as discontinued operations and, as such, excluded

6

ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(Unaudited)

from continuing operations and segment results for the three months ended March 31, 2019, as presented in these unaudited Condensed Consolidated Financial Statements and the accompanying notes (collectively, the “Condensed Consolidated Financial Statements”).

All amounts in the following footnotes reference results from continuing operations unless otherwise noted. Refer to Note 4. Discontinued Operations for further detail.

NOTE 2.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation
 
These Condensed Consolidated Financial Statements are prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, they do not include all of the information and notes required for complete financial statements prepared in conformity with U.S. GAAP. In our opinion, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. However, our results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the full year.

All amounts presented in these Condensed Consolidated Financial Statements are expressed in thousands of U.S. dollars, except share and per share amounts and unless otherwise noted.

Refer to Note 2. Summary of Significant Accounting Policies to the consolidated financial statements in our Form 10-K for a summary and discussion of our significant accounting policies, except as updated below.

Use of Estimates

We are required to make certain estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements. The most significant estimates and assumptions are used in determining: (i) inputs used to recognize revenue over time, including amortization periods for deferred contract acquisition costs; (ii) allowances for doubtful accounts; (iii) deferred taxes and related valuation allowances, including uncertain tax positions; (iv) loss contingencies; (v) fair value of financial instruments; (vi) fair value of assets and liabilities acquired in business combinations; and (vii) asset impairment testing.

We base our estimates and assumptions on historical experience, observable market inputs and on various other factors that we believe to be relevant under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results may differ from previously estimated amounts and such differences may be material to our consolidated financial statements. Additionally, changing economic and other conditions may increase the inherent uncertainty in the estimates and assumptions indicated above. We review our estimates and assumptions periodically and the effects of revisions thereto are reflected in the period they occur or prospectively if the revised estimates or assumptions affect future periods.

Principles of Consolidation
 
We consolidate all entities in which we have a controlling financial interest. We are deemed to have a controlling financial interest in variable interest entities in which we are the primary beneficiary and in other entities in which we own more than 50% of the outstanding voting shares and other shareholders do not have substantive rights to participate in management. For entities we control but do not wholly own, we record a non-controlling interest within stockholders’ equity for the portion of the entity’s equity attributed to the non-controlling ownership interests. All significant intercompany balances and transactions have been eliminated in consolidation.
 
Reclassification

Certain prior period amounts have been reclassified to conform with the current period presentation.


7

ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(Unaudited)

Recently Adopted Accounting Pronouncements

Credit Losses

On January 1, 2020, we adopted Accounting Standards Update (“ASU”) No. 2016-13 - Financial Instruments - Credit Losses (Topic 326), as amended, and codified in Accounting Standards Codification Topic 326 (“ASC 326”). ASC 326 introduces a new approach to the periodic estimation of credit losses for certain financial assets based on expected losses instead of incurred losses. It also modifies the impairment model for available-for-sale debt securities and provides a simplified accounting model for purchased financial assets that have experienced credit deterioration since their original purchase. We have elected to apply the requirements of the new standard prospectively and we recognized a cumulative effect of adoption of $9.1 million to Accumulated earnings (losses) as of January 1, 2020. Based on this election, we did not restate our comparative Condensed Consolidated Financial Statements and they continue to be reported under the accounting standards in effect for the periods before January 1, 2020.

The following describes the accounting impacts, by major balance sheet line item, of our adoption of this new standard based on the relevant types of losses that we and our equity method investees may be subject to:

Trade Accounts Receivable and Contract Assets, Net Our trade accounts receivables and contract assets consist of amounts due from both our consumer and enterprise customers. Our receivables and related credit losses for our consumer customers are limited due to policies that require advance payment for services, predominant use of credit card and ACH payment processes, and our ability to promptly terminate service when timely payments are not received. However, for our enterprise customers, we estimate expected credit losses on a collective basis based on our historical loss experience, as adjusted to reflect changes in relevant factors, such as macroeconomic conditions and customer mix, that can significantly impact collectability.

We apply our collective estimation processes separately to several pools of receivables that share common risk characteristics, generally based on the customers’ geographical location. Customers with significant past-due balances or other atypical characteristics are excluded from our collective analysis and evaluated on a case-by-case basis. Our estimates of expected credit losses for such receivables reflect significant judgments that consider customer-specific matters such as the customer’s financial condition, payment history, and recent developments in the customer’s business and industry. Due to the short-term nature of our trade receivables and contract assets, forecasts about the future have limited relevance to our expected credit loss estimates.

We record our customer related estimated credit losses as a component of our bad debt expense as reported in Selling, general and administrative expenses.

Other Current Assets, Net, and Other Non-current Assets, Net We estimate expected credit losses for receivables with payment terms longer than one year separately by borrower, due to the unique risk characteristics of such receivables. We generally use discounted cash flow techniques to estimate such credit losses. In applying such techniques, we may estimate principal and interest cash flows under probability-weighted scenarios that consider entity-specific matters and forecasted economic conditions. The majority of our other non-current receivables are from entities in the telecommunications industry. The collection of contractual principal and interest on these receivables is highly dependent on the future business operations of those entities. Our estimation of expected credit losses for such receivables requires significant judgment about matters specific to the borrower and their industry. Accordingly, our actual collection experience may differ from the assumptions reflected in our expected credit loss estimates.

We record our estimated credit losses as a component of our bad debt expense as reported in Selling, general and administrative expenses.

Other Investments, Net — We estimate expected credit losses on our other debt investments with payment terms longer than one year separately by debtor, due to the unique risk characteristics of such debt investments. We generally use discounted cash flow techniques to estimate such credit losses. In applying such techniques, we may estimate principal and interest cash flows under probability-weighted scenarios that consider entity-specific matters and forecasted economic conditions. The majority of our other debt investments are with entities in the telecommunications industry. The collection of contractual principal and interest on these debt

8

ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(Unaudited)

investments are highly dependent on the future business operations of those entities. Our estimation of expected credit losses for such debt investments require significant judgment about matters specific to the debtor and their industry. Accordingly, our actual collection experience may differ from the assumptions reflected in our expected credit loss estimates.

We record our other debt investments related estimated credit losses as a reduction of Interest income, net.

Financial Impact of Adoption. Our adoption of this new standard resulted in the following adjustments to our Condensed Consolidated Balance Sheet:
 
 
Balance at December 31, 2019
 
Adoption of
ASC 326 Increase (Decrease)
 
Balance at
January 1, 2020
Trade accounts receivable and contract assets, net
 
$
196,629

 
$
(13,672
)
 
$
182,957

Other current assets, net
 
$
179,531

 
$
6,723

 
$
186,254

Other investments, net
 
$
325,405

 
$
(7,381
)
 
$
318,024

Other non-current assets, net
 
$
334,841

 
$
4,050

 
$
338,891

Total assets
 
$
7,154,298

 
$
(10,280
)
 
$
7,144,018

Deferred tax liabilities, net
 
$
351,692

 
$
(972
)
 
$
350,720

Accumulated earnings (losses)
 
$
632,809

 
$
(9,068
)
 
$
623,741

Non-controlling interests
 
$
75,748

 
$
(240
)
 
$
75,508

Total stockholders’ equity
 
$
3,745,553

 
$
(9,308
)
 
$
3,736,245

Total liabilities and stockholders’ equity
 
$
7,154,298

 
$
(10,280
)
 
$
7,144,018


The application of ASC 326 requirements did not materially affect our Condensed Consolidated Statements of Operations for the three months ended March 31, 2020.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 is part of the FASB’s overall simplification initiative and seeks to simplify the accounting for income taxes by updating certain guidance and removing certain exceptions. The updated guidance is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted. We are currently assessing the impact of adopting this new guidance.

In March 2020, the FASB issued ASU No. 2020-04 - Reference Rate Reform (Topic 848), codified as ASC 848 (“ASC 848”). The purpose of ASC 848 is to provide optional guidance to ease the potential effects on financial reporting of the market-wide migration away from Interbank Offered Rates (“IBORs”) to alternative reference rates. ASC 848 applies only to contracts, hedging relationships, and other transactions that reference a reference rate expected to be discontinued because of reference rate reform. The guidance may be applied upon issuance of ASC 848 through December 31, 2022. We are currently assessing the impact of adopting this new guidance, but do not expect it to have a material impact on our consolidated financial statements.


9

ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(Unaudited)

NOTE 3.     REVENUE RECOGNITION

Contract Balances

The following table presents the components of our contract balances:
 
 
As of
 
 
March 31, 2020
 
December 31, 2019
Trade accounts receivable and contract assets, net:
 
 
 
 
Sales and services
 
$
147,288

 
$
152,632

Leasing
 
4,301

 
4,016

Total trade accounts receivable
 
151,589

 
156,648

Contract assets
 
46,938

 
63,758

Allowance for doubtful accounts
 
(10,608
)
 
(23,777
)
Total trade accounts receivable and contract assets, net
 
$
187,919

 
$
196,629

 
 
 
 
 
Contract liabilities:
 
 
 
 
Current
 
$
99,266

 
$
101,060

Non-current
 
9,426

 
10,572

Total contract liabilities
 
$
108,692

 
$
111,632



For the three months ended March 31, 2020 and 2019, we recognized revenue of $52.2 million and $39.5 million, respectively, that were previously included in the contract liability balances as of December 31, 2019 and 2018, respectively.

The following table presents the activity in our allowance for doubtful accounts:
 
 
Balance at
Beginning
of Period
 
Credit Losses (1)
 
Deductions
 
Foreign Currency Translation
 
Balance at
End 
of Period
For the three months ended:
 
 

 
 

 
 

 
 
 
 

March 31, 2020
 
$
23,777

 
$
(5,754
)
 
$
(6,325
)
 
$
(1,090
)
 
$
10,608

March 31, 2019
 
$
16,604

 
$
4,177

 
$
(6,738
)
 
$
(15
)
 
$
14,028

(1) The impact of adopting ASC 326 on January 1, 2020 was a net decrease to our allowance for doubtful accounts largely driven by a $13.4 million reclassification to Other current assets, net and Other non-current assets, net, offset by a $2.9 million adjustment to Accumulated earnings (losses).  

Contract Acquisition Costs

The following table presents our unamortized contract acquisition costs:
 
 
As of
 
 
March 31, 2020
 
December 31, 2019
Unamortized contract acquisition costs
 
$
110,397

 
$
113,592



10

ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(Unaudited)

The following table presents the amortization of our contract acquisition costs:
 
 
For the three months
ended March 31,
 
 
2020
 
2019
Amortization expense
 
$
25,431

 
$
21,115



Transaction Price Allocated to Remaining Performance Obligations

As of March 31, 2020, the remaining performance obligations for our customer contracts with original expected durations of more than one year was $736.6 million. We expect to recognize 39.6% of our remaining performance obligations of these contracts as revenue in the next twelve months. This amount excludes agreements with consumer customers in our Hughes segment, our leasing arrangements and agreements with certain customers under which collectability of all amounts due through the term of contracts is uncertain.

Disaggregation of Revenue

Geographic Information

The following table presents our revenue from customer contracts disaggregated by primary geographic market and by segment:
 
 
Hughes
 
ESS
 
Corporate and Other
 
Consolidated
Total
For the three months ended March 31, 2020
 
 
 
 
 
 
 
 
North America
 
$
382,715

 
$
4,652

 
$
2,440

 
$
389,807

South and Central America
 
33,956

 

 
92

 
34,048

Other
 
41,811

 

 

 
41,811

Total revenue
 
$
458,482

 
$
4,652

 
$
2,532

 
$
465,666

 
 
 
 
 
 
 
 
 
For the three months ended March 31, 2019
 
 
 
 
 
 
 
 
North America
 
$
367,829

 
$
4,033

 
$
4,872

 
$
376,734

South and Central America
 
26,863

 

 
140

 
27,003

Other
 
50,645

 

 

 
50,645

Total revenue
 
$
445,337

 
$
4,033

 
$
5,012

 
$
454,382




11

ECHOSTAR CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(Unaudited)

Nature of Products and Services

The following table presents our revenue disaggregated by the nature of products and services and by segment:
 
 
Hughes
 
ESS
 
Corporate and Other
 
Consolidated
Total
For the three months ended March 31, 2020
 
 
 
 
 
 
 
 
Services and other revenue:
 
 
 
 
 
 
 
 
Services
 
$
390,000

 
$
2,765

 
$
1,288

 
$
394,053

Lease revenue
 
11,173

 
1,887

 
1,244

 
14,304

Total services and other revenue
<