0001558370-24-007171 | 10-Q | XBRL Viewer

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Allowance for credit losses on trade accounts receivable	$ 84,906	$ 74,390
Class A common stock
Current Assets:
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,600,000,000	1,600,000,000
Common stock, shares issued	140,170,052	140,153,020
Common stock, shares outstanding	140,170,052	140,153,020
Class B common stock
Current Assets:
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	131,348,468	131,348,468
Common stock, shares outstanding	131,348,468	131,348,468

Leases

3 Months Ended

Mar. 31, 2024

Leases

Leases

8.	Leases

Lessee Accounting

We enter into non-cancelable operating and finance leases for, among other things, communication towers, satellites, satellite-related ground infrastructure, data centers, office space, dark fiber and transport equipment, warehouses and distribution centers, vehicles and other equipment. Substantially all of our leases have remaining lease terms from one to 13 years, some of which include renewal options, and some of which include options to terminate the leases within one year. For certain arrangements (generally communication towers), the lease term includes the non-cancelable period plus the renewal period that we are reasonably certain to exercise.

Our Eutelsat 65 West A, Telesat T19V and EchoStar 105/SES-11 satellites are accounted for as finance leases within our Broadband and Satellite Services segment. Our Nimiq 5 satellite is accounted for as finance lease within our Pay-TV segment. Substantially all of our remaining leases are accounted for as operating leases, including our Anik F3 satellite lease.

The components of lease expense were as follows:


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Operating lease cost (1)	$	167,006	$	117,556

Short-term lease cost (2)		1,023		1,279

Finance lease cost:
Amortization of right-of-use assets		18,468		34,197
Interest on lease liabilities		2,792		3,570
Total finance lease cost		21,260		37,767
Total lease costs	$	189,289	$	156,602

(1)	The increase in operating lease cost is primarily related to communication tower leases.

(2)	Leases that have terms of 12 months or less.

Supplemental cash flow information related to leases was as follows:


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	118,408	$	73,613
Operating cash flows from finance leases	$	2,824	$	2,397
Financing cash flows from finance leases	$	15,134	$	8,713

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	199,300	$	231,868
Finance leases	$	—	$	51,110

Supplemental balance sheet information related to leases was as follows:


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Operating Leases:
Operating lease assets	$	3,092,070	$	3,065,448

Other current liabilities	$	341,257	$	317,395
Operating lease liabilities		3,157,720		3,121,307
Total operating lease liabilities	$	3,498,977	$	3,438,702

Finance Leases:
Property and equipment, gross	$	830,606	$	833,933
Accumulated depreciation		(538,300)		(520,344)
Property and equipment, net	$	292,306	$	313,589

Other current liabilities	$	48,391	$	56,459
Other long-term liabilities		60,133		67,199
Total finance lease liabilities	$	108,524	$	123,658

Weighted Average Remaining Lease Term:
Operating leases		10.0 years		10.6 years
Finance leases		2.1 years		2.2 years

Weighted Average Discount Rate:
Operating leases		9.9%		9.5%
Finance leases		9.6%		9.7%

Maturities of lease liabilities as of March 31, 2024 were as follows:


	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total

	(In thousands)
2024 (remaining nine months)	$	350,672	$	48,115	$	398,787
2025		499,361		35,392		534,753
2026		531,049		36,588		567,637
2027		531,138		2,574		533,712
2028		487,494		—		487,494
Thereafter		3,269,111		—		3,269,111
Total lease payments		5,668,825		122,669		5,791,494
Less: Imputed interest		(2,169,848)		(14,145)		(2,183,993)
Total		3,498,977		108,524		3,607,501
Less: Current portion		(341,257)		(48,391)		(389,648)
Long-term portion of lease obligations	$	3,157,720	$	60,133	$	3,217,853

Lessor Accounting

The following table presents our lease revenue by type of lease:


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Lease revenue:
Sales-type lease revenue	$	1,084	$	4,201
Operating lease revenue		5,654		11,187
Total lease revenue	$	6,738	$	15,388

Substantially all of our net investment in sales-type leases consisted of lease receivables totaling $28 million and $30 million as of March 31, 2024 and December 31, 2023, respectively.

The following table presents future operating lease payments to be received as of March 31, 2024:


For the Years Ending December 31,	Total
	(In thousands)
2024 (remaining nine months)	$	6,415
2025		4,953
2026		3,567
2027		3,488
2028		672
Thereafter		177
Total lease payments to be received	$	19,272

Commitments and Contingencies (Details) $ in Thousands				1 Months Ended	3 Months Ended		12 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Oct. 12, 2023 USD ($)	Sep. 29, 2023	Jun. 14, 2023	Dec. 31, 2027	Mar. 31, 2024 USD ($) item	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 14, 2025	Jul. 14, 2023	Sep. 20, 2022 USD ($)
Spectrum Investments
Litigation accrual												$ 3,900
Redeemable noncontrolling interests							$ 438,382
Percentage of population five G services offered										75.00%	75.00%
Percentage of Population Northstar Wireless and SNR Wireless offered				75.00%
Impairment of long-lived assets						$ 3,142
Regulatory Authorizations					$ 38,352,381
Interest rate (as a percent)					0.25%
Wireless
Spectrum Investments
Network development current and future expenditures					$ 10,000,000		$ 10,000,000	$ 10,000,000	$ 10,000,000
Regulatory Authorizations					29,591,671
DBS Licenses
Spectrum Investments
Regulatory Authorizations					677,409
700 MHz Licenses
Spectrum Investments
Regulatory Authorizations					711,871
AWS-4 Licenses
Spectrum Investments
Regulatory Authorizations					1,940,000
H Block Licenses
Spectrum Investments
Regulatory Authorizations					1,671,506
600 MHz Licenses
Spectrum Investments
Regulatory Authorizations					6,213,335
MVDDS
Spectrum Investments
Regulatory Authorizations					24,000
28 GHz Licenses
Spectrum Investments
Regulatory Authorizations					2,883
24 GHz Licenses
Spectrum Investments
Regulatory Authorizations					11,772
37 Ghz, 39 Ghz and 47 Ghz Licenses
Spectrum Investments
Regulatory Authorizations					202,533
3550-3650 MHz Licenses
Spectrum Investments
Regulatory Authorizations					912,939
3.7-3.98 GHz Licenses
Spectrum Investments
Regulatory Authorizations					2,969
3.45-3.55 GHz Licenses
Spectrum Investments
Regulatory Authorizations					7,329,093
1695-1710 MHz, 1755-1780 MHz, and 2155-2180 MHz
Spectrum Investments
Regulatory Authorizations					972
AWS-3 Licenses
Spectrum Investments
Regulatory Authorizations					9,890,389
Capitalized Interest
Spectrum Investments
Regulatory Authorizations					$ 9,000,000
Minimum \| MHz 700 Licenses and AWS-4 Licenses
Spectrum Investments
Minimum percentage of population having access to average download speed		70.00%	70.00%		70.00%
Minimum \| H Block Licenses
Spectrum Investments
Minimum percentage of population having access to average download speed			70.00%
Capitalized Interest.
Spectrum Investments
Regulatory Authorizations					$ 8,760,710
Northstar
Spectrum Investments
Purchase of ownership interests	$ 109,000
Northstar Wireless or Northstar Spectrum
Spectrum Investments
Re-Auction payment					1,892,000
Northstar Wireless or Northstar Spectrum \| AWS-3 Licenses
Spectrum Investments
Non-payment gross winning bids					$ 2,226,000
Interim payment percentage					15.00%
Overpayment of interim payment					$ 334,000
Northstar Wireless or Northstar Spectrum \| Northstar
Spectrum Investments
Number of wireless spectrum licenses \| item					261
SNR
Spectrum Investments
Non-payment gross winning bids					$ 1,211,000
Interim payment percentage					15.00%
Re-Auction payment					$ 1,029,000
Overpayment of interim payment					$ 182,000
SNR \| American III
Spectrum Investments
Number of wireless spectrum licenses \| item					244

Related Party Transactions

3 Months Ended

Mar. 31, 2024

Related Party Transactions

Related Party Transactions

13.Related Party Transactions

Hughes Systique Corporation (“Hughes Systique”)

We own 42% of Hughes Systique via preferred shares and contract with Hughes Systique for software development services. Prior to December 31, 2023, we consolidated Hughes Systique’s financial statements into our Condensed Consolidated Financial Statements. As of December 31, 2023, we have deconsolidated the Hughes Systique results from our Condensed Consolidated Financial Statements and recorded the investment as a cost method investment in “Other investments, net” on our Condensed Consolidated Balance Sheets.

The table below summarizes our transactions with Hughes Systique:


	For the Three Months Ended
	March 31, 2024
	(In thousands)
Purchases:
Purchases from Hughes Systique	$	4,596

	As of
	March 31, 2024		December 31, 2023

	(In thousands)
Amounts Payable:
Amounts payable to Hughes Systique	$	1,483	$	1,704

NagraStar L.L.C.

We own a 50% interest in NagraStar, a joint venture that is our primary provider of encryption and related security systems intended to assure that only authorized customers have access to our programming. Certain payments related to NagraStar are recorded in “Cost of services” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). In addition, certain other payments are initially included in “Inventory” and are subsequently capitalized as “Property and equipment, net” on our Condensed Consolidated Balance Sheets or expensed as “Selling, general and administrative expenses” or “Cost of services” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) when the equipment is deployed. We record all payables in “Trade accounts payable” or “Other accrued expenses” on our Condensed Consolidated Balance Sheets. Our investment in NagraStar is accounted for using the equity method.

The table below summarizes our transactions with NagraStar:


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Purchases (including fees):
Purchases from NagraStar	$	8,602	$	9,545

	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Amounts Payable and Commitments:
Amounts payable to NagraStar	$	6,452	$	9,821
Commitments to NagraStar	$	1,177	$	1,727

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Segment Reporting - Revenue, Operating Income and Purchases of Property and Equipment by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting
Total revenue	$ 4,014,843	$ 4,387,666
Operating income (loss)	(15,244)	353,338
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)	677,696	950,676
Operating segment \| Pay-TV
Segment Reporting
Total revenue	2,726,578	2,972,131
Operating income (loss)	670,108	675,233
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)	57,912	35,563
Operating segment \| Retail Wireless
Segment Reporting
Total revenue	905,850	974,866
Operating income (loss)	(74,417)	(18,207)
Operating segment \| 5G Network Deployment
Segment Reporting
Total revenue	29,504	18,907
Operating income (loss)	(570,751)	(333,603)
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)	549,173	871,042
Operating segment \| Broadband and Satellite Services
Segment Reporting
Total revenue	382,586	439,596
Operating income (loss)	(39,554)	27,705
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)	70,611	44,071
Operating segment \| All Other & Eliminations
Segment Reporting
Total revenue	(29,675)	(17,834)
Operating income (loss)	$ (630)	$ 2,210

Long-Term Debt and Finance Lease Obligations - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Mar. 31, 2024	Mar. 15, 2024	Dec. 31, 2023	Dec. 21, 2020	Aug. 08, 2016
Debt Instrument
Carrying Value		$ 21,745,055		$ 22,709,868
Fair Value		16,337,676		17,843,562
Unamortized deferred financing costs and other debt discounts, net		(66,115)		(69,606)
Finance lease obligations (2)		108,524		123,658
Total long-term debt and finance lease obligations (including current portion)		$ 21,787,464		22,763,920
Interest rate (as a percent)		0.25%
Outstanding debt	$ 1,983,000
2 3/8% Convertible Notes due 2024 \| DISH Network L.L.C.
Debt Instrument
Carrying Value				951,168
Fair Value				$ 944,034
Interest rate (as a percent)		2.375%	2.375%	2.375%
5 7/8% Senior Notes due 2024 \| DDBS
Debt Instrument
Carrying Value		$ 1,982,544		$ 1,982,544
Fair Value		$ 1,905,621		$ 1,872,275
Interest rate (as a percent)		5.875%		5.875%
0% Convertible Notes due 2025 \| DISH Network L.L.C.
Debt Instrument
Carrying Value		$ 1,957,197		$ 1,957,197
Fair Value		$ 1,418,968		1,228,141
Interest rate (as a percent)		0.00%
Aggregate principal amount					$ 2,000,000
7 3/4% Senior Notes due 2026 \| DDBS
Debt Instrument
Carrying Value		$ 2,000,000		2,000,000
Fair Value		$ 1,390,000		$ 1,388,060
Interest rate (as a percent)		7.75%		7.75%
5 1/4% Senior Secured Notes due 2026 \| DDBS
Debt Instrument
Carrying Value		$ 2,750,000		$ 2,750,000
Fair Value		$ 2,158,750		$ 2,366,073
Interest rate (as a percent)		5.25%		5.25%
5 1/4% Senior Secured Notes due 2026 \| HSSC
Debt Instrument
Carrying Value		$ 750,000		$ 750,000
Fair Value		$ 625,200		$ 665,678
Interest rate (as a percent)		5.25%		5.25%
6 5/8% Senior Notes due 2026 \| HSSC
Debt Instrument
Carrying Value		$ 750,000		$ 750,000
Fair Value		$ 445,875		$ 591,525
Interest rate (as a percent)		6.625%		6.625%
3 3/8% Convertible Notes due 2026 \| DISH Network L.L.C.
Debt Instrument
Carrying Value		$ 2,908,801		$ 2,908,801
Fair Value		$ 1,830,799		$ 1,570,753
Interest rate (as a percent)		3.375%		3.375%
Aggregate principal amount						$ 3,000,000
11 3/4% Senior Secured Notes due 2027 \| DISH Network L.L.C.
Debt Instrument
Carrying Value		$ 3,500,000		$ 3,500,000
Fair Value		$ 3,578,750		$ 3,668,980
Interest rate (as a percent)		11.75%		11.75%
7 3/8% Senior Notes due 2028 \| DDBS
Debt Instrument
Carrying Value		$ 1,000,000		$ 1,000,000
Fair Value		$ 489,200		$ 600,160
Interest rate (as a percent)		7.375%		7.375%
5 3/4% Senior Secured Notes due 2028 \| DDBS
Debt Instrument
Carrying Value		$ 2,500,000		$ 2,500,000
Fair Value		$ 1,718,750		$ 2,013,125
Interest rate (as a percent)		5.75%		5.75%
5 1/8 % Senior Notes due 2029 \| DDBS
Debt Instrument
Carrying Value		$ 1,500,000		$ 1,500,000
Fair Value		$ 629,250		774,600
Interest rate (as a percent)		5.125%
Other notes payable
Debt Instrument
Carrying Value		$ 146,513		160,158
Fair Value		$ 146,513		$ 160,158

Commitments and Contingencies - Part 2 (Details) $ in Millions		3 Months Ended	75 Months Ended
	Aug. 18, 2015 USD ($)	Mar. 31, 2024 USD ($) item	Mar. 31, 2024 USD ($)
Spectrum Investments
Payment to customer		$ 30,000
5G Network Development
Spectrum Investments
Payment to customer			$ 30,000
Northstar Spectrum And SNR Holdco \| AWS-3 Licenses
Commitments relating to AWS-3 Auction
Percentage of bidding credit		25.00%
Northstar Wireless or Northstar Spectrum \| SNR Licenses
Commitments relating to AWS-3 Auction
Percentage of bidding credit	25.00%
Bidding credit value	$ 1,961
SNR \| SNR Licenses
Commitments relating to AWS-3 Auction
Bidding credit value	$ 1,370
Prior Arrangement \| Northstar Wireless or Northstar Spectrum
Commitments relating to AWS-3 Auction
Number of licenses returned \| item		84
Prior Arrangement \| SNR \| SNR Licenses
Commitments relating to AWS-3 Auction
Number of licenses returned \| item		113

Revenue Recognition - Valuation and Qualifying Accounts (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Revenue Recognition
Balance at beginning of period	$ 74,390
Current period provision for expected credit losses	26,521
Write-offs charged against allowance	(15,979)
Acquisitions	0
Foreign currency translation	(26)
Balance at end of period	$ 84,906

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies

Summary of wireless spectrum licenses


		Carrying		Build-Out Deadlines		Expiration
		Amount		Interim	Final	Date

	(In thousands)
Owned:
DBS Licenses (1)		$	677,409
700 MHz Licenses (2)			711,871		June 14, 2025 (3)	June 2033
AWS-4 Licenses (2)			1,940,000		June 14, 2025 (3)	June 2033
H Block Licenses (2)			1,671,506		June 14, 2025 (4)	June 2033
600 MHz Licenses			6,213,335		June 14, 2025 (5)	June 2029
MVDDS Licenses (1)			24,000			July 2024
LMDS Licenses (1)			—			September 2028
28 GHz Licenses			2,883		October 2, 2029 (6)	October 2029
24 GHz Licenses			11,772		December 11, 2029 (6)	December 2029
37 GHz, 39 GHz and 47 GHz Licenses			202,533		June 4, 2030 (6)	June 2030
3550-3650 MHz Licenses			912,939		March 12, 2031 (6)	March 2031
3.7-3.98 GHz Licenses			2,969	July 23, 2029 (6)	July 23, 2033 (6)	July 2036
3.45–3.55 GHz Licenses			7,329,093	May 4, 2026 (6)	May 4, 2030 (6)	May 2037
1695-1710 MHz, 1755-1780 MHz, and 2155-2180 MHz (2)			972			March 2026
AWS-3			9,890,389		October 2025 (7)	October 2025 (7)
Subtotal			29,591,671

Capitalized Interest (8)			8,760,710
Total as of March 31, 2024		$	38,352,381

(1)	The build-out deadlines for these licenses have been met.

(2)	The interim build-out deadlines for these licenses are in the past.

(3)

For these licenses, we must offer 5G broadband service to at least 70% of the population in each Economic Area (which is a service area established by the FCC). On September 29, 2023, the FCC confirmed we have met all of our June 14, 2023 band-specific 5G deployment commitments, and two of our three nationwide 5G commitments. The single remaining 5G commitment, that at least 70% of the U.S. population has access to average download speeds equal to 35 Mbps, was achieved in March 2024 using the drive test methodology previously agreed upon by us and the FCC and overseen by an independent monitor.

(4)

For these licenses, we must offer 5G broadband service to at least 75% of the population in each Economic Area (which is a service area established by the FCC). On September 29, 2023, the FCC confirmed we have met all of our June 14, 2023 band-specific 5G deployment commitments, and two of our three nationwide 5G commitments. The single remaining 5G commitment, that at least 70% of the U.S. population has access to average download speeds equal to 35 Mbps, was achieved in March 2024 using the drive test methodology previously agreed upon by us and the FCC and overseen by an independent monitor.

(5)

For these licenses, we must offer 5G broadband service to at least 75% of the population in each Partial Economic Area (which is a service area established by the FCC) by this date. We have also acquired certain additional 600 MHz licenses through private transactions. These licenses are currently subject to their original FCC buildout deadlines.

(6)	There are a variety of build-out options and associated build-out metrics associated with these licenses.

(7)	For these licenses, we must provide reliable signal coverage and offer service to at least 75% of the population of each license area by this date.

(8)	See Note 2 for further information.

Commitments and Contingencies - Part 3 (Details) person in Millions								3 Months Ended		12 Months Ended
	Sep. 29, 2023 item	Sep. 29, 2023 person	Sep. 01, 2020	Sep. 23, 2016 USD ($)	Aug. 18, 2015 USD ($)	Jul. 17, 2015 USD ($)	Mar. 14, 2014 USD ($)	Mar. 31, 2024 USD ($) item	Mar. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)
Loss contingencies
Number of Americans Nationwide For Deploy FiveG Services	200,000,000	200
Impairment of long-lived assets									$ 3,142,000
Loss contingency terms
Loss Contingency, Damages Awarded, Value								$ 90,000,000
Loss Contingency, Damages Paid, Value										$ 52,000,000
Northstar Spectrum And SNR Holdco \| AWS-3 Licenses
Loss contingency terms
Percentage of bidding credit								25.00%
Northstar Wireless or Northstar Spectrum \| AWS-3 Licenses \| Vermont National Telephone Company
Loss contingency terms
Percentage of bidding credit				25.00%
Recovery amount				$ 10,000,000,000
Bidding credit value				3,300,000,000
Northstar Wireless or Northstar Spectrum \| AWS-3 Licenses \| Minimum \| Vermont National Telephone Company
Loss contingency terms
Claim amount				5,500
Northstar Wireless or Northstar Spectrum \| AWS-3 Licenses \| Maximum \| Vermont National Telephone Company
Loss contingency terms
Claim amount				$ 11,000
Northstar Wireless or Northstar Spectrum \| SNR Licenses
Loss contingency terms
Percentage of bidding credit					25.00%
Bidding credit value					$ 1,961,000,000
SNR \| SNR Licenses
Loss contingency terms
Bidding credit value					$ 1,370,000,000
DISH Network L.L.C.
Loss contingencies
Number of Americans Nationwide For Deploy FiveG Services \| person		250
Pending Litigation \| ClearPlay
Loss contingency terms
Claim amount							$ 469,000,000
Pending Litigation \| TQ Delta
Loss contingency terms
Claim amount						$ 251,000,000
Cyber-Security Class Actions
Loss contingency terms
Ten additional putative class action complaints \| item								10
License Fee Dispute
Loss contingencies
Payment schedule term (in years)			10 years

Basic and Diluted Net Income (Loss) Per Share (EPS Amounts for Basic and Diluted Weighted-Average Shares Outstanding) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 15, 2024	Dec. 31, 2023
Net income (loss)	$ (108,375)	$ 272,845
Less: Net income (loss) attributable to noncontrolling interests, net of tax	(999)	19,311
Net income (loss) attributable to EchoStar	(107,376)	253,534
Net income (loss) attributable to EchoStar - Diluted	$ (107,376)	$ 253,534
Weighted-average common shares outstanding - Class A and B common stock:
Basic (in shares)	271,519	269,833
Dilutive impact of Convertible Notes (in shares)		37,550
Dilutive impact of stock awards outstanding (in shares)		27
Diluted (in shares)	271,519	307,410
Earnings per share - Class A and B common stock:
Basic net income (loss) per share attributable to EchoStar (In dollar per share)	$ (0.40)	$ 0.94
Diluted net income (loss) per share attributable to EchoStar (in dollars per share)	$ (0.40)	$ 0.82
Interest rate (as a percent)	0.25%
Anti-dilutive securities excluded from computation of earnings per share	32,124,000	32,263,000
Class A common stock
Earnings per share - Class A and B common stock:
Anti-dilutive securities excluded from computation of earnings per share	33,000,000
DISH Network \| 2 3/8% Convertible Notes due 2024
Earnings per share - Class A and B common stock:
Interest rate (as a percent)	2.375%		2.375%	2.375%

Organization and Business Activities (Details) $ in Thousands, person in Millions						3 Months Ended
	Mar. 10, 2024 USD ($)	Sep. 29, 2023 item	Sep. 29, 2023 item	Sep. 29, 2023 item person	Jun. 14, 2023	Mar. 31, 2024 USD ($) item	Nov. 30, 2024 USD ($)
Spectrum Investments
Number of Pay-TV subscribers						8,178,000
Number Of wireless subscribers						7,297,000
Payment to customer \| $						$ 30,000,000
Regulatory Authorizations \| $						$ 38,352,381
Number of subscribers for broadband services						978,000
Number of nationwide 5G commitments that are met		2	2	2
Number of nationwide 5G commitments		3	3	3
Number of Americans nationwide for deployment of 5G services			200,000,000	200
cash and cash equivalents and marketable investment securities \| $						$ 766,000
Outstanding debt \| $							$ 1,983,000
Capitalized interest on FCC authorizations
Spectrum Investments
Regulatory Authorizations \| $						$ 9,000,000
Minimum \| MHz 700 Licenses and AWS-4 Licenses
Spectrum Investments
Minimum percentage of population having access to average download speed		70.00%			70.00%	70.00%
Sling TV Holding L.L.C.
Spectrum Investments
Number of Pay-TV subscribers						1,920,000
EchoStar Real Estate Holding L.L.C. \| CONX \| Real estate property in Littleton, Colorado,
Spectrum Investments
Purchase price of property \| $	$ 26,750
Sale leaseback transaction	10 years
DISH Network L.L.C.
Spectrum Investments
Number of Americans nationwide for deployment of 5G services \| person				250
Dish TV
Spectrum Investments
Number of Pay-TV subscribers						6,258,000

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments - Investments Measured at Fair Value On A Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair value of marketable securities
Debt securities	$ 39,000
Derivative's fair value		$ 0
Fair value measurements on recurring basis
Fair value of marketable securities
Cash Equivalents (including restricted)	356,899	1,692,849
Total	183,915	650,884
Fair value measurements on recurring basis \| U.S. Treasury and agency securities
Fair value of marketable securities
Total	17,910	65,172
Fair value measurements on recurring basis \| Commercial paper
Fair value of marketable securities
Total	6,100	290,398
Fair value measurements on recurring basis \| Corporate securities
Fair value of marketable securities
Total	15,032	114,265
Fair value measurements on recurring basis \| Other (including restricted)
Fair value of marketable securities
Total	454	4,844
Fair value measurements on recurring basis \| Equity securities
Fair value of marketable securities
Equity securities	144,419	176,205
Fair value measurements on recurring basis \| Level 1
Fair value of marketable securities
Cash Equivalents (including restricted)	125,445	573,504
Total	152,599	231,653
Fair value measurements on recurring basis \| Level 1 \| U.S. Treasury and agency securities
Fair value of marketable securities
Total	17,910	65,172
Fair value measurements on recurring basis \| Level 1 \| Equity securities
Fair value of marketable securities
Equity securities	134,689	166,481
Fair value measurements on recurring basis \| Level 2
Fair value of marketable securities
Cash Equivalents (including restricted)	231,454	1,119,345
Total	31,167	419,087
Fair value measurements on recurring basis \| Level 2 \| Commercial paper
Fair value of marketable securities
Total	6,100	290,398
Fair value measurements on recurring basis \| Level 2 \| Corporate securities
Fair value of marketable securities
Total	15,032	114,265
Fair value measurements on recurring basis \| Level 2 \| Other (including restricted)
Fair value of marketable securities
Total	305	4,700
Fair value measurements on recurring basis \| Level 2 \| Equity securities
Fair value of marketable securities
Equity securities	9,730	9,724
Fair value measurements on recurring basis \| Level 3
Fair value of marketable securities
Total	149	144
Fair value measurements on recurring basis \| Level 3 \| Other (including restricted)
Fair value of marketable securities
Total	$ 149	$ 144

Revenue Recognition

3 Months Ended

Mar. 31, 2024

Revenue Recognition

Revenue Recognition

12.Revenue Recognition

Contract Balances

Our valuation and qualifying accounts as of March 31, 2024 were as follows:


	For the Three Months Ended
	March 31,
	2024
	(In thousands)
Balance at beginning of period	$	74,390
Current period provision for expected credit losses		26,521
Write-offs charged against allowance		(15,979)
Acquisitions		—
Foreign currency translation		(26)
Balance at end of period	$	84,906

Contract assets arise when we recognize revenue for providing a service in advance of billing our customers. Our contract assets typically relate to our long-term contracts where we recognize revenue using the cost-based input method and the revenue recognized exceeds the amount billed to the customer.

Our contract assets also include receivables related to sales-type leases recognized over the lease term as the customer is billed. Contract assets are amortized as the customer is billed for services. Contract assets are recorded in “Trade accounts receivable, net” on our Condensed Consolidated Balance Sheets.

The following table summarizes our contract asset balances:


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Contract assets	$	72,300	$	66,103

Contract liabilities arise when we bill our customers and receive consideration in advance of providing the service. Contract liabilities are recognized as revenue when the service has been provided to the customer. Contract liabilities are recorded in “Deferred revenue and other” and “Long-term deferred revenue and other long-term liabilities” on our Condensed Consolidated Balance Sheets.

The following table summarizes our contract liability balances:


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Contract liabilities	$	664,212	$	710,456

Our beginning of period contract liability recorded as customer contract revenue during 2024 was $615 million.

Performance Obligations

Pay-TV and Retail Wireless Segments

We apply a practical expedient and do not disclose the value of the remaining performance obligations for contracts that are less than one year in duration, which represent a substantial majority of our revenue. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of our future revenue.

Broadband and Satellite Services Segment

As of March 31, 2024, the remaining performance obligations for our customer contracts was approximately $1.412 billion, compared to $1.740 billion as of December 31, 2023, a decrease of $328 million. This decrease resulted from the evaluation of the credit worthiness of the portfolio. Performance obligations expected to be satisfied within one year and greater than one year are 29% and 71%, respectively. This amount and percentages exclude leasing arrangements and agreements with consumer customers.

Contract Acquisition Costs

The following table presents the activity in our contract acquisition costs, net:


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Balance at beginning of period	$	352,114	$	460,876
Additions		65,104		95,659
Amortization expense		(94,266)		(112,883)
Foreign currency translation		(139)		452
Balance at end of period	$	322,813	$	444,104

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Revenue Recognition - Contract Asset and Contract Liability Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Contract Asset and Contract Liability Balances
Contract assets	$ 72,300	$ 66,103
Contract liabilities	664,212	$ 710,456
Customer Contract
Contract Asset and Contract Liability Balances
Contract liabilities	$ 615,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 4,014,843	$ 4,387,666
Costs and Expenses (exclusive of depreciation and amortization):
Cost of services	2,557,182	2,462,600
Cost of sales - equipment and other	363,083	520,060
Selling, general and administrative expenses	624,422	700,772
Depreciation and amortization	485,400	347,754
Impairment of long-lived assets and goodwill		3,142
Total costs and expenses	4,030,087	4,034,328
Operating income (loss)	(15,244)	353,338
Other Income (Expense):
Interest income, net	30,462	68,186
Interest expense, net of amounts capitalized (Note 2)	(99,408)	(20,033)
Other, net (Note 5)	(26,110)	(34,761)
Total other income (expense)	(95,056)	13,392
Income (loss) before income taxes	(110,300)	366,730
Income tax (provision) benefit, net	1,925	(93,885)
Net income (loss)	(108,375)	272,845
Less: Net income (loss) attributable to noncontrolling interests, net of tax	(999)	19,311
Net income (loss) attributable to EchoStar	$ (107,376)	$ 253,534
Weighted-average common shares outstanding - Class A and B common stock:
Basic (in shares)	271,519	269,833
Diluted (in shares)	271,519	307,410
Earnings per share - Class A and B common stock:
Basic net income (loss) per share attributable to EchoStar (In dollar per share)	$ (0.40)	$ 0.94
Diluted net income (loss) per share attributable to EchoStar (In dollar per share)	$ (0.40)	$ 0.82
Comprehensive Income (Loss):
Net income (loss)	$ (108,375)	$ 272,845
Other comprehensive income (loss):
Foreign currency translation adjustments	(5,591)	8,124
Unrealized holding gains (losses) on available-for-sale debt securities	1,452	(240)
Recognition of previously unrealized (gains) losses on available-for-sale securities included in net income (loss)	(1,528)	(1)
Deferred income tax (expense) benefit, net		(126)
Total other comprehensive income (loss), net of tax	(5,667)	7,757
Comprehensive income (loss)	(114,042)	280,602
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax	(2,118)	21,280
Comprehensive income (loss) attributable to EchoStar	(111,924)	259,322
Service and other revenue
Revenue:
Total revenue	3,819,673	4,180,721
Equipment sales and other revenue
Revenue:
Total revenue	$ 195,170	$ 206,945

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments - Other Income Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income (Expense)
Marketable and non-marketable investment securities - realized and unrealized gains (losses)	$ (23,893)	$ (7,417)
Derivative instruments - net realized and/or unrealized gains (losses)		(28,961)
Gains (losses) related to early redemption of debt		49
Foreign currency transaction gains (losses)	(627)	3,172
Equity in earnings (losses) of affiliates	(2,786)	(2,002)
Other	1,196	398
Total	$ (26,110)	$ (34,761)

Leases - Lease Income By Lease Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Sales-type lease revenue	$ 1,084	$ 4,201
Operating lease revenue	5,654	11,187
Total lease revenue	6,738	$ 15,388
Sales-type lease receivable	$ 28,000		$ 30,000
Equipment sales and other revenue
Sales-Type Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax
Service and other revenue
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax

Long-Term Debt and Finance Lease Obligations

3 Months Ended

Mar. 31, 2024

Long-Term Debt and Finance Lease Obligations

Long-Term Debt and Finance Lease Obligations

9.	Long-Term Debt and Finance Lease Obligations

Fair Value of our Long-Term Debt

The following table summarizes the carrying amount and fair value of our debt facilities as of March 31, 2024 and December 31, 2023:


		As of
		March 31, 2024				December 31, 2023
	Issuer	Carrying Amount		Fair Value		Carrying Amount		Fair Value

		(In thousands)
2 3/8% Convertible Notes due 2024 (1)	DISH	$	—	$	—	$	951,168	$	944,034
5 7/8% Senior Notes due 2024	DDBS		1,982,544		1,905,621		1,982,544		1,872,275
0% Convertible Notes due 2025	DISH		1,957,197		1,418,968		1,957,197		1,228,141
7 3/4% Senior Notes due 2026	DDBS		2,000,000		1,390,000		2,000,000		1,388,060
5 1/4% Senior Secured Notes due 2026	HSSC		750,000		625,200		750,000		665,678
6 5/8% Senior Notes due 2026	HSSC		750,000		445,875		750,000		591,525
3 3/8% Convertible Notes due 2026	DISH		2,908,801		1,830,799		2,908,801		1,570,753
5 1/4% Senior Secured Notes due 2026	DDBS		2,750,000		2,158,750		2,750,000		2,366,073
11 3/4% Senior Secured Notes due 2027	DISH		3,500,000		3,578,750		3,500,000		3,668,980
7 3/8% Senior Notes due 2028	DDBS		1,000,000		489,200		1,000,000		600,160
5 3/4% Senior Secured Notes due 2028	DDBS		2,500,000		1,718,750		2,500,000		2,013,125
5 1/8% Senior Notes due 2029	DDBS		1,500,000		629,250		1,500,000		774,600
Other notes payable			146,513		146,513		160,158		160,158
Subtotal			21,745,055	$	16,337,676		22,709,868	$	17,843,562
Unamortized deferred financing costs and other debt discounts, net			(66,115)				(69,606)
Finance lease obligations (2)			108,524				123,658
Total long-term debt and finance lease obligations (including current portion)		$	21,787,464			$	22,763,920

(1)	We repurchased or redeemed the principal balance of our 2 3/8% Convertible Notes due 2024 as of March 15, 2024, the instrument’s maturity date.

(2)	Disclosure regarding fair value of finance leases is not required.

We estimated the fair value of our publicly traded long-term debt using market prices in less active markets (Level 2).

Convertible Notes

0% Convertible Notes due 2025

On December 21, 2020, we issued $2.0 billion aggregate principal amount of the Convertible Notes due December 15, 2025 in a private placement. These notes will not bear interest, and the principal amount of the Notes will not accrete.

The Convertible Notes due 2025 are:

●

our general unsecured obligations;

●

ranked senior in right of payment to any future indebtedness that is expressly subordinated in right of payment to the Convertible Notes due 2025;

●

ranked equally in right of payment with all of our existing and future unsecured senior indebtedness;

●

ranked effectively junior to any of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness;

●

ranked structurally junior to all indebtedness and other liabilities of our subsidiaries; and

●

not guaranteed by our subsidiaries.

We may not redeem the Convertible Notes due 2025 prior to the maturity date. If a “fundamental change” (as defined in the related indenture) occurs prior to the maturity date of the Convertible Notes due 2025, holders may require us to repurchase for cash all or part of their Convertible Notes due 2025 at a repurchase price equal to 100% of the principal amount of such Convertible Notes due 2025, plus accrued and unpaid interest to, but not including, the fundamental change repurchase date.

The indenture related to the Convertible Notes due 2025 does not contain any financial covenants and does not restrict us from paying dividends, issuing or repurchasing our other securities, issuing new debt (including secured debt) or repaying or repurchasing our debt.

Subject to the terms of the related indenture, the Convertible Notes due 2025 may be converted at an initial conversion rate of 8.566 shares of our Class A common stock per $1,000 principal amount of the Convertible Notes due 2025 (equivalent to an initial conversion price of approximately $116.74 per share of our Class A common stock) (the “Initial Conversion Rate”), at any time on or after July 15, 2025 through the second scheduled trading day preceding the maturity date. Holders of the Convertible Notes due 2025 will also have the right to convert the Convertible Notes due 2025 at the Initial Conversion Rate prior to July 15, 2025, but only upon the occurrence of specified events described in the related indenture. The conversion rate is subject to anti-dilution adjustments if certain events occur. Upon any conversion, we will settle our conversion obligation in cash, shares of our Class A common stock or a combination of cash and shares of our Class A common stock, at our election.

3 3/8% Convertible Notes due 2026

On August 8, 2016, we issued $3.0 billion aggregate principal amount of the Convertible Notes due August 15, 2026 in a private offering. Interest accrues at an annual rate of 3 3/8% and is payable semi-annually in cash, in arrears on February 15 and August 15 of each year.

The Convertible Notes due 2026 are:

●

our general unsecured obligations;

●

ranked senior in right of payment to any future indebtedness that is expressly subordinated in right of payment to the Convertible Notes due 2026;

●

ranked equally in right of payment with all of our existing and future unsecured senior indebtedness;

●

ranked effectively junior to any of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness;

●

ranked structurally junior to all indebtedness and other liabilities of our subsidiaries; and

●

not guaranteed by our subsidiaries.

We may not redeem the Convertible Notes due 2026 prior to the maturity date. If a “fundamental change” (as defined in the related indenture) occurs prior to the maturity date of the Convertible Notes due 2026, holders may require us to repurchase for cash all or part of their Convertible Notes due 2026 at a specified make-whole price equal to 100% of the principal amount of such Convertible Notes due 2026, plus accrued and unpaid interest to, but not including, the fundamental change repurchase date.

The indenture related to the Convertible Notes due 2026 does not contain any financial covenants and does not restrict us from paying dividends, issuing or repurchasing our other securities, issuing new debt (including secured debt) or repaying or repurchasing our debt.

Subject to the terms of the related indenture, the Convertible Notes due 2026 may be converted at an initial conversion rate of 5.383 shares of our Class A common stock per $1,000 principal amount of Convertible Notes due 2026 (equivalent to an initial conversion price of approximately $185.76 per share of our Class A common stock) (the “Initial Conversion Rate”), at any time on or after March 15, 2026 through the second scheduled trading day preceding the maturity date. Holders of the Convertible Notes due 2026 will also have the right to convert the Convertible Notes due 2026 at the Initial Conversion Rate prior to March 15, 2026, but only upon the occurrence of specified events described in the related indenture. The conversion rate is subject to anti-dilution adjustments if certain events occur. Upon any conversion, we will settle our conversion obligation in cash, shares of our Class A common stock or a combination of cash and shares of our Class A common stock, at our election.

Convertible Note Hedge and Warrant Transactions

Merger with DISH Network. As defined and detailed in our Annual Report on Form 10-K for the year ended December 31, 2023, in connection with the completion of the Merger, on December 31, 2023, we and DISH Network entered into a note hedge amendment letter agreement with each option counterparty pursuant to which, at the Effective Time, DISH Network’s right to purchase shares of DISH Class A Common Stock pursuant to the terms of the applicable convertible note hedge transactions was changed into a right to purchase shares of EchoStar Class A Common Stock.

In addition, in connection with the completion of the Merger, on December 31, 2023, we and DISH Network entered into a warrant amendment letter agreement and warrant guarantee with each option counterparty, pursuant to which, at the Effective Time, each counterparty’s right to purchase shares of DISH Network Class A Common Stock pursuant to the applicable warrant transactions was changed into a right to purchase shares of EchoStar Class A Common Stock, and we guaranteed all of DISH Network’s obligations under the applicable warrant transactions.

In connection with the offering of the Convertible Notes due 2026, we entered into convertible note hedge transactions with certain option counterparties. The convertible note hedge transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes due 2026, the number of shares of DISH Network Class A Common Stock underlying the Convertible Notes due 2026, which initially gives us the option to purchase approximately 46 million shares of DISH Network Class A Common Stock at a price of approximately $65.18 per share, which in connection with the completion of the Merger converted into approximately 16 million shares of EchoStar Class A Common Stock at a price of approximately $185.76 per share. The total cost of the original convertible note hedge transactions was $635 million.

Concurrently with entering into the convertible note hedge transactions, we also entered into warrant transactions with each option counterparty whereby we sold to such option counterparty warrants to purchase, subject to customary anti-dilution adjustments, up to the same number of shares of DISH Network Class A common stock, which initially gives the option counterparties the option to purchase approximately 46 million shares of DISH Network Class A common stock at a price of approximately $86.08 per share, which in connection with the completion of the Merger converted into approximately 16 million shares of EchoStar Class A Common Stock at price ranges of approximately $185.75 to $245.33 per share. We received $376 million in cash proceeds from the original sale of these warrants. In accordance with accounting guidance on hedge and warrant transactions, the net cost incurred in connection with the convertible note hedge and warrant transactions are recorded as a reduction in “Additional paid-in capital” within “Stockholders’ Equity (Deficit)” on our Consolidated Balance Sheets as of December 31, 2016.

We will not be required to make any cash payments to each option counterparty or its affiliates upon the exercise of the options that are a part of the convertible note hedge transactions, but will be entitled to receive from them a number of shares of Class A common stock, an amount of cash or a combination thereof. This consideration is generally based on the amount by which the market price per share of Class A common stock, as measured under the terms of the convertible note hedge transactions, is greater than the strike price of the convertible note hedge transactions during the relevant valuation period under the convertible note hedge transactions. Additionally, if the market price per share of Class A common stock, as measured under the terms of the warrant transactions, exceeds the strike price of the warrants during the measurement period at the maturity of the warrants, we will owe each option counterparty a number of shares of Class A common stock in an amount based on the excess of such market price per share of Class A common stock over the strike price of the warrants. However, as specified under the terms of the warrant transactions, we may elect to settle the warrants in cash.

Intercompany Loan

The net proceeds from the offering of our 5 1/4% Senior Secured Notes due 2026 and our 5 3/4% Senior Secured Notes due 2028 (the “Senior Notes”) issued on November 26, 2021 were used by DISH DBS to make an intercompany loan to DISH Network pursuant to a Loan and Security Agreement dated November 26, 2021 (together with potential future advances to DISH Network, the “Intercompany Loan”) between DISH DBS and DISH Network in order to finance the purchase of wireless spectrum licenses and for general corporate purposes, including our 5G Network Deployment. The Intercompany Loan will mature in two tranches, with the first tranche maturing on December 1, 2026 (the “2026 Tranche”) and the second tranche maturing on December 1, 2028 (the “2028 Tranche”). DISH DBS may make additional advances to DISH Network under the Intercompany Loan, and on February 11, 2022, DISH DBS advanced an additional $1.5 billion to DISH Network under the Intercompany Loan 2026 Tranche. In January 2024, we completed a series of assignments resulting in the transfer of the receivable in respect to the 2026 Tranche from DISH DBS to EchoStar Intercompany Receivable Company L.L.C., our direct wholly-owned subsidiary, such that amounts owed in respect of the 2026 Tranche will now be paid by DISH Network to EchoStar Intercompany Receivable Company L.L.C.

Interest accrues and is payable semiannually, and interest payments with respect to the Intercompany Loan are, at our option, payable in kind for the first two years from the issuance date of November 2021. After two years post issuance date, a minimum of 50% of each interest payment due with respect to each tranche of the Intercompany Loan must be paid in cash. Thereafter, interest payments must be paid in cash. Interest will accrue: (a) when paid in cash, at a fixed rate of 0.25% per annum in excess of the interest rate applicable to, in the case of the 2026 Tranche, the 5 1/4% Senior Secured Notes due 2026, and in the case of the 2028 Tranche, the 5 3/4% Senior Secured Notes due 2028 (each, the “Cash Accrual Rate” with respect to the applicable tranche); and (b) when paid in kind, at a rate of 0.75% per annum in excess of the Cash Accrual Rate for the applicable tranche.

As of March 31, 2024, the total Intercompany Loan amount outstanding plus interest paid in kind was $7.496 billion. For the three months ended March 31, 2024, there were no interest payments for the Intercompany Loan paid in cash.

The Intercompany Loan is secured by Weminuche’s interest in the wireless spectrum licenses for the 3.45-3.55 GHz Licenses with such cash proceeds up to the total loan amount outstanding including interest paid in kind. Under certain circumstances, DISH Network wireless spectrum licenses (valued based upon a third-party valuation) may be substituted for the collateral. The Intercompany Loan is not included as collateral for the Senior Secured Notes, and the Senior Secured Notes are subordinated to DISH DBS’s existing and certain future unsecured notes with respect to certain realizations under the Intercompany Loan and any collateral pledged as security for the Intercompany Loan.

Supplemental Data - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Supplemental Data - Statements of Cash Flows
Cash paid for interest (including capitalized interest)	$ 230,581	$ 270,460
Cash received for interest	31,732	21,872
Cash paid for income taxes, net of (refunds)	(41,115)	502
Capitalized interest	258,367	337,094
Employee benefits paid in Class A common stock		5,421
Vendor financing		54,774
Accrued capital expenditures	164,693	511,453
Asset retirement obligation	$ 4,308	$ 31,554

Organization and Business Activities

3 Months Ended

Mar. 31, 2024

Organization and Business Activities

Organization and Business Activities

1.	Organization and Business Activities

Principal Business

EchoStar Corporation is a holding company that was organized in October 2007 as a corporation under the laws of the State of Nevada. Its subsidiaries (which together with EchoStar Corporation are referred to as “EchoStar,” the “Company,” “we,” “us” and/or “our,” unless otherwise required by the context) operate four primary business segments.

Recent Developments

Merger with DISH Network

On December 31, 2023, we completed the acquisition of DISH Network pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of October 2, 2023 (the “Amended Merger Agreement”), by and among us, EAV Corp., a Nevada corporation and our wholly owned subsidiary (“Merger Sub”), and DISH Network, pursuant to which we acquired DISH Network by means of the merger of Merger Sub with and into DISH Network (the “Merger”), with DISH Network surviving the Merger as our wholly owned subsidiary. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.

With the Merger complete, we are currently focused on the process of integrating our and DISH Network’s business in a manner that facilitates synergies, cost savings, growth opportunities and achieves other anticipated benefits (the “Integration”).

Future Capital Requirements

The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

Our cash and cash equivalents and marketable investment securities totaled $766 million as of March 31, 2024 (“Cash on Hand”). As reflected in the condensed consolidated financial statements as of March 31, 2024, we have $1.983 billion of debt maturing in November 2024, and we are forecasting negative cash flows for the remainder of the calendar year 2024.

Because we do not currently have committed financing to fund our operations for at least twelve months from the issuance of these condensed consolidated financial statements, substantial doubt exists about our ability to continue as a going concern. We do not currently have the necessary Cash on Hand and/or projected future cash flows to fund fourth quarter operations or the November 2024 debt maturity. To address our capital needs, we are in active discussions with funding sources to raise additional capital. We cannot provide assurances that we will be successful in obtaining such new financing necessary for us to have sufficient liquidity. Further, if we are not successful in these endeavors, then capital expenditures to meet future FCC build-out requirements and wireless customer growth initiatives will be adversely affected.

The condensed consolidated financial statements do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should we not continue as a going concern.

Segments

We currently operate four primary business segments: (1) Pay-TV; (2) Retail Wireless; (3) 5G Network Deployment; and (4) Broadband and Satellite Services.

Pay-TV

We offer pay-TV services under the DISH® brand and the SLING® brand (collectively “Pay-TV” services). The DISH branded pay-TV service consists of, among other things, Federal Communications Commission (“FCC”) licenses authorizing us to use direct broadcast satellite (“DBS”) and Fixed Satellite Service (“FSS”) spectrum, our owned and leased satellites, receiver systems, broadcast operations, a leased fiber optic network, in-home service and call center operations and certain other assets utilized in our operations (“DISH TV”). We also design, develop and distribute receiver systems and provide digital broadcast operations, including satellite uplinking/downlinking, transmission and other services to third-party pay-TV providers. The SLING branded pay-TV services consist of, among other things, multichannel, live-linear and on-demand streaming over-the-top (“OTT”) Internet-based domestic, international, Latino and Freestream video programming services (“SLING TV”). As of March 31, 2024, we had 8.178 million Pay-TV subscribers in the United States, including 6.258 million DISH TV subscribers and 1.920 million SLING TV subscribers.

Retail Wireless

We offer nationwide prepaid and postpaid retail wireless services to subscribers primarily under our Boost Mobile® and Gen Mobile® brands (“Retail Wireless” services), as well as a competitive portfolio of wireless devices. Prepaid wireless subscribers generally pay in advance for monthly access to wireless talk, text and data services. Postpaid wireless subscribers are qualified to pay after receiving wireless talk, text and data services, and may also qualify for device financing arrangements.

We are currently operating our Retail Wireless segment primarily as a mobile virtual network operator (“MVNO”) as we continue our 5G Network Deployment and commercialize and grow customer traffic on our 5G Network, as defined below. We are transitioning our Retail Wireless segment to a mobile network operator (“MNO”) as our 5G Network has become commercially available and we grow customer traffic on our 5G Network. We are currently activating Boost Mobile subscribers with compatible devices onto our 5G Network in markets where we have reached voice over new radio (“VoNR”). We currently provide 5G VoNR reaching approximately 200 million Americans. Within our MVNO operations, today we depend on T-Mobile and AT&T to provide us with network services under the amended Master Network Services Agreement (“MNSA”) and Network Services Agreement (the “NSA”), respectively. Under the NSA, we expect AT&T will become our primary network services provider. As of March 31, 2024, we had 7.297 million Wireless subscribers.

5G Network Deployment

We have invested a total of over $30 billion in Wireless spectrum licenses. The $30 billion of investments related to Wireless spectrum licenses does not include $9 billion of capitalized interest related to the carrying value of such licenses. See Note 2 and Note 10 for further information.

We will need to raise additional capital in the future, which may not be available on favorable terms, to fund the efforts described below, as well as, among other things, make any potential Northstar Re-Auction Payment and SNR Re-Auction Payment for the AWS-3 licenses retained by the FCC. There can be no assurance that we will be able to profitably deploy our Wireless spectrum licenses, which may affect the carrying amount of these assets and our future financial condition or results of operations. See Note 10 for further information.

Our Wireless spectrum licenses are subject to certain interim and final build-out requirements, as well as certain renewal requirements. We plan to commercialize our Wireless spectrum licenses through the completion of the nation’s first cloud-native, Open Radio Access Network (“O-RAN”) based 5G network (our “5G Network Deployment”). We have committed to deploy a facilities-based 5G broadband network (our “5G Network”) capable of serving increasingly larger portions of the U.S. population at different deadlines. On September 29, 2023, the FCC confirmed we have met all of our June 14, 2023 band-specific 5G deployment commitments, and two of our three nationwide 5G commitments. The single remaining 5G commitment, that at least 70% of the U.S. population has access to average download speeds equal to 35 Mbps, was achieved in March 2024 using the drive test methodology previously agreed upon by us and the FCC and overseen by an independent monitor. We now have the largest commercial deployment of 5G VoNR in the world reaching approximately 200 million Americans and 5G broadband service reaching approximately 250 million Americans.

We may need to make significant additional investments or partner with others to, among other things, continue our 5G Network Deployment and further commercialize, build-out and integrate these licenses and related assets and any additional acquired licenses and related assets, as well as to comply with regulations applicable to such licenses. Depending on the nature and scope of such activities, any such investments or partnerships could vary significantly. In addition, as we continue our 5G Network Deployment, we have and may continue to incur significant additional expenses related to, among other things, research and development, wireless testing and ongoing upgrades to the wireless network infrastructure, software and third-party integration. As a result of these investments, among other factors, we plan to raise additional capital, which may not be available on favorable terms. We may also determine that additional wireless spectrum licenses may be required for our 5G Network Deployment and to compete effectively with other wireless service providers. See Note 10 for further information.

Other Developments

On March 10, 2024, CONX Corp. (an entity partially owned by Charles W. Ergen, our Chairman) (“CONX”), a special purpose acquisition company, and EchoStar Real Estate Holding L.L.C. (“Seller”), our subsidiary, entered into a definitive purchase and sale agreement (the “Purchase Agreement”), which provides for CONX’s purchase from the Seller of the commercial real estate property in Littleton, Colorado, comprising the corporate headquarters of DISH Wireless, for a purchase price of $26.75 million. The transaction closed May 1, 2024, at which time we entered into an agreement to lease back the property from CONX for an initial 10 year term.

Broadband and Satellite Services

We offer broadband satellite technologies and broadband internet products and services to consumer customers. We provide broadband network technologies, managed services, equipment, hardware, satellite services and communications solutions to government and enterprise customers. We also design, provide and install gateway and terminal equipment to customers for other satellite systems. In addition, we design, develop, construct and provide telecommunication networks comprising satellite ground segment systems and terminals to mobile system operators and our enterprise customers. We also offer a robust suite of integrated, multi-transport solutions to enable airline and airline service providers to deliver reliable in-flight network connectivity serving both commercial and business aviation. As of March 31, 2024, we had 978,000 Broadband subscribers.

Our EchoStar XXIV satellite began service in December 2023, bringing additional broadband capacity across North and South America and is expected to be an integral part of our satellite service business. Revenue in our satellite services business depends largely on our ability to make continuous use of our available satellite capacity on behalf of existing customers and our ability to enter into commercial relationships with new customers.

Leases (Details)	3 Months Ended
Leases (Details)	Mar. 31, 2024
Option to extend - Operating	true
Option to extend - Finance	true
Option to terminate - Operating	true
Option to terminate - Finance	true
Minimum
Option to extend period - Operating	1 year
Maximum
Option to extend period - Operating	13 years
Option to extend period - Finance	13 years
Option to terminate period - Operating	1 year

Supplemental Data - Statements of Cash Flows (Tables)

3 Months Ended

Mar. 31, 2024

Supplemental Data - Statements of Cash Flows

Schedule of supplemental cash flow and other non-cash data


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Cash paid for interest (including capitalized interest)	$	230,581	$	270,460
Cash received for interest		31,732		21,872
Cash paid for income taxes, net of (refunds)		(41,115)		502
Capitalized interest (1)		258,367		337,094
Employee benefits paid in Class A common stock		—		5,421
Vendor financing		—		54,774
Accrued capital expenditures		164,693		511,453
Asset retirement obligation		4,308		31,554

(1)	See Note 2 for further information.

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2024

Revenue Recognition

Summary of valuation and qualifying accounts


	For the Three Months Ended
	March 31,
	2024
	(In thousands)
Balance at beginning of period	$	74,390
Current period provision for expected credit losses		26,521
Write-offs charged against allowance		(15,979)
Acquisitions		—
Foreign currency translation		(26)
Balance at end of period	$	84,906

Summary of contract asset and contract liability balances


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Contract assets	$	72,300	$	66,103


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Contract liabilities	$	664,212	$	710,456

Summary of activity in contract acquisition costs, net


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Balance at beginning of period	$	352,114	$	460,876
Additions		65,104		95,659
Amortization expense		(94,266)		(112,883)
Foreign currency translation		(139)		452
Balance at end of period	$	322,813	$	444,104

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2024

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these statements do not include all of the information and notes required for complete financial statements prepared under GAAP. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Our results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. Certain prior period amounts have been reclassified to conform to the current period presentation.

Merger with DISH Network. Prior to the Merger, Charles W. Ergen and Cantey M. Ergen were the controlling stockholders of each of EchoStar and DISH Network and they continue to be the controlling stockholders of EchoStar after the Merger. Therefore, the Merger has been accounted for as a transaction between entities under common control in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 805, Business Combinations, Subtopic 50, Related Issues, with EchoStar considered as the receiving entity because EchoStar issued equity in connection with the Merger. Accordingly, upon the completion of the Merger, on December 31, 2023, EchoStar recorded DISH Network’s net assets at their carrying value, with no additional goodwill or other intangible assets recognized.

Upon the completion of the Merger, the net assets of DISH Network have been combined with those of EchoStar at their historical carrying amounts and DISH Network and EchoStar are presented on a combined basis for all historical periods that the companies were under common control. As defined and detailed in our Annual Report on Form 10-K for the year ended December 31, 2023, shares of EchoStar Common Stock issued to holders of DISH Network Common Stock in exchange for the outstanding shares of DISH Network Common Stock were recorded at par value and historical weighted average basic and diluted shares of DISH Network have been adjusted by the Exchange Ratio and included in the weighted average shares outstanding on our condensed consolidated statements of operations. Intercompany transactions between EchoStar and DISH Network have been eliminated from all historical periods.

“Cost of services.” Historically, as we built-out our 5G Network, certain direct costs related to our 5G Network Deployment, including lease expense on communication towers, transport, cloud services and other costs, were presented within “Cost of sales – equipment and other” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) as our 5G Network service had not commenced. As we have commenced utilizing our 5G Network for commercial traffic, such amounts now represent costs of operating our 5G Network and are, beginning on January 1, 2024, presented within the “Cost of services” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The change has no impact on net income. For the three months ended March 31, 2023, the direct costs related to our 5G Network Deployment included within the “Cost of sales – equipment and other” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) were $183 million.

Principles of Consolidation

We consolidate all majority owned subsidiaries, investments in entities in which we have controlling influence and VIEs where we have been determined to be the primary beneficiary. Minority interests are recorded as noncontrolling interests or redeemable noncontrolling interests. See below for further information. Non-consolidated investments are accounted for using the equity method when we have the ability to significantly influence the operating decisions of the investee. When we do not have the ability to significantly influence the operating decisions of an investee, these equity securities are classified as either marketable investment securities or other investments, which will be initially recorded at cost, and based on observable market prices, will be adjusted to their fair value. We record fair value adjustments in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation.

Redeemable Noncontrolling Interests

Northstar Wireless. Northstar Wireless, L.L.C. (“Northstar Wireless”) is a wholly-owned subsidiary of Northstar Spectrum, LLC (“Northstar Spectrum”), which is an entity owned by us and, prior to October 12, 2023, by us and Northstar Manager, LLC (“NorthStar Manager”). On October 12, 2023, the FCC consented to the sale of Northstar Manager’s ownership interests in Northstar Spectrum, which we purchased for a total of approximately $109 million. This purchase resulted in the elimination of all of our redeemable noncontrolling interest as it related to Northstar Spectrum as of the purchase date and we continue to consolidate the Northstar Entities as wholly-owned subsidiaries.

SNR Wireless. SNR Wireless LicenseCo, LLC (“SNR Wireless”) is a wholly-owned subsidiary of SNR Wireless HoldCo, LLC (“SNR HoldCo”), which is an entity owned by us and, prior to February 16, 2024, by us and SNR Wireless Management, LLC (“SNR Management”). On February 16, 2024, the FCC consented to the sale of SNR Management’s ownership interests in SNR HoldCo, which was purchased by our direct wholly-owned subsidiary EchoStar SNR HoldCo L.L.C. for a total of approximately $442 million. This purchase resulted in the elimination of all of our redeemable noncontrolling interest as it related to SNR HoldCo as of the purchase date and we continue to consolidate the SNR Entities as wholly-owned subsidiaries.

For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense for each reporting period. Estimates are based on historical experience, observable market inputs, and other reasonable assumptions in accounting for, among other things, allowances for credit losses (including those related to our installment billing programs), self-insurance obligations, deferred taxes and related valuation allowances, uncertain tax positions, loss contingencies, fair value of financial instruments, fair value of options granted under our stock-based compensation plans, fair value of assets and liabilities acquired in business combinations, inputs used to recognize revenue over time, including the relative standalone selling prices of performance obligations, finance leases, asset impairments, estimates of future cash flows used to evaluate and recognize impairments, useful lives of property, equipment and intangible assets, incremental borrowing rate (“IBR”) on lease right of use assets, nonrefundable upfront fees, independent third-party retailer incentives, programming expenses and subscriber lives.

Economic conditions may increase the inherent uncertainty in the estimates and assumptions indicated above. Actual results may differ from previously estimated amounts, and such differences may be material to our condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected prospectively in the period they occur.

Capitalized Interest

We capitalize interest associated with the acquisition or construction of certain assets, including, among other things, our Wireless spectrum licenses, build-out costs associated with our 5G Network Deployment and satellites. Capitalization of interest begins when, among other things, steps are taken to prepare the asset for its intended use and ceases when the asset is ready for its intended use or when these activities are substantially suspended.

We are currently commercializing our 5G Network Deployment. As a result, the interest expense related to the carrying amount of the 5G Network Deployment qualifying assets is being capitalized. Historically, the qualifying assets exceeded the carrying value of our long-term debt and finance lease obligations, therefore substantially all of our interest expense was being capitalized. As the qualifying assets, including certain bands of wireless spectrum licenses, have been placed into service with the deployment of our 5G Network, we no longer capitalize substantially all interest on those assets and as a result, during the three months ended March 31, 2024, we incurred $88 million of “Interest expense, net of amounts capitalized” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), which would have previously been capitalized. We expect this trend to continue.

Fair Value Measurements

We determine fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Market or observable inputs are the preferred source of values, followed by unobservable inputs or assumptions based on hypothetical transactions in the absence of market inputs. We apply the following hierarchy in determining fair value:

●

Level 1, defined as observable inputs being quoted prices in active markets for identical assets;

●

Level 2, defined as observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets and liabilities in active markets; and quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and

●

Level 3, defined as unobservable inputs for which little or no market data exists, consistent with reasonably available assumptions made by other participants therefore requiring assumptions based on the best information available.

As of March 31, 2024 and December 31, 2023, the carrying amount for cash and cash equivalents, trade accounts receivable (net of allowance for credit losses) and current liabilities (excluding the “Current portion of long-term debt and finance lease obligations”) was equal to or approximated fair value due to their short-term nature or proximity to current market rates.

Fair values of our marketable investment securities are measured on a recurring basis based on a variety of observable market inputs. For our investments in publicly traded equity securities and U.S. government securities, fair value ordinarily is determined based on Level 1 measurements that reflect quoted prices for identical securities in active markets. Fair values of our investments in other marketable debt securities are generally based on Level 2 measurements as the markets for such debt securities are less active. We consider trades of identical debt securities on or near the measurement date as a strong indication of fair value and matrix pricing techniques that consider par value, coupon rate, credit quality, maturity and other relevant features may also be used to determine fair value of our investments in marketable debt securities. Additionally, we use fair value measurements from time to time in connection with other investments, asset impairment testing and the assignment of purchase consideration to assets and liabilities of acquired companies. Those fair value measurements typically include significant unobservable inputs and are categorized within Level 3 of the fair value hierarchy. Transfers between levels in the fair value hierarchy are considered to occur at the beginning of the quarterly accounting period. There were no transfers between levels during the three months ended March 31, 2024 and 2023. See Note 5 for the fair value of our marketable investment securities and derivative instruments.

Fair values for our publicly traded debt securities are based on quoted market prices, when available. The fair values of private debt are based on, among other things, available trade information, and/or an analysis in which we evaluate market conditions, related securities, various public and private offerings, and other publicly available information. In performing this analysis, we make various assumptions regarding, among other things, credit spreads, and the impact of these factors on the value of the debt securities. See Note 9 for the fair value of our long-term debt.

Assets Recognized Related to the Costs to Obtain a Contract with a Customer

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that certain sales incentive programs in our Pay-TV, Broadband and Satellite Services, and Retail Wireless segments, including those with our independent third-party retailers, meet the requirements to be capitalized, and payments made under these programs are capitalized and amortized to expense over the estimated customer life or the contract term. These amounts are capitalized in “Prepaids and other assets” and “Other noncurrent assets, net” on our Condensed Consolidated Balance Sheets, and then amortized in “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Advertising Costs

We recognize advertising expense when incurred as a component of “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Advertising expenses totaled $164 million and $173 million for the three months ended March 31, 2024 and 2023, respectively.

Research and Development

Research and development costs, not incurred in connection with customer requirements, are expensed as incurred and are included as a component of “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Additionally, customer-related research and development costs are incurred in connection with the specific requirements of a customer’s order; in such instances, the amounts for these customer funded development efforts are also included in “Cost of sales–equipment and other” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Research and development costs totaled $25 million and $28 million for the three months ended March 31, 2024 and 2023, respectively.

New Accounting Pronouncements

Joint Ventures. On August 23, 2023, the FASB issued ASU 2023-05, Business Combinations — Joint Venture Formations (Subtopic 805-60) (“ASU 2023-05”), which requires an entity that qualifies as either a joint venture or a corporate joint venture as defined in the FASB Accounting Standards Codification (ASC) master glossary to apply a new basis of accounting upon the formation of the joint venture. This standard will be effective for all joint venture formations with a formation date on or after January 1, 2025. A joint venture that was formed before January 1, 2025 may elect to apply the amendments retrospectively if it has sufficient information. Early adoption is permitted in any interim or annual period in which financial statements have not yet been issued or made available for issuance. We are evaluating the impact the adoption of ASU 2023-05 will have on our Condensed Consolidated Financial Statements and related disclosures.

Segment Reporting. On November 27, 2023, the FASB issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reporting Segment Disclosures (“ASU 2023-07”), which will enhance financial reporting by providing additional information about a public company’s significant segment expenses and more timely and detailed segment information reporting throughout the fiscal period. This standard will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are evaluating the impact the adoption of ASU 2023-07 will have on our Condensed Consolidated Financial Statements and related disclosures.

Income Taxes. On December 14, 2023, the FASB issued ASU 2023-9, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures (“ASU 2023-09”), which will enhance income tax disclosures. ASU 2023-09 requires among other items disaggregated information in a reporting entity’s rate reconciliation table, clarification on uncertain tax positions and the related financial statement impact as well as information on income taxes paid on a disaggregated basis. This standard will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are evaluating the impact the adoption of ASU 2023-09 will have on our Condensed Consolidated Financial Statements and related disclosures.

Basic and Diluted Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Basic and Diluted Net Income (Loss) Per Share

Basic and Diluted Net Income (Loss) Per Share

3.	Basic and Diluted Net Income (Loss) Per Share

We present both basic earnings per share (“EPS”) and diluted EPS. Basic EPS excludes potential dilution and is computed by dividing “Net income (loss) attributable to EchoStar” by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock awards were exercised and if our Convertible Notes were converted. The potential dilution from stock awards is accounted for using the treasury stock method based on the average market value of our Class A common stock for the reporting period. The potential dilution from conversion of the Convertible Notes is accounted for using the if-converted method, which requires that all of the shares of our Class A common stock issuable upon conversion of the Convertible Notes will be included in the calculation of diluted EPS assuming conversion of the Convertible Notes at the beginning of the reporting period (or at time of issuance, if later).

The following table presents EPS amounts for all periods and the basic and diluted weighted-average shares outstanding used in the calculation.


		For the Three Months Ended
		March 31,
		2024		2023

	(In thousands, except per share amounts)
Net income (loss)		$	(108,375)	$	272,845
Less: Net income (loss) attributable to noncontrolling interests, net of tax			(999)		19,311
Net income (loss) attributable to EchoStar - Basic			(107,376)		253,534
Interest on dilutive Convertible Notes, net of tax (1)			—		—
Net income (loss) attributable to EchoStar - Diluted		$	(107,376)	$	253,534

Weighted-average common shares outstanding - Class A and B common stock:
Basic			271,519		269,833
Dilutive impact of Convertible Notes (2)(3)			—		37,550
Dilutive impact of stock awards outstanding (3)			—		27
Diluted			271,519		307,410

Earnings per share - Class A and B common stock:
Basic net income (loss) per share attributable to EchoStar		$	(0.40)	$	0.94
Diluted net income (loss) per share attributable to EchoStar		$	(0.40)	$	0.82

(1)	For the three months ended March 31, 2023, substantially all of our interest expense was capitalized. See Note 2 for further information.

(2)	We repurchased or redeemed the principal balance of our 2 3/8% Convertible Notes due 2024 as of March 15, 2024, the instrument’s maturity date.

(3)

For the three months ended March 31, 2024, the dilutive impact of 33 million weighted-average shares of Class A common stock were excluded from the computation of “Diluted net income (loss) per share attributable to EchoStar” because the effect would have been anti-dilutive as a result of the net loss attributable to EchoStar in the period.

Certain stock awards to acquire our Class A common stock are not included in the weighted-average common shares outstanding above, as their effect is anti-dilutive. In addition, vesting of performance/market based options and rights to acquire shares of our Class A common stock granted pursuant to our performance based stock incentive plans (“Restricted Performance Units”) are both contingent upon meeting certain goals, some of which are not yet probable of being achieved. Furthermore, the warrants that we issued to certain option counterparties in connection with the Convertible Notes due 2026 are only exercisable at their expiration if the market price per share of our Class A common stock is greater than the strike price of the warrants, which is at price ranges of approximately $185.75 to $245.33 per share, subject to certain adjustments. As a consequence, the following are not included in the diluted EPS calculation.


	As of March 31,
	2024	2023

	(In thousands)
Anti-dilutive stock awards	11,417	10,849
Performance/market based options	4,556	5,020
Restricted Performance Units/Awards	—	243
Common stock warrants	16,151	16,151
Total	32,124	32,263

Exchange Offer

On March 4, 2024, we commenced a tender offer to eligible employees (which excludes our co-founders and the non-executive/non-employee members of our Board of Directors) to exchange eligible stock options (which excludes the Ergen 2020 Performance Award) for new options as detailed in our Schedule TO filed March 4, 2024 with the Securities and Exchange Commission (the “Exchange Offer”), to, among other things, further align employee incentives with the current market. The Exchange Offer expired on April 1, 2024 and we accepted for exchange approximately 7 million stock options. As a result of the Exchange Offer, subsequent to March 31, 2024, the exercise price of approximately 6 million new stock options, affecting approximately 1,000 eligible employees, was adjusted to $14.04. The total incremental non-cash stock-based compensation expense resulting from the Exchange Offer is $15 million, which will be recognized over the remaining vesting period of the applicable options.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies

Commitments and Contingencies

10.Commitments and Contingencies

Commitments

5G Network Deployment

Wireless Spectrum Licenses

Our Wireless spectrum licenses are subject to certain build-out requirements, as well as certain renewal requirements that are summarized in the table below:


		Carrying		Build-Out Deadlines		Expiration
		Amount		Interim	Final	Date

	(In thousands)
Owned:
DBS Licenses (1)		$	677,409
700 MHz Licenses (2)			711,871		June 14, 2025 (3)	June 2033
AWS-4 Licenses (2)			1,940,000		June 14, 2025 (3)	June 2033
H Block Licenses (2)			1,671,506		June 14, 2025 (4)	June 2033
600 MHz Licenses			6,213,335		June 14, 2025 (5)	June 2029
MVDDS Licenses (1)			24,000			July 2024
LMDS Licenses (1)			—			September 2028
28 GHz Licenses			2,883		October 2, 2029 (6)	October 2029
24 GHz Licenses			11,772		December 11, 2029 (6)	December 2029
37 GHz, 39 GHz and 47 GHz Licenses			202,533		June 4, 2030 (6)	June 2030
3550-3650 MHz Licenses			912,939		March 12, 2031 (6)	March 2031
3.7-3.98 GHz Licenses			2,969	July 23, 2029 (6)	July 23, 2033 (6)	July 2036
3.45–3.55 GHz Licenses			7,329,093	May 4, 2026 (6)	May 4, 2030 (6)	May 2037
1695-1710 MHz, 1755-1780 MHz, and 2155-2180 MHz (2)			972			March 2026
AWS-3			9,890,389		October 2025 (7)	October 2025 (7)
Subtotal			29,591,671

Capitalized Interest (8)			8,760,710
Total as of March 31, 2024		$	38,352,381

(1)	The build-out deadlines for these licenses have been met.

(2)	The interim build-out deadlines for these licenses are in the past.

(3)

(4)

(5)

(6)	There are a variety of build-out options and associated build-out metrics associated with these licenses.

(7)	For these licenses, we must provide reliable signal coverage and offer service to at least 75% of the population of each license area by this date.

(8)	See Note 2 for further information.

Commercialization of Our Wireless Spectrum Licenses and Related Assets. We plan to commercialize our Wireless spectrum licenses through our 5G Network Deployment. We have committed to deploy our 5G Network capable of serving increasingly larger portions of the U.S. population at different deadlines. On September 29, 2023, the FCC confirmed we have met all of our June 14, 2023 band-specific 5G deployment commitments, and two of our three nationwide 5G commitments. The single remaining 5G commitment, that at least 70% of the U.S. population has access to average download speeds equal to 35 Mbps, was achieved in March 2024 using the drive test methodology previously agreed upon by us and the FCC and overseen by an independent monitor. We now have the largest commercial deployment of 5G VoNR in the world reaching approximately 200 million Americans and 5G broadband service reaching approximately 250 million Americans. We currently expect capital expenditures, excluding capitalized interest, for our 5G Network Deployment to be approximately $10 billion, including amounts incurred in 2021, 2022, 2023 and the first three months of 2024. See Note 2 for further information.

AWS-3 Auction

Northstar Wireless is a wholly-owned subsidiary of Northstar Spectrum, which is an entity owned by us and, prior to October 12, 2023, by us and Northstar Manager. SNR Wireless is a wholly-owned subsidiary of SNR HoldCo, which is an entity owned by us and, prior to February 16, 2024, by us and SNR Management. See Note 2 for further information.

Northstar Wireless and SNR Wireless each filed applications with the FCC to participate in Auction 97 (the “AWS-3 Auction”) for the purpose of acquiring certain AWS-3 Licenses. Each of Northstar Wireless and SNR Wireless applied to receive bidding credits of 25% as designated entities under applicable FCC rules.

FCC Order and October 2015 Arrangements. On August 18, 2015, the FCC released a Memorandum Opinion and Order, FCC 15-104 (the “Order”) in which the FCC determined, among other things, that DISH Network has a controlling interest in, and is an affiliate of, Northstar Wireless and SNR Wireless, and therefore DISH Network’s revenues should be attributed to them, which in turn makes Northstar Wireless and SNR Wireless ineligible to receive the 25% bidding credits (approximately $1.961 billion for Northstar Wireless and $1.370 billion for SNR Wireless). On November 23, 2020, the FCC released a Memorandum Opinion and Order on Remand, FCC 20-160, that found that Northstar Wireless and SNR Wireless are not eligible for bidding credits based on the FCC’s determination that they remain under DISH Network’s de facto control. Northstar Wireless and SNR Wireless have appealed the FCC’s order to the D.C. Circuit Court of Appeals. On June 21, 2022, the United States Court of Appeals for the District of Columbia issued an Opinion rejecting this challenge. On January 17, 2023, Northstar Wireless filed a petition for a writ of certiorari asking the United States Supreme Court to hear a further appeal, but that petition was denied on June 30, 2023.

Letters Exchanged between Northstar Wireless and the FCC Wireless Bureau. As outlined in letters exchanged between Northstar Wireless and the Wireless Telecommunications Bureau of the FCC (the “FCC Wireless Bureau”), Northstar Wireless paid the gross winning bid amounts for 261 AWS-3 Licenses (the “Northstar Licenses”) and notified the FCC that it would not be paying the gross winning bid amounts for 84 AWS-3 Licenses. As a result of the nonpayment of those gross winning bid amounts, the FCC retained those licenses.

If the winning bids from re-auction or other award of the AWS-3 licenses retained by the FCC are greater than or equal to the winning bids of Northstar Wireless, no additional amounts will be owed to the FCC by Northstar Wireless. However, if those winning bids are less than the winning bids of Northstar Wireless, then we will be responsible for the difference less any overpayment of the Northstar interim payment, detailed below, (which will be recalculated as 15% of the winning bids from re-auction or other award) (the “Northstar Re-Auction Payment”). For example, if the winning bids in a re-auction are $1, the Northstar Re-Auction Payment would be approximately $1.892 billion, which is calculated as the difference between $2.226 billion (the Northstar winning bid amounts) and $1 (the winning bids from re-auction) less the resulting $334 million overpayment of the Northstar interim payment. We cannot predict with any degree of certainty the timing or outcome of any re-auction or the amount of any Northstar Re-Auction Payment.

Letters Exchanged between SNR Wireless and the FCC Wireless Bureau. As outlined in letters exchanged between SNR Wireless and the FCC Wireless Bureau, SNR Wireless paid the gross winning bid amounts for 244 AWS-3 Licenses and notified the FCC that it would not be paying the gross winning bid amounts for 113 AWS-3 Licenses. As a result of the nonpayment of those gross winning bid amounts, the FCC retained those licenses. If the winning bids from re-auction or other award of the AWS-3 licenses retained by the FCC are greater than or equal to the winning bids of SNR Wireless, no additional amounts will be owed to the FCC by SNR Wireless. However, if those winning bids are less than the winning bids of SNR Wireless, then we will be responsible for the difference less any overpayment of the SNR interim payment, detailed below, (which will be recalculated as 15% of the winning bids from re-auction or other award) (the “SNR Re-Auction Payment”). For example, if the winning bids in a re-auction are $1, the SNR Re-Auction Payment would be approximately $1.029 billion, which is calculated as the difference between $1.211 billion (the SNR winning bid amounts) and $1 (the winning bids from re-auction) less the resulting $182 million overpayment of the SNR interim payment. We cannot predict with any degree of certainty the timing or outcome of any re-auction or the amount of any SNR Re-Auction Payment.

D.C. Circuit Court Opinion. On August 29, 2017, the United States Court of Appeals for the District of Columbia Circuit (the “D.C. Circuit”) in SNR Wireless LicenseCo, LLC, et al. v. Federal Communications Commission, 868 F.3d 1021 (D.C. Cir. 2017) (the “Appellate Decision”) affirmed the Order in part, and remanded the matter to the FCC to give Northstar Wireless and SNR Wireless an opportunity to seek to negotiate a cure of the issues identified by the FCC in the Order (a “Cure”). On January 26, 2018, SNR Wireless and Northstar Wireless filed a petition for a writ of certiorari, asking the United States Supreme Court to hear an appeal from the Appellate Decision, which the United States Supreme Court denied on June 25, 2018.

Order on Remand. On January 24, 2018, the FCC released an Order on Remand, DA 18-70 (the “Order on Remand”) purporting to establish a procedure to afford Northstar Wireless and SNR Wireless the opportunity to implement a Cure pursuant to the Appellate Decision. On June 8, 2018, Northstar Wireless and SNR Wireless each filed amended agreements to demonstrate that, in light of such changes, each of Northstar Wireless and SNR Wireless qualified for the very small business bidding credit that it sought in the AWS-3 Auction. Northstar Wireless and SNR Wireless filed a Joint Application for Review of the Order on Remand requesting, among other things, an iterative negotiation process with the FCC regarding a Cure, which was denied on July 12, 2018. The pleading cycle established in the Order on Remand concluded in October 2018. On November 23, 2020, the FCC issued a Memorandum Opinion and Order that concluded, among other things, that DISH Network retained de facto control over Northstar Wireless and SNR Wireless and denied the very small business bidding credit sought by Northstar Wireless and SNR Wireless, even though the parties had eliminated or significantly modified every provision previously deemed to have been disqualifying by the FCC. Northstar Wireless and SNR Wireless timely filed an appeal of the FCC’s 2020 decision. On June 21, 2022, the United States Court of Appeals for the District of Columbia issued an Opinion rejecting this challenge. On January 17, 2023, Northstar Wireless filed a petition for a writ of certiorari asking the United States Supreme Court to hear a further appeal, but that petition was denied on June 30, 2023.

For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.

Contingencies

Litigation

We are involved in a number of legal proceedings (including those described below) concerning matters arising in connection with the conduct of our business activities. Many of these proceedings are at preliminary stages, and many of these proceedings seek an indeterminate amount of damages. We regularly evaluate the status of the legal proceedings in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss or an additional loss may have been incurred and to determine if accruals are appropriate. If accruals are not appropriate, we further evaluate each legal proceeding to assess whether an estimate of the possible loss or range of possible loss can be made.

For certain cases described on the following pages, management is unable to provide a meaningful estimate of the possible loss or range of possible loss because, among other reasons, (i) the proceedings are in various stages; (ii) damages have not been sought; (iii) damages are unsupported and/or exaggerated; (iv) there is uncertainty as to the outcome of pending appeals or motions; (v) there are significant factual issues to be resolved; and/or (vi) there are novel legal issues or unsettled legal theories to be presented or a large number of parties. For these cases, however, management does not believe, based on currently available information, that the outcomes of these proceedings will have a material adverse effect on our financial condition, though the outcomes could be material to our operating results for any particular period, depending, in part, upon the operating results for such period.

ClearPlay, Inc.

On March 13, 2014, ClearPlay, Inc. (“ClearPlay”) filed a complaint against us and our wholly-owned subsidiaries DISH Network and DISH Network L.L.C., and our then wholly-owned subsidiary EchoStar Technologies L.L.C., in the United States District Court for the District of Utah. The complaint alleges willful infringement of United States Patent Nos. 6,898,799 (the “799 patent”), entitled “Multimedia Content Navigation and Playback”; 7,526,784 (the “784 patent”), entitled “Delivery of Navigation Data for Playback of Audio and Video Content”; 7,543,318 (the “318 patent”), entitled “Delivery of Navigation Data for Playback of Audio and Video Content”; 7,577,970 (the “970 patent”), entitled “Multimedia Content Navigation and Playback”; and 8,117,282 (the “282 patent”), entitled “Media Player Configured to Receive Playback Filters From Alternative Storage Mediums.” ClearPlay alleges that the AutoHop™ feature of our Hopper® set-top box infringes the asserted patents. On February 11, 2015, the case was stayed pending various third-party challenges before the United States Patent and Trademark Office regarding the validity of certain of the patents asserted in the action.

In those third-party challenges, the United States Patent and Trademark Office found that all claims of the 282 patent are unpatentable, and that certain claims of the 784 patent and 318 patent are unpatentable. ClearPlay appealed as to the 784 patent and the 318 patent, and on August 23, 2016, the United States Court of Appeals for the Federal Circuit affirmed the findings of the United States Patent and Trademark Office. On October 31, 2016, the stay was lifted, and in May 2017, ClearPlay agreed to dismiss us and DISH Network as defendants, leaving DISH Network L.L.C. and DISH Technologies L.L.C. as the sole defendants.

On October 16, October 21, November 2, 2020 and November 9, 2020, DISH Network L.L.C. filed petitions with the United States Patent and Trademark Office requesting ex parte reexamination of the validity of the asserted claims of, respectively, the 784 patent, the 799 patent, the 318 patent and the 970 patent; and on November 2, November 20, December 14 and December 15, 2020, the United States Patent and Trademark Office granted each request for reexamination. On May 7, 2021, May 25, 2021, June 25, 2021 and July 7, 2021, the United States Patent and Trademark Office issued Ex Parte Reexamination Certificates confirming the patentability of the challenged claims of, respectively, the 799 patent, the 784 patent, the 318 patent and the 970 patent.

In October and November 2021, DISH Network L.L.C. filed petitions with the United States Patent and Trademark Office requesting ex parte reexamination of the validity of certain asserted claims of the 784 patent, the 799 patent and the 970 patent. In November and December, 2021, the United States Patent and Trademark Office granted review of the challenged claims of the 799 patent and the 970 patent, but denied review of the challenged claims of the 784 patent. On January 24, 2022, an examiner of the United States Patent and Trademark Office affirmed the challenged claims of the 799 patent, and on January 19, 2023, an examiner of the United States Patent and Trademark Office affirmed the challenged claims of the 970 patent.

In an order dated January 31, 2023, the Court granted in part and denied in part DISH Network L.L.C.’s and DISH Technologies L.L.C.’s motion for summary judgment. Thereafter, ClearPlay narrowed its case to three asserted claims: one under the 799 patent and two under the 970 patent. Following a two-week trial, on March 10, 2023, the jury returned a verdict that DISH Network L.L.C. and DISH Technologies L.L.C. infringed each of the asserted patent claims (though not willfully), and awarded damages of $469 million. That verdict became moot on March 21, 2023, when the trial court indicated that it would grant DISH Network L.L.C.’s and DISH Technologies L.L.C.’s motion for judgment as a matter of law, thus effectively vacating the jury award.

On June 2, 2023, the Court entered its formal order granting judgment as a matter of law. On December 12, 2023, the Court denied ClearPlay’s motion to alter or amend the judgment. ClearPlay has filed a notice of appeal to the United States Court of Appeals for the Federal Circuit.

We intend to vigorously defend this case. In the event that a court ultimately determines that we infringe the asserted patents, we may be subject to substantial damages, which may include treble damages, and/or an injunction that could require us to materially modify certain features that we currently offer to consumers. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

Data Breach Class Actions

On May 9, 2023, Susan Owen-Brooks, an alleged customer, filed a putative class action complaint against our wholly-owned subsidiary DISH Network in the United States District Court for the District of Colorado. She purports to represent a nationwide class of all individuals in the United States who allegedly had private information stolen as a result of the February 23, 2023 Cyber-security Incident (and a North Carolina statewide subclass of the same individuals). On behalf of the nationwide class, she alleges claims for contractual breaches, negligence and unjust enrichment (and, on behalf of the North Carolina subclass only, violation of the North Carolina Deceptive Trade Practices Act), and seeks monetary damages, injunctive relief and a declaratory judgment. Since that filing, ten additional putative class action complaints have been filed in the United States District Court for the District of Colorado, purporting to represent the same nationwide class of people, and Owen-Brooks has filed an amended complaint. On August 2, 2023, the Court issued an order consolidating the first ten cases (the eleventh was dismissed) and, on November 16, 2023, the plaintiffs filed a consolidated amended class action complaint.

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

Digital Broadcasting Solutions, LLC

On August 29, 2022, Digital Broadcasting Solutions, LLC filed a complaint against our wholly-owned subsidiaries DISH Network L.L.C. and DISH Technologies L.L.C. in the United States District Court for the Eastern District of Texas. The complaint alleges infringement of U.S. Patent No. 8,929,710 (the “710 patent”) and U.S. Patent No. 9,538,122 (the “122 patent”), each entitled “System and method for time shifting at least a portion of a video program.” Generally, the plaintiff contends that the AutoHop feature of our Hopper® set-top boxes infringes the asserted patents. On June 21, 2023, the Court granted the motion of DISH Network L.L.C. and DISH Technologies L.L.C. to have the case transferred to the United States District Court for the District of Colorado. In May 2023, DISH Network L.L.C. and DISH Technologies L.L.C. filed petitions with the United States Patent and Trademark Office challenging the validity of all claims of the 710 patent and the 122 patent and, on December 11, 2023, the United States Patent and Trademark Office entered decisions instituting each petition.

Entropic Communications, LLC (first action)

On March 9, 2022, Entropic Communications, LLC (“Entropic”) filed a complaint against our wholly-owned subsidiaries DISH Network, DISH Network L.L.C. and Dish Network Service L.L.C. in the United States District Court for the Eastern District of Texas. The complaint alleges infringement of U.S. Patent No. 7,130,576 (the “576 patent”), entitled “Signal Selector and Combiner for Broadband Content Distribution”; U.S. Patent No. 7,542,715 (the “715 Patent”), entitled “Signal Selector and Combiner for Broadband Content Distribution”; and U.S. Patent No. 8,792,008 (the “008 Patent”), entitled “Method and Apparatus for Spectrum Monitoring.” On March 30, 2022, Entropic filed an amended complaint alleging infringement of the same patents. Generally, the plaintiff accuses satellite antennas, low-noise block converters, signal selector and combiners, and set-top boxes and the manner in which they process signals for satellite television customers of infringing the asserted patents.

On October 24, 2022, this case was ordered to be transferred to the United States District Court for the Central District of California. A companion case against DirecTV was also ordered transferred to the United States District Court for the Central District of California. In January and February of 2023, DISH Network L.L.C. and Dish Network Service L.L.C. filed petitions with the United States Patent and Trademark Office challenging the validity of all claims of the 715 patent, all claims of the 008 patent, and 25 claims of the 576 patent, which includes all of its asserted claims. In August and September 2023, the Patent Office denied institution on the petitions challenging the 715 patent and the 576 patent. In September 2023, at the parties’ joint request, the Patent Office dismissed the petition challenging the 008 patent, as Entropic agreed to drop its claims against DISH Network on that patent.

Entropic Communications, LLC (second action)

On February 10, 2023, Entropic filed a second lawsuit against our wholly-owned subsidiaries DISH Network, DISH Network L.L.C., Dish Network Service L.L.C. and Dish Network California Service Corporation in the United States District Court for the Central District of California. The complaint alleges infringement of U.S. Patent No. 7,295,518 (the “518 patent”), entitled “Broadband network for coaxial cable using multi-carrier modulation”; U.S. Patent No. 7,594,249 (the “249 patent”), entitled “Network interface device and broadband local area network using coaxial cable”; U.S. Patent Nos. 7,889,759 (the “759 patent”), entitled “Broadband cable network utilizing common bit-loading”; U.S. Patent No. 8,085,802 (the “802 Patent”), entitled “Multimedia over coaxial cable access protocol”; U.S. Patent No. 9,838,213 (the “213 patent”), entitled “Parameterized quality of service architecture in a network”; U.S. Patent No. 10,432,422 (the “422 patent”), entitled “Parameterized quality of service architecture in a network”; U.S. Patent No. 8,631,450 (the “450 patent”), entitled “Broadband local area network”; U.S. Patent No. 8,621,539 (the “539 patent”), entitled “Physical layer transmitter for use in a broadband local area network”; U.S. Patent No. 8,320,566 (the “0,566 patent”), entitled “Method and apparatus for performing constellation scrambling in a multimedia home network”; U.S. Patent No. 10,257,566 (the “7,566 patent”), entitled “Broadband local area network”; U.S. Patent No. 8,228,910 (the “910 Patent”), entitled “Aggregating network packets for transmission to a destination mode”; and U.S. Patent No. 8,363,681 (the “681 patent”), entitled “Method and apparatus for using ranging measurements in a multimedia home network.” Generally, the patents relate to Multimedia over Coax Alliance standards and the manner in which we provide a whole-home DVR network over an on-premises coaxial cable network.

Entropic has asserted the same patents in the same court against Comcast, Cox and DirecTV. On September 7, 2023, the Court granted the motion of DISH Network L.L.C., Dish Network Service L.L.C. and Dish Network California Service Corporation to dismiss the claims arising from the 7,566 patent and the 910 patent on the grounds that they claimed in eligible subject matter. In January and February 2024, DISH Network L.L.C. filed petitions with the United States Patent and Trademark Office challenging the validity of the 249 patent, the 518 patent, the 759 patent, the 450 patent, the 539 patent, the ‘0,566 patent, and the ‘681 patent.

Freedom Patents

On April 7, 2023, Freedom Patents LLC filed a complaint against our wholly-owned subsidiaries DISH Network, DISH Network L.L.C. and Dish Network Service L.L.C. in the United States District Court for the Eastern District of Texas. The complaint alleges infringement of U.S. Patent No. 8,284,686 (the “686 Patent”), entitled “Antenna/Beam Selection Training in MIMO Wireless LANS with Different Sounding Frames”; U.S. Patent No. 8,374,096 (the “096 Patent”), entitled “Method for Selecting Antennas and Beams in MIMO Wireless LANs”; and U.S. Patent No. 8,514,815 (the “815 Patent”), entitled “Training Signals for Selecting Antennas and Beams in MIMO Wireless LANs.” Similar complaints were also filed against Acer, Altice, Charter, Comcast and Verizon. In general, the asserted patents relate to the 802.11 wireless standard, and the products accused of infringement are the Wireless Joey, its access point, and certain Ring, Nest and Linksys products that we sell. On March 15, 2024, the Court denied the defendants’ motion to transfer the case to the United States District Court for the District of Colorado. The parties have reached a settlement under which DISH Network, DISH Network L.L.C. and Dish Network Service L.L.C. will pay a non-material sum in exchange for dismissal of the litigation and a license to the asserted patents.

We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The plaintiff is an entity that seeks to license a patent portfolio without itself practicing any of the claims recited therein.

Hughes Telecommunicaoes do Brasil v. State of São Paulo Treasury Department

On December 12, 2019, Hughes Telecommunicaoes do Brasil (“HTB”) filed a tax annulment claim in the Judicial Court of São Paulo, claiming that a tax assessment from the State Treasury of São Paulo, for the period from January 2013 to December 2014, was based on an erroneous interpretation of an exemption to the ICMS (a state tax on, among other things, communications).

In June 2022, a judicial expert determined that HTB’s interpretation of the exemption was correct. Nonetheless, in July 2023, the Court entered judgment against HTB, and in October 2023, rejected HTB’s request for clarification. In November 2023, HTB filed an appeal to the Court of Justice.

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of the suit.

Jones 401(k) Litigation

On December 20, 2021, four former employees filed a class action complaint in the United States District Court for the District of Colorado against our wholly-owned subsidiary DISH Network, its Board of Directors, and its Retirement Plan Committee alleging fiduciary breaches arising from the management of our 401(k) Plan. The putative class, comprised of all participants in the Plan on or after January 20, 2016, alleges that the Plan had excessive recordkeeping and administrative expenses and that it maintained underperforming funds. On February 1, 2023, a Magistrate Judge issued a recommendation that the defendants’ motion to dismiss the complaint be granted, and on March 27, 2023, the district court judge granted the motion. As permitted by the Court’s order, the plaintiffs filed an amended complaint on April 10, 2023, which is limited to allegations regarding the alleged underperformance of the Fidelity Freedom Funds. On November 7, 2023, a Magistrate Judge issued a recommendation that the defendants’ motion to dismiss the amended complaint be denied as to the duty to prudently monitor fund performance, but be granted as to the duty of loyalty and, on November 27, 2023, the district court judge entered an order adopting the recommendation. On April 30, 2024, the parties filed a stipulation to certification of the proposed plaintiff class.

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

License Fee Dispute with Government of India, Department of Telecommunications

In 1994, the Government of India promulgated a “National Telecommunications Policy” under which the government liberalized the telecommunications sector and required telecommunications service providers to pay fixed license fees. Pursuant to this policy, our subsidiary Hughes Communications India Private Limited (“HCIPL”), formerly known as Hughes Escorts Communications Limited, obtained a license to operate a data network over satellite using VSAT systems. In 2002, HCIPL’s license was amended pursuant to a 1999 government policy that eliminated fixed license fees and replaced them with license fees based on service providers’ adjusted gross revenue (“AGR”). In March 2005, the Indian Department of Telecommunications (“DOT”) notified HCIPL that, based on its review of HCIPL’s audited accounts and AGR statements, HCIPL must pay additional license fees and penalties and interest on such fees and penalties. HCIPL responded that the DOT had improperly calculated its AGR by including revenue from both licensed and unlicensed activities.

The DOT rejected this explanation and in 2006, HCIPL filed a petition with an administrative tribunal (the “Tribunal”), challenging the DOT’s calculation of its AGR. The DOT also issued license fee assessments to other telecommunications service providers and those other providers filed similar petitions with the Tribunal. These petitions were amended, consolidated, remanded and re-appealed several times. On April 23, 2015, the Tribunal issued a judgment affirming the DOT’s calculation of AGR for the telecommunications service providers but reversing the DOT’s imposition of interest, penalties and interest on such penalties as excessive.

Over subsequent years, the DOT and HCIPL and other telecommunications service providers, respectively, filed several appeals of the Tribunal’s ruling. On October 24, 2019, the Supreme Court of India (“Supreme Court”) issued an order (the “October 2019 Order”) affirming the license fee assessments imposed by the DOT, including its imposition of interest, penalties and interest on the penalties, but without indicating the amount HCIPL was required to pay the DOT, and ordering payment by January 23, 2020. On November 23, 2019, HCIPL and other telecommunication service providers filed a petition asking the Supreme Court to reconsider the October 2019 Order.

The petition was denied on January 20, 2020. On January 22, 2020, HCIPL and other telecommunication service providers filed an application requesting that the Supreme Court modify the October 2019 Order to permit the DOT to calculate the final amount due and extend HCIPL’s and the other telecommunication service providers’ payment deadline. On February 14, 2020, the Supreme Court directed HCIPL and the other telecommunication service providers to explain why the Supreme Court should not initiate contempt proceedings for failure to pay the amounts due.

During a hearing on March 18, 2020, the Supreme Court ordered that all amounts that were due before the October 2019 Order must be paid, including interest, penalties and interest on the penalties. The Supreme Court also ordered that the parties appear for a further hearing addressing, among other things, a proposal by the DOT to allow for extended or deferred payments of amounts due. On June 11, 2020, the Supreme Court ordered HCIPL and the other telecommunication service providers to submit affidavits addressing the proposal made by the DOT to extend the time frame for payment of the amounts owed and for HCIPL and the other telecommunication providers to provide security for such payments.

On September 1, 2020, the Supreme Court issued a judgment permitting a 10-year payment schedule. Under this payment schedule, HCIPL is required to make an annual payment every March 31, through 2031. Following the Supreme Court of India’s October 2019 judgment, HCIPL made payments during the first quarter of 2020, and additional payments on each March 31 thereafter. As of March 31, 2024, the gross amount of fees, penalties and interest owed was approximately $90 million with $52 million remaining outstanding as a result of historical payments.

Pursuant to the Contribution and Membership Interest Purchase Agreement (the “Purchase Agreement”) dated December 3, 2004 between The DirecTV Group, Inc. (“DirecTV”) and certain other entities relating to DirecTV’s spinoff of certain of its subsidiaries, including HCIPL, DirecTV undertook to indemnify HCIPL for certain pre-closing tax liabilities. On March 27, 2020, HCIPL filed an indemnification complaint against DirecTV in the United States District Court for the Southern District of New York, seeking to recover certain license fees, penalties and interest owed to the Indian government as a result of the aforementioned proceedings. On November 16, 2021, the New York court granted summary judgment in favor of DirecTV, but on June 22, 2023, the United States Court of Appeals for the Second Circuit reversed, holding that, under the Purchase Agreement, HCIPL is entitled to indemnification from DirecTV. The Second Circuit remanded the case back to the trial court to determine the amount of indemnification owed.

Lingam Securities Class Action (formerly Jaramillo)

On March 23, 2023, a securities fraud class action complaint was filed against our wholly-owned subsidiary DISH Network and Messrs. Ergen, Carlson and Orban in the United States District Court for the District of Colorado. The complaint is brought on behalf of a putative class of purchasers of our securities during the February 22, 2021 to February 27, 2023 class period. In general, the complaint alleges that DISH Network’s public statements during that period were false and misleading and contained material omissions, because they did not disclose that DISH Network allegedly maintained a deficient cyber-security and information technology infrastructure, were unable to properly secure customer data and DISH Network’s operations were susceptible to widespread service outages.

In August 2023, the Court appointed a new lead plaintiff and lead plaintiff’s counsel, and, on October 20, 2023, they filed an amended complaint that abandoned the original allegations. In their amended complaint, plaintiffs allege that, during the class period, the defendants concealed problems concerning the 5G network buildout that prevented scaling and commercializing the network to obtain enterprise customers.

The amended complaint adds as individual defendants James S. Allen, DISH Network’s Senior Vice President and Chief Accounting Officer; John Swieringa, our President, Technology and Chief Operating Officer; Dave Mayo, DISH Network’s former Executive Vice President of Network Development; Marc Rouanne, DISH Network’s Executive Vice President and Chief Network Officer; and Stephen Bye, DISH Network’s former Executive Vice President and Chief Commercial Officer. After the defendants filed a motion to dismiss, the plaintiffs filed a further amended complaint, asserting the same theory, on February 23, 2024. The new complaint drops Erik Carlson, John Swieringa, Paul Orban and James Allen as individual defendants.

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

Realtime Data LLC and Realtime Adaptive Streaming LLC

On June 6, 2017, Realtime Data LLC d/b/a IXO (“Realtime”) filed an amended complaint in the United States District Court for the Eastern District of Texas (the “Original Texas Action”) against us and our wholly-owned subsidiaries DISH Network, DISH Network L.L.C., DISH Technologies L.L.C. (then known as EchoStar Technologies L.L.C.), Sling TV L.L.C., Sling Media L.L.C. and Hughes Network Systems, L.L.C. (“HNS”); and

Arris Group, Inc. Realtime’s initial complaint in the Original Texas Action, filed on February 14, 2017, had named only us and our wholly-owned subsidiary HNS as defendants.

The amended complaint in the Original Texas Action alleges infringement of United States Patent No. 8,717,204 (the “204 patent”), entitled “Methods for encoding and decoding data”; United States Patent No. 9,054,728 (the “728 patent”), entitled “Data compression systems and methods”; United States Patent No. 7,358,867 (the “867 patent”), entitled “Content independent data compression method and system”; United States Patent No. 8,502,707 (the “707 patent”), entitled “Data compression systems and methods”; United States Patent No. 8,275,897 (the “897 patent”), entitled “System and methods for accelerated data storage and retrieval”; United States Patent No. 8,867,610 (the “610 patent”), entitled “System and methods for video and audio data distribution”; United States Patent No. 8,934,535 (the “535 patent”), entitled “Systems and methods for video and audio data storage and distribution”; and United States Patent No. 8,553,759 (the “759 patent”), entitled “Bandwidth sensitive data compression and decompression.”

Realtime alleges that our, Sling TV L.L.C.’s, Sling Media L.L.C.’s and Arris Group, Inc.’s streaming video products and services compliant with various versions of the H.264 video compression standard infringe the 897 patent, the 610 patent and the 535 patent, and that the data compression system in HNS’ products and services infringes the 204 patent, the 728 patent, the 867 patent, the 707 patent and the 759 patent.

On July 19, 2017, the Court severed Realtime’s claims against DISH Network, DISH Network L.L.C., Sling TV L.L.C., Sling Media L.L.C. and Arris Group, Inc. (alleging infringement of the 897 patent, the 610 patent and the 535 patent) from the Original Texas Action into a separate action in the United States District Court for the Eastern District of Texas (the “Second Texas Action”). On August 31, 2017, Realtime dismissed the claims against DISH Network, Sling TV L.L.C., Sling Media Inc., and Sling Media L.L.C. from the Second Texas Action and refiled these claims (alleging infringement of the 897 patent, the 610 patent and the 535 patent) against Sling TV L.L.C., Sling Media Inc., and Sling Media L.L.C. in a new action in the United States District Court for the District of Colorado (the “Colorado Action”). Also on August 31, 2017, Realtime dismissed DISH Technologies L.L.C. from the Original Texas Action, and on September 12, 2017, added it as a defendant in an amended complaint in the Second Texas Action. On November 6, 2017, Realtime filed a joint motion to dismiss the Second Texas Action without prejudice, which the Court entered on November 8, 2017.

On October 10, 2017, Realtime Adaptive Streaming LLC (“Realtime Adaptive Streaming”) filed suit against our wholly-owned subsidiaries DISH Network L.L.C. and DISH Technologies L.L.C., as well as Arris Group, Inc., in a new action in the United States District Court for the Eastern District of Texas (the “Third Texas Action”), alleging infringement of the 610 patent and the 535 patent. Also on October 10, 2017, an amended complaint was filed in the Colorado Action, substituting Realtime Adaptive Streaming as the plaintiff instead of Realtime, and alleging infringement of only the 610 patent and the 535 patent, but not the 897 patent. On November 6, 2017, Realtime Adaptive Streaming filed a joint motion to dismiss the Third Texas Action without prejudice, which the court entered on November 8, 2017. Also on November 6, 2017, Realtime Adaptive Streaming filed a second amended complaint in the Colorado Action, adding our wholly-owned subsidiaries DISH Network L.L.C. and DISH Technologies L.L.C., as well as Arris Group, Inc., as defendants.

As a result, neither DISH Network nor any of its subsidiaries is a defendant in the Original Texas Action; the Court has dismissed without prejudice the Second Texas Action and the Third Texas Action; and our wholly-owned subsidiaries DISH Network L.L.C., DISH Technologies L.L.C., Sling TV L.L.C. and Sling Media L.L.C. as well as Arris Group, Inc., are defendants in the Colorado Action, which now has Realtime Adaptive Streaming as the named plaintiff. Following settlements with the plaintiff, we and HNS were dismissed from the Original Texas Action in February 2019, and Arris Group, Inc. was dismissed from the Colorado Action in March 2021.

On July 3, 2018, Sling TV L.L.C., Sling Media L.L.C., DISH Network L.L.C., and DISH Technologies L.L.C. filed petitions with the United States Patent and Trademark Office challenging the validity of each of the asserted patents. On January 31, 2019, the United States Patent and Trademark Office agreed to institute proceedings on DISH Network’s petitions, and it held trial on the petitions on December 5, 2019. On January 17, 2020, the United States Patent and Trademark Office terminated the petitions as time-barred, but issued a final written decision invalidating the 535 patent to third parties that had timely joined in DISH Network’s petition (and, on January 10, 2020, issued a final written decision invalidating the 535 patent in connection with a third party’s independent petition). On March 16, 2020, Sling TV L.L.C., Sling Media L.L.C., DISH Network L.L.C., and DISH Technologies L.L.C. filed a notice of appeal from the terminated petitions to the United States Court of Appeals for the Federal Circuit. On June 29, 2020, the United States Patent and Trademark Office filed a notice of intervention in the appeal. On March 16, 2021, the Court of Appeals dismissed the appeal for lack of jurisdiction. On April 29, 2021, Sling TV L.L.C., Sling Media L.L.C., DISH Network L.L.C., and DISH Technologies L.L.C. filed a petition for rehearing, which was denied on June 28, 2021. On January 12, 2021, Realtime Adaptive Streaming filed a notice of dismissal of its claims on the 535 patent.

On July 30, 2021, the District Court granted summary judgment in favor of DISH Network L.L.C., DISH Technologies L.L.C., Sling TV L.L.C. and Sling Media L.L.C., holding that the remaining asserted patent, the 610 patent, is invalid because it claims patent-ineligible abstract subject matter. Realtime Adaptive Streaming appealed that ruling to the United States Court of Appeals for the Federal Circuit, and on May 11, 2023, that Court affirmed the District Court’s summary judgment order. Independently, on September 21, 2021, in connection with an ex parte reexamination of the validity of the 610 patent, an examiner at the United States Patent and Trademark Office issued a final office action rejecting each asserted claim of the 610 patent as invalid over the cited prior art. On April 19, 2023, the Patent Trial and Appeal Board rejected Realtime Adaptive Streaming’s appeal and affirmed the examiner’s rejection of the asserted claims of the 610 patent. Realtime did not further appeal the Patent Trial and Appeal Board’s determination and, thus, the asserted claims of the 610 patent were canceled. As a result, DISH Network L.L.C., DISH Technologies L.L.C., Sling TV L.L.C. and Sling Media L.L.C. no longer face any possible exposure from this matter, and the liability phase of this case is concluded.

On January 21, 2022, the District Court granted the motion by DISH Network L.L.C., DISH Technologies L.L.C., Sling TV L.L.C. and Sling Media L.L.C. to have the case declared “exceptional,” and on September 20, 2022, awarded them $3.9 million in attorneys’ fees. Realtime Adaptive Streaming filed a notice of appeal to the United States Court of Appeals for the Federal Circuit from the exceptionality and fee award orders, and that court heard oral argument on April 2, 2024.

SafeCast Limited

On June 27, 2022, SafeCast Limited filed a complaint against our wholly-owned subsidiary DISH Network in the United States District Court for the Western District of Texas. The complaint alleges that DISH Network infringe U.S. Patent No. 9,392,302, entitled “System for providing improved facilities in time-shifted broadcasts” (the “302 patent”). On the same day, it brought complaints in the same court asserting infringement of the same patent against AT&T, Google, HBO, NBCUniversal, Paramount and Verizon. On October 24, 2022, in response to the parties’ joint motion, the Court ordered the case against DISH Network transferred to the United States District Court for the District of Colorado. On December 1, 2022, SafeCast filed an amended complaint naming our wholly-owned subsidiaries DISH Network L.L.C. and DISH Technologies L.L.C. as defendants and withdrawing the allegations as to DISH Network. On June 22, 2023, DISH Network L.L.C. and DISH Technologies L.L.C. filed a petition with the United States Patent and Trademark Office challenging the validity of the asserted claims of the 302 patent. On August 28, 2023, the Court stayed the case pending resolution of the petition.

We intend to vigorously defend this case. In the event that a court ultimately determines that we infringe the asserted patent, we may be subject to substantial damages, which may include treble damages, and/or an injunction that could require us to materially modify certain features that we currently offer to consumers. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The plaintiff is an entity that seeks to license a patent portfolio without itself practicing any of the claims recited therein.

Sound View Innovations, LLC

On December 30, 2019, Sound View Innovations, LLC filed one complaint against our wholly-owned subsidiaries DISH Network L.L.C. and DISH Technologies L.L.C. and a second complaint against our wholly-owned subsidiary Sling TV L.L.C. in the United States District Court for the District of Colorado. The complaint against DISH Network L.L.C. and DISH Technologies L.L.C. alleges infringement of United States Patent No 6,502,133 (the “133 patent”), entitled “Real-Time Event Processing System with Analysis Engine Using Recovery Information” and both complaints allege infringement of United States Patent No. 6,708,213 (the “213 patent), entitled “Method for Streaming Multimedia Information Over Public Networks”; United States Patent No. 6,757,796 (the “796 patent”), entitled “Method and System for Caching Streaming Live Broadcasts transmitted Over a Network”; and United States Patent No. 6,725,456 (the “456 patent”), entitled “Methods and Apparatus for Ensuring Quality of Service in an Operating System.” All but the 133 patent are also asserted in the complaint against Sling TV L.L.C.

On May 21, 2020, June 3, 2020, June 5, 2020 and July 10, 2020, DISH Network L.L.C., DISH Technologies L.L.C. and Sling TV L.L.C. filed petitions with the United States Patent and Trademark Office challenging the validity of, respectively, the 213 patent, the 133 patent, the 456 patent and the 796 patent. On November 25, 2020, the United States Patent and Trademark Office declined to review the validity of the 213 patent, and on September 29, 2021, denied a request for rehearing of that decision. On January 19, 2021, the United States Patent and Trademark Office agreed to institute proceedings on the 456 patent but declined to review the 133 patent. On February 24, 2021, the United States Patent and Trademark Office agreed to institute proceedings on the 796 patent.

On January 18, 2022, the United States Patent and Trademark Office issued a final written decision holding that the challenged claim of the 456 patent is patentable, and on February 8, 2022, it issued a final written decision holding that the challenged claims of the 796 patent are patentable. On March 22, 2022, DISH Network L.L.C., DISH Technologies L.L.C. and Sling TV L.L.C. filed a notice of appeal to the United States Court of Appeals for the Federal Circuit from the adverse final written decision regarding the 456 patent, and on April 8, 2022, they filed a notice of appeal to the same court from the adverse final written decision regarding the 796 patent. The appeal on the 456 patent was voluntarily dismissed on December 6, 2022. The Federal Circuit heard oral argument on the 796 patent appeal on October 3, 2023, and affirmed the United States Patent and Trademark Office’s adverse final written decision on October 5, 2023.

On April 20, 2022, DISH Network L.L.C., DISH Technologies L.L.C. and Sling TV L.L.C. filed a petition with the United States Patent and Trademark Office requesting ex parte reexamination of the validity of one of the asserted claims of the 213 patent, and reexamination was ordered on June 16, 2022. On January 18, 2023, they filed another petition requesting ex parte reexamination of the validity of the four additional asserted claims of the 213 patent, and reexamination was ordered on April 17, 2023. On November 13, 2023, the United States Patent and Trademark Office confirmed the patentability of the claim challenged in our first petition.

We intend to vigorously defend these cases. In the event that a court ultimately determines that we infringe the asserted patents, we may be subject to substantial damages, which may include treble damages, and/or an injunction that could require us to materially modify certain features that we currently offer to consumers. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages. The plaintiff is an entity that seeks to license a patent portfolio without itself practicing any of the claims recited therein.

State of Illinois ex rel. Rodriguez

In March 2020, two private “relators” filed this case in the Circuit Court of Cook County Illinois, County Department, Law Division, under the Illinois False Claims Act against DISH Wireless, Sprint and more than 60 Boost Mobile retailers in Illinois. The defendants only became aware of the lawsuit after it was unsealed in March 2022. The operative Second Amended Complaint alleges that the retailer defendants should have collected sales tax under the Retailers’ Occupation Tax Act on any amounts that Sprint or DISH Network rebated them to facilitate handset price discounts to Illinois consumers (“Prepaid Phone Rebates”) and on any phone activation fees the retailers charged to customers (“Device Setup Charges”). It further alleges that DISH Wireless and Sprint are liable for the alleged violations arising from the Device Setup Charges because of the way they allegedly managed the point-of-sale system that the retailer defendants used. The Plaintiffs seek to recover triple the amount of allegedly unpaid taxes, fines for each alleged violation, and attorneys’ fees and costs. On June 13, 2023, the Court denied the defendants’ motions to dismiss the complaint, but on January 2, 2024, it granted reconsideration and dismissed the complaint as to DISH Wireless and Sprint, with leave to amend. The Plaintiffs filed a Third Amended Complaint on February 2, 2024.

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

TQ Delta, LLC

On July 17, 2015, TQ Delta, LLC (“TQ Delta”) filed a complaint against our wholly-owned subsidiaries DISH Network, DISH DBS Corporation and DISH Network L.L.C. in the United States District Court for the District of Delaware. The Complaint alleges infringement of United States Patent No. 6,961,369 (the “369 patent”), which is entitled “System and Method for Scrambling the Phase of the Carriers in a Multicarrier Communications System”; United States Patent No. 8,718,158 (the “158 patent”), which is entitled “System and Method for Scrambling the Phase of the Carriers in a Multicarrier Communications System”; United States Patent No. 9,014,243 (the “243 patent”), which is entitled “System and Method for Scrambling Using a Bit Scrambler and a Phase Scrambler”; United States Patent No.7,835,430 (the “430 patent”), which is entitled “Multicarrier Modulation Messaging for Frequency Domain Received Idle Channel Noise Information”; United States Patent No. 8,238,412 (the “412 patent”), which is entitled “Multicarrier Modulation Messaging for Power Level per Subchannel Information”; United States Patent No. 8,432,956 (the “956 patent”), which is entitled “Multicarrier Modulation Messaging for Power Level per Subchannel Information”; and United States Patent No. 8,611,404 (the “404 patent”), which is entitled “Multicarrier Transmission System with Low Power Sleep Mode and Rapid-On Capability.”

On September 9, 2015, TQ Delta filed a first amended complaint that added allegations of infringement of United States Patent No. 9,094,268 (the “268 patent”), which is entitled “Multicarrier Transmission System With Low Power Sleep Mode and Rapid-On Capability.” On May 16, 2016, TQ Delta filed a second amended complaint that added us Corporation and our then wholly-owned subsidiary EchoStar Technologies L.L.C. as defendants. TQ Delta alleges that our satellite TV service, Internet service, set-top boxes, gateways, routers, modems, adapters and networks that operate in accordance with one or more Multimedia over Coax Alliance Standards infringe the asserted patents. TQ Delta has filed actions in the same court alleging infringement of the same patents against Comcast Corp., Cox Communications, Inc., DirecTV, Time Warner Cable Inc. and Verizon Communications, Inc. TQ Delta is an entity that seeks to license an acquired patent portfolio without itself practicing any of the claims recited therein.

On July 14, 2016, TQ Delta stipulated to dismiss with prejudice all claims related to the 369 patent and the 956 patent. On July 20, 2016, DISH Network filed petitions with the United States Patent and Trademark Office challenging the validity of all of the patent claims of the 404 patent and the 268 patent that have been asserted against DISH Network. Third parties filed petitions with the United States Patent and Trademark Office challenging the validity of all of the patent claims that have been asserted against us in the action. On November 4, 2016, the United States Patent and Trademark Office agreed to institute proceedings on the third-party petitions related to the 158 patent, the 243 patent, the 412 patent and the 430 patent. On December 20, 2016, pursuant to a stipulation of the parties, the Court stayed the case until the resolution of all petitions to the United States Patent and Trademark Office challenging the validity of all of the patent claims at issue. On January 19, 2017, the United States Patent and Trademark Office granted DISH Network’s motions to join the instituted petitions on the 430 and 158 patents.

On February 9, 2017, the United States Patent and Trademark Office agreed to institute proceedings on DISH Network’s petition related to the 404 patent, and on February 13, 2017, the United States Patent and Trademark Office agreed to institute proceedings on our petition related to the 268 patent. On February 27, 2017, the United States Patent and Trademark Office granted DISH Network’s motions to join the instituted petitions on the 243 and 412 patents. On October 26, 2017, the United States Patent and Trademark Office issued final written decisions on the petitions challenging the 158 patent, the 243 patent, the 412 patent and the 430 patent, and it invalidated all of the asserted claims of those patents.

On February 7, 2018, the United States Patent and Trademark Office issued final written decisions on the petitions challenging the 404 patent, and it invalidated all of the asserted claims of that patent on the basis of DISH Network’s petition. On February 10, 2018, the United States Patent and Trademark Office issued a final written decision on DISH Network’s petition challenging the 268 patent, and it invalidated all of the asserted claims.

On March 12, 2018, the United States Patent and Trademark Office issued a final written decision on a third-party petition challenging the 268 patent, and it invalidated all of the asserted claims. All asserted claims have now been invalidated by the United States Patent and Trademark Office. TQ Delta filed notices of appeal from the final written decisions adverse to it. On May 9, 2019, the United States Court of Appeals for the Federal Circuit affirmed the invalidity of the 430 patent and the 412 patent. On July 10, 2019, the United States Court of Appeals for the Federal Circuit affirmed the invalidity of the asserted claims of the 404 patent. On July 15, 2019, the United States Court of Appeals for the Federal Circuit affirmed the invalidity of the asserted claims of the 268 patent. On November 22, 2019, the United States Court of Appeals for the Federal Circuit reversed the invalidity finding on the 243 patent and the 158 patent, and then, on March 29, 2020, denied a petition for panel rehearing as to those findings. On April 13, 2021, the Court lifted the stay, and the case is proceeding on the 243 patent and the 158 patent. On April 23 and April 26, 2021, the United States Patent and Trademark Office issued orders granting requests for ex parte reexamination of, respectively, the 243 patent and the 158 patent, but on July 27, 2023, the United States Patent and Trademark Office confirmed the challenged claims of the 243 patent. In a proposed supplemental report, TQ Delta’s damages expert contends that TQ Delta is entitled to $251 million in damages.

Uniloc 2017 LLC

On January 31, 2019, Uniloc 2017 LLC (“Uniloc”) filed a complaint against our wholly-owned subsidiary Sling TV L.L.C. in the United States District Court for the District of Colorado. The Complaint alleges infringement of United States Patent No. 6,519,005 (the “005 patent”), which is entitled “Method of Concurrent Multiple-Mode Motion Estimation for Digital Video”; United States Patent No. 6,895,118 (the “118 patent”), which is entitled “Method of Coding Digital Image Based on Error Concealment”; United States Patent No. 9,721,273 (the “273 patent”), which is entitled “System and Method for Aggregating and Providing Audio and Visual Presentations Via a Computer Network”); and United States Patent No. 8,407,609 (the “609 patent”), which is entitled “System and Method for Providing and Tracking the Provision of Audio and Visual Presentations Via a Computer Network.”

On June 25, 2019, Sling TV L.L.C. filed a petition with the United States Patent and Trademark Office challenging the validity of all of the asserted claims of the 005 patent. On July 19, 2019 and July 22, 2019, respectively, Sling TV L.L.C. filed petitions with the United States Patent and Trademark Office challenging the validity of all asserted claims of the 273 patent and the 609 patent. On August 12, 2019, Sling TV L.L.C. filed a petition with the United States Patent and Trademark Office challenging the validity of all of the asserted claims of the 118 patent. On October 18, 2019, pursuant to a stipulation of the parties, the Court entered a stay of the trial proceedings.

On January 9, 2020, the United States Patent and Trademark Office agreed to institute proceedings on the petition challenging the 005 patent. On January 15, 2020, the United States Patent and Trademark Office agreed to institute proceedings on the petition challenging the 273 patent. On February 4, 2020, the United States Patent and Trademark Office agreed to institute proceedings on the petition challenging the 609 patent. On February 25, 2020, the United States Patent and Trademark Office declined to institute proceedings on the petition challenging the 118 patent.

On December 28, 2020, the United States Patent and Trademark Office issued a final written decision upholding the validity of the challenged claims of the 273 patent. Sling TV L.L.C. appealed that decision to the United States Court of Appeals for the Federal Circuit, and on February 2, 2022, the Federal Circuit vacated the final written decision and remanded to the United States Patent and Trademark Office to reconsider its ruling. On remand, on September 7, 2022, the United States Patent and Trademark Office issued a revised final written decision finding all challenged claims of the 273 patent invalid. On November 9, 2022, Uniloc filed a notice of appeal of that revised final written decision, and briefing was completed on August 11, 2023.

On January 5, 2021, the United States Patent and Trademark Office issued a final written decision invalidating all challenged claims of the 005 patent. On January 19, 2021, the United States Patent and Trademark Office issued a final written decision invalidating all challenged claims of the 609 patent (and a second final written decision invalidating all challenged claims of the 609 patent based on a third party’s petition).

U.S. Bank Trust Company

On April 26, 2024, U.S. Bank Trust Company, in its capacity as Trustee under the Indentures for DISH DBS Corporation’s 5.75% Senior Secured Notes due 2028 and 7.75% Senior Notes due 2026, filed an action in state court in New York City against DISH DBS Corporation, DISH Network L.L.C., EchoStar Intercompany Receivable Company L.L.C., DISH DBS Issuer LLC, and DBS Intercompany Receivable L.L.C. In its complaint, the Trustee contends that certain intracompany asset transfers in January 2024 breached the Indentures for those Notes, and that the transfers were intentional and constructive fraudulent transfers under the Colorado Uniform Fraudulent Transfer Act. The Trustee seeks a declaratory judgment that DISH DBS Corporation breached the Indentures and that an Event of Default occurred under the DBS Indentures. It further asks the Court to unwind certain intracompany asset transfers and to award damages.

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of the suit or determine the extent of any potential liability or damages.

Vermont National Telephone Company

On September 23, 2016, the United States District Court for the District of Columbia unsealed a qui tam complaint that, on May 13, 2015, Vermont National filed against our wholly-owned subsidiaries, DISH Network, American AWS-3 Wireless I L.L.C., American II, American III, and DISH Wireless Holding L.L.C.; Charles W. Ergen (our Chairman) and Cantey M. Ergen (a member of our Board of Directors); Northstar Wireless; Northstar Spectrum; Northstar Manager; SNR Wireless; SNR HoldCo; SNR Management; and certain other parties. The complaint alleges violations of the federal civil False Claims Act (the “FCA”) based on, among other things, allegations that Northstar Wireless and SNR Wireless falsely claimed bidding credits of 25% in the AWS-3 Auction when they were allegedly under the de facto control of DISH Network and, therefore, were not entitled to the bidding credits as designated entities under applicable FCC rules. Vermont National participated in the AWS-3 Auction through its wholly-owned subsidiary, VTel Wireless. The complaint was unsealed after the United States Department of Justice notified the District Court that it had declined to intervene in the action. Vermont National seeks to recover on behalf of the United States government approximately $10 billion, which reflects the $3.3 billion in bidding credits that Northstar Wireless and SNR Wireless claimed in the AWS-3 Auction, trebled under the FCA. Vermont National also seeks civil penalties of not less than $5,500 and not more than $11,000 for each violation of the FCA. On March 2, 2017, the United States District Court for the District of Columbia entered a stay of the litigation until such time as the United States Court of Appeals for the District of Columbia (the “D.C. Circuit”) issued its opinion in SNR Wireless LicenseCo, LLC, et al. v. F.C.C. The D.C. Circuit issued its opinion on August 29, 2017 and remanded the matter to the FCC for further proceedings.

Thereafter, the District Court maintained the stay until October 26, 2018. On February 11, 2019, the District Court granted Vermont National’s unopposed motion for leave to file an amended complaint. On March 28, 2019, the defendants filed a motion to dismiss Vermont National’s amended complaint, and on March 23, 2021, the District Court granted the motion to dismiss. On April 21, 2021, Vermont National filed a notice of appeal to the United States Court of Appeals for the DC Circuit and, on May 17, 2022, that court reversed the District Court’s dismissal of the complaint. On June 16, 2022, the Defendants-Appellees filed a petition for rehearing or rehearing en banc, but on August 17, 2022, that petition was denied. On August 25, 2023, the FCC provided a sworn declaration stating that “the FCC considers … SNR and Northstar to have fully and timely satisfied their obligations to pay money to the Government arising from the AWS-3 Auction.” On that basis, on September 22, 2023, the Defendants filed a motion seeking partial summary judgment of no damages. On September 26, 2023, the Court denied the motion as premature. On March 8, 2024, the United States filed a motion to exercise its statutory prerogative to intervene in the case for the purpose of moving to dismiss it with prejudice, stating that the case is “unlikely to vindicate the United States’ interests and would needlessly expend the Government’s and this Court’s resources.”

We intend to vigorously defend this case. We cannot predict with any degree of certainty the outcome of this proceeding or determine the extent of any potential liability or damages.

Other

In addition to the above actions, we are subject to various other legal proceedings and claims that arise in the ordinary course of business, including, among other things, disputes with programmers regarding fees. In our opinion, the amount of ultimate liability with respect to any of these actions is unlikely to materially affect our financial condition, results of operations or liquidity, though the outcomes could be material to our operating results for any particular period, depending, in part, upon the operating results for such period.

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments (Tables)

3 Months Ended

Mar. 31, 2024

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

Schedule of marketable investment securities, restricted cash and cash equivalents, and other investments


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Marketable investment securities:
Current marketable investment securities:
Strategic - available-for-sale	$	149	$	144
Strategic - trading/equity		144,419		176,205
Other		8,081		446,695
Total current marketable investment securities		152,649		623,044
Restricted marketable investment securities (1)		31,266		27,840
Total marketable investment securities		183,915		650,884

Restricted cash and cash equivalents (1)		89,713		90,225

Other investments, net:
Equity method investments		161,657		169,038
Cost method investments		108,333		106,134
Fair value method and other debt investments		39,199		39,198
Total other investment securities, net		309,189		314,370

Total marketable investment securities, restricted cash and cash equivalents, and other investment securities, net	$	582,817	$	1,055,479

(1)	Restricted marketable investment securities and restricted cash and cash equivalents are included in “Restricted cash, cash equivalents and marketable investment securities” on our Condensed Consolidated Balance Sheets.

Schedule of fair value measurements


	As of
	March 31, 2024								December 31, 2023
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3

	(In thousands)
Cash equivalents (including restricted)	$	356,899	$	125,445	$	231,454	$	—	$	1,692,849	$	573,504	$	1,119,345	$	—

Debt securities (including restricted):
U.S. Treasury and agency securities	$	17,910	$	17,910	$	—	$	—	$	65,172	$	65,172	$	—	$	—
Commercial paper		6,100		—		6,100		—		290,398		—		290,398		—
Corporate securities		15,032		—		15,032		—		114,265		—		114,265		—
Other		454		—		305		149		4,844		—		4,700		144
Equity securities		144,419		134,689		9,730		—		176,205		166,481		9,724		—
Total	$	183,915	$	152,599	$	31,167	$	149	$	650,884	$	231,653	$	419,087	$	144

Schedule of gains and losses on sales and changes in carrying amounts of investments and other


	For the Three Months Ended
	March 31,
Other, net:	2024		2023

	(In thousands)
Marketable and non-marketable investment securities - realized and unrealized gains (losses)	$	(23,893)	$	(7,417)
Derivative instruments - net realized and/or unrealized gains (losses)		—		(28,961)
Gains (losses) related to early redemption of debt		—		49
Foreign currency transaction gains (losses)		(627)		3,172
Equity in earnings (losses) of affiliates		(2,786)		(2,002)
Other		1,196		398
Total	$	(26,110)	$	(34,761)

Long-Term Debt and Finance Lease Obligations - Narratives (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 15, 2024	Dec. 31, 2023	Dec. 21, 2020	Aug. 08, 2016
Debt Instrument
Interest rate (as a percent)	0.25%
Class A common stock
Debt Instrument
Common stock par value (in dollars per share)	$ 0.001		$ 0.001
0% Convertible Notes due 2025 \| Class A common stock
Debt Instrument
Convertible notes converted rate, shares	8.566
Aggregate principal amount	$ 1,000
Common stock par value (in dollars per share)	$ 116.74
3 3/8% Convertible Notes due 2026 \| Class A common stock
Debt Instrument
Convertible notes converted rate, shares	5.383
Aggregate principal amount	$ 1,000
Common stock par value (in dollars per share)	$ 185.76
3 3/8% Convertible Notes due 2026 \| Class A common stock \| Convertible note hedges
Debt Instrument
Convertible notes converted into shares	46,000,000
Common stock par value (in dollars per share)	$ 65.18
Total cost of convertible notes	$ 635,000,000
Conversion of shares	16,000,000
3 3/8% Convertible Notes due 2026 \| Class A common stock \| Convertible note hedges \| DISH Network
Debt Instrument
Share price (in dollars per share)	$ 185.76
3 3/8% Convertible Notes due 2026 \| Class A common stock \| Common stock warrants
Debt Instrument
Convertible notes converted into warrants	46,000,000
Common stock par value (in dollars per share)	$ 86.08
Cash proceeds from the sale of warrants	$ 376,000,000
DDBS \| 7 3/4% Senior Notes due 2026
Debt Instrument
Interest rate (as a percent)	7.75%		7.75%
DDBS \| 7 3/8% Senior Notes due 2028
Debt Instrument
Interest rate (as a percent)	7.375%		7.375%
DDBS \| 5 1/8 % Senior Notes due 2029
Debt Instrument
Interest rate (as a percent)	5.125%
DDBS \| 5 1/4% Senior Secured Notes due 2026
Debt Instrument
Interest rate (as a percent)	5.25%		5.25%
DDBS \| 5 3/4% Senior Secured Notes due 2028
Debt Instrument
Interest rate (as a percent)	5.75%		5.75%
DDBS \| 5 7/8% Senior Notes due 2024
Debt Instrument
Interest rate (as a percent)	5.875%		5.875%
HSSC \| 6 5/8% Unsecured Senior Notes due 2026
Debt Instrument
Interest rate (as a percent)	6.625%		6.625%
HSSC \| 5 1/4% Senior Secured Notes due 2026
Debt Instrument
Interest rate (as a percent)	5.25%		5.25%
DISH Network \| 2 3/8% Convertible Notes due 2024
Debt Instrument
Interest rate (as a percent)	2.375%	2.375%	2.375%
DISH Network \| 0% Convertible Notes due 2025
Debt Instrument
Interest rate (as a percent)	0.00%
Aggregate principal amount				$ 2,000,000,000.0
Redemption price as a percentage of principal amount	100.00%
DISH Network \| 3 3/8% Convertible Notes due 2026
Debt Instrument
Interest rate (as a percent)	3.375%		3.375%
Aggregate principal amount					$ 3,000,000,000.0
Redemption price as a percentage of principal amount	100.00%
DISH Network \| 11 3/4% Senior Secured Notes due 2027
Debt Instrument
Interest rate (as a percent)	11.75%		11.75%
EchoStar \| 3 3/8% Convertible Notes due 2026 \| Class A common stock \| Common stock warrants
Debt Instrument
Conversion of convertible securities	16,000,000
EchoStar \| 3 3/8% Convertible Notes due 2026 \| Class A common stock \| Common stock warrants \| Maximum \| DISH Network
Debt Instrument
Share price (in dollars per share)	$ 245.33
EchoStar \| 3 3/8% Convertible Notes due 2026 \| Class A common stock \| Common stock warrants \| Minimum \| DISH Network
Debt Instrument
Share price (in dollars per share)	$ 185.75

Revenue Recognition - Activity in Contract Acquisition Costs, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue Recognition
Balance at beginning of period	$ 352,114	$ 460,876
Additions	65,104	95,659
Amortization expense	(94,266)	(112,883)
Foreign currency translation	(139)	452
Balance at end of period	$ 322,813	$ 444,104

Inventory

3 Months Ended

Mar. 31, 2024

Inventory

Inventory

6.	Inventory

Inventory consisted of the following:


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Finished goods	$	473,444	$	512,894
Work-in-process and service repairs		63,309		68,463
Consignment		44,746		56,360
Raw materials		51,453		27,452
Total inventory	$	632,952	$	665,169

Property and Equipment and Intangible Assets - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Depreciation and amortization expense
Depreciation and amortization	$ 485,400	$ 347,754
Equipment leased to customers
Depreciation and amortization expense
Depreciation and amortization	71,767	88,890
Satellites
Depreciation and amortization expense
Depreciation and amortization	75,577	66,204
Buildings, furniture, fixtures, equipment and other
Depreciation and amortization expense
Depreciation and amortization	27,713	24,247
5G Network Deployment equipment
Depreciation and amortization expense
Depreciation and amortization	166,822	61,151
Software and computer equipment
Depreciation and amortization expense
Depreciation and amortization	88,687	52,758
Intangible assets and other amortization expense
Depreciation and amortization expense
Depreciation and amortization	$ 54,834	$ 54,504

Long-Term Debt and Finance Lease Obligations - Intercompany Loan (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) tranche
Debt Instrument
Interest rate (as a percent)	0.25%
Payment to customer	$ 30,000,000
DISH DBS Corporation ("DBS")
Debt Instrument
Interest payment in kind (in percent)	0.75%
Intercompany Loan \| DISH DBS Corporation ("DBS")
Debt Instrument
Additional debt	$ 1,500,000
Minimum interest payment due (in percent)	50.00%
Period After Issuance First Payment In Kind Due	2 years
After Period After Issuance First Interest Payment Due	2 years
Outstanding amount	$ 7,496,000
Number of tranche \| tranche	2
Loan paid	$ 0

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Revenue Recognition
Remaining performance obligation	$ 1,412	$ 1,740
Decrease of customer liability	$ 328
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue Recognition
Remaining performance obligation period	1 year
Remaining performance obligation, percentage	29.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue Recognition
Remaining performance obligation period	1 year
Remaining performance obligation, percentage	71.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable investment securities, restricted cash and other investments
Total current marketable investment securities	$ 152,649	$ 623,044
Total marketable investment securities	183,915	650,884
Restricted cash and cash equivalents	89,713	90,225
Equity method investments	161,657	169,038
Cost method investments	108,333	106,134
Fair value method and other debt investments	39,199	39,198
Total other investment securities, net	309,189	314,370
Total marketable investment securities, restricted cash and cash equivalents, and other investment securities, net	582,817	1,055,479
Current marketable investment securities - strategic - available-for-sale
Marketable investment securities, restricted cash and other investments
Total current marketable investment securities	149	144
Current marketable investment securities - strategic - trading/equity
Marketable investment securities, restricted cash and other investments
Total current marketable investment securities	144,419	176,205
Other investment securities
Marketable investment securities, restricted cash and other investments
Total current marketable investment securities	8,081	446,695
Restricted marketable investment securities
Marketable investment securities, restricted cash and other investments
Total marketable investment securities	$ 31,266	$ 27,840

Property and Equipment and Intangible Assets - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 item	Mar. 31, 2023 USD ($)	Mar. 10, 2024 USD ($)
Property and equipment
Impairment of long-lived assets \| $		$ 3,142
Real estate property in Littleton, Colorado, \| CONX \| EchoStar Real Estate Holding L.L.C.
Property and equipment
Purchase price of property \| $			$ 26,750
Pay-TV
Property and equipment
Number of satellites utilized in geostationary orbit approximately 22,300 miles above the equator	9
Owned satellites	7
Number of satellites leased	2
Broadband and Satellite Services
Property and equipment
Number of satellites utilized in geostationary orbit approximately 22,300 miles above the equator	9
Owned satellites	6
Number of satellites leased	3

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting

Schedule of total assets, revenue and operating income, and purchases of property and equipment, net of refunds by segment


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Total assets:
Pay-TV	$	49,306,211	$	49,437,958
Retail Wireless		750,328		777,957
5G Network Deployment (1)		47,276,901		46,793,378
Broadband and Satellite Services		4,224,153		5,811,553
Eliminations (1)		(46,001,176)		(45,711,952)
Total assets	$	55,556,417	$	57,108,894

(1)	The increase primarily resulted from intercompany advances for capital expenditures related to our 5G Network Deployment.


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Revenue:
Pay-TV	$	2,726,578	$	2,972,131
Retail Wireless		905,850		974,866
5G Network Deployment		29,504		18,907
Broadband and Satellite Services		382,586		439,596
Eliminations		(29,675)		(17,834)
Total revenue	$	4,014,843	$	4,387,666

Operating income (loss):
Pay-TV	$	670,108	$	675,233
Retail Wireless		(74,417)		(18,207)
5G Network Deployment		(570,751)		(333,603)
Broadband and Satellite Services		(39,554)		27,705
Eliminations		(630)		2,210
Total operating income (loss)	$	(15,244)	$	353,338

Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)
Pay-TV	$	57,912	$	35,563
Retail Wireless		—		—
5G Network Deployment		549,173		871,042
Broadband and Satellite Services		70,611		44,071
Eliminations		—		—
Total purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)	$	677,696	$	950,676

Schedule of long-lived assets by geographic region and revenue from external customers disaggregated by major revenue source


	For the Three Months Ended
	March 31,
Category:	2024		2023

	(In thousands)
Pay-TV subscriber and related revenue	$	2,701,179	$	2,944,482
Retail wireless services and related revenue		804,265		867,111
5G network deployment services and related revenue		4		—
Broadband and satellite services and other revenue		317,120		374,522
Pay-TV equipment sales and other revenue		25,399		27,649
Retail wireless equipment sales and other revenue		101,585		107,755
5G network deployment equipment sales and other revenue		29,500		18,907
Broadband equipment and other revenue		65,466		65,074
Eliminations		(29,675)		(17,834)
Total	$	4,014,843	$	4,387,666

Inventory (Tables)

3 Months Ended

Mar. 31, 2024

Inventory

Schedule of inventory


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Finished goods	$	473,444	$	512,894
Work-in-process and service repairs		63,309		68,463
Consignment		44,746		56,360
Raw materials		51,453		27,452
Total inventory	$	632,952	$	665,169

Basic and Diluted Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Basic and Diluted Net Income (Loss) Per Share

Schedule of EPS amounts for all periods and the basic and diluted weighted-average shares outstanding used in the calculation


		For the Three Months Ended
		March 31,
		2024		2023

	(In thousands, except per share amounts)
Net income (loss)		$	(108,375)	$	272,845
Less: Net income (loss) attributable to noncontrolling interests, net of tax			(999)		19,311
Net income (loss) attributable to EchoStar - Basic			(107,376)		253,534
Interest on dilutive Convertible Notes, net of tax (1)			—		—
Net income (loss) attributable to EchoStar - Diluted		$	(107,376)	$	253,534

Weighted-average common shares outstanding - Class A and B common stock:
Basic			271,519		269,833
Dilutive impact of Convertible Notes (2)(3)			—		37,550
Dilutive impact of stock awards outstanding (3)			—		27
Diluted			271,519		307,410

Earnings per share - Class A and B common stock:
Basic net income (loss) per share attributable to EchoStar		$	(0.40)	$	0.94
Diluted net income (loss) per share attributable to EchoStar		$	(0.40)	$	0.82

(1)	For the three months ended March 31, 2023, substantially all of our interest expense was capitalized. See Note 2 for further information.

(2)	We repurchased or redeemed the principal balance of our 2 3/8% Convertible Notes due 2024 as of March 15, 2024, the instrument’s maturity date.

(3)

Schedule of anti-dilutive securities not included in the diluted EPS calculation


	As of March 31,
	2024	2023

	(In thousands)
Anti-dilutive stock awards	11,417	10,849
Performance/market based options	4,556	5,020
Restricted Performance Units/Awards	—	243
Common stock warrants	16,151	16,151
Total	32,124	32,263

Segment Reporting - Revenue from External Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting
Revenues	$ 4,014,843	$ 4,387,666
All other \| Equipment sales and other revenue
Segment Reporting
Eliminations	(29,675)	(17,834)
Pay-TV \| Pay-TV subscriber and related revenue
Segment Reporting
Revenues	2,701,179	2,944,482
Pay-TV \| Equipment sales and other revenue
Segment Reporting
Revenues	25,399	27,649
Retail Wireless \| Wireless services and related revenue
Segment Reporting
Revenues	804,265	867,111
Retail Wireless \| Equipment sales and other revenue
Segment Reporting
Revenues	101,585	107,755
5G Network Deployment \| network deployment services and related revenue
Segment Reporting
Revenues	4
5G Network Deployment \| Equipment sales and other revenue
Segment Reporting
Revenues	29,500	18,907
Broadband and satellite services \| Broadband and satellite services and other revenue
Segment Reporting
Revenues	317,120	374,522
Broadband and satellite services \| Equipment sales and other revenue
Segment Reporting
Revenues	$ 65,466	$ 65,074

Property and Equipment and Intangible Assets

3 Months Ended

Mar. 31, 2024

Property and Equipment and Intangible Assets

Property and Equipment and Intangible Assets

7.	Property and Equipment and Intangible Assets

Property and Equipment

Property and equipment consisted of the following:


	Depreciable			As of
	Life			March 31,		December 31,
	(In Years)			2024		2023

				(In thousands)
Equipment leased to customers	2	-	5	$	1,909,842	$	1,977,450
Satellites (1)	5	-	15		3,880,725		4,168,766
Satellites acquired under finance lease agreements		15			709,504		712,832
Furniture, fixtures, equipment and other	1	-	20		1,693,151		1,691,389
5G Network Deployment equipment (2)	3	-	15		4,475,376		4,263,327
Software and computer equipment	2	-	6		2,632,917		2,503,597
Buildings and improvements	1	-	40		543,860		538,815
Land		-			46,149		46,675
Construction in progress		-			1,859,790		1,844,338
Total property and equipment					17,751,314		17,747,189
Accumulated depreciation					(8,161,881)		(8,185,355)
Property and equipment, net				$	9,589,433	$	9,561,834

(1)	The Spaceway 3 satellite was deorbited in January 2024.

(2)	Includes 5G Network Deployment assets acquired under finance lease agreements.

Depreciation and amortization expense consisted of the following:


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Equipment leased to customers	$	71,767	$	88,890
Satellites		75,577		66,204
Buildings, furniture, fixtures, equipment and other		27,713		24,247
5G Network Deployment equipment		166,822		61,151
Software and computer equipment		88,687		52,758
Intangible assets and other amortization expense		54,834		54,504
Total depreciation and amortization	$	485,400	$	347,754

Cost of sales and operating expense categories included in our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) do not include depreciation and amortization expense related to satellites, equipment leased to customers, or our 5G Network Deployment equipment and software, and amortization of development costs of externally marketed software.

Activity relating to our asset retirement obligations was as follows:



	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Balance at beginning of period	$	278,287	$	183,135
Liabilities incurred		4,308		31,554
Accretion expense		6,464		4,106
Revision to estimated cash flows		—		—
Balance at end of period	$	289,059	$	218,795

Total included in Other long-term liabilities	$	289,059	$	218,795

The corresponding assets, net of accumulated depreciation, related to asset retirement obligations were $216 million and $217 million as of March 31, 2024 and December 31, 2023, respectively.

Satellites Pay-TV Segment

Our Pay-TV segment currently utilizes nine satellites in geostationary orbit approximately 22,300 miles above the equator, seven of which we own and depreciate over their estimated useful life. We also lease two satellites from third parties: Anik F3, which is accounted for as an operating lease, and Nimiq 5, which is accounted for as a finance lease and is depreciated over its economic life.

As of March 31, 2024, our Pay-TV segment satellite fleet in service consisted of the following:


		Degree	Lease
	Launch	Orbital	Termination
Satellites	Date	Location	Date
Owned:
EchoStar X	February 2006	110	N/A
EchoStar XI	July 2008	110	N/A
EchoStar XIV	March 2010	119	N/A
EchoStar XV	July 2010	61.5	N/A
EchoStar XVI	November 2012	61.5	N/A
EchoStar XVIII	June 2016	61.5	N/A
EchoStar XXIII	March 2017	110	N/A

Under Construction:
EchoStar XXV	2026	110	N/A

Leased from Other Third-Party:
Anik F3	April 2007	118.7	April 2025
Nimiq 5	September 2009	72.7	September 2024

Satellite Under Construction

EchoStar XXV. On March 20, 2023, we entered into a contract with Maxar Space LLC for the construction of EchoStar XXV, a DBS satellite that is capable of providing service to the continental United States (“CONUS”) and is intended to be used at the 110 degree orbital location. During the fourth quarter of 2023, we entered into an agreement with Space Exploration Technologies Corp (“SpaceX”) for launch services for this satellite, which is expected to be launched during 2026.

Satellites - Broadband and Satellite Services Segment

Our Broadband and Satellite Services segment currently utilizes nine satellites in geostationary orbit approximately 22,300 miles above the equator, six of which we own and depreciate over their estimated useful life. We also lease three satellites from third parties, which are accounted for as finance leases and are depreciated over their economic life.

As of March 31, 2024, our Broadband and Satellite Services segment satellite fleet in service consisted of the following:


		Degree	Lease
	Launch	Orbital	Termination
Satellites	Date	Location	Date
Owned:
EchoStar IX	August 2003	121	N/A
EchoStar XVII	July 2012	107	N/A
EchoStar XIX	December 2016	97.1	N/A
EchoStar XXI	June 2017	10.25	N/A
Al Yah 3	January 2018	20	N/A
EchoStar XXIV	July 2023	95.2	N/A

Leased from Other Third-Party:
Eutelsat 65 West A	March 2016	65	July 2031
Telesat T19V	July 2018	63	August 2033
EchoStar 105/SES-11	October 2017	105	November 2028

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transactions
Amounts receivable related party	$ 1,023,089		$ 1,122,139
Amounts payable to related party	$ 573,299		774,011
TerreStar Solutions, Inc
Related Party Transactions
Ownership interest (as a percent)	40.00%
Deluxe/EchoStar LLC
Related Party Transactions
Ownership interest (as a percent)	50.00%
Hughes Systique
Related Party Transactions
Ownership interest (as a percent)	42.00%
Purchases from related party	$ 4,596
Amounts payable to related party	$ 1,483		1,704
NagraStar L.L.C.
Related Party Transactions
Ownership interest (as a percent)	50.00%
Purchases from related party	$ 8,602	$ 9,545
Amounts payable to related party	6,452		9,821
Commitments to related party	$ 1,177		$ 1,727

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory
Finished goods	$ 473,444	$ 512,894
Work-in-process and service repairs	63,309	68,463
Consignment	44,746	56,360
Raw materials	51,453	27,452
Total inventory	$ 632,952	$ 665,169

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands			3 Months Ended
	Feb. 16, 2024	Oct. 12, 2023	Mar. 31, 2024	Mar. 31, 2023
Accounting policy disclosures
Cost of sales - equipment and other			$ 363,083	$ 520,060
Interest expense, net of amounts capitalized			99,408	20,033
Advertising expenses			164,000	173,000
Research and Development
Research and development cost			25,000	28,000
SNR HoldCo
Accounting policy disclosures
Purchase of ownership interests	$ 442,000
5G Network Development
Accounting policy disclosures
Cost of sales - equipment and other				$ 183,000
Interest expense, net of amounts capitalized			$ 88,000
Northstar
Accounting policy disclosures
Purchase of ownership interests		$ 109,000

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2024

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidation

Redeemable Noncontrolling Interests

For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.

Use of Estimates

Capitalized Interest

Fair Value Measurements

●

Level 1, defined as observable inputs being quoted prices in active markets for identical assets;

●

Assets Recognized Related to the Costs to Obtain a Contract with a Customer

Advertising Costs

Research and Development

New Accounting Pronouncements

Income Taxes. On December 14, 2023, the FASB issued ASU 2023-9, Income Taxes (Topic 740):

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

3 Months Ended

Mar. 31, 2024

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

5.	Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

Our marketable investment securities, restricted cash and cash equivalents, and other investments consisted of the following:


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Marketable investment securities:
Current marketable investment securities:
Strategic - available-for-sale	$	149	$	144
Strategic - trading/equity		144,419		176,205
Other		8,081		446,695
Total current marketable investment securities		152,649		623,044
Restricted marketable investment securities (1)		31,266		27,840
Total marketable investment securities		183,915		650,884

Restricted cash and cash equivalents (1)		89,713		90,225

Other investments, net:
Equity method investments		161,657		169,038
Cost method investments		108,333		106,134
Fair value method and other debt investments		39,199		39,198
Total other investment securities, net		309,189		314,370

Total marketable investment securities, restricted cash and cash equivalents, and other investment securities, net	$	582,817	$	1,055,479

(1)	Restricted marketable investment securities and restricted cash and cash equivalents are included in “Restricted cash, cash equivalents and marketable investment securities” on our Condensed Consolidated Balance Sheets.

Marketable Investment Securities

Our marketable investment securities portfolio may consist of debt and equity instruments. All equity securities are carried at fair value, with changes in fair value recognized in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). All debt securities are classified as available-for-sale and are recorded at fair value. We report the temporary unrealized gains and losses related to changes in market conditions of marketable debt securities as a separate component of “Accumulated other comprehensive income (loss)” within “Stockholders’ Equity (Deficit),” net of related deferred income tax on our Condensed Consolidated Balance Sheets. The corresponding changes in the fair value of marketable debt securities, which are determined to be company specific credit losses are recorded in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See Note 2 for further information.

Current Marketable Investment Securities – Strategic

Our current strategic marketable investment securities portfolio includes and may include strategic and financial debt and/or equity investments in private and public companies that are highly speculative and have experienced and continue to experience volatility. As of March 31, 2024, this portfolio consisted of securities of a small number of issuers, and as a result the value of that portfolio depends, among other things, on the performance of those issuers. The fair value of certain of the debt and equity securities in this portfolio can be adversely impacted by, among other things, the issuers’ respective performance and ability to obtain any necessary additional financing on acceptable terms, or at all.

Current Marketable Investment Securities – Other

Our current other marketable investment securities portfolio includes investments in various debt instruments including, among others, commercial paper, corporate securities and United States treasury and/or agency securities. Commercial paper consists mainly of unsecured short-term, promissory notes issued primarily by corporations with maturities ranging up to 365 days. Corporate securities consist of debt instruments issued by corporations with various maturities normally less than 18 months. U.S. Treasury and agency securities consist of debt instruments issued by the federal government and other government agencies.

Restricted Cash, Cash Equivalents and Marketable Investment Securities

As of March 31, 2024 and December 31, 2023, our restricted marketable investment securities, together with our restricted cash and cash equivalents, included amounts required as collateral for our letters of credit and trusts.

Other Investments, net

We have strategic investments in certain debt and/or equity securities that are included in noncurrent “Other investments, net” on our Condensed Consolidated Balance Sheets. Our debt securities are classified as available-for-sale and are recorded at fair value. Generally, our debt investments in non-publicly traded debt instruments without a readily determinable fair value are recorded at amortized cost. Our equity investments where we have the ability to exercise significant influence over the investee are accounted for using the equity method of accounting. Certain of our equity method investments are detailed below.

NagraStar L.L.C. We own a 50% interest in NagraStar L.L.C. (“NagraStar”), a joint venture that is our primary provider of encryption and related security systems intended to assure that only authorized customers have access to our programming. The three main technologies NagraStar provides to its customers are microchips, set-top box software and uplink computer systems. NagraStar also provides end-to-end platform security testing services.

Invidi Technologies Corporation. We own a 35% interest in Invidi Technologies Corporation (“Invidi”), an entity that provides proprietary software for the addressable advertising market. Invidi contracts with multichannel video programming distributers to include its software in their respective set-top boxes and DVRs in order to deliver targeted advertisements based on a variety of demographic attributes selected by the advertisers. Invidi has also developed a cloud-based solution for internet protocol-based platforms.

TerreStar Solutions, Inc. We own a 40% interest in TerreStar Solutions, Inc. (“TSI”), an entity that provides wireless mobile communication coverage in Canada using a satellite user terminal. TSI’s wireless communications system is based on a satellite and ground-based technology, which provides communication services in hard-to-reach areas and provides a nationwide interoperable, survivable and critical communications infrastructure. TSI also holds and leases certain 2 GHz wireless spectrum licenses in Canada.

Deluxe/EchoStar LLC. We own 50% of Deluxe/EchoStar LLC (“Deluxe”), a joint venture that we entered into in 2010 to build an advanced digital cinema satellite distribution network targeting delivery to digitally equipped theaters in the U.S. and Canada.

Broadband Connectivity Solutions (Restricted) Limited. We own 20% of Broadband Connectivity Solutions (Restricted) Limited (together with its subsidiaries, “BCS”), a joint venture that we entered into in 2018 to provide commercial Ka-band satellite broadband services across Africa, the Middle East and southwest Asia operating over Yahsat’s Al Yah 2 and Al Yah 3 Ka-band satellites.

We also hold investments that are not accounted for using the equity method of accounting, which are measured at fair value. Investments in equity securities without readily determinable fair values are accounted for at cost, less impairment and adjusted for observable price changes for identical or similar investments of the same issuer.

Our ability to realize value from our strategic investments in securities that are not publicly traded depends on, among other things, the success of the issuers’ businesses and their ability to obtain sufficient capital, on acceptable terms or at all, and to execute their business plans. Because private markets are not as liquid as public markets, there is also increased risk that we will not be able to sell these investments, or that when we desire to sell them we will not be able to obtain fair value for them.

Fair Value Measurements

Our investments measured at fair value on a recurring basis were as follows:


	As of
	March 31, 2024								December 31, 2023
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3

	(In thousands)
Cash equivalents (including restricted)	$	356,899	$	125,445	$	231,454	$	—	$	1,692,849	$	573,504	$	1,119,345	$	—

Debt securities (including restricted):
U.S. Treasury and agency securities	$	17,910	$	17,910	$	—	$	—	$	65,172	$	65,172	$	—	$	—
Commercial paper		6,100		—		6,100		—		290,398		—		290,398		—
Corporate securities		15,032		—		15,032		—		114,265		—		114,265		—
Other		454		—		305		149		4,844		—		4,700		144
Equity securities		144,419		134,689		9,730		—		176,205		166,481		9,724		—
Total	$	183,915	$	152,599	$	31,167	$	149	$	650,884	$	231,653	$	419,087	$	144

As of March 31, 2024, restricted and non-restricted marketable investment securities included debt securities of $39 million with contractual maturities within one year. Actual maturities may differ from contractual maturities as a result of our ability to sell these securities prior to maturity.

Derivative Instruments

We had the option to purchase certain of T-Mobile’s 800 MHz spectrum licenses from T-Mobile at a fixed price pursuant to the License Purchase Agreement, as defined and detailed in our Annual Report on Form 10-K for the year ended December 31, 2023. This instrument met the definition of a derivative and was valued based upon, among other things, our estimate of the underlying asset price, the expected term, volatility, the risk free rate of return and the probability of us exercising the option. As of March 31, 2024 and December 31, 2023, the derivative’s fair value was zero on our Condensed Consolidated Balance Sheets. All changes in the derivative’s fair value were recorded in “Other, net” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See the table below. We did not exercise the option to purchase the 800 MHz spectrum licenses pursuant to the License Purchase Agreement, which expired on its own terms on April 1, 2024. As a result, the Amended Final Judgment, as defined and detailed in our Annual Report on Form 10-K for the year ended December 31, 2023, requires T-Mobile to auction the spectrum licenses. We expected to take part in this auction, but T-Mobile has unilaterally barred our participation.

We accounted for our option to purchase certain T-Mobile’s 800 MHz spectrum licenses under the License Purchase Agreement as a Level 3 instrument within the fair value hierarchy.

Gains and Losses on Sales and Changes in Carrying Amounts of Investments and Other

“Other, net” within “Other Income (Expense)” included on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) is as follows:


	For the Three Months Ended
	March 31,
Other, net:	2024		2023

	(In thousands)
Marketable and non-marketable investment securities - realized and unrealized gains (losses)	$	(23,893)	$	(7,417)
Derivative instruments - net realized and/or unrealized gains (losses)		—		(28,961)
Gains (losses) related to early redemption of debt		—		49
Foreign currency transaction gains (losses)		(627)		3,172
Equity in earnings (losses) of affiliates		(2,786)		(2,002)
Other		1,196		398
Total	$	(26,110)	$	(34,761)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows From Operating Activities:
Net income (loss)	$ (108,375)	$ 272,845
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	485,400	347,754
Impairment of long-lived assets and goodwill		3,142
Realized and unrealized losses (gains) on investments, impairments and other	23,893	7,368
Realized and unrealized losses (gains) on derivatives		28,961
Non-cash, stock-based compensation	9,058	14,628
Deferred tax expense (benefit)	(11,688)	77,265
Changes in allowance for credit losses	10,516	1,004
Change in long-term deferred revenue and other long-term liabilities	(3,871)	(8,027)
Other, net	64,914	34,380
Changes in current assets and current liabilities, net	(18,588)	10,627
Net cash flows from operating activities	451,259	789,947
Cash Flows From Investing Activities:
Purchases of marketable investment securities	(19,135)	(606,676)
Sales and maturities of marketable investment securities	458,792	1,372,198
Purchases of property and equipment	(519,612)	(766,281)
Refunds and other receipts of purchases of property and equipment		15,000
Capitalized interest related to regulatory authorizations (Note 2)	(158,084)	(199,395)
Purchases of regulatory authorizations, including deposits	(1,104)	(1,771)
Other, net	998	(17,933)
Net cash flows from investing activities	(238,145)	(204,858)
Cash Flows From Financing Activities:
Repayment of long-term debt and finance lease obligations	(27,125)	(27,255)
Redemption and repurchases of convertible and senior notes	(951,168)	(1,443,179)
Proceeds from issuance of senior notes		1,500,000
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan	(160)	3,967
Purchase of SNR Management's ownership interest in SNR HoldCo	(441,998)
Proceeds from accrued interest in conjunction with the issuance of senior notes		34,760
Debt issuance costs and debt (discount) premium		21,635
Other, net		(5,073)
Net cash flows from financing activities	(1,420,451)	84,855
Effect of exchange rates on cash and cash equivalents	(849)	1,677
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents	(1,208,186)	671,621
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 5)	1,911,601	2,561,803
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 5)	$ 703,415	$ 3,233,424

Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases

Components of Lease Expense


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Operating lease cost (1)	$	167,006	$	117,556

Short-term lease cost (2)		1,023		1,279

Finance lease cost:
Amortization of right-of-use assets		18,468		34,197
Interest on lease liabilities		2,792		3,570
Total finance lease cost		21,260		37,767
Total lease costs	$	189,289	$	156,602

(1)	The increase in operating lease cost is primarily related to communication tower leases.

(2)	Leases that have terms of 12 months or less.

Summary of Supplemental cash flow information related to leases


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	118,408	$	73,613
Operating cash flows from finance leases	$	2,824	$	2,397
Financing cash flows from finance leases	$	15,134	$	8,713

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	199,300	$	231,868
Finance leases	$	—	$	51,110

Summary of supplemental balance sheet information related to leases


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Operating Leases:
Operating lease assets	$	3,092,070	$	3,065,448

Other current liabilities	$	341,257	$	317,395
Operating lease liabilities		3,157,720		3,121,307
Total operating lease liabilities	$	3,498,977	$	3,438,702

Finance Leases:
Property and equipment, gross	$	830,606	$	833,933
Accumulated depreciation		(538,300)		(520,344)
Property and equipment, net	$	292,306	$	313,589

Other current liabilities	$	48,391	$	56,459
Other long-term liabilities		60,133		67,199
Total finance lease liabilities	$	108,524	$	123,658

Weighted Average Remaining Lease Term:
Operating leases		10.0 years		10.6 years
Finance leases		2.1 years		2.2 years

Weighted Average Discount Rate:
Operating leases		9.9%		9.5%
Finance leases		9.6%		9.7%

Summary of Maturities of lease liabilities


	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total

	(In thousands)
2024 (remaining nine months)	$	350,672	$	48,115	$	398,787
2025		499,361		35,392		534,753
2026		531,049		36,588		567,637
2027		531,138		2,574		533,712
2028		487,494		—		487,494
Thereafter		3,269,111		—		3,269,111
Total lease payments		5,668,825		122,669		5,791,494
Less: Imputed interest		(2,169,848)		(14,145)		(2,183,993)
Total		3,498,977		108,524		3,607,501
Less: Current portion		(341,257)		(48,391)		(389,648)
Long-term portion of lease obligations	$	3,157,720	$	60,133	$	3,217,853

Schedule of Lease Revenue


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Lease revenue:
Sales-type lease revenue	$	1,084	$	4,201
Operating lease revenue		5,654		11,187
Total lease revenue	$	6,738	$	15,388

Schedule of Operating Lease Payments to be Received


For the Years Ending December 31,	Total
	(In thousands)
2024 (remaining nine months)	$	6,415
2025		4,953
2026		3,567
2027		3,488
2028		672
Thereafter		177
Total lease payments to be received	$	19,272

Long-Term Debt and Finance Lease Obligations (Tables)

3 Months Ended

Mar. 31, 2024

Long-Term Debt and Finance Lease Obligations

Schedule of carrying amount and fair value of our debt facilities


		As of
		March 31, 2024				December 31, 2023
	Issuer	Carrying Amount		Fair Value		Carrying Amount		Fair Value

		(In thousands)
2 3/8% Convertible Notes due 2024 (1)	DISH	$	—	$	—	$	951,168	$	944,034
5 7/8% Senior Notes due 2024	DDBS		1,982,544		1,905,621		1,982,544		1,872,275
0% Convertible Notes due 2025	DISH		1,957,197		1,418,968		1,957,197		1,228,141
7 3/4% Senior Notes due 2026	DDBS		2,000,000		1,390,000		2,000,000		1,388,060
5 1/4% Senior Secured Notes due 2026	HSSC		750,000		625,200		750,000		665,678
6 5/8% Senior Notes due 2026	HSSC		750,000		445,875		750,000		591,525
3 3/8% Convertible Notes due 2026	DISH		2,908,801		1,830,799		2,908,801		1,570,753
5 1/4% Senior Secured Notes due 2026	DDBS		2,750,000		2,158,750		2,750,000		2,366,073
11 3/4% Senior Secured Notes due 2027	DISH		3,500,000		3,578,750		3,500,000		3,668,980
7 3/8% Senior Notes due 2028	DDBS		1,000,000		489,200		1,000,000		600,160
5 3/4% Senior Secured Notes due 2028	DDBS		2,500,000		1,718,750		2,500,000		2,013,125
5 1/8% Senior Notes due 2029	DDBS		1,500,000		629,250		1,500,000		774,600
Other notes payable			146,513		146,513		160,158		160,158
Subtotal			21,745,055	$	16,337,676		22,709,868	$	17,843,562
Unamortized deferred financing costs and other debt discounts, net			(66,115)				(69,606)
Finance lease obligations (2)			108,524				123,658
Total long-term debt and finance lease obligations (including current portion)		$	21,787,464			$	22,763,920

(1)	We repurchased or redeemed the principal balance of our 2 3/8% Convertible Notes due 2024 as of March 15, 2024, the instrument’s maturity date.

(2)	Disclosure regarding fair value of finance leases is not required.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 69B
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Basic and Diluted Net Income (Loss) Per Share - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	Apr. 01, 2024 USD ($) employee $ / shares shares	Mar. 31, 2024 $ / shares
Antidilutive securities excluded from computation of earnings per share
Exchange in Period \| shares	7
Number of Eligible Employees Eligible For Exhange Offer \| employee	1,000
Exercise price \| shares	6
Share-based payment arrangement	$ 14.04
Total incremental non-cash stock-based compensation expense \| $	$ 15
Maximum \| Class A common stock
Antidilutive securities excluded from computation of earnings per share
Exercise price of warrants		$ 245.33
Minimum \| Class A common stock
Antidilutive securities excluded from computation of earnings per share
Exercise price of warrants		$ 185.75

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments - Narrative (Details)	3 Months Ended
	Mar. 31, 2024
NagraStar
Other investments, net:
Ownership interest (as a percent)	50.00%
Invidi Technologies Corporation
Other investments, net:
Ownership interest (as a percent)	35.00%
TerreStar Solutions, Inc
Other investments, net:
Ownership interest (as a percent)	40.00%
Deluxe/EchoStar LLC
Other investments, net:
Ownership interest (as a percent)	50.00%
Broadband connectivity solutions
Other investments, net:
Ownership interest (as a percent)	20.00%
Commercial paper \| Maximum
Other investments, net:
Debt term of Maturity	365 days
Corporate securities \| Maximum
Other investments, net:
Debt term of Maturity	18 months

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Class A and B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Earnings (Deficit)	Noncontrolling Interests	Redeemable Noncontrolling Interests	Total
Balance at Dec. 31, 2022	$ 269	$ 8,222,599	$ (175,267)	$ 13,440,040	$ 98,192	$ 464,359	$ 21,585,833
Issuance of Class A common stock:
Exercise of stock awards		(385)					(385)
Employee benefits	1	5,420					5,421
Employee Stock Purchase Plan		4,352					4,352
Non-cash, stock-based compensation		14,628					14,628
Other comprehensive income (loss):			5,788		1,969		7,757
Net income (loss) attributable to noncontrolling interests					(1,094)	20,405	(1,094)
Net income (loss) attributable to EchoStar				253,534			253,534
Balance at Mar. 31, 2023	270	8,246,614	(169,479)	13,693,574	99,067	484,764	21,870,046
Balance at Dec. 31, 2023	271	8,301,979	(160,056)	11,737,983	69,733	438,382	19,949,910
Issuance of Class A common stock:
Exercise of stock awards		(160)					(160)
Non-cash, stock-based compensation		9,058					9,058
Other comprehensive income (loss):			(4,548)		(1,119)		(5,667)
Purchase of SNR Management's ownership interest in SNR HoldCo						(441,998)
Net income (loss) attributable to noncontrolling interests					(4,615)	$ 3,616	(4,615)
Net income (loss) attributable to EchoStar				(107,376)			(107,376)
Balance at Mar. 31, 2024	$ 271	$ 8,310,877	$ (164,604)	$ 11,630,607	$ 63,999		$ 19,841,150

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2024

Hughes Systique

Schedule of transactions with related party


	For the Three Months Ended
	March 31, 2024
	(In thousands)
Purchases:
Purchases from Hughes Systique	$	4,596

	As of
	March 31, 2024		December 31, 2023

	(In thousands)
Amounts Payable:
Amounts payable to Hughes Systique	$	1,483	$	1,704

NagraStar L.L.C.

Schedule of transactions with related party


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Purchases (including fees):
Purchases from NagraStar	$	8,602	$	9,545

	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Amounts Payable and Commitments:
Amounts payable to NagraStar	$	6,452	$	9,821
Commitments to NagraStar	$	1,177	$	1,727

Segment Reporting

3 Months Ended

Mar. 31, 2024

Segment Reporting

Segment Reporting

11.Segment Reporting

Operating segments are components of an enterprise for which separate financial information is available and regularly evaluated by the chief operating decision maker(s) of an enterprise. Operating income is the primary measure used by our chief operating decision maker to evaluate segment operating performance. We currently operate four primary business segments: (1) Pay-TV; (2) Retail Wireless; (3) 5G Network Deployment; and (4) Broadband and Satellite Services. See Note 1 for further information.

All other and eliminations primarily include intersegment eliminations related to intercompany debt and the related interest income and interest expense, which are eliminated in consolidation.

The total assets, revenue and operating income, and purchases of property and equipment, net of refunds, (including capitalized interest related to Regulatory authorizations) by segment were as follows:


	As of
	March 31,		December 31,
	2024		2023

	(In thousands)
Total assets:
Pay-TV	$	49,306,211	$	49,437,958
Retail Wireless		750,328		777,957
5G Network Deployment (1)		47,276,901		46,793,378
Broadband and Satellite Services		4,224,153		5,811,553
Eliminations (1)		(46,001,176)		(45,711,952)
Total assets	$	55,556,417	$	57,108,894

(1)	The increase primarily resulted from intercompany advances for capital expenditures related to our 5G Network Deployment.


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Revenue:
Pay-TV	$	2,726,578	$	2,972,131
Retail Wireless		905,850		974,866
5G Network Deployment		29,504		18,907
Broadband and Satellite Services		382,586		439,596
Eliminations		(29,675)		(17,834)
Total revenue	$	4,014,843	$	4,387,666

Operating income (loss):
Pay-TV	$	670,108	$	675,233
Retail Wireless		(74,417)		(18,207)
5G Network Deployment		(570,751)		(333,603)
Broadband and Satellite Services		(39,554)		27,705
Eliminations		(630)		2,210
Total operating income (loss)	$	(15,244)	$	353,338

Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)
Pay-TV	$	57,912	$	35,563
Retail Wireless		—		—
5G Network Deployment		549,173		871,042
Broadband and Satellite Services		70,611		44,071
Eliminations		—		—
Total purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)	$	677,696	$	950,676

The revenue from external customers disaggregated by major revenue source was as follows:


	For the Three Months Ended
	March 31,
Category:	2024		2023

	(In thousands)
Pay-TV subscriber and related revenue	$	2,701,179	$	2,944,482
Retail wireless services and related revenue		804,265		867,111
5G network deployment services and related revenue		4		—
Broadband and satellite services and other revenue		317,120		374,522
Pay-TV equipment sales and other revenue		25,399		27,649
Retail wireless equipment sales and other revenue		101,585		107,755
5G network deployment equipment sales and other revenue		29,500		18,907
Broadband equipment and other revenue		65,466		65,074
Eliminations		(29,675)		(17,834)
Total	$	4,014,843	$	4,387,666

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Segment Reporting - Total assets by Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting
Total assets	$ 55,556,417	$ 57,108,894
Operating segment \| Pay-TV
Segment Reporting
Total assets	49,306,211	49,437,958
Operating segment \| Retail Wireless
Segment Reporting
Total assets	750,328	777,957
Operating segment \| 5G Network Deployment
Segment Reporting
Total assets	47,276,901	46,793,378
Operating segment \| Broadband and Satellite Services
Segment Reporting
Total assets	4,224,153	5,811,553
Operating segment \| Eliminations
Segment Reporting
Total assets	$ (46,001,176)	$ (45,711,952)

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

Segment Reporting (Details)	3 Months Ended
Segment Reporting (Details)	Mar. 31, 2024 segment
Segment Reporting
Number of primary operating business segments	4

Property and Equipment and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2024	Dec. 31, 2023
Property and equipment
Total property and equipment		$ 17,751,314	$ 17,747,189
Accumulated depreciation		(8,161,881)	(8,185,355)
Property and equipment, net		9,589,433	9,561,834
Non-cash impairment charge	$ 3,142
Equipment leased to customers
Property and equipment
Total property and equipment		$ 1,909,842	$ 1,977,450
Equipment leased to customers \| Minimum
Property and equipment
Depreciable Life		2 years	2 years
Equipment leased to customers \| Maximum
Property and equipment
Depreciable Life		5 years	5 years
Satellites
Property and equipment
Total property and equipment		$ 3,880,725	$ 4,168,766
Satellites \| Minimum
Property and equipment
Depreciable Life		5 years	5 years
Satellites \| Maximum
Property and equipment
Depreciable Life		15 years	15 years
Satellites acquired under finance lease agreements
Property and equipment
Depreciable Life		15 years	15 years
Total property and equipment		$ 709,504	$ 712,832
Furniture, fixtures, equipment and other
Property and equipment
Total property and equipment		$ 1,693,151	$ 1,691,389
Furniture, fixtures, equipment and other \| Minimum
Property and equipment
Depreciable Life		1 year	1 year
Furniture, fixtures, equipment and other \| Maximum
Property and equipment
Depreciable Life		20 years	20 years
5G Network Deployment equipment
Property and equipment
Total property and equipment		$ 4,475,376	$ 4,263,327
5G Network Deployment equipment \| Minimum
Property and equipment
Depreciable Life		3 years	3 years
5G Network Deployment equipment \| Maximum
Property and equipment
Depreciable Life		15 years	15 years
Software and computer equipment
Property and equipment
Total property and equipment		$ 2,632,917	$ 2,503,597
Software and computer equipment \| Minimum
Property and equipment
Depreciable Life		2 years	2 years
Software and computer equipment \| Maximum
Property and equipment
Depreciable Life		6 years	6 years
Buildings and improvements
Property and equipment
Total property and equipment		$ 543,860	$ 538,815
Buildings and improvements \| Minimum
Property and equipment
Depreciable Life		1 year	1 year
Buildings and improvements \| Maximum
Property and equipment
Depreciable Life		40 years	40 years
Land
Property and equipment
Total property and equipment		$ 46,149	$ 46,675
Construction in progress
Property and equipment
Total property and equipment		$ 1,859,790	$ 1,844,338

Supplemental Data - Statements of Cash Flows

3 Months Ended

Mar. 31, 2024

Supplemental Data - Statements of Cash Flows

Supplemental Data - Statements of Cash Flows

4.	Supplemental Data - Statements of Cash Flows

The following table presents certain supplemental cash flow and other non-cash data. See Note 8 for supplemental cash flow and non-cash data related to leases.


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Cash paid for interest (including capitalized interest)	$	230,581	$	270,460
Cash received for interest		31,732		21,872
Cash paid for income taxes, net of (refunds)		(41,115)		502
Capitalized interest (1)		258,367		337,094
Employee benefits paid in Class A common stock		—		5,421
Vendor financing		—		54,774
Accrued capital expenditures		164,693		511,453
Asset retirement obligation		4,308		31,554

(1)	See Note 2 for further information.

Property and Equipment and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of property and equipment


	Depreciable			As of
	Life			March 31,		December 31,
	(In Years)			2024		2023

				(In thousands)
Equipment leased to customers	2	-	5	$	1,909,842	$	1,977,450
Satellites (1)	5	-	15		3,880,725		4,168,766
Satellites acquired under finance lease agreements		15			709,504		712,832
Furniture, fixtures, equipment and other	1	-	20		1,693,151		1,691,389
5G Network Deployment equipment (2)	3	-	15		4,475,376		4,263,327
Software and computer equipment	2	-	6		2,632,917		2,503,597
Buildings and improvements	1	-	40		543,860		538,815
Land		-			46,149		46,675
Construction in progress		-			1,859,790		1,844,338
Total property and equipment					17,751,314		17,747,189
Accumulated depreciation					(8,161,881)		(8,185,355)
Property and equipment, net				$	9,589,433	$	9,561,834

(1)	The Spaceway 3 satellite was deorbited in January 2024.

(2)	Includes 5G Network Deployment assets acquired under finance lease agreements.

Schedule of depreciation and amortization expense


	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Equipment leased to customers	$	71,767	$	88,890
Satellites		75,577		66,204
Buildings, furniture, fixtures, equipment and other		27,713		24,247
5G Network Deployment equipment		166,822		61,151
Software and computer equipment		88,687		52,758
Intangible assets and other amortization expense		54,834		54,504
Total depreciation and amortization	$	485,400	$	347,754

Schedule of asset retirement obligations



	For the Three Months Ended
	March 31,
	2024		2023

	(In thousands)
Balance at beginning of period	$	278,287	$	183,135
Liabilities incurred		4,308		31,554
Accretion expense		6,464		4,106
Revision to estimated cash flows		—		—
Balance at end of period	$	289,059	$	218,795

Total included in Other long-term liabilities	$	289,059	$	218,795

Pay-TV

Schedule Of satellites


		Degree	Lease
	Launch	Orbital	Termination
Satellites	Date	Location	Date
Owned:
EchoStar X	February 2006	110	N/A
EchoStar XI	July 2008	110	N/A
EchoStar XIV	March 2010	119	N/A
EchoStar XV	July 2010	61.5	N/A
EchoStar XVI	November 2012	61.5	N/A
EchoStar XVIII	June 2016	61.5	N/A
EchoStar XXIII	March 2017	110	N/A

Under Construction:
EchoStar XXV	2026	110	N/A

Leased from Other Third-Party:
Anik F3	April 2007	118.7	April 2025
Nimiq 5	September 2009	72.7	September 2024

Broadband and Satellite Services

Schedule Of satellites


		Degree	Lease
	Launch	Orbital	Termination
Satellites	Date	Location	Date
Owned:
EchoStar IX	August 2003	121	N/A
EchoStar XVII	July 2012	107	N/A
EchoStar XIX	December 2016	97.1	N/A
EchoStar XXI	June 2017	10.25	N/A
Al Yah 3	January 2018	20	N/A
EchoStar XXIV	July 2023	95.2	N/A

Leased from Other Third-Party:
Eutelsat 65 West A	March 2016	65	July 2031
Telesat T19V	July 2018	63	August 2033
EchoStar 105/SES-11	October 2017	105	November 2028

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 29, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-33807
Entity Registrant Name	EchoStar Corporation
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	26-1232727
Entity Address, Address Line One	9601 South Meridian Boulevard
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	(303)
Local Phone Number	723-1000
Title of 12(b) Security	Class A common stock, $0.001 par value
Trading Symbol	SATS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001415404
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		140,173,977
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		131,348,468

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases
Operating cash flows from operating leases	$ 118,408	$ 73,613
Operating cash flows from finance leases	2,824	2,397
Financing cash flows from finance leases	15,134	8,713
Right-of-use assets obtained in exchange for lease obligations: Operating leases	$ 199,300	231,868
Right-of-use assets obtained in exchange for lease obligations: Finance leases		$ 51,110

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases
Operating lease assets	$ 3,092,070	$ 3,065,448
Other current liabilities	$ 341,257	$ 317,395
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Operating lease liabilities	$ 3,157,720	$ 3,121,307
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Operating lease liabilities	Operating lease liabilities
Total	$ 3,498,977	$ 3,438,702
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accounts Payable, Current, Operating lease liabilities	Accounts Payable, Current, Operating lease liabilities
Property and equipment, gross	$ 17,751,314	$ 17,747,189
Accumulated depreciation	(8,161,881)	(8,185,355)
Property and equipment, net	9,589,433	9,561,834
Other current liabilities	$ 48,391	$ 56,459
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Capital Lease Obligations, Current	Long-term Debt and Capital Lease Obligations, Current
Other long-term liabilities	$ 60,133	$ 67,199
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long Term Debt And Finance Lease Obligations Net Of Current Portion	Long Term Debt And Finance Lease Obligations Net Of Current Portion
Total	$ 108,524	$ 123,658
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Capital Lease Obligations, Current, Long Term Debt And Finance Lease Obligations Net Of Current Portion	Long-term Debt and Capital Lease Obligations, Current, Long Term Debt And Finance Lease Obligations Net Of Current Portion
Operating lease, weighted average remaining lease term	10 years	10 years 7 months 6 days
Finance lease, weighted average remaining lease term	2 years 1 month 6 days	2 years 2 months 12 days
Operating lease, weighted average discount rate, percent	9.90%	9.50%
Finance lease, weighted average discount rate, percent	9.60%	9.70%
Property and equipment
Leases
Property and equipment, gross	$ 830,606	$ 833,933
Accumulated depreciation	(538,300)	(520,344)
Property and equipment, net	$ 292,306	$ 313,589

Leases - Lease Income Maturity (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Amounts
2024 (remaining nine months)	$ 6,415
2025	4,953
2026	3,567
2027	3,488
2028	672
Thereafter	177
Total lease payments to be received	$ 19,272

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases
Operating lease cost	$ 167,006	$ 117,556
Short-term lease cost	1,023	1,279
Finance lease cost: Amortization of right-of-use assets	18,468	34,197
Finance lease cost: Interest on lease liabilities	2,792	3,570
Total finance lease cost	21,260	37,767
Total lease costs	$ 189,289	$ 156,602

Property and Equipment and Intangible Assets - Asset retirement obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Activity relating to our asset retirement obligations
Balance at beginning of period	$ 278,287	$ 183,135
Liabilities incurred	4,308	31,554
Accretion expense	6,464	4,106
Balance at end of period	289,059	218,795
Total	289,059	218,795	$ 278,287
Corresponding assets, net of accumulated depreciation, related to asset retirement obligations	216,000		$ 217,000
Other long-term liabilities
Activity relating to our asset retirement obligations
Balance at end of period	289,059	218,795
Total	$ 289,059	$ 218,795

Basic and Diluted Net Income (Loss) Per Share - Performance based stock (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share	32,124	32,263
Anti-dilutive stock awards
Antidilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share	11,417	10,849
Performance/market based options
Antidilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share	4,556	5,020
Restricted Performance Units/Awards
Antidilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share		243
Common stock warrants
Antidilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share	16,151	16,151

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Maturities of lease liabilities: Operating lease
2024 (remaining nine months)	$ 350,672
2025	499,361
2026	531,049
2027	531,138
2028	487,494
Thereafter	3,269,111
Total lease payments	5,668,825
Less: Imputed interest	(2,169,848)
Total	3,498,977	$ 3,438,702
Less: Current portion	(341,257)	(317,395)
Long-term portion of lease obligations	3,157,720	3,121,307
Maturities of lease liabilities: Finance lease
2024 (remaining nine months)	48,115
2025	35,392
2026	36,588
2027	2,574
Total lease payments	122,669
Less: Imputed interest	(14,145)
Total	108,524	123,658
Less: Current portion	(48,391)	(56,459)
Long-term portion of lease obligations	60,133	$ 67,199
Future minimum payments for total lease liabilities
2024 (remaining nine months)	398,787
2025	534,753
2026	567,637
2027	533,712
2028	487,494
Thereafter	3,269,111
Total lease payments	5,791,494
Less: Imputed interest	(2,183,993)
Total	3,607,501
Less: Current portion	(389,648)
Long-term portion of lease obligations	$ 3,217,853

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 613,702	$ 1,821,376
Marketable investment securities	152,649	623,044
Trade accounts receivable, net of allowance for credit losses of $84,906 and $74,390, respectively	1,023,089	1,122,139
Inventory	632,952	665,169
Prepaids and other assets	677,982	644,005
Other current assets	16,165	16,081
Total current assets	3,116,539	4,891,814
Noncurrent Assets:
Restricted cash, cash equivalents and marketable investment securities	120,979	118,065
Property and equipment, net	9,589,433	9,561,834
Regulatory authorizations, net	38,809,600	38,572,980
Other investments, net	309,189	314,370
Operating lease assets	3,092,070	3,065,448
Intangible assets, net	127,670	172,892
Other noncurrent assets, net	390,937	411,491
Total noncurrent assets	52,439,878	52,217,080
Total assets	55,556,417	57,108,894
Current Liabilities:
Trade accounts payable	573,299	774,011
Deferred revenue and other	712,783	754,658
Accrued programming	1,485,798	1,427,762
Accrued interest	408,134	297,678
Other accrued expenses and liabilities	1,734,288	1,717,826
Current portion of long-term debt and finance lease obligations (Note 9)	2,090,661	3,046,654
Total current liabilities	7,004,963	8,018,589
Long-Term Obligations, Net of Current Portion:
Long-term debt and finance lease obligations, net of current portion (Note 9)	19,696,803	19,717,266
Deferred tax liabilities, net	4,998,855	5,014,309
Operating lease liabilities	3,157,720	3,121,307
Long-term deferred revenue and other long-term liabilities	856,926	849,131
Total long-term obligations, net of current portion	28,710,304	28,702,013
Total liabilities	35,715,267	36,720,602
Commitments and Contingencies (Note 10)
Redeemable noncontrolling interests (Note 2)		438,382
Stockholders' Equity (Deficit):
Additional paid-in capital	8,310,877	8,301,979
Accumulated other comprehensive income (loss)	(164,604)	(160,056)
Accumulated earnings (deficit)	11,630,607	11,737,983
Total EchoStar stockholders' equity (deficit)	19,777,151	19,880,177
Noncontrolling interests	63,999	69,733
Total stockholders' equity (deficit)	19,841,150	19,949,910
Total liabilities and stockholders' equity (deficit)	55,556,417	57,108,894
Class A common stock
Stockholders' Equity (Deficit):
Common stock	140	140
Class B common stock
Stockholders' Equity (Deficit):
Common stock	$ 131	$ 131