Leases (Tables)

12 Months Ended

Dec. 31, 2023

Summary of the components of lease expense


		For the Years Ended December 31,
		2023			2022			2021

		(In thousands)
Operating lease cost (1)		$	70,262		$	166,599		$	217,635

Short-term lease cost (1)(2)			169,159			74,514			33,456

Finance lease cost:
Amortization of right-of-use assets (3)			34,448			38,322			49,496
Interest on lease liabilities (3)			4,845			8,566			13,122
Total finance lease cost (3)			39,293			46,888			62,618
Total lease costs		$	278,714		$	288,001		$	313,709

(1)

The decrease in “Operating lease cost” is primarily related to our intercompany satellite leases with DISH Network, which were reclassified to “Short-term lease costs” during 2022 and the first quarter of 2023. All of our satellite operating leases with DISH Network are now short-term leases. In addition, the decrease in “Operating lease cost” from 2021 to 2022 was primarily related to the QuetzSat-1 lease, which expired in November 2021.

(2)

Leases that have terms of 12 months or less.

(3)

The decrease in finance lease cost is primarily related to the Anik F3 finance lease that was extended in April 2022 and as a result is currently accounted for as an operating lease.

Summary of Supplemental cash flow information related to leases


		For the Years Ended December 31,
		2023			2022			2021

		(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	96,195		$	138,318		$	213,135
Operating cash flows from finance leases		$	6,633		$	6,733		$	13,002
Financing cash flows from finance leases		$	47,030		$	31,030		$	51,608

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	30,657		$	74,317		$	22,780
Finance leases		$	—		$	—		$	—

Summary of supplemental balance sheet information related to leases


		As of December 31,
		2023			2022

		(In thousands)
Operating Leases:
Operating lease assets		$	92,972		$	130,454

Other current liabilities		$	36,618		$	60,203
Operating lease liabilities			61,381			75,142
Total operating lease liabilities		$	97,999		$	135,345

Finance Leases:
Property and equipment, gross		$	175,704		$	175,704
Accumulated depreciation			(149,917)			(115,469)
Property and equipment, net		$	25,787		$	60,235

Other current liabilities		$	31,104		$	38,102
Other long-term liabilities			—			31,104
Total finance lease liabilities		$	31,104		$	69,206

Weighted Average Remaining Lease Term:
Operating leases			4.1 years			3.7 years
Finance leases			0.8 years			1.8 years

Weighted Average Discount Rate:
Operating leases			8.3%			7.2%
Finance leases			10.0%			10.0%

Summary of maturities of finance lease liabilities

Maturities of lease liabilities as of December 31, 2023 were as follows:


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

		(In thousands)
2024		$	41,709		$	32,147		$	73,856
2025			26,417			—			26,417
2026			15,898			—			15,898
2027			8,337			—			8,337
2028			7,361			—			7,361
Thereafter			17,792			—			17,792
Total lease payments			117,514			32,147			149,661
Less: Imputed interest			(19,515)			(1,043)			(20,558)
Total			97,999			31,104			129,103
Less: Current portion			(36,618)			(31,104)			(67,722)
Long-term portion of lease obligations		$	61,381		$	—		$	61,381