Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting

Schedule of revenue, expense, operating income (loss) and OIBDA by segment and purchases of property and equipment, net of refunds


		Pay-TV			Wireless			Broadband and Satellite Services			Eliminations			Consolidated Total

		(In thousands)
For the Three Months Ended June 30, 2025
Revenue
Revenue from external customers:
Service revenue		$	2,444,851		$	823,721		$	271,535		$	—		$	3,540,107
Equipment sales and other revenue			13,638			110,647			60,567			—			184,852
Intersegment revenue			3,760			263			7,678			(11,701)			—
Total revenue			2,462,249			934,631			339,780			(11,701)			3,724,959

Operating Expenses
Cost of services:
Programming			1,179,987			—			—			—			1,179,987
Connectivity services (1)			52,652			636,680			50,180			(2,315)			737,197
Other (2)			316,332			164,501			65,052			(1,438)			544,447
Total cost of services			1,548,971			801,181			115,232			(3,753)			2,461,631
Cost of sales - equipment and other			9,446			282,045			63,551			(855)			354,187
Selling, general and administrative expenses:
Subscriber acquisition costs			87,606			204,810			44,924			(1,389)			335,951
Selling, general and administrative expenses			152,849			98,575			48,374			(6,255)			293,543
Total selling, general and administrative expenses			240,455			303,385			93,298			(7,644)			629,494

OIBDA (3)			663,377			(451,980)			67,699			551			279,647

Depreciation and amortization			67,825			320,968			104,437			(175)			493,055
Total costs and expenses			1,866,697			1,707,579			376,518			(12,427)			3,938,367

Operating income (loss)		$	595,552		$	(772,948)		$	(36,738)		$	726			(213,408)

Unallocated Amounts
Interest income															65,369
Interest expense, net of amounts capitalized															(279,232)
Other, net															35,137
Income (loss) before income taxes														$	(392,134)

(1)	“Connectivity services” is the cost to deliver our services and products to customers, which includes, among other things, network, transport and data, cloud-based service, satellite and transmission, and other related costs.

(2)	“Other” primarily consists of variable costs including call center, manufacturing, dealer incentive, bad debt, billing and other variable costs, as well as costs to retain our subscribers.

(3)

OIBDA is a non-GAAP measure and does not purport to be an alternative to operating income (loss) as a measure of operating performance. We believe this measure is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors.


		Pay-TV			Wireless			Broadband and Satellite Services			Eliminations			Consolidated Total

		(In thousands)
For the Three Months Ended June 30, 2024
Revenue
Revenue from external customers:
Service revenue		$	2,656,580		$	785,140		$	300,366		$	—		$	3,742,086
Equipment sales and other revenue			17,379			107,452			85,834			—			210,665
Intersegment revenue			2,325			136			7,811			(10,272)			—
Total revenue			2,676,284			892,728			394,011			(10,272)			3,952,751

Operating Expenses
Cost of services:
Programming			1,259,042			—			—			—			1,259,042
Connectivity services			54,504			619,855			52,760			(2,144)			724,975
Other			325,137			125,649			73,490			(815)			523,461
Total cost of services			1,638,683			745,504			126,250			(2,959)			2,507,478
Cost of sales - equipment and other			17,837			312,983			78,409			(1,136)			408,093
Selling, general and administrative expenses:
Subscriber acquisition costs			102,635			147,308			48,690			(583)			298,050
Selling, general and administrative expenses			164,128			81,372			58,270			(6,796)			296,974
Total selling, general and administrative expenses			266,763			228,680			106,960			(7,379)			595,024

OIBDA			753,001			(394,439)			82,392			1,202			442,156

Depreciation and amortization			85,249			305,863			116,978			(565)			507,525
Total costs and expenses			2,008,532			1,593,030			428,597			(12,039)			4,018,120

Operating income (loss)		$	667,752		$	(700,302)		$	(34,586)		$	1,767			(65,369)

Unallocated Amounts
Interest income															13,929
Interest expense, net of amounts capitalized															(81,166)
Other, net															(91,498)
Income (loss) before income taxes														$	(224,104)


		Pay-TV			Wireless			Broadband and Satellite Services			Eliminations			Consolidated Total

		(In thousands)
For the Six Months Ended June 30, 2025
Revenue
Revenue from external customers:
Service revenue		$	4,966,403		$	1,633,328		$	546,532		$	—		$	7,146,263
Equipment sales and other revenue			26,593			272,771			149,090			—			448,454
Intersegment revenue			7,980			1,307			14,816			(24,103)			—
Total revenue			5,000,976			1,907,406			710,438			(24,103)			7,594,717

Operating Expenses
Cost of services:
Programming			2,396,409			—			—			—			2,396,409
Connectivity services			106,786			1,258,748			99,339			(4,498)			1,460,375
Other			602,412			308,633			129,018			(3,018)			1,037,045
Total cost of services			3,105,607			1,567,381			228,357			(7,516)			4,893,829
Cost of sales - equipment and other			19,118			631,290			145,285			(1,998)			793,695
Selling, general and administrative expenses:
Subscriber acquisition costs			174,119			395,295			91,356			(2,278)			658,492
Selling, general and administrative expenses			308,882			180,484			92,038			(12,551)			568,853
Total selling, general and administrative expenses			483,001			575,779			183,394			(14,829)			1,227,345

OIBDA			1,393,250			(867,044)			153,402			240			679,848

Depreciation and amortization			144,268			628,206			209,335			(421)			981,388
Total costs and expenses			3,751,994			3,402,656			766,371			(24,764)			7,896,257

Operating income (loss)		$	1,248,982		$	(1,495,250)		$	(55,933)		$	661			(301,540)

Unallocated Amounts
Interest income															130,898
Interest expense, net of amounts capitalized															(565,287)
Other, net															76,527
Income (loss) before income taxes														$	(659,402)


		Pay-TV			Wireless			Broadband and Satellite Services			Eliminations			Consolidated Total

		(In thousands)
For the Six Months Ended June 30, 2024
Revenue
Revenue from external customers:
Service revenue		$	5,356,105		$	1,589,401		$	616,249		$	—		$	7,561,755
Equipment sales and other revenue			42,240			217,003			146,596			—			405,839
Intersegment revenue			4,517			330			13,752			(18,599)			—
Total revenue			5,402,862			1,806,734			776,597			(18,599)			7,967,594

Operating Expenses
Cost of services:
Programming			2,543,872			—			—			—			2,543,872
Connectivity services			111,701			1,261,497			102,118			(2,957)			1,472,359
Other			647,555			248,115			154,312			(1,553)			1,048,429
Total cost of services			3,303,128			1,509,612			256,430			(4,510)			5,064,660
Cost of sales - equipment and other			34,829			602,525			135,043			(1,221)			771,176
Selling, general and administrative expenses:
Subscriber acquisition costs			223,388			289,046			102,124			(1,359)			613,199
Selling, general and administrative expenses			333,006			163,486			121,321			(11,566)			606,247
Total selling, general and administrative expenses			556,394			452,532			223,445			(12,925)			1,219,446

OIBDA			1,508,511			(757,935)			161,679			57			912,312

Depreciation and amortization			170,651			587,535			235,819			(1,080)			992,925
Total costs and expenses			4,065,002			3,152,204			850,737			(19,736)			8,048,207

Operating income (loss)		$	1,337,860		$	(1,345,470)		$	(74,140)		$	1,137			(80,613)

Unallocated Amounts
Interest income															44,391
Interest expense, net of amounts capitalized															(180,574)
Other, net															(117,608)
Income (loss) before income taxes														$	(334,404)


		Pay-TV			Wireless			Broadband and Satellite Services			Total

		(In thousands)
For the Three Months Ended June 30, 2025
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)		$	78,580		$	625,203		$	43,118		$	746,901

For the Three Months Ended June 30, 2024
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)		$	54,006		$	560,468		$	56,559		$	671,033


		Pay-TV			Wireless			Broadband and Satellite Services			Total

		(In thousands)
For the Six Months Ended June 30, 2025
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)		$	140,968		$	909,196		$	75,221		$	1,125,385

For the Six Months Ended June 30, 2024
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)		$	111,918		$	1,109,641		$	127,170		$	1,348,729

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


		For the Three Months Ended						For the Six Months Ended
		June 30,						June 30,
Category:		2025			2024			2025			2024

		(In thousands)
Pay-TV subscriber and related revenue		$	2,446,844		$	2,658,381		$	4,971,196		$	5,359,560
Wireless services and related revenue			823,722			785,135			1,633,329			1,589,401
Broadband and satellite services and other revenue			273,441			302,527			550,385			619,647
Pay-TV equipment sales and other revenue			15,405			17,903			29,780			43,302
Wireless equipment sales and other revenue			110,909			107,593			274,077			217,333
Broadband equipment and other revenue			66,339			91,484			160,053			156,950
Eliminations			(11,701)			(10,272)			(24,103)			(18,599)
Total		$	3,724,959		$	3,952,751		$	7,594,717		$	7,967,594