EchoStar CORP

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

ECHO$104.16+2.9%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations and Comprehensive Income (Loss)

(Dollars in thousands, except per share amounts)


· · For the Years Ended December 31, ·
· 2023 · 2022 · 2021
Revenue:
Service and other revenue	$16,145,763	$17,596,265	$18,598,313
Equipment sales and other revenue	869,835	1,037,981	1,220,365
Total revenue	17,015,598	18,634,246	19,818,678

Costs and Expenses (exclusive of depreciation and amortization):
Cost of services	9,510,427	10,111,341	10,717,333
Cost of sales - equipment and other	2,434,904	2,099,136	1,778,471
Selling, general and administrative expenses	2,989,154	3,015,325	2,686,279
Depreciation and amortization	1,597,923	1,174,895	1,213,946
Impairment of long-lived assets and goodwill (Note 2)	761,099	711	245
Total costs and expenses	17,293,507	16,401,408	16,396,274

Operating income (loss)	(277,909)	2,232,838	3,422,404

Other Income (Expense):
Interest income, net	207,374	93,240	33,903
Interest expense, net of amounts capitalized	(90,357)	(79,217)	(111,151)
Other, net (Note 6)	(1,770,792)	1,088,441	4,716
Total other income (expense)	(1,653,775)	1,102,464	(72,532)

Income (loss) before income taxes	(1,931,684)	3,335,302	3,349,872
Income tax (provision) benefit, net	296,860	(798,410)	(828,437)
Net income (loss)	(1,634,824)	2,536,892	2,521,435
Less: Net income (loss) attributable to noncontrolling interests, net of tax	67,233	59,172	35,150
Net income (loss) attributable to EchoStar	$(1,702,057)	$2,477,720	$2,486,285

Weighted-average common shares outstanding - Class A and B common stock:
Basic	270,842	270,102	275,117
Diluted	270,842	307,733	313,122

Earnings per share - Class A and B common stock:
Basic net income (loss) per share attributable to EchoStar	$(6.28)	$9.17	$9.04
Diluted net income (loss) per share attributable to EchoStar	$(6.28)	$8.05	$7.94

Comprehensive Income (Loss):
Net income (loss)	$(1,634,824)	$2,536,892	$2,521,435
Other comprehensive income (loss):
Foreign currency translation adjustments	19,129	35,449	(22,274)
Unrealized holding gains (losses) on available-for-sale debt securities	(306)	536	(694)
Recognition of previously unrealized (gains) losses on available-for-sale securities included in net income (loss)	550	(25)	(25)
Deferred income tax (expense) benefit, net	(512)	(359)	519
Other	—	2,660	(5,005)
Total other comprehensive income (loss), net of tax	18,861	38,261	(27,479)
Comprehensive income (loss)	(1,615,963)	2,575,153	2,493,956
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax	70,883	60,879	30,761
Comprehensive income (loss) attributable to EchoStar	$(1,686,846)	$2,514,274	$2,463,195

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.