ADT Inc(NYSE:ADT) 
ADT Inc. provides security, automation, and smart home solutions to consumer and business customers in the United States. It provides a range of fire detection, fire suppression, video surveillance, and access control systems to residential, commercial, and multi-site customers. The company primaril...
Website: http://www.adt.com
Founded: 1874
IPO Price: $14 (Jan 19, 2018)
Full Time Employees: 17,500
Sector: Industrials
Industry: Security & Protection Services
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At a glance:
- Recurring Revenue Base Anchors Stability: ADT’s business is supported by subscription monitoring and services revenue, which tends to be more predictable than one-time equipment sales and can provide resilience across economic cycles.
- Customer Churn and Subscriber Growth Are Key Drivers: Net subscriber additions and churn rates are central to ADT’s outlook because small changes can materially impact lifetime value, profitability, and the pace of revenue growth.
- Leverage and Interest Expense Influence Equity Value: As a capital-intensive, debt-bearing model, ADT’s earnings and free cash flow can be sensitive to refinancing needs, interest rates, and management’s progress on debt reduction.
- Partnerships and Smart-Home Offerings Shape Competitive Position: Strategic partnerships and integration with smart-home ecosystems can improve customer acquisition and retention, but success depends on execution, product differentiation, and channel effectiveness.
- Margins and Free Cash Flow Depend on Install/Service Efficiency: Operational metrics such as installation costs, service productivity, and hardware economics can drive margin expansion and free cash flow conversion, especially as the company scales its subscriber base.
Bull Thesis:
- Strong Recurring Revenue Model: ADT benefits from a high-margin, subscription-based revenue model, providing predictable and stable cash flows. This recurring revenue base offers resilience against economic fluctuations and forms a solid foundation for long-term growth.
- Strategic Partnerships and Smart Home Expansion: The partnership with Google (e.g., Google Nest integration) enhances ADT's smart home offerings, broadens its technology capabilities, and expands its addressable market beyond traditional security. This positions ADT to capture growth in the evolving smart home ecosystem.
- Powerful Brand Recognition and Market Leadership: ADT possesses one of the most recognized brands in the security industry, fostering high customer trust and loyalty. This strong brand equity provides a significant competitive advantage in customer acquisition and retention, maintaining its leadership position.
- Increasing Demand for Security and Monitoring Services: Societal trends, including concerns over safety and the desire for peace of mind, continue to drive demand for professional security and monitoring services. ADT is well-positioned to capitalize on this persistent market need.
Bear Thesis:
- High Customer Acquisition Costs (CAC) and Churn: ADT faces significant upfront costs to acquire new customers, which can weigh on profitability and free cash flow generation. Additionally, competition from DIY solutions and other providers can lead to higher churn rates, necessitating continuous investment in customer retention.
- Intense Competition from Diverse Players: The security market is highly competitive, with pressure from traditional rivals, cable companies, and a growing number of DIY smart home security providers (e.g., Ring, SimpliSafe). This competition can lead to pricing pressure and challenges in maintaining market share.
- Significant Debt Load and Interest Rate Sensitivity: ADT carries a substantial amount of debt on its balance sheet. This debt can limit financial flexibility, increase interest expenses (especially in a rising interest rate environment), and potentially constrain investments in growth or innovation.
- Challenges in Generating Consistent Free Cash Flow: Despite a strong recurring revenue model, ADT has historically faced challenges in consistently generating robust free cash flow due to high customer acquisition costs, capital expenditures, and debt servicing. This can impact its ability to deleverage or return capital to shareholders.
Main Competitors:
- Vivint Smart Home, Inc. (Vivint Smart Home Security System), Competes directly with ADT by offering professionally installed and monitored smart home security systems, often through a direct-to-consumer sales model and long-term contracts, emphasizing integrated smart home automation and energy management. Vivint was acquired by NRG Energy in March 2023.
- Brinks Home Security (Brinks Home Security Systems), A long-standing competitor in the traditional professionally installed and monitored home security market, competing on service, monitoring quality, and brand recognition, often through dealer networks and direct sales, similar to ADT's core business model.
- Comcast Corporation ($CMCSA) (Xfinity Home Security & Automation), Leverages its existing broadband and cable TV customer base to offer integrated smart home security and automation services. Xfinity Home competes on bundled pricing, convenience, and the appeal of a single provider for multiple home services, often at competitive rates.
- Amazon.com, Inc. ($AMZN) (Ring Alarm Security System), Disrupts the traditional security market by offering affordable, DIY-friendly smart security devices and systems with optional professional monitoring. Ring appeals to cost-conscious consumers and those preferring self-installation and flexible, lower-cost subscriptions, challenging ADT's higher upfront costs and long-term contracts.
Moat:
ADT's primary moat lies in its strong brand recognition, extensive professional installation and monitoring infrastructure, and a large, loyal customer base built over decades. However, it faces intense competition from several fronts. Traditional security providers like Brinks Home Security and Vivint compete directly on service, sales models, and integrated smart home solutions. Telecom giants such as Comcast's Xfinity Home leverage existing customer relationships and bundled services to attract subscribers. Furthermore, the rise of tech companies like Amazon's Ring has introduced a significant disruptive force with affordable, DIY-friendly systems and flexible monitoring options, challenging ADT's higher upfront costs and long-term contract model. ADT must continuously innovate its offerings, integrate advanced smart home technology, and adapt its pricing strategies to maintain its market leadership against these diverse competitive pressures.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | |||||||||||||||||||||||||||||||||
monitoring and related services | 1,080,476,000 | 1,083,181,000 | 1,097,561,000 | 1,090,241,000 | 1,083,104,000 | 1,085,210,000 | 1,077,550,000 | 1,068,065,000 | 1,062,652,000 | 1,053,654,000 | 1,053,456,000 | 1,187,063,000 | 1,173,318,000 | 1,162,536,000 | 1,159,641,000 | 1,121,296,000 | 1,103,038,000 | 1,098,389,000 | 1,083,520,000 | 1,062,766,000 | 1,053,974,000 | 1,045,677,000 | 1,041,379,000 | 1,045,957,000 | 1,058,181,000 | 1,093,564,000 | 1,085,422,000 | 1,070,415,000 | 1,040,122,000 | 1,029,399,000 | 1,023,126,000 | 1,017,292,000 | |
security installation, product, and other | 198,053,000 | 192,946,000 | 200,393,000 | 196,794,000 | 184,387,000 | 175,169,000 | 166,286,000 | 136,494,000 | 127,020,000 | 118,744,000 | 126,417,000 | 328,533,000 | 294,201,000 | ||||||||||||||||||||
total revenue | 1,278,529,000 | 1,276,127,000 | 1,297,954,000 | 1,287,035,000 | 1,267,491,000 | 1,260,379,000 | 1,243,836,000 | 1,204,559,000 | 1,209,311,000 | 1,222,255,000 | 1,237,484,000 | 1,593,128,000 | 1,612,354,000 | 1,645,442,000 | 1,604,091,000 | 1,544,747,000 | 1,380,988,000 | 1,317,002,000 | 1,304,417,000 | 1,304,704,000 | 1,314,724,000 | 1,298,924,000 | 1,331,387,000 | 1,369,752,000 | 1,298,283,000 | 1,300,570,000 | 1,283,744,000 | 1,243,060,000 | 1,185,450,000 | 1,148,316,000 | 1,131,459,000 | 1,116,448,000 | |
yoy | 0.87% | 1.25% | 4.35% | 6.85% | 4.81% | 3.12% | 0.51% | -24.39% | -25.00% | -25.72% | -22.85% | 3.13% | 16.75% | 24.94% | 22.97% | 18.40% | 5.04% | 1.39% | -2.03% | -4.75% | 1.27% | -0.13% | 3.71% | 10.19% | 9.52% | 13.26% | 13.46% | 11.34% | |||||
qoq | 0.19% | -1.68% | 0.85% | 1.54% | 0.56% | 1.33% | 3.26% | -0.39% | -1.06% | -1.23% | -22.32% | -1.19% | -2.01% | 2.58% | 3.84% | 11.86% | 4.86% | 0.96% | -0.02% | -0.76% | 1.22% | -2.44% | -2.80% | 5.50% | -0.18% | 1.31% | 3.27% | 4.86% | 3.23% | 1.49% | 1.34% | ||
total cost of revenue | 242,855,000 | 241,954,000 | 250,710,000 | 250,186,000 | 240,122,000 | 234,469,000 | 222,106,000 | 196,234,000 | 235,827,000 | 229,070,000 | 236,820,000 | 483,676,000 | 514,001,000 | 527,946,000 | 494,321,000 | 509,768,000 | 415,437,000 | 371,985,000 | 381,585,000 | 381,166,000 | 374,300,000 | 357,895,000 | 376,347,000 | 407,986,000 | 369,681,000 | 356,556,000 | 338,089,000 | 325,958,000 | 283,431,000 | 263,286,000 | 246,225,000 | 248,394,000 | |
gross profit | 1,035,674,000 | 1,034,173,000 | 1,047,244,000 | 1,036,849,000 | 1,027,369,000 | 1,025,910,000 | 1,021,730,000 | 1,008,325,000 | 973,484,000 | 993,185,000 | 1,000,664,000 | 1,109,452,000 | 1,098,353,000 | 1,117,496,000 | 1,109,770,000 | 1,034,979,000 | 965,551,000 | 945,017,000 | 922,832,000 | 923,538,000 | 940,424,000 | 941,029,000 | 955,040,000 | 961,766,000 | 928,602,000 | 944,014,000 | 945,655,000 | 917,102,000 | 902,019,000 | 885,030,000 | 885,234,000 | 868,054,000 | |
yoy | 0.81% | 0.81% | 2.50% | 2.83% | 5.54% | 3.29% | 2.11% | -9.12% | -11.37% | -11.12% | -9.83% | 7.20% | 13.75% | 18.25% | 20.26% | 12.07% | 2.67% | 0.42% | -3.37% | -3.97% | 1.27% | -0.32% | 0.99% | 4.87% | 2.95% | 6.66% | 6.83% | 5.65% | |||||
qoq | 0.15% | -1.25% | 1.00% | 0.92% | 0.14% | 0.41% | 1.33% | 3.58% | -1.98% | -0.75% | -9.81% | 1.01% | -1.71% | 0.70% | 7.23% | 7.19% | 2.17% | 2.40% | -0.08% | -1.80% | -0.06% | -1.47% | -0.70% | 3.57% | -1.63% | -0.17% | 3.11% | 1.67% | 1.92% | -0.02% | 1.98% | ||
gross margin % | 81.01% | 81.04% | 80.68% | 80.56% | 81.06% | 81.40% | 82.14% | 83.71% | 80.50% | 81.26% | 80.86% | 69.64% | 68.12% | 67.91% | 69.18% | 67.00% | 69.92% | 71.76% | 70.75% | 70.79% | 71.53% | 72.45% | 71.73% | 70.21% | 71.53% | 72.58% | 73.66% | 73.78% | 76.09% | 77.07% | 78.24% | 77.75% | |
selling, general, and administrative expenses | 364,769,000 | 360,427,000 | 384,353,000 | 356,138,000 | 368,600,000 | 370,823,000 | 358,520,000 | 388,440,000 | 398,453,000 | 380,491,000 | 395,600,000 | 441,771,000 | 462,229,000 | 480,177,000 | 480,427,000 | 482,348,000 | 445,137,000 | 448,634,000 | 445,636,000 | 449,602,000 | 444,715,000 | 410,933,000 | 414,031,000 | 453,227,000 | 358,714,000 | 378,645,000 | 344,664,000 | 324,509,000 | 324,323,000 | 295,119,000 | 322,538,000 | 304,970,000 | |
depreciation and intangible asset amortization | 345,486,000 | 341,147,000 | 347,818,000 | 338,734,000 | 339,517,000 | 340,667,000 | 335,270,000 | 333,859,000 | 334,353,000 | 329,877,000 | 333,088,000 | 345,838,000 | 383,055,000 | 411,704,000 | 406,332,000 | 476,123,000 | 490,689,000 | 480,010,000 | 474,271,000 | 469,809,000 | 473,528,000 | 473,346,000 | 477,869,000 | 489,024,000 | 486,508,000 | 505,832,000 | 500,864,000 | 495,878,000 | 484,161,000 | 474,772,000 | 488,320,000 | 483,676,000 | |
operating income | 325,419,000 | 332,599,000 | 315,073,000 | 341,977,000 | 319,252,000 | 305,390,000 | 326,350,000 | 284,175,000 | 195,496,000 | 262,984,000 | 167,313,000 | 122,574,000 | 42,722,000 | 206,351,000 | 67,341,000 | 75,980,000 | 10,441,000 | 23,096,000 | -1,879,000 | -16,380,000 | 16,688,000 | 62,886,000 | 50,422,000 | -89,356,000 | 64,105,000 | -51,234,000 | 93,137,000 | 90,436,000 | 10,687,000 | 121,847,000 | 73,921,000 | 71,385,000 | |
yoy | 1.93% | 8.91% | -3.46% | 20.34% | 63.30% | 16.12% | 95.05% | 131.84% | 357.60% | 27.44% | 148.46% | 61.32% | 309.18% | 793.45% | -3683.87% | -563.86% | -37.43% | -63.27% | -103.73% | -81.67% | -73.97% | -222.74% | -45.86% | -198.81% | 499.84% | -142.05% | 26.00% | 26.69% | |||||
qoq | -2.16% | 5.56% | -7.87% | 7.12% | 4.54% | -6.42% | 14.84% | 45.36% | -25.66% | 57.18% | 36.50% | 186.91% | -79.30% | 206.43% | -11.37% | 627.71% | -54.79% | -1329.16% | -88.53% | -198.15% | -73.46% | 24.72% | -156.43% | -239.39% | -225.12% | -155.01% | 2.99% | 746.22% | -91.23% | 64.83% | 3.55% | ||
operating margin % | 25.45% | 26.06% | 24.27% | 26.57% | 25.19% | 24.23% | 26.24% | 23.59% | 16.17% | 21.52% | 13.52% | 7.69% | 2.65% | 12.54% | 4.20% | 4.92% | 0.76% | 1.75% | -0.14% | -1.26% | 1.27% | 4.84% | 3.79% | -6.52% | 4.94% | -3.94% | 7.26% | 7.28% | 0.90% | 10.61% | 6.53% | 6.39% | |
interest expense | -98,381,000 | -109,972,000 | -112,617,000 | -115,798,000 | -120,879,000 | -82,051,000 | -161,830,000 | -109,700,000 | -88,931,000 | -169,769,000 | -147,187,000 | -84,282,000 | -171,626,000 | -147,243,000 | -30,084,000 | -6,307,000 | -110,143,000 | -133,275,000 | -166,525,000 | -47,724,000 | -138,798,000 | -156,759,000 | -187,265,000 | -225,367,000 | -153,596,000 | -152,431,000 | -154,641,000 | -158,905,000 | -161,987,000 | -152,405,000 | -174,479,000 | -174,333,000 | |
other income | 426,000 | -7,927,000 | -3,835,000 | 803,000 | -4,864,000 | 8,032,000 | 17,735,000 | 11,550,000 | 15,622,000 | 11,968,000 | 661,000 | 519,000 | -1,190,000 | 95,596,000 | -156,116,000 | 1,496,000 | 3,466,000 | 1,511,000 | 1,533,000 | 1,803,000 | 1,721,000 | 1,992,000 | 2,271,000 | 2,309,000 | 2,103,000 | 200,000 | 1,510,000 | 1,199,000 | -1,792,000 | 552,000 | 29,282,000 | -460,000 | |
income from continuing operations before income taxes | 227,464,000 | 214,700,000 | 198,621,000 | 226,982,000 | 193,509,000 | ||||||||||||||||||||||||||||
income tax benefit | -58,113,000 | -68,404,000 | -55,109,000 | -58,749,000 | -51,032,000 | -29,275,000 | -50,235,000 | -59,840,000 | -30,655,000 | -17,023,000 | -38,764,000 | 55,138,000 | 43,073,000 | -1,202,000 | -1,534,000 | -19,524,000 | 38,289,000 | 36,496,000 | 41,021,000 | 14,563,000 | 13,232,000 | 27,699,000 | 27,831,000 | 77,964,000 | 16,466,000 | 36,367,000 | 22,848,000 | 22,361,000 | 3,623,000 | 7,701,000 | 4,571,000 | 7,568,000 | |
income from continuing operations | 169,351,000 | 146,296,000 | 143,512,000 | 168,233,000 | 142,477,000 | 197,294,000 | 132,020,000 | 126,185,000 | 91,532,000 | 85,214,000 | -20,665,000 | ||||||||||||||||||||||
income from discontinued operations, net of tax | -977,000 | -902,000 | 1,620,000 | -3,054,000 | -2,231,000 | -7,337,000 | -4,869,000 | -33,791,000 | 19,000 | 490,658,000 | -65,572,000 | ||||||||||||||||||||||
net income | 168,374,000 | 145,394,000 | 145,132,000 | 165,179,000 | 140,246,000 | 189,957,000 | 127,151,000 | 92,394,000 | 91,551,000 | 575,872,000 | -86,237,000 | 92,211,000 | -89,698,000 | 151,443,000 | -121,987,000 | 51,645,000 | -57,947,000 | -109,129,000 | -125,850,000 | -47,894,000 | -112,061,000 | -113,098,000 | -106,741,000 | -300,293,000 | -71,993,000 | -181,630,000 | -104,057,000 | -66,470,000 | -149,469,000 | -235,544,000 | -66,705,000 | -157,437,000 | |
yoy | 20.06% | -23.46% | 14.14% | 78.78% | 53.19% | -67.01% | -247.44% | 0.20% | -202.07% | 280.26% | -29.31% | 78.55% | 54.79% | -238.77% | -3.07% | -207.83% | -48.29% | -3.51% | 17.90% | -84.05% | 55.66% | -37.73% | 2.58% | 351.77% | -51.83% | -22.89% | 56.00% | -57.78% | |||||
qoq | 15.81% | 0.18% | -12.14% | 17.78% | -26.17% | 49.39% | 37.62% | 0.92% | -84.10% | -767.78% | -193.52% | -202.80% | -159.23% | -224.15% | -336.20% | -189.12% | -46.90% | -13.29% | 162.77% | -57.26% | -0.92% | 5.96% | -64.45% | 317.11% | -60.36% | 74.55% | 56.55% | -55.53% | -36.54% | 253.11% | -57.63% | ||
net income margin % | 13.17% | 11.39% | 11.18% | 12.83% | 11.06% | 15.07% | 10.22% | 7.67% | 7.57% | 47.12% | -6.97% | 5.79% | -5.56% | 9.20% | -7.60% | 3.34% | -4.20% | -8.29% | -9.65% | -3.67% | -8.52% | -8.71% | -8.02% | -21.92% | -5.55% | -13.97% | -8.11% | -5.35% | -12.61% | -20.51% | -5.90% | -14.10% | |
common stock: | |||||||||||||||||||||||||||||||||
income from continuing operations per share - basic | 0.21 | 0.18 | 0.18 | 0.2 | 0.17 | 0.23 | 0.15 | 0.14 | 0.1 | 0.09 | -0.02 | ||||||||||||||||||||||
income from continuing operations per share - diluted | 0.2 | 0.17 | 0.17 | 0.19 | 0.16 | 0.22 | 0.14 | 0.13 | 0.1 | 0.09 | -0.02 | ||||||||||||||||||||||
net income per share | 0.21 | 0.18 | 0.18 | 0.2 | 0.16 | 0.22 | 0.14 | 0.1 | 0.1 | 0.63 | -0.09 | ||||||||||||||||||||||
weighted-average shares outstanding - basic | 759,716 | 777,822 | 764,742 | 777,635 | 808,029 | 846,521 | 850,462 | 848,273 | 855,893 | 856,843 | 857,423 | ||||||||||||||||||||||
weighted-average shares outstanding - diluted | 821,857 | 841,176 | 828,448 | 839,951 | 871,312 | 908,700 | 912,861 | 909,128 | 918,394 | 856,843 | 857,423 | ||||||||||||||||||||||
class b common stock: | |||||||||||||||||||||||||||||||||
merger, restructuring, integration, and other | 9,030,000 | 1,590,000 | 1,851,000 | 45,182,000 | 19,833,000 | 16,296,000 | 18,090,000 | 17,647,000 | 19,264,000 | 6,285,000 | 528,000 | 19,284,000 | -6,723,000 | 4,804,000 | 20,507,000 | 5,493,000 | -6,117,000 | 12,038,000 | 108,794,000 | 12,813,000 | 9,800,000 | 6,990,000 | 6,279,000 | -5,114,000 | -6,708,000 | ||||||||
income from continuing operations before income taxes and equity in net earnings of equity method investee | 226,569,000 | 182,255,000 | 186,025,000 | 122,187,000 | |||||||||||||||||||||||||||||
income from continuing operations before equity in net earnings of equity method investee | 197,294,000 | 132,020,000 | 126,185,000 | 91,532,000 | |||||||||||||||||||||||||||||
equity in net earnings of equity method investee | -2,677,000 | -2,059,000 | -1,594,000 | ||||||||||||||||||||||||||||||
solar installation, product, and other | 19,639,000 | 49,857,000 | 57,611,000 | 77,532,000 | 144,835,000 | ||||||||||||||||||||||||||||
goodwill impairment | 88,367,000 | 181,179,000 | 192,700,000 | 149,385,000 | 45,482,000 | ||||||||||||||||||||||||||||
income from continuing operations before income taxes and equity in net earnings (losses) of equity method investee | -38,772,250 | 20,787,000 | |||||||||||||||||||||||||||||||
income from continuing operations before equity in net earnings (losses) of equity method investee | -35,662,750 | -17,977,000 | |||||||||||||||||||||||||||||||
equity in net earnings (losses) of equity method investee | -1,775,750 | -2,688,000 | -1,738,000 | ||||||||||||||||||||||||||||||
income before income taxes and equity in net earnings (losses) of equity method investee | 38,811,000 | ||||||||||||||||||||||||||||||||
income before equity in net earnings (losses) of equity method investee | 93,949,000 | ||||||||||||||||||||||||||||||||
common stock | 0.1 | -0.1 | 0.17 | -0.13 | 0.06 | -0.06 | -0.13 | -0.15 | -0.06 | -0.14 | -0.15 | ||||||||||||||||||||||
class b common stock | 0.1 | -0.1 | 0.17 | -0.13 | 0.06 | -0.06 | -0.13 | -0.15 | -0.06 | -0.62 | 0.05 | ||||||||||||||||||||||
weighted-average shares outstanding - basic: | |||||||||||||||||||||||||||||||||
weighted-average shares outstanding - diluted: | |||||||||||||||||||||||||||||||||
income before income taxes and equity in net earnings of equity method investee | -130,094,000 | 154,704,000 | -118,859,000 | ||||||||||||||||||||||||||||||
income before equity in net earnings of equity method investee | -87,021,000 | 153,502,000 | -120,393,000 | ||||||||||||||||||||||||||||||
installation, product, and other | 330,784,750 | 444,450,000 | 423,451,000 | ||||||||||||||||||||||||||||||
loss on extinguishment of debt | -36,957,000 | -156,000 | -4,904,000 | -48,916,000 | -65,843,000 | -1,071,000 | -14,532,000 | -66,911,000 | -21,561,000 | -213,239,000 | -61,597,000 | ||||||||||||||||||||||
income before income taxes | 71,169,000 | -96,236,000 | -145,625,000 | -166,871,000 | -62,457,000 | -125,293,000 | -140,797,000 | -134,572,000 | -378,257,000 | -88,459,000 | -217,997,000 | -126,905,000 | -88,831,000 | -153,092,000 | -243,245,000 | -71,276,000 | -165,005,000 | ||||||||||||||||
installation and other | 277,950,000 | 218,613,000 | 220,897,000 | 241,938,000 | 260,750,000 | 253,247,000 | 290,008,000 | 323,795,000 | 240,102,000 | 207,006,000 | 198,322,000 | 172,645,000 | 145,328,000 | 118,917,000 | 108,333,000 | 99,156,000 | |||||||||||||||||
weighted-average shares outstanding - basic and diluted: | |||||||||||||||||||||||||||||||||
loss on sale of business | -19,000 | 680,000 | 77,000 | ||||||||||||||||||||||||||||||
net income per share | 0.21 | 0.18 | 0.18 | 0.2 | 0.16 | 0.22 | 0.14 | 0.1 | 0.1 | 0.63 | -0.09 | ||||||||||||||||||||||
basic and diluted | -0.14 | -0.4 | -0.118 | -0.25 | -0.14 | -0.09 | -0.155 | -0.31 | -0.09 | -0.22 | |||||||||||||||||||||||
weighted-average number of shares: | |||||||||||||||||||||||||||||||||
basic and diluted | 760,597 | 759,092 | 739,852 | 749,575 | 756,252 | 755,277 | 750,009 | 728,579 | |||||||||||||||||||||||||
loss on business held for sale | 13,872,250 | 55,489,000 | |||||||||||||||||||||||||||||||
cash dividends declared per common share | 0.026 | 0.035 | 0.035 | 0.035 | |||||||||||||||||||||||||||||
merger, restructuring, integration, and other costs | 455,000 | 8,023,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||||||||
cash and cash equivalents | 119,328,000 | 80,817,000 | 62,806,000 | 45,195,000 | 3,744,000 | 96,212,000 | 95,338,000 | 37,883,000 | 4,041,000 | 14,621,000 | 238,582,000 | 146,435,000 | 186,316,000 | 257,223,000 | 45,734,000 | 17,404,000 | 24,453,000 | 61,207,000 | 150,439,000 | 122,554,000 | 204,998,000 | 489,433,000 | 45,473,000 | 118,141,000 | 48,736,000 | 155,774,000 | 43,052,000 | 95,680,000 | 363,177,000 | 256,917,000 | 344,288,000 | 258,195,000 | 122,899,000 |
restricted cash and restricted cash equivalents | 32,470,000 | 27,723,000 | 108,228,000 | 107,247,000 | 87,442,000 | 107,853,000 | 109,411,000 | 111,034,000 | 114,655,000 | 115,329,000 | 117,482,000 | 114,365,000 | 117,236,000 | 116,357,000 | |||||||||||||||||||
accounts receivable | 368,068,000 | 384,909,000 | 400,437,000 | 406,594,000 | 395,281,000 | 393,511,000 | 396,913,000 | 386,484,000 | 387,498,000 | 390,471,000 | 384,393,000 | 621,871,000 | 598,163,000 | 597,313,000 | 539,573,000 | 453,823,000 | 442,158,000 | 363,060,000 | 356,736,000 | 331,698,000 | 336,033,000 | 289,680,000 | 258,901,000 | 270,452,000 | |||||||||
inventories | 188,884,000 | 201,778,000 | 190,436,000 | 185,690,000 | 188,818,000 | 196,731,000 | 203,007,000 | 203,022,000 | 209,765,000 | 223,681,000 | 199,203,000 | 307,728,000 | 326,617,000 | 329,490,000 | 331,615,000 | 304,835,000 | 277,323,000 | 214,205,000 | 192,790,000 | 181,404,000 | 174,839,000 | 155,159,000 | 130,414,000 | 129,074,000 | 104,219,000 | 105,503,000 | 108,251,000 | 106,680,000 | 89,178,000 | 79,332,000 | 78,134,000 | 82,564,000 | 85,672,000 |
prepaid expenses and other current assets | 190,634,000 | 250,325,000 | 226,079,000 | 195,532,000 | 182,255,000 | 210,613,000 | 194,902,000 | 240,928,000 | 285,035,000 | 254,165,000 | 238,137,000 | 301,823,000 | 323,962,000 | 340,848,000 | 355,468,000 | 215,412,000 | 178,069,000 | 178,015,000 | 198,967,000 | 188,930,000 | 210,212,000 | 200,401,000 | 176,545,000 | 165,628,000 | 151,102,000 | 141,221,000 | 127,630,000 | 133,834,000 | 129,811,000 | 107,364,000 | 95,491,000 | 102,349,000 | 73,358,000 |
total current assets | 899,384,000 | 945,552,000 | 987,986,000 | 940,258,000 | 857,540,000 | 1,004,920,000 | 1,002,893,000 | 985,541,000 | 1,000,994,000 | 1,004,694,000 | 1,635,393,000 | 1,554,967,000 | 1,624,567,000 | 1,721,996,000 | 1,364,315,000 | 1,067,404,000 | 992,531,000 | 871,663,000 | 948,647,000 | 867,821,000 | 967,394,000 | 1,179,911,000 | 651,110,000 | 718,956,000 | 625,483,000 | 1,319,167,000 | 582,475,000 | 606,545,000 | 854,017,000 | 626,723,000 | 1,450,872,000 | 621,632,000 | 455,886,000 |
property and equipment | 273,167,000 | 243,398,000 | 240,810,000 | 240,770,000 | 242,290,000 | 247,183,000 | 259,554,000 | 263,004,000 | 261,275,000 | 283,170,000 | 276,179,000 | 340,898,000 | 356,067,000 | 375,968,000 | 376,968,000 | 362,071,000 | 364,108,000 | 334,862,000 | 325,349,000 | 326,657,000 | 325,716,000 | 324,201,000 | 333,686,000 | 340,111,000 | 328,731,000 | 337,449,000 | 356,911,000 | 331,010,000 | 326,565,000 | 308,671,000 | 318,827,000 | 327,823,000 | 332,445,000 |
subscriber system assets | 2,748,691,000 | 2,790,879,000 | 2,836,081,000 | 2,914,895,000 | 2,949,154,000 | 2,981,161,000 | 3,003,196,000 | 3,018,746,000 | 3,011,419,000 | 3,005,936,000 | 2,990,694,000 | 3,102,531,000 | 3,079,049,000 | 3,061,303,000 | 3,039,577,000 | 2,919,362,000 | 2,867,528,000 | 2,817,855,000 | 2,761,597,000 | 2,695,466,000 | 2,663,228,000 | 2,649,718,000 | 2,633,884,000 | 2,686,589,000 | 2,739,296,000 | 2,775,276,000 | 2,929,512,000 | 2,918,894,000 | 2,907,701,000 | 2,906,559,000 | 2,894,096,000 | 2,890,645,000 | 2,892,683,000 |
intangible assets | 4,829,452,000 | 4,817,996,000 | 4,867,486,000 | 4,875,837,000 | 4,806,326,000 | 4,854,099,000 | 4,898,878,000 | 4,835,809,000 | 4,843,986,000 | 4,877,493,000 | 4,823,473,000 | 5,004,029,000 | 5,019,815,000 | 5,091,747,000 | 5,185,952,000 | 5,285,664,000 | 5,413,351,000 | 5,520,747,000 | 5,649,464,000 | 5,809,295,000 | 5,906,690,000 | 6,046,728,000 | 6,234,528,000 | 6,475,283,000 | 6,669,645,000 | 6,815,587,000 | 7,225,974,000 | 7,349,315,000 | 7,488,194,000 | 7,488,118,000 | 7,568,606,000 | 7,715,553,000 | 7,856,775,000 |
goodwill | 4,999,172,000 | 4,885,574,000 | 4,885,574,000 | 4,903,899,000 | 4,903,899,000 | 4,903,899,000 | 4,903,899,000 | 4,903,899,000 | 4,903,899,000 | 4,903,899,000 | 4,903,899,000 | 5,344,329,000 | 5,626,514,000 | 5,818,605,000 | 5,822,076,000 | 5,940,758,000 | 5,943,403,000 | 5,244,942,000 | 5,244,685,000 | 5,242,973,000 | 5,236,302,000 | 5,217,275,000 | 5,219,361,000 | 5,217,400,000 | 4,959,658,000 | 4,956,917,000 | 5,145,477,000 | 5,132,911,000 | 5,081,887,000 | 5,088,325,000 | 5,075,681,000 | 5,078,370,000 | 5,070,586,000 |
deferred subscriber acquisition costs | 1,478,584,000 | 1,451,841,000 | 1,425,381,000 | 1,390,392,000 | 1,356,723,000 | 1,324,376,000 | 1,288,840,000 | 1,249,237,000 | 1,210,302,000 | 1,175,904,000 | 1,135,018,000 | 1,169,187,000 | 1,119,908,000 | 1,079,638,000 | 1,035,144,000 | 905,323,000 | 850,489,000 | 796,574,000 | 742,242,000 | 692,505,000 | 654,019,000 | 611,334,000 | 561,218,000 | 538,013,000 | 513,320,000 | 494,370,000 | 487,781,000 | 456,566,000 | 429,965,000 | 400,946,000 | 371,700,000 | 342,913,000 | 282,478,000 |
other assets | 684,198,000 | 683,271,000 | 737,875,000 | 706,019,000 | 714,133,000 | 735,319,000 | 726,732,000 | 727,023,000 | 712,308,000 | 712,998,000 | 771,077,000 | 818,438,000 | 719,777,000 | 723,568,000 | 743,863,000 | 534,199,000 | 462,941,000 | 435,279,000 | 403,902,000 | 376,931,000 | 363,587,000 | 336,900,000 | 324,453,000 | 286,391,000 | 247,519,000 | 248,323,000 | 249,039,000 | 238,456,000 | 120,279,000 | 148,242,000 | 135,850,000 | 131,988,000 | 123,967,000 |
total assets | 15,912,648,000 | 15,818,511,000 | 15,981,193,000 | 15,972,070,000 | 15,830,065,000 | 16,050,957,000 | 16,084,561,000 | 15,985,822,000 | 15,944,183,000 | 15,964,094,000 | 17,431,112,000 | 17,334,379,000 | 17,545,697,000 | 17,872,825,000 | 17,567,895,000 | 17,014,781,000 | 16,894,351,000 | 16,021,922,000 | 16,075,886,000 | 16,011,648,000 | 16,116,936,000 | 16,366,067,000 | 15,958,240,000 | 16,262,743,000 | 16,083,652,000 | 16,947,089,000 | 16,977,169,000 | 17,033,697,000 | 17,208,608,000 | 16,967,584,000 | 17,815,632,000 | 17,858,924,000 | 17,014,820,000 |
liabilities and stockholders' equity | |||||||||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||||||||
current maturities of long-term debt | 309,142,000 | 310,204,000 | 521,725,000 | 1,064,298,000 | 206,632,000 | 195,791,000 | 196,563,000 | 192,220,000 | 322,070,000 | 320,612,000 | 835,292,000 | 836,075,000 | 464,566,000 | 871,917,000 | 857,746,000 | 126,363,000 | 117,592,000 | 101,358,000 | 90,777,000 | 80,170,000 | 44,764,000 | 69,035,000 | 63,029,000 | 58,805,000 | 58,049,000 | 212,877,000 | 329,884,000 | 366,475,000 | 58,184,000 | 48,327,000 | 48,319,000 | 48,519,000 | 48,060,000 |
accounts payable | 113,178,000 | 106,980,000 | 166,884,000 | 187,125,000 | 132,739,000 | 153,537,000 | 226,614,000 | 222,113,000 | 260,137,000 | 293,883,000 | 275,557,000 | 375,312,000 | 397,666,000 | 486,715,000 | 489,948,000 | 449,542,000 | 474,976,000 | 361,020,000 | 357,045,000 | 348,441,000 | 321,595,000 | 273,100,000 | 213,148,000 | 284,123,000 | 241,954,000 | 296,990,000 | 275,081,000 | 249,416,000 | 221,341,000 | 206,135,000 | 196,920,000 | 200,853,000 | 187,695,000 |
deferred revenue | 247,075,000 | 243,724,000 | 247,483,000 | 252,856,000 | 252,880,000 | 247,785,000 | 249,920,000 | 247,414,000 | 252,080,000 | 264,398,000 | 271,900,000 | 385,639,000 | 395,201,000 | 402,691,000 | 428,861,000 | 373,863,000 | 373,532,000 | 339,182,000 | 347,483,000 | 355,773,000 | 345,582,000 | 341,146,000 | 347,764,000 | 349,298,000 | 342,359,000 | 343,875,000 | 340,100,000 | 340,201,000 | 334,886,000 | 310,766,000 | 316,249,000 | 319,192,000 | 309,157,000 |
accrued expenses and other current liabilities | 397,108,000 | 336,723,000 | 517,124,000 | 520,335,000 | 493,967,000 | 634,904,000 | 533,959,000 | 604,897,000 | 574,779,000 | 601,315,000 | 582,272,000 | 721,880,000 | 741,110,000 | 899,780,000 | 909,172,000 | 629,223,000 | 737,245,000 | 607,276,000 | 625,967,000 | 530,572,000 | 584,151,000 | 566,167,000 | 612,921,000 | 555,831,000 | 477,366,000 | 491,542,000 | 445,913,000 | 426,077,000 | 398,079,000 | 444,572,000 | 374,130,000 | 410,646,000 | 351,340,000 |
total current liabilities | 1,066,503,000 | 1,012,948,000 | 1,477,575,000 | 2,051,886,000 | 1,117,134,000 | 1,263,780,000 | 1,245,357,000 | 1,315,346,000 | 1,409,066,000 | 1,480,208,000 | 2,279,122,000 | 2,318,906,000 | 1,998,543,000 | 2,661,103,000 | 2,685,727,000 | 1,578,991,000 | 1,703,345,000 | 1,408,836,000 | 1,421,272,000 | 1,314,956,000 | 1,296,092,000 | 1,249,448,000 | 1,236,862,000 | 1,248,057,000 | 1,119,728,000 | 1,474,017,000 | 1,390,978,000 | 1,382,169,000 | 1,012,490,000 | 1,009,800,000 | 1,671,279,000 | 979,210,000 | 896,252,000 |
long-term debt | 7,359,722,000 | 7,379,430,000 | 7,284,108,000 | 6,751,094,000 | 7,612,702,000 | 7,511,282,000 | 7,524,523,000 | 7,532,250,000 | 7,566,878,000 | 7,523,349,000 | 8,832,409,000 | 8,834,725,000 | 9,375,568,000 | 8,956,671,000 | 8,945,314,000 | 9,735,304,000 | 9,575,098,000 | 9,508,341,000 | 9,471,195,000 | 9,445,820,000 | 9,447,780,000 | 9,675,430,000 | 9,685,322,000 | 9,899,058,000 | 9,634,226,000 | 9,638,118,000 | 9,481,059,000 | 9,347,601,000 | 9,944,112,000 | 9,519,504,000 | 9,522,457,000 | 9,527,952,000 | 10,121,126,000 |
deferred subscriber acquisition revenue | 2,079,449,000 | 2,083,580,000 | 2,087,721,000 | 2,090,428,000 | 2,078,616,000 | 2,067,608,000 | 2,058,273,000 | 2,034,660,000 | 1,975,886,000 | 1,914,954,000 | 1,849,142,000 | 1,826,454,000 | 1,735,298,000 | 1,645,478,000 | 1,554,764,000 | 1,308,260,000 | 1,199,293,000 | 1,098,769,000 | 1,000,558,000 | 900,458,000 | 832,166,000 | 768,356,000 | 701,129,000 | 683,862,000 | 673,625,000 | 644,741,000 | 629,810,000 | 583,460,000 | 544,429,000 | 505,188,000 | 460,307,000 | 413,317,000 | 368,669,000 |
deferred tax liabilities | 1,286,665,000 | 1,267,329,000 | 1,181,410,000 | 1,169,753,000 | 1,170,278,000 | 1,167,213,000 | 1,116,665,000 | 1,080,102,000 | 1,039,113,000 | 1,027,189,000 | 908,823,000 | 763,550,000 | 855,803,000 | 904,628,000 | 927,606,000 | 887,909,000 | 867,203,000 | 900,388,000 | 935,989,000 | 973,163,000 | 990,899,000 | 1,002,916,000 | 1,030,936,000 | 1,060,900,000 | 1,166,269,000 | 1,190,298,000 | 1,287,589,000 | 1,321,197,000 | 1,342,168,000 | 1,370,142,000 | 1,374,455,000 | 1,381,723,000 | 1,376,708,000 |
other liabilities | 320,517,000 | 282,262,000 | 281,991,000 | 235,549,000 | 219,966,000 | 224,384,000 | 230,231,000 | 199,713,000 | 217,459,000 | 229,748,000 | 215,991,000 | 272,732,000 | 265,959,000 | 271,842,000 | 247,630,000 | 224,050,000 | 300,693,000 | 365,272,000 | 392,250,000 | 399,341,000 | 510,663,000 | 531,441,000 | 509,876,000 | 476,040,000 | 305,435,000 | 288,731,000 | 297,874,000 | 251,239,000 | 140,604,000 | 126,956,000 | 125,292,000 | 124,975,000 | 136,504,000 |
total liabilities | 12,112,856,000 | 12,039,901,000 | 12,322,409,000 | 12,312,691,000 | 12,212,773,000 | 12,250,156,000 | 12,187,276,000 | 12,177,612,000 | 12,208,402,000 | 12,175,448,000 | 14,192,447,000 | 14,016,367,000 | 14,231,171,000 | 14,439,722,000 | 14,361,041,000 | 13,734,514,000 | 13,645,632,000 | 13,281,606,000 | 13,221,264,000 | 13,033,738,000 | 13,077,600,000 | 13,227,591,000 | 13,164,125,000 | 13,367,917,000 | 12,899,283,000 | 13,235,905,000 | 13,087,310,000 | 12,885,666,000 | 12,983,803,000 | 12,531,590,000 | 13,153,790,000 | 13,135,288,000 | 13,581,708,000 |
commitments and contingencies | |||||||||||||||||||||||||||||||||
stockholders' equity: | |||||||||||||||||||||||||||||||||
preferred stock—authorized 1,000,000 shares of 0.01 par value... | |||||||||||||||||||||||||||||||||
common stock—authorized 3,999,000,000 shares of 0.01 par value... | 7,503,000 | 7,652,000 | 7,650,000 | 7,780,000 | 7,882,000 | 8,366,000 | 8,573,000 | 8,571,000 | 8,556,000 | 8,674,000 | 8,668,000 | 8,664,000 | 8,668,000 | 8,621,000 | 8,586,000 | 8,513,000 | 8,468,000 | 7,764,000 | 7,763,000 | 7,749,000 | 7,710,000 | 7,707,000 | 7,704,000 | 7,701,000 | 7,536,000 | 7,500,000 | 7,464,000 | 7,670,000 | 7,669,000 | 7,668,000 | 1,052,000 | 1,052,000 | 2,000 |
class b common stock—authorized 100,000,000 shares of 0.01 par value... | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | 547,000 | |||||||||||||
additional paid-in capital | 6,563,279,000 | 6,679,222,000 | 6,666,054,000 | 6,764,716,000 | 6,840,189,000 | 7,117,098,000 | 7,358,241,000 | 7,347,061,000 | 7,317,895,000 | 7,413,305,000 | 7,407,164,000 | 7,390,269,000 | 7,380,867,000 | 7,380,759,000 | 7,273,501,000 | 7,262,237,000 | 7,261,267,000 | 6,677,875,000 | 6,665,145,000 | 6,644,332,000 | 6,640,763,000 | 6,613,866,000 | 6,139,135,000 | 6,114,409,000 | 5,977,402,000 | 5,930,174,000 | 5,888,576,000 | 5,993,668,000 | 5,969,347,000 | 5,947,280,000 | 5,935,377,000 | 5,890,377,000 | 4,435,329,000 |
accumulated deficit | -2,784,340,000 | -2,907,255,000 | -3,007,138,000 | -3,106,714,000 | -3,225,634,000 | -3,318,174,000 | -3,458,579,000 | -3,535,042,000 | -3,576,763,000 | -3,617,718,000 | -4,160,955,000 | -4,041,963,000 | -4,032,463,000 | -3,909,624,000 | -4,028,519,000 | -3,933,140,000 | -3,952,590,000 | -3,862,964,000 | -3,724,139,000 | -3,568,615,000 | -3,491,069,000 | -3,349,356,000 | -3,206,845,000 | -3,072,852,000 | -2,742,193,000 | -2,112,318,000 | -1,904,242,000 | -1,773,662,000 | -1,680,432,000 | -1,504,054,000 | -1,241,639,000 | -1,148,059,000 | -998,212,000 |
accumulated other comprehensive income | 12,803,000 | -1,556,000 | -8,329,000 | -6,950,000 | -5,692,000 | -7,036,000 | -11,497,000 | -12,927,000 | -14,454,000 | -16,162,000 | -16,759,000 | -39,505,000 | -43,093,000 | -47,200,000 | -47,261,000 | -68,973,000 | |||||||||||||||||
total stockholders' equity | 3,799,792,000 | 3,778,610,000 | 3,658,784,000 | 3,659,379,000 | 3,617,292,000 | 3,800,801,000 | 3,897,285,000 | 3,808,210,000 | 3,735,781,000 | 3,788,646,000 | 3,238,665,000 | 3,318,012,000 | 3,314,526,000 | 3,433,103,000 | 3,206,854,000 | 3,280,267,000 | 3,248,719,000 | 2,740,316,000 | 2,854,622,000 | 2,977,910,000 | 3,039,336,000 | 3,138,476,000 | 2,794,115,000 | 2,894,826,000 | 3,184,369,000 | 3,711,184,000 | 3,889,859,000 | 4,148,031,000 | 4,224,805,000 | 4,435,994,000 | 4,661,842,000 | 4,723,636,000 | 3,433,112,000 |
total liabilities and stockholders' equity | 15,912,648,000 | 15,818,511,000 | 15,981,193,000 | 15,972,070,000 | 15,830,065,000 | 16,050,957,000 | 16,084,561,000 | 15,985,822,000 | 15,944,183,000 | 15,964,094,000 | 17,431,112,000 | 17,334,379,000 | 17,545,697,000 | 17,872,825,000 | 17,567,895,000 | 17,014,781,000 | 16,894,351,000 | 16,021,922,000 | 16,075,886,000 | 16,011,648,000 | 16,116,936,000 | 16,366,067,000 | 15,958,240,000 | 16,262,743,000 | 16,083,652,000 | 16,947,089,000 | 16,977,169,000 | 17,033,697,000 | 17,208,608,000 | 16,967,584,000 | 17,815,632,000 | 17,858,924,000 | 17,014,820,000 |
current liabilities of discontinued operations | 15,317,000 | 24,359,000 | 27,272,000 | 30,916,000 | 31,763,000 | 38,301,000 | 48,702,000 | ||||||||||||||||||||||||||
noncurrent liabilities of discontinued operations | 14,352,000 | 9,604,000 | 13,981,000 | 14,077,000 | 15,889,000 | 12,227,000 | 15,541,000 | ||||||||||||||||||||||||||
current assets of discontinued operations | 3,322,000 | 6,190,000 | |||||||||||||||||||||||||||||||
noncurrent assets of discontinued operations | 569,000 | 2,563,000 | |||||||||||||||||||||||||||||||
work-in-progress | 6,427,000 | 7,299,000 | 62,745,000 | 72,273,000 | 80,765,000 | 91,925,000 | 75,930,000 | 70,528,000 | 55,176,000 | 49,715,000 | 43,235,000 | 41,312,000 | 45,238,000 | 39,777,000 | 35,661,000 | 34,183,000 | 40,386,000 | 27,997,000 | 24,991,000 | 26,137,000 | 28,481,000 | 30,194,000 | 23,291,000 | 21,252,000 | |||||||||
current assets held for sale | 450,297,000 | ||||||||||||||||||||||||||||||||
noncurrent assets held for sale | 895,379,000 | ||||||||||||||||||||||||||||||||
current liabilities held for sale | 314,101,000 | ||||||||||||||||||||||||||||||||
noncurrent liabilities held for sale | 106,960,000 | ||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -57,890,000 | -82,906,000 | -94,694,000 | -106,103,000 | -118,615,000 | -134,288,000 | -145,879,000 | -154,432,000 | -58,376,000 | -114,172,000 | -101,939,000 | -79,645,000 | -71,779,000 | -14,900,000 | -32,948,000 | -19,734,000 | -4,007,000 | ||||||||||||||||
preferred stock—authorized 1,000,000 and 250,000 shares of 0.01 par value as of december 31, 2020 and 2019, respectively; zero issued and outstanding | |||||||||||||||||||||||||||||||||
class b common stock | 547,000 | 547,000 | |||||||||||||||||||||||||||||||
preferred stock—authorized 1,000,000 and 250,000 shares of 0.01 par value as of september 30, 2020 and december 31, 2019, respectively; zero issued and outstanding. | |||||||||||||||||||||||||||||||||
preferred stock—authorized 250,000 shares of 0.01 par value... | |||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 44,337 and 39,765, respectively | 287,243,000 | ||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 41,812 and 39,765, respectively | 284,856,000 | ||||||||||||||||||||||||||||||||
assets held for sale | 591,427,000 | ||||||||||||||||||||||||||||||||
liabilities held for sale | 128,733,000 | ||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 43,892 and 39,765, respectively | 275,545,000 | ||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 40,631 and 39,765, respectively | 245,360,000 | ||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 39,765 and 34,042, respectively | 245,714,000 | ||||||||||||||||||||||||||||||||
mandatorily redeemable preferred securities—authorized 1,000,000 shares series a of 0.01 par value... | 708,111,000 | 682,449,000 | |||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 41,144 and 34,042, respectively | 154,629,000 | ||||||||||||||||||||||||||||||||
restricted cash and cash equivalents | 753,883,000 | ||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 36,059 and 34,042, respectively | 148,882,000 | ||||||||||||||||||||||||||||||||
current maturities of mandatorily redeemable preferred securities | 735,661,000 | ||||||||||||||||||||||||||||||||
current portion of restricted cash and cash equivalents | 3,883,000 | 3,883,000 | |||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 35,358 and 34,042, respectively | 151,350,000 | ||||||||||||||||||||||||||||||||
noncurrent restricted cash and cash equivalents | 750,000,000 | ||||||||||||||||||||||||||||||||
accounts receivable trade, less allowance for doubtful accounts of 34,042 and 28,109, respectively | 148,822,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||||||||||
net income | 145,132,000 | 165,179,000 | 140,246,000 | 189,957,000 | 127,151,000 | 92,394,000 | 91,551,000 | 575,872,000 | -86,237,000 | 63,072,000 | -89,698,000 | 151,443,000 | 51,645,000 | -57,947,000 | -109,129,000 | -112,061,000 | |||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||
depreciation and intangible asset amortization | 347,818,000 | 338,734,000 | 339,535,000 | 340,693,000 | 335,325,000 | 334,325,000 | 334,353,000 | 329,877,000 | 329,901,000 | 345,838,000 | 383,055,000 | 411,704,000 | 476,123,000 | 490,689,000 | 480,010,000 | 474,271,000 | 469,809,000 | 473,528,000 | 473,346,000 | 477,869,000 | 489,024,000 | 486,508,000 | 505,832,000 | 500,864,000 | 495,878,000 | 484,161,000 | 474,772,000 | 488,320,000 | 483,676,000 |
amortization of deferred subscriber acquisition costs | 64,040,000 | 62,149,000 | 60,358,000 | 59,193,000 | 56,119,000 | 54,730,000 | 54,605,000 | 50,106,000 | 50,525,000 | 48,479,000 | 46,684,000 | 44,748,000 | 36,939,000 | 34,725,000 | 32,534,000 | 30,188,000 | 28,642,000 | 26,597,000 | 24,810,000 | 22,789,000 | 22,627,000 | 21,584,000 | 20,784,000 | 19,528,000 | 18,232,000 | 17,052,000 | 15,724,000 | 14,305,000 | 12,847,000 |
amortization of deferred subscriber acquisition revenue | -90,005,000 | -89,618,000 | -88,871,000 | -88,671,000 | -87,980,000 | -86,182,000 | -83,376,000 | -80,953,000 | -79,719,000 | -75,910,000 | -72,022,000 | -68,461,000 | -53,423,000 | -49,153,000 | -45,020,000 | -40,729,000 | -37,159,000 | -34,458,000 | -31,329,000 | -29,540,000 | -29,477,000 | -28,778,000 | -28,034,000 | -26,133,000 | -24,339,000 | -22,755,000 | -20,826,000 | -18,790,000 | -16,765,000 |
share-based compensation expense | 10,716,000 | 11,649,000 | 20,521,000 | 9,284,000 | 9,942,000 | 21,416,000 | 7,971,000 | 8,069,000 | 15,580,000 | 11,506,000 | 15,982,000 | 16,922,000 | 16,020,000 | 15,389,000 | 16,242,000 | 13,587,000 | 16,019,000 | 21,255,000 | 26,431,000 | 24,828,000 | 23,499,000 | 20,500,000 | 18,876,000 | 22,540,000 | 23,710,000 | 22,107,000 | 17,803,000 | 45,814,000 | 49,288,000 |
deferred income taxes | 43,844,000 | -146,000 | 2,634,000 | 51,931,000 | 38,667,000 | 37,571,000 | 11,414,000 | 118,431,000 | 138,030,000 | -81,277,000 | -49,949,000 | -16,929,000 | 16,172,000 | -37,494,000 | -39,390,000 | -40,781,000 | -21,815,000 | -26,408,000 | -31,585,000 | -32,915,000 | -82,507,000 | -31,550,000 | -38,454,000 | -24,278,000 | -23,607,000 | -8,455,000 | -9,105,000 | -4,040,000 | -5,738,000 |
benefit from losses on receivables and inventory | 54,818,000 | 48,337,000 | 52,545,000 | 68,598,000 | 39,334,000 | 46,105,000 | 60,765,000 | 46,596,000 | 37,376,000 | 40,614,000 | 26,479,000 | 45,452,000 | 19,314,000 | 8,634,000 | 11,011,000 | 20,658,000 | |||||||||||||
loss on extinguishment of debt | 4,798,000 | 0 | 6,443,000 | 0 | 36,957,000 | 0 | 156,000 | 4,904,000 | 48,916,000 | 0 | 65,843,000 | 1,071,000 | 14,532,000 | 66,911,000 | 21,561,000 | 0 | 213,239,000 | 0 | 61,597,000 | ||||||||||
goodwill, intangible, and other asset impairments | 3,017,000 | 0 | 850,000 | 20,446,000 | 6,893,000 | 93,831,000 | 234,132,000 | 193,700,000 | |||||||||||||||||||||
unrealized (gain) loss on interest rate swap contracts | 15,330,000 | 16,835,000 | 25,041,000 | -15,968,000 | 62,872,000 | 8,402,000 | -10,146,000 | 76,974,000 | -16,380,000 | -54,613,000 | 32,516,000 | 10,752,000 | -145,289,000 | -42,415,000 | -23,033,000 | ||||||||||||||
other non-cash items | 14,465,000 | 19,620,000 | 18,987,000 | -88,023,000 | 11,390,000 | 21,699,000 | 20,845,000 | -2,756,000 | 50,191,000 | 24,051,000 | 28,601,000 | 20,167,000 | 65,445,000 | 49,370,000 | 28,854,000 | 31,985,000 | 38,815,000 | 41,584,000 | 25,606,000 | 28,765,000 | 48,579,000 | 33,892,000 | 35,927,000 | 38,479,000 | 29,478,000 | 21,999,000 | -4,347,000 | 1,929,000 | 498,000 |
changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||||||||||||
deferred subscriber acquisition costs | -99,289,000 | -95,903,000 | -92,787,000 | -94,812,000 | -88,195,000 | -93,748,000 | -89,086,000 | -91,078,000 | -110,312,000 | -97,967,000 | -87,161,000 | -89,457,000 | -92,837,000 | -88,887,000 | -87,122,000 | -80,191,000 | -67,402,000 | -69,591,000 | -75,382,000 | -46,671,000 | -48,194,000 | -42,123,000 | -50,215,000 | -51,697,000 | -45,953,000 | -48,897,000 | -46,967,000 | -45,961,000 | -42,849,000 |
deferred subscriber acquisition revenue | 58,051,000 | 57,537,000 | 57,828,000 | 55,919,000 | 61,525,000 | 68,912,000 | 65,918,000 | 67,787,000 | 73,274,000 | 74,944,000 | 73,529,000 | 73,454,000 | 81,073,000 | 75,300,000 | 71,687,000 | 71,684,000 | 58,170,000 | 55,253,000 | 54,582,000 | 30,325,000 | 39,714,000 | 57,975,000 | 66,992,000 | 71,969,000 | 62,908,000 | 63,141,000 | 65,384,000 | 66,169,000 | 61,804,000 |
other | -103,248,000 | 28,022,000 | -75,854,000 | 130,615,000 | -67,932,000 | 56,729,000 | -121,458,000 | 159,107,000 | -49,801,000 | -40,074,000 | -195,076,000 | 113,421,000 | -163,110,000 | 84,204,000 | -3,908,000 | 73,384,000 | -3,623,000 | 221,895,000 | -50,848,000 | -51,132,000 | -93,918,000 | 36,951,000 | -111,000 | -58,451,000 | 4,458,000 | -48,166,000 | -43,348,000 | -36,999,000 | 44,268,000 |
net cash from operating activities | 480,060,000 | 563,899,000 | 466,626,000 | 459,676,000 | 498,218,000 | 563,203,000 | 363,802,000 | 412,032,000 | 446,259,000 | 492,795,000 | 306,640,000 | 566,851,000 | 308,072,000 | 494,370,000 | 369,693,000 | 426,326,000 | 359,334,000 | 373,480,000 | 364,262,000 | 378,778,000 | 250,229,000 | 413,868,000 | 480,077,000 | 469,910,000 | 509,262,000 | 381,643,000 | 443,202,000 | 458,188,000 | 504,574,000 |
cash flows from investing activities: | |||||||||||||||||||||||||||||
dealer generated customer accounts and bulk account purchases | -156,915,000 | -224,098,000 | -106,899,000 | -112,249,000 | -213,504,000 | -142,462,000 | -117,594,000 | -203,176,000 | -133,311,000 | -136,333,000 | -115,818,000 | -121,208,000 | -185,070,000 | -162,814,000 | -172,649,000 | -140,894,000 | -198,761,000 | -115,585,000 | -120,668,000 | -82,216,000 | -62,247,000 | -155,196,000 | -180,641,000 | -170,513,000 | -163,333,000 | -166,871,000 | -199,101,000 | -167,946,000 | -159,607,000 |
subscriber system asset expenditures | -98,155,000 | -103,727,000 | -105,461,000 | -116,625,000 | -122,509,000 | -143,497,000 | -140,515,000 | -149,588,000 | -160,619,000 | -160,895,000 | -159,433,000 | -162,044,000 | -182,141,000 | -175,904,000 | -179,530,000 | -194,905,000 | -144,345,000 | -145,843,000 | -135,281,000 | ||||||||||
purchases of property and equipment | -42,643,000 | -37,632,000 | -45,420,000 | -33,691,000 | -42,723,000 | -46,702,000 | -40,689,000 | -45,833,000 | -41,173,000 | -30,132,000 | -59,215,000 | -40,983,000 | -38,317,000 | -41,560,000 | -42,687,000 | -42,486,000 | -41,505,000 | -44,874,000 | -36,072,000 | ||||||||||
proceeds (payments) from divestiture of businesses | |||||||||||||||||||||||||||||
proceeds (payments) from interest rate swaps | -652,000 | -635,000 | -743,000 | -1,593,000 | -2,446,000 | -2,413,000 | -1,816,000 | 23,566,000 | 22,904,000 | 19,958,000 | 16,322,000 | ||||||||||||||||||
other investing | -61,000 | 1,792,000 | 264,000 | -400,000 | 511,000 | 2,451,000 | 544,000 | 19,824,000 | 1,722,000 | 8,700,000 | -1,574,000 | 220,000 | 373,000 | 467,000 | 1,379,000 | 737,000 | 1,408,000 | 11,563,000 | 30,102,000 | 1,403,000 | 2,782,000 | 1,371,000 | 2,452,000 | 1,396,000 | -244,000 | -2,327,000 | -2,000 | 13,339,000 | 213,000 |
net cash from investing activities | -298,426,000 | -364,300,000 | -258,259,000 | -261,064,000 | -401,671,000 | -332,623,000 | -300,070,000 | 1,230,574,000 | -333,381,000 | -318,660,000 | -336,040,000 | -323,994,000 | -405,123,000 | -525,096,000 | -393,487,000 | -378,050,000 | -399,112,000 | -337,202,000 | -264,701,000 | -197,139,000 | -338,435,000 | 178,744,000 | -369,282,000 | -387,574,000 | -400,065,000 | -654,190,000 | -387,873,000 | -329,336,000 | -366,811,000 |
cash flows from financing activities: | |||||||||||||||||||||||||||||
proceeds from long-term borrowings | 609,500,000 | 93,000,000 | 637,000,000 | 98,386,000 | 65,000,000 | 810,521,000 | 95,000,000 | 217,178,000 | 0 | 50,000,000 | 600,000,000 | 70,035,000 | 280,000,000 | 185,000,000 | 1,000,000,000 | 0 | 10,729,000 | 0 | 1,000,000,000 | 0 | 1,640,000,000 | 25,000,000 | 1,421,629,000 | ||||||
repayment of long-term borrowings, including call premiums | -627,192,000 | -139,460,000 | -511,029,000 | -98,387,000 | -69,972,000 | -961,040,000 | -56,646,000 | -2,073,082,000 | -15,415,000 | -265,857,000 | -607,444,000 | -77,464,000 | -153,269,000 | -176,504,000 | -1,042,621,000 | -14,131,000 | -17,937,000 | -306,703,000 | -1,074,488,000 | -235,563,000 | -1,438,044,000 | -195,113,000 | -1,400,441,000 | -1,917,952,000 | -331,689,000 | -13,304,000 | -12,405,000 | -12,055,000 | -661,873,000 |
proceeds from receivables facility | 60,287,000 | 81,932,000 | 64,691,000 | 38,708,000 | 44,296,000 | 79,655,000 | 65,910,000 | 69,459,000 | 71,994,000 | 76,445,000 | 63,749,000 | 64,660,000 | 46,876,000 | 135,624,000 | 46,646,000 | 41,606,000 | 29,670,000 | 38,769,000 | 23,896,000 | ||||||||||
repayment of receivables facility | -58,968,000 | -38,355,000 | -76,397,000 | -53,925,000 | -45,034,000 | -99,729,000 | -57,984,000 | -55,765,000 | -52,238,000 | -47,950,000 | -44,432,000 | -39,574,000 | -20,876,000 | -102,130,000 | -11,522,000 | -9,326,000 | -7,367,000 | -4,286,000 | -2,033,000 | ||||||||||
repurchases of common stock, including excise tax | -111,656,000 | ||||||||||||||||||||||||||||
dividends on common stock | -45,802,000 | -47,080,000 | -48,918,000 | -50,052,000 | -50,042,000 | -49,965,000 | -32,207,000 | -32,187,000 | -32,171,000 | -32,191,000 | -32,038,000 | -31,961,000 | -31,596,000 | -29,184,000 | -29,115,000 | -29,069,000 | -28,980,000 | -29,030,000 | -26,975,000 | -27,032,000 | -26,291,000 | -530,912,000 | -3,448,000 | -3,926,000 | -26,481,000 | -26,480,000 | -26,694,000 | ||
payments on finance leases | -6,120,000 | -7,152,000 | -7,304,000 | -5,954,000 | -7,584,000 | -8,248,000 | -7,237,000 | -11,465,000 | -10,997,000 | -10,289,000 | -10,982,000 | -11,229,000 | |||||||||||||||||
other financing | -156,000 | 313,000 | 118,000 | 5,232,000 | -1,623,000 | 4,350,000 | -12,374,000 | 2,322,000 | -1,691,000 | -7,003,000 | -25,803,000 | 7,325,000 | -29,118,000 | -15,215,000 | -15,545,000 | -8,075,000 | -26,686,000 | -14,444,000 | -12,871,000 | -8,991,000 | -3,915,000 | -1,814,000 | -3,004,000 | 1,944,000 | -140,000 | -2,270,000 | -1,025,000 | -275,000 | -141,000 |
net cash from financing activities | -163,042,000 | -138,343,000 | -321,246,000 | -199,296,000 | -40,715,000 | -200,359,000 | -74,986,000 | -1,868,720,000 | -17,614,000 | -216,887,000 | -40,628,000 | 70,939,000 | 91,845,000 | -4,367,000 | -64,341,000 | -19,055,000 | -40,685,000 | -319,417,000 | 345,183,000 | -253,638,000 | 157,611,000 | -704,488,000 | 5,719,000 | -135,271,000 | -380,164,000 | 380,484,000 | -892,893,000 | -42,510,000 | 747,920,000 |
cash and cash equivalents and restricted cash and restricted cash equivalents: | |||||||||||||||||||||||||||||
net increase | 18,592,000 | 61,256,000 | -112,879,000 | 55,832,000 | 30,221,000 | -11,254,000 | 95,264,000 | -42,752,000 | -70,028,000 | ||||||||||||||||||||
beginning balance | 0 | 0 | 204,065,000 | 0 | 0 | 0 | 129,950,000 | 0 | 0 | 0 | 373,580,000 | 0 | 33,277,000 | 0 | |||||||||||||||
ending balance | 18,592,000 | 61,256,000 | 91,186,000 | -684,000 | 55,832,000 | 30,221,000 | 118,696,000 | -226,114,000 | 95,264,000 | -42,752,000 | 303,552,000 | 313,796,000 | 28,071,000 | -35,093,000 | |||||||||||||||
intangible and other asset impairments | |||||||||||||||||||||||||||||
repurchases of common stock | -396,564,000 | -147,200,000 | 0 | 0 | -93,356,000 | 0 | 0 | 0 | 0 | -128,014,000 | -21,854,000 | ||||||||||||||||||
(gain) loss on sales of businesses | |||||||||||||||||||||||||||||
change in fair value of other financial instruments | |||||||||||||||||||||||||||||
accounts receivable | |||||||||||||||||||||||||||||
long-term retail installment contracts | |||||||||||||||||||||||||||||
inventories and work-in-progress | |||||||||||||||||||||||||||||
other assets | |||||||||||||||||||||||||||||
accounts payable | |||||||||||||||||||||||||||||
accrued interest | |||||||||||||||||||||||||||||
accrued and other liabilities | |||||||||||||||||||||||||||||
proceeds (payments) from sale of business, net of cash sold | 3,494,000 | ||||||||||||||||||||||||||||
proceeds from issuance of common stock, net of expenses | |||||||||||||||||||||||||||||
proceeds (payments) from opportunity fund | |||||||||||||||||||||||||||||
net increase during the period | 313,796,000 | -5,206,000 | -35,093,000 | ||||||||||||||||||||||||||
acquisition of businesses, net of cash acquired | 1,000 | 32,000 | -147,092,000 | 0 | -502,000 | -15,909,000 | -42,463,000 | -2,782,000 | 197,000 | -179,569,000 | -13,404,000 | -18,801,000 | -22,618,000 | -53,893,000 | -304,346,000 | -12,259,000 | 0 | -36,214,000 | |||||||||||
sales of businesses, net of cash sold | |||||||||||||||||||||||||||||
changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | |||||||||||||||||||||||||||||
proceeds from sale of business, net of cash sold | |||||||||||||||||||||||||||||
changes in operating assets and liabilities, net of effects of acquisitions: | |||||||||||||||||||||||||||||
contract assets | |||||||||||||||||||||||||||||
sale of business, net of cash sold | 0 | 0 | |||||||||||||||||||||||||||
proceeds from opportunity fund | |||||||||||||||||||||||||||||
payments on interest rate swaps | 8,112,000 | ||||||||||||||||||||||||||||
goodwill impairment | 0 | ||||||||||||||||||||||||||||
intangible asset impairments | 0 | 0 | 17,883,000 | ||||||||||||||||||||||||||
change in fair value of financial instruments | |||||||||||||||||||||||||||||
deferred financing costs | -172,000 | -1,958,000 | -12,184,000 | -60,000 | -114,000 | -1,534,000 | -12,346,000 | -1,477,000 | -14,139,000 | -1,649,000 | -9,017,000 | ||||||||||||||||||
loss on sale of business | 0 | -19,000 | 680,000 | 77,000 | |||||||||||||||||||||||||
effect of currency translation on cash | 17,000 | 29,000 | 129,000 | 663,000 | -1,577,000 | 195,000 | -249,000 | -387,000 | |||||||||||||||||||||
proceeds from issuance of common stock | |||||||||||||||||||||||||||||
supplemental schedule of non-cash investing and financing activities not disclosed elsewhere: | |||||||||||||||||||||||||||||
issuance of shares for acquisition of business | 0 | 0 | 113,841,000 | ||||||||||||||||||||||||||
changes in operating assets and liabilities, net of the effects of acquisitions: | |||||||||||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash and restricted cash equivalents | |||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period | 0 | 207,747,000 | |||||||||||||||||||||||||||
cash and cash equivalents and restricted cash and restricted cash equivalents at end of period | 29,221,000 | 127,284,000 | |||||||||||||||||||||||||||
supplemental schedule of non-cash investing and financing activities: | |||||||||||||||||||||||||||||
net loss | -47,894,000 | -106,741,000 | -300,293,000 | -181,630,000 | -104,057,000 | -66,470,000 | -235,544,000 | -66,705,000 | -157,437,000 | ||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||||||
provision for losses on receivables and inventory | 14,250,000 | 32,184,000 | 45,692,000 | ||||||||||||||||||||||||||
unrealized loss on interest rate swap contracts | -106,517,000 | -8,311,000 | 28,337,000 | 69,563,000 | |||||||||||||||||||||||||
net increase in cash and cash equivalents and restricted cash and restricted cash equivalents | -80,463,000 | ||||||||||||||||||||||||||||
unrealized gain on interest rate swap contracts | |||||||||||||||||||||||||||||
changes in operating assets and liabilities, net of the effects of acquisitions and dispositions: | |||||||||||||||||||||||||||||
repayment of mandatorily redeemable preferred securities, including redemption premium | 0 | ||||||||||||||||||||||||||||
net increase in cash and cash equivalents and restricted cash and cash equivalents | 69,405,000 | -111,859,000 | 116,543,000 | -52,806,000 | -270,304,000 | 106,360,000 | -837,369,000 | ||||||||||||||||||||||
cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 0 | 0 | 48,736,000 | 0 | 0 | 0 | 367,162,000 | 0 | 0 | ||||||||||||||||||||
cash and cash equivalents and restricted cash and cash equivalents at end of period | 444,744,000 | -71,999,000 | 118,141,000 | -111,859,000 | 116,543,000 | -52,806,000 | 96,858,000 | 106,360,000 | -837,369,000 | ||||||||||||||||||||
issuance of shares in lieu of cash dividend | 4,000 | 4,000 | 3,000 | 22,563,000 | 0 | 22,441,000 | |||||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash and cash equivalents | |||||||||||||||||||||||||||||
subscriber system assets | -64,830,000 | -111,719,000 | -136,613,000 | -149,085,000 | -144,888,000 | -147,572,000 | -142,763,000 | -137,957,000 | |||||||||||||||||||||
capital expenditures | -42,643,000 | -37,632,000 | -45,420,000 | -33,691,000 | -42,723,000 | -46,702,000 | -40,689,000 | -45,833,000 | -41,173,000 | -30,132,000 | -59,215,000 | -40,983,000 | -38,317,000 | -41,560,000 | -42,687,000 | -42,486,000 | -41,505,000 | -44,874,000 | -36,072,000 | 0 | -34,571,000 | -38,706,000 | -35,679,000 | -46,754,000 | -37,707,000 | -32,648,000 | -28,939,000 | -31,966,000 | -33,246,000 |
free cash flows | 437,417,000 | 526,267,000 | 421,206,000 | 425,985,000 | 455,495,000 | 516,501,000 | 323,113,000 | 366,199,000 | 405,086,000 | 462,663,000 | 247,425,000 | 525,868,000 | 269,755,000 | 452,810,000 | 327,006,000 | 383,840,000 | 317,829,000 | 328,606,000 | 328,190,000 | 378,778,000 | 215,658,000 | 375,162,000 | 444,398,000 | 423,156,000 | 471,555,000 | 348,995,000 | 414,263,000 | 426,222,000 | 471,328,000 |
provision for losses on accounts receivable and inventory | 13,204,000 | 14,607,000 | 14,235,000 | 13,406,000 | 17,078,000 | 16,417,000 | 14,146,000 | 13,385,000 | |||||||||||||||||||||
proceeds from initial public offering, net of related fees | 0 | ||||||||||||||||||||||||||||
supplementary cash flow information: | |||||||||||||||||||||||||||||
interest paid, net of interest income | |||||||||||||||||||||||||||||
(refunds) payments on income taxes | |||||||||||||||||||||||||||||
issuance of shares in lieu of cash dividends | |||||||||||||||||||||||||||||
loss on business held for sale | |||||||||||||||||||||||||||||
amortization of deferred revenue fair value adjustment | |||||||||||||||||||||||||||||
subscriber system assets and deferred subscriber installation costs | |||||||||||||||||||||||||||||
proceeds received from settlement of derivative contracts | |||||||||||||||||||||||||||||
proceeds from issuance of mandatorily redeemable preferred securities | |||||||||||||||||||||||||||||
equity capital contributions | |||||||||||||||||||||||||||||
income taxes paid, net of refunds | |||||||||||||||||||||||||||||
proceeds from initial public offering, net of fees | -3,915,000 | 1,409,934,000 | |||||||||||||||||||||||||||
dividends | |||||||||||||||||||||||||||||
net increase in cash and cash equivalents and restricted cash | 885,296,000 | ||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of period | 126,782,000 | ||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of period | 1,012,078,000 | ||||||||||||||||||||||||||||
amortization of deferred subscriber acquisition costs and revenue | |||||||||||||||||||||||||||||
amortization of unearned revenue fair value adjustment | |||||||||||||||||||||||||||||
proceeds received from issuance of preferred securities | |||||||||||||||||||||||||||||
repayment of long-term borrowings | |||||||||||||||||||||||||||||
net increase in cash and cash equivalents | |||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | |||||||||||||||||||||||||||||
cash and cash equivalents at end of period |