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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/19/20 Dish DBS Corp. S-4 164:27M Toppan Merrill/FA Sling TV Holding LLC DISH Technologies LLC DISH Broadcasting Corp. Dish Network Service LLC Echosphere LLC Dish Operating L.L.C. DISH Network LLC |
Document/Exhibit Description Pages Size 1: S-4 Registration Statement - Securities for a Merger HTML 2.39M 2: EX-5.1 Opinion of Counsel re: Legality HTML 49K 3: EX-5.2 Opinion of Counsel re: Legality HTML 53K 4: EX-21 Subsidiaries List HTML 44K 5: EX-23.1 Consent of Expert or Counsel HTML 43K 6: EX-25.1 Statement of Eligibility to Act as a Trustee HTML 72K 7: EX-99.1 Miscellaneous Exhibit HTML 85K 8: EX-99.2 Miscellaneous Exhibit HTML 55K 15: R1 Document and Entity Information HTML 56K 16: R2 Consolidated Balance Sheets HTML 146K 17: R3 Consolidated Balance Sheets (Parenthetical) HTML 55K 18: R4 Consolidated Statements of Operations and HTML 132K Comprehensive Income (Loss) 19: R5 Consolidated Statements of Changes in HTML 103K Stockholder's Equity (Deficit) 20: R6 Consolidated Statements of Changes in HTML 46K Stockholder's Equity (Deficit) (Parenthetical) 21: R7 Consolidated Statements of Cash Flows HTML 116K 22: R8 Organization and Business Activities HTML 55K 23: R9 Summary of Significant Accounting Policies HTML 191K 24: R10 Supplemental Data - Statements of Cash Flows HTML 90K 25: R11 Marketable Investment Securities, Restricted Cash HTML 443K and Cash Equivalents, and Other Investment Securities 26: R12 Inventory HTML 82K 27: R13 Property and Equipment HTML 231K 28: R14 Leases HTML 338K 29: R15 Long-Term Debt and Finance Lease Obligations HTML 174K 30: R16 Income Taxes and Accounting for Uncertainty in HTML 195K Income Taxes 31: R17 Employee Benefit Plans HTML 67K 32: R18 Stock-Based Compensation HTML 371K 33: R19 Commitments and Contingencies HTML 319K 34: R20 Financial Information for Subsidiary Guarantors HTML 48K 35: R21 Disaggregation of Revenue HTML 146K 36: R22 Contract Balances HTML 111K 37: R23 Quarterly Financial Data (Unaudited) HTML 91K 38: R24 Related Party Transactions HTML 401K 39: R25 Summary of Significant Accounting Policies HTML 238K (Policies) 40: R26 Summary of Significant Accounting Policies HTML 80K (Tables) 41: R27 Supplemental Data - Statements of Cash Flows HTML 86K (Tables) 42: R28 Marketable Investment Securities, Restricted Cash HTML 427K and Cash Equivalents, and Other Investment Securities (Tables) 43: R29 Inventory (Tables) HTML 81K 44: R30 Property and Equipment (Tables) HTML 345K 45: R31 Leases (Tables) HTML 382K 46: R32 Long-Term Debt and Finance Lease Obligations HTML 206K (Tables) 47: R33 Income Taxes and Accounting for Uncertainty in HTML 194K Income Taxes (Tables) 48: R34 Employee Benefit Plans (Tables) HTML 62K 49: R35 Stock-Based Compensation (Tables) HTML 370K 50: R36 Commitments and Contingencies (Tables) HTML 116K 51: R37 Disaggregation of Revenue (Tables) HTML 144K 52: R38 Contract Balances (Tables) HTML 108K 53: R39 Quarterly Financial Data (Unaudited) (Tables) HTML 90K 54: R40 Related Party Transactions (Tables) HTML 203K 55: R41 Organization and Business Activities (Details) HTML 51K 56: R42 Summary of Significant Accounting Policies - HTML 59K Revenue Recognition (Details) 57: R43 Summary of Significant Accounting Policies - HTML 64K Leases (Details) 58: R44 Summary of Significant Accounting Policies - HTML 79K Impact of Adoption of ASU2016-02 (Details) 59: R45 Summary of Significant Accounting Policies - HTML 97K Principles of Consolidation and Research and Development (Details) 60: R46 Supplemental Data - Statements of Cash Flows HTML 60K (Details) 61: R47 Marketable Investment Securities, Restricted Cash HTML 74K and Cash Equivalents, and Other Investment Securities (Details) 62: R48 Marketable Investment Securities, Restricted Cash HTML 72K and Cash Equivalents, and Other Investment Securities - Unrealized Gains (Losses) On Marketable Investment Securities (Details) 63: R49 Marketable Investment Securities, Restricted Cash HTML 86K and Cash Equivalents, and Other Investment Securities - Fair Value Measurements (Details) 64: R50 Marketable Investment Securities, Restricted Cash HTML 61K and Cash Equivalents, and Other Investment Securities - Gains And Losses On Sales And Changes In Carrying Amounts Of Investments (Details) 65: R51 Inventory (Details) HTML 54K 66: R52 Property and Equipment (Details) HTML 100K 67: R53 Property and Equipment - Narrative (Details) HTML 69K 68: R54 Property and Equipment - Pay TV Satellites HTML 51K (Details) 69: R55 Property and Equipment and Intangible Assets - HTML 68K Intangible Assets (Details) 70: R56 Property and Equipment and Intangible Assets - HTML 64K Estimated future amortization (Details) 71: R57 Property and Equipment and Intangible Assets - FCC HTML 54K Authorizations (Details) 72: R58 Leases (Details) HTML 66K 73: R59 Leases - Components of lease expense (Details) HTML 58K 74: R60 Leases - Supplemental cash flow information HTML 58K (Details) 75: R61 Leases - Supplemental balance sheet information HTML 85K (Details) 76: R62 Leases - Maturities of lease liabilities (Details) HTML 113K 77: R63 Long-Term Debt and Finance Lease Obligations - HTML 119K Long term debt (Details) 78: R64 Long-Term Debt - Other Long-term Debt (Details) HTML 56K 79: R65 Long-Term Debt- Capital lease obligations HTML 57K (Details) 80: R66 Income Taxes and Accounting for Uncertainty in HTML 176K Income Taxes (Details) 81: R67 Employee Benefit Plans (Details) HTML 72K 82: R68 Stock-Based Compensation (Details) HTML 73K 83: R69 Stock-Based Compensation - Stock Options HTML 114K Outstanding And Exercisable Associated With Employees (Details) 84: R70 Stock-Based Compensation - Stock Option Activity HTML 82K (Details) 85: R71 Stock-Based Compensation - Tax Benefits From Stock HTML 48K Awards Exercised (Details) 86: R72 Stock-Based Compensation - Aggregate Intrinsic HTML 51K Value Of Stock Options (Details) 87: R73 Stock-Based Compensation - Restricted Stock Unit HTML 75K Activity (Details) 88: R74 Stock-Based Compensation - LTIP (Details) HTML 142K 89: R75 Stock-Based Compensation - Fair Value Of Stock HTML 64K Options Granted (Details) 90: R76 Commitments and Contingencies (Details) HTML 81K 91: R77 Commitments and Contingencies - Narrative HTML 127K (Details) 92: R78 Commitments and Contingencies - Narrative Part 2 HTML 146K (Details) 93: R79 Disaggregation of Revenue - Revenue by geographic HTML 53K location (Details) 94: R80 Disaggregation of Revenue - Revenue from external HTML 53K customers (Details) 95: R81 Contract Balances (Details) HTML 62K 96: R82 Quarterly Financial Data (Unaudited) (Details) HTML 54K 97: R83 Related Party Transactions (Details) HTML 121K 98: R84 Related Party Transactions - Narrative Part 1 HTML 68K (Details) 99: R85 Related Party Transactions - Narrative Part 2 HTML 117K (Details) 100: R86 Related Party Transactions - Narrative Part 3 HTML 84K (Details) 101: R87 Related Party Transactions - Narrative Part 4 HTML 59K (Details) 102: R88 Related Party Transactions - Part 5 (Details) HTML 90K 103: R89 Condensed Consolidated Balance Sheets HTML 148K 104: R90 Condensed Consolidated Balance Sheets HTML 55K (Parenthetical) 105: R91 Condensed Consolidated Statements of Operations HTML 136K and Comprehensive Income (Loss) 106: R92 Condensed Consolidated Statements of Changes in HTML 96K Stockholder's Equity (Deficit) 107: R93 Condensed Consolidated Statements of Cash Flows HTML 100K 108: R94 Organization and Business Activities HTML 55K 109: R95 Summary of Significant Accounting Policies HTML 191K 110: R96 Supplemental Data - Statements of Cash Flows HTML 90K 111: R97 Marketable Investment Securities, Restricted Cash HTML 443K and Cash Equivalents, and Other Investment Securities 112: R98 Inventory HTML 82K 113: R99 Property and Equipment HTML 164K 114: R100 Leases HTML 338K 115: R101 Long-Term Debt and Finance Lease Obligations HTML 101K 116: R102 Commitments and Contingencies HTML 319K 117: R103 Financial Information for Subsidiary Guarantors HTML 48K 118: R104 Disaggregation of Revenue HTML 146K 119: R105 Contract Balances HTML 111K 120: R106 Related Party Transactions HTML 401K 121: R107 Subsequent Events HTML 58K 122: R108 Summary of Significant Accounting Policies HTML 174K (Policies) 123: R109 Supplemental Data - Statements of Cash Flows HTML 86K (Tables) 124: R110 Marketable Investment Securities, Restricted Cash HTML 356K and Cash Equivalents, and Other Investment Securities (Tables) 125: R111 Inventory (Tables) HTML 81K 126: R112 Property and Equipment (Tables) HTML 278K 127: R113 Leases (Tables) HTML 336K 128: R114 Long-Term Debt and Finance Lease Obligations HTML 161K (Tables) 129: R115 Disaggregation of Revenue (Tables) HTML 144K 130: R116 Contract Balances (Tables) HTML 108K 131: R117 Related Party Transactions (Tables) HTML 203K 132: R118 Organization and Business Activities (Details) HTML 51K 133: R119 Summary of Significant Accounting Policies - HTML 51K Revenue Recognition (Details) 134: R120 Summary of Significant Accounting Policies - HTML 64K Leases (Details) 135: R121 Summary of Significant Accounting Policies - HTML 59K Principles of Consolidation and Research and Development (Details) 136: R122 Supplemental Data - Statements of Cash Flows HTML 58K (Details) 137: R123 Marketable Investment Securities, Restricted Cash HTML 70K and Cash Equivalents, and Other Investment Securities (Details) 138: R124 Marketable Investment Securities, Restricted Cash HTML 69K and Cash Equivalents, and Other Investment Securities - Fair Value Measurements (Details) 139: R125 Marketable Investment Securities, Restricted Cash HTML 58K and Cash Equivalents, and Other Investment Securities - Gains And Losses On Sales And Changes In Carrying Amounts Of Investments (Details) 140: R126 Inventory (Details) HTML 54K 141: R127 Property and Equipment (Details) HTML 85K 142: R128 Property and Equipment - Narrative (Details) HTML 71K 143: R129 Property and Equipment - Pay TV Satellites HTML 53K (Details) 144: R130 Leases (Details) HTML 66K 145: R131 Leases - Components of lease expense (Details) HTML 58K 146: R132 Leases - Supplemental cash flow information HTML 55K (Details) 147: R133 Leases - Supplemental balance sheet information HTML 80K (Details) 148: R134 Leases - Maturities of lease liabilities (Details) HTML 114K 149: R135 Long-Term Debt and Finance Lease Obligations - HTML 103K Long term debt (Details) 150: R136 Commitments and Contingencies - Narrative HTML 134K (Details) 151: R137 Commitments and Contingencies - Narrative Part 2 HTML 136K (Details) 152: R138 Disaggregation of Revenue - Revenue by geographic HTML 53K location (Details) 153: R139 Disaggregation of Revenue - Revenue from external HTML 53K customers (Details) 154: R140 Contract Balances (Details) HTML 62K 155: R141 Related Party Transactions (Details) HTML 110K 156: R142 Related Party Transactions - Narrative Part 1 HTML 65K (Details) 157: R143 Related Party Transactions - Narrative Part 2 HTML 157K (Details) 158: R144 Related Party Transactions - Narrative Part 3 HTML 80K (Details) 159: R145 Related Party Transactions - Narrative Part 4 HTML 62K (Details) 160: R146 Related Party Transactions - Part 5 (Details) HTML 87K 161: R147 Subsequent Events (Details) HTML 59K 163: XML IDEA XML File -- Filing Summary XML 320K 162: EXCEL IDEA Workbook of Financial Reports XLSX 317K 14: EX-101.INS XBRL Instance -- ddbs-20200819 XML 8.24M 10: EX-101.CAL XBRL Calculations -- ddbs-20200819_cal XML 331K 11: EX-101.DEF XBRL Definitions -- ddbs-20200819_def XML 1.63M 12: EX-101.LAB XBRL Labels -- ddbs-20200819_lab XML 2.30M 13: EX-101.PRE XBRL Presentations -- ddbs-20200819_pre XML 2.54M 9: EX-101.SCH XBRL Schema -- ddbs-20200819 XSD 406K 164: ZIP XBRL Zipped Folder -- 0001104659-20-096921-xbrl Zip 577K
tm2027156-1_s4 - none - 42.4762404s |
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Colorado
(State or other jurisdiction of incorporation or organization) |
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4899
(Primary standard industrial classification code number) |
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84-1328967
(I.R.S. Employer Identification Number) |
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Large accelerated filer
☐
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Accelerated filer
☐
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Non-accelerated filer
☒
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Smaller reporting company
☐
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Emerging growth company
☐
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CALCULATION OF REGISTRATION FEE
|
| ||||||||||||||||||||||||||||
|
Title of Each Class of
Securities to be Registered |
| | |
Amount to be
Registered |
| | |
Proposed
Maximum Offering Price Per Note(1) |
| | |
Proposed
Maximum Aggregate Offering Price(1) |
| | |
Amount of
Registration Fee |
| ||||||||||||
|
7.375% Senior Notes due 2028
|
| | | | $ | 1,000,000,000 | | | | | | | 100% | | | | | | $ | 1,000,000,000 | | | | | | $ | 129,800 | | |
|
Guarantees of 7.375% Senior Notes due 2028(3)
|
| | | |
|
(2
)
|
| | | | |
|
(2
)
|
| | | | |
|
(2
)
|
| | | | |
|
(2
)
|
| |
|
Exact Name of Additional Registrants as
Specified in their Respective Charters* |
| |
Jurisdiction of Incorporation/
Organization |
| |
IRS Employer Identification No.
|
|
|
DISH Network L.L.C.
|
| |
Colorado
|
| |
84-1114039
|
|
|
DISH Operating L.L.C.
|
| |
Colorado
|
| |
20-0715965
|
|
|
Echosphere L.L.C.
|
| |
Colorado
|
| |
84-0833457
|
|
|
DISH Network Service L.L.C.
|
| |
Colorado
|
| |
84-1195952
|
|
|
DISH Broadcasting Corporation
|
| |
Colorado
|
| |
37-1848590
|
|
|
DISH Technologies L.L.C.
|
| |
Colorado
|
| |
76-0033570
|
|
|
Sling TV Holding L.L.C.
|
| |
Colorado
|
| |
46-0593221
|
|
| | | | | ii | | | |
| | | | | iii | | | |
| | | | | 1 | | | |
| | | | | 11 | | | |
| | | | | 42 | | | |
| | | | | 45 | | | |
| | | | | 75 | | | |
| | | | | 76 | | | |
| | | | | 83 | | | |
| | | | | 120 | | | |
| | | | | 121 | | | |
| | | | | 122 | | | |
| | | | | 124 | | | |
| | | | | 125 | | | |
| | | | | 127 | | | |
| | | | | 128 | | | |
| | | | | 128 | | | |
| | | | | 128 | | | |
| | | | | F-1 | | | |
| | | | | F-70 | | |
| | |
For the Years Ended December 31,
|
| |
For the Six Months
Ended June 30, |
| ||||||||||||||||||||||||||||||||||||
| | | | |
2016
|
| |
2017
|
| |
2018
|
| |
2019
|
| |
2019
|
| |
2020
|
| ||||||||||||||||||||||
| | |
(dollars in millions)
|
| | | | | | | | | | | | | |||||||||||||||||||||||||||
Statements of Operations Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total revenue
|
| | | $ | 14,796 | | | | | $ | 14,756 | | | | | $ | 14,008 | | | | | $ | 13,362 | | | | | $ | 12,623 | | | | | $ | 6,305 | | | | | $ | 6,316 | | |
Operating income
|
| | | | 2,149 | | | | | | 2,309 | | | | | | 1,610 | | | | | | 2,067 | | | | | | 1,821 | | | | | | 867 | | | | | | 1,171 | | |
Net income attributable to DISH DBS
|
| | | | 835 | | | | | | 965 | | | | | | 724 | | | | | | 971 | | | | | | 828 | | | | | | 363 | | | | | | 619 | | |
| | |
As of June 30, 2020
|
| |||
| | |
(dollars in millions)
|
| |||
Balance Sheet Data: | | | | | | | |
Cash, cash equivalents and current marketable investment securities
|
| | | $ | 27 | | |
Total assets
|
| | | | 4,156 | | |
Long-term debt and finance lease obligations (including current portion) (1)
|
| | | | 9,701 | | |
Total stockholder’s equity (deficit)
|
| | | $ | (10,306) | | |
| | |
As of or for the Years Ended December 31,
|
| | | |||||||||||||||||||||||||||||||||||||
| | | | |
2016
|
| |
2017
|
| |
2018
|
| |
2019
|
| |
2019
|
| |
2020
|
| ||||||||||||||||||||||
| | |
(dollars in millions)
|
| | | | | | | | | | | | | |||||||||||||||||||||||||||
Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay-TV subscribers, as of period
end (thousands) (unaudited) |
| | | | 13,897 | | | | | | 13,671 | | | | | | 13,242 | | | | | | 12,322 | | | | | | 11,986 | | | | | | 12,032 | | | | | | 11,272 | | |
EBITDA (unaudited)(2)
|
| | | $ | 3,037 | | | | | $ | 3,174 | | | | | $ | 2,438 | | | | | $ | 2,734 | | | | | $ | 2,406 | | | | | $ | 1,162 | | | | | $ | 1,430 | | |
Net cash flows from: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating activities
|
| | | $ | 1,974 | | | | | $ | 1,834 | | | | | $ | 1,287 | | | | | $ | 1,197 | | | | | $ | 1,385 | | | | | $ | 765 | | | | | $ | 1,360 | | |
Investing activities
|
| | | | 618 | | | | | | (393) | | | | | | (578) | | | | | | (282) | | | | | | (166) | | | | | | (262) | | | | | | (144) | | |
Financing activities
|
| | | | (8,934) | | | | | | (1,084) | | | | | | (1,122) | | | | | | (1,150) | | | | | | (1,271) | | | | | | (34) | | | | | | (1,206) | | |
| | |
For the Years Ended December 31,
|
| | | |||||||||||||||||||||||||||||||||||||
| | | | |
2016
|
| |
2017
|
| |
2018
|
| |
2019
|
| |
2019
|
| |
2020
|
| ||||||||||||||||||||||
| | |
(dollars in millions)
|
| | | |||||||||||||||||||||||||||||||||||||
EBITDA (unaudited)
|
| | | $ | 3,037 | | | | | $ | 3,174 | | | | | $ | 2,438 | | | | | $ | 2,734 | | | | | $ | 2,406 | | | | | $ | 1,162 | | | | | $ | 1,430 | | |
Interest expense, net
|
| | | | (857) | | | | | | (819) | | | | | | (855) | | | | | | (784) | | | | | | (726) | | | | | | (382) | | | | | | (345) | | |
Income tax provision, net
|
| | | | (474) | | | | | | (558) | | | | | | (117) | | | | | | (318) | | | | | | (275) | | | | | | (126) | | | | | | (208) | | |
Depreciation and amortization
|
| | | | (871) | | | | | | (832) | | | | | | (742) | | | | | | (661) | | | | | | (577) | | | | | | (291) | | | | | | (258) | | |
Net income attributable to DISH DBS
|
| | | $ | 835 | | | | | $ | 965 | | | | | $ | 724 | | | | | $ | 971 | | | | | $ | 828 | | | | | $ | 363 | | | | | $ | 619 | | |
| | | | | | | | |
Leased From
|
| |||||||||||||||
Description/Use/Location
|
| |
Owned
|
| |
EchoStar
|
| |
DISH
|
| |
Other
Third Party |
| ||||||||||||
Corporate headquarters, Englewood, Colorado(1)
|
| | | | | | | | | | X | | | | | | | | | | | | | | |
Customer call center and general offices, Roseland, New Jersey
|
| | | | | | | | | | | | | | | | | | | | | | X | | |
Customer call center, Bluefield, West Virginia
|
| | | | X | | | | | | | | | | | | | | | | | | | | |
Customer call center, Christiansburg, Virginia
|
| | | | | | | | | | | | | | | | | | | | | | X | | |
Customer call center, Harlingen, Texas
|
| | | | X | | | | | | | | | | | | | | | | | | | | |
Customer call center, Hilliard, Ohio
|
| | | | | | | | | | | | | | | | | | | | | | X | | |
Customer call center, Littleton, Colorado(2)
|
| | | | | | | | | | | | | | | | X | | | | | | | | |
Customer call center, Phoenix, Arizona
|
| | | | | | | | | | | | | | | | | | | | | | X | | |
Customer call center, Thornton, Colorado
|
| | | | X | | | | | | | | | | | | | | | | | | | | |
Customer call center, Tulsa, Oklahoma
|
| | | | | | | | | | | | | | | | | | | | | | X | | |
Customer call center, warehouse, service, and remanufacturing center, El Paso, Texas
|
| | | | X | | | | | | | | | | | | | | | | | | | | |
Data Center, Cheyenne, Wyoming(2)
|
| | | | | | | | | | | | | | | | X | | | | | | | | |
Digital broadcast operations center, Cheyenne, Wyoming(3)
|
| | | | X | | | | | | | | | | | | | | | | | | | | |
Digital broadcast operations center, Gilbert, Arizona(3)
|
| | | | X | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | |
Leased From
|
| |||||||||
Description/Use/Location
|
| |
Owned
|
| |
EchoStar
|
| |
DISH
|
| |
Other
Third Party |
| ||||||
Engineering offices and service center, Englewood, Colorado(3)
|
| | | | X | | | | | | | | | | | | | | |
Engineering office, American Fork, Utah(3)
|
| | | | | | | | | | | | | | | | X | | |
Engineering office, Bangalore, India(3)
|
| | | | | | | | | | | | | | | | X | | |
Engineering office, Foster City, California(3)
|
| | | | | | | | | | | | | | | | X | | |
Engineering office, Kharkov, Ukraine(3)
|
| | | | | | | | | | | | | | | | X | | |
Engineering office, Superior, Colorado(3)
|
| | | | | | | | | | | | | | | | X | | |
IT development center, Denver, Colorado
|
| | | | | | | | | | | | | | | | X | | |
Micro digital broadcast operations center, Lockhart, Texas(3)
|
| | | | X | | | | | | | | | | | | | | |
Regional digital broadcast operations center, Monee, Illinois(3)
|
| | | | X | | | | | | | | | | | | | | |
Regional digital broadcast operations center, New Braunfels, Texas (3)
|
| | | | X | | | | | | | | | | | | | | |
Regional digital broadcast operations center, Quicksburg, Virginia (3)
|
| | | | X | | | | | | | | | | | | | | |
Regional digital broadcast operations center, Spokane, Washington (3)
|
| | | | X | | | | | | | | | | | | | | |
Service and remanufacturing center, Spartanburg, South Carolina
|
| | | | | | | | | | | | | | | | X | | |
Warehouse and distribution center, Denver, Colorado
|
| | | | | | | | | | | | | | | | X | | |
Warehouse and distribution center, Atlanta, Georgia
|
| | | | | | | | | | | | | | | | X | | |
Warehouse, Denver, Colorado
|
| | | | X | | | | | | | | | | | | | | |
| | |
For the Three Months Ended
June 30, |
| |
Variance
|
| ||||||||||||||||||
Statements of Operations Data
|
| |
2020
|
| |
2019
|
| |
Amount
|
| |
%
|
| ||||||||||||
| | | | | | | | |
(In thousands)
|
| | | |||||||||||||
Revenue: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related revenue
|
| | | $ | 3,117,334 | | | | | $ | 3,117,066 | | | | | $ | 268 | | | | | | 0.0 | | |
Equipment sales and other revenue
|
| | | | 31,197 | | | | | | 49,533 | | | | | | (18,336) | | | | | | (37.0) | | |
Total revenue
|
| | | | 3,148,531 | | | | | | 3,166,599 | | | | | | (18,068) | | | | | | (0.6) | | |
Costs and Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related expenses
|
| | | | 1,863,895 | | | | | | 1,974,439 | | | | | | (110,544) | | | | | | (5.6) | | |
% of Subscriber-related revenue
|
| | | | 59.8% | | | | | | 63.3% | | | | | | | | | | | | | | |
Satellite and transmission expenses
|
| | | | 117,912 | | | | | | 144,983 | | | | | | (27,071) | | | | | | (18.7) | | |
% of Subscriber-related revenue
|
| | | | 3.8% | | | | | | 4.7% | | | | | | | | | | | | | | |
Cost of sales – equipment and other
|
| | | | 23,660 | | | | | | 49,603 | | | | | | (25,943) | | | | | | (52.3) | | |
Subscriber acquisition costs
|
| | | | 199,724 | | | | | | 238,078 | | | | | | (38,354) | | | | | | (16.1) | | |
General and administrative expenses
|
| | | | 156,574 | | | | | | 187,930 | | | | | | (31,356) | | | | | | (16.7) | | |
% of Total revenue
|
| | | | 5.0% | | | | | | 5.9% | | | | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 122,869 | | | | | | 135,600 | | | | | | (12,731) | | | | | | (9.4) | | |
Total costs and expenses
|
| | | | 2,484,634 | | | | | | 2,730,633 | | | | | | (245,999) | | | | | | (9.0) | | |
Operating income (loss)
|
| | | | 663,897 | | | | | | 435,966 | | | | | | 227,931 | | | | | | 52.3 | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 1,112 | | | | | | 5,593 | | | | | | (4,481) | | | | | | (80.1) | | |
Interest expense, net of amounts capitalized
|
| | | | (164,047) | | | | | | (194,857) | | | | | | 30,810 | | | | | | 15.8 | | |
Other, net
|
| | | | (152) | | | | | | 3,131 | | | | | | (3,283) | | | | | | * | | |
Total other income (expense)
|
| | | | (163,087) | | | | | | (186,133) | | | | | | 23,046 | | | | | | 12.4 | | |
Income (loss) before income taxes
|
| | | | 500,810 | | | | | | 249,833 | | | | | | 250,977 | | | | | | * | | |
Income tax (provision) benefit, net
|
| | | | (125,830) | | | | | | (64,465) | | | | | | (61,365) | | | | | | (95.2) | | |
Effective tax rate
|
| | | | 25.1% | | | | | | 25.8% | | | | | | | | | | | | | | |
Net income (loss)
|
| | | | 374,980 | | | | | | 185,368 | | | | | | 189,612 | | | | | | * | | |
Less: Net income (loss) attributable to noncontrolling interests, net of tax
|
| | | | — | | | | | | — | | | | | | — | | | | | | * | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 374,980 | | | | | $ | 185,368 | | | | | $ | 189,612 | | | | | | * | | |
Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay-TV subscribers, as of period end (in millions)**
|
| | | | 11.272 | | | | | | 12.032 | | | | | | (0.760) | | | | | | (6.3) | | |
DISH TV subscribers, as of period end (in millions)**
|
| | | | 9.017 | | | | | | 9.560 | | | | | | (0.543) | | | | | | (5.7) | | |
SLING TV subscribers, as of period end (in millions)
|
| | | | 2.255 | | | | | | 2.472 | | | | | | (0.217) | | | | | | (8.8) | | |
Pay-TV subscriber additions (losses), net (in millions)**
|
| | | | (0.096) | | | | | | (0.031) | | | | | | (0.065) | | | | | | * | | |
DISH TV subscriber additions (losses), net (in millions)**
|
| | | | (0.040) | | | | | | (0.079) | | | | | | 0.039 | | | | | | 49.4 | | |
SLING TV subscriber additions (losses), net (in millions)
|
| | | | (0.056) | | | | | | 0.048 | | | | | | (0.104) | | | | | | * | | |
Pay-TV ARPU
|
| | | $ | 92.17 | | | | | $ | 86.34 | | | | | $ | 5.83 | | | | | | 6.8 | | |
DISH TV subscriber additions, gross (in millions)
|
| | | | 0.268 | | | | | | 0.348 | | | | | | (0.080) | | | | | | (23.0) | | |
DISH TV churn rate
|
| | | | 1.14% | | | | | | 1.48% | | | | | | (0.34)% | | | | | | (23.0) | | |
DISH TV SAC
|
| | | $ | 834 | | | | | $ | 786 | | | | | $ | 48 | | | | | | 6.1 | | |
EBITDA
|
| | | $ | 786,614 | | | | | $ | 574,697 | | | | | $ | 211,917 | | | | | | 36.9 | | |
| | |
For the Three Months Ended
June 30, |
| |||||||||
| | | | |
2019
|
| |||||||
| | | | | | | | |
(In thousands)
|
| |||
EBITDA
|
| | | $ | 786,614 | | | | | $ | 574,697 | | |
Interest, net
|
| | | | (162,935) | | | | | | (189,264) | | |
Income tax (provision) benefit, net
|
| | | | (125,830) | | | | | | (64,465) | | |
Depreciation and amortization
|
| | | | (122,869) | | | | | | (135,600) | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 374,980 | | | | | $ | 185,368 | | |
| | |
For the Six Months Ended
June 30, |
| |
Variance
|
| ||||||||||||||||||
Statements of Operations Data
|
| |
2020
|
| |
2019
|
| |
Amount
|
| |
%
|
| ||||||||||||
| | | | | | | | |
(In thousands)
|
| | | |||||||||||||
Revenue: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related revenue
|
| | | $ | 6,248,234 | | | | | $ | 6,215,002 | | | | | $ | 33,232 | | | | | | 0.5 | | |
Equipment sales and other revenue
|
| | | | 68,079 | | | | | | 89,597 | | | | | | (21,518) | | | | | | (24.0) | | |
Total revenue
|
| | | | 6,316,313 | | | | | | 6,304,599 | | | | | | 11,714 | | | | | | 0.2 | | |
Costs and Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related expenses
|
| | | | 3,797,718 | | | | | | 3,950,875 | | | | | | (153,157) | | | | | | (3.9) | | |
% of Subscriber-related revenue
|
| | | | 60.8% | | | | | | 63.6% | | | | | | | | | | | | | | |
Satellite and transmission expenses
|
| | | | 239,973 | | | | | | 299,880 | | | | | | (59,907) | | | | | | (20.0) | | |
% of Subscriber-related revenue
|
| | | | 3.8% | | | | | | 4.8% | | | | | | | | | | | | | | |
Cost of sales – equipment and other
|
| | | | 54,474 | | | | | | 89,944 | | | | | | (35,470) | | | | | | (39.4) | | |
Subscriber acquisition costs
|
| | | | 453,597 | | | | | | 431,977 | | | | | | 21,620 | | | | | | 5.0 | | |
General and administrative expenses
|
| | | | 341,498 | | | | | | 374,507 | | | | | | (33,009) | | | | | | (8.8) | | |
% of Total revenue
|
| | | | 5.4% | | | | | | 5.9% | | | | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 257,954 | | | | | | 290,715 | | | | | | (32,761) | | | | | | (11.3) | | |
Total costs and expenses
|
| | | | 5,145,214 | | | | | | 5,437,898 | | | | | | (292,684) | | | | | | (5.4) | | |
Operating income (loss)
|
| | | | 1,171,099 | | | | | | 866,701 | | | | | | 304,398 | | | | | | 35.1 | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 1,962 | | | | | | 8,528 | | | | | | (6,566) | | | | | | (77.0) | | |
Interest expense, net of amounts capitalized
|
| | | | (346,387) | | | | | | (390,502) | | | | | | 44,115 | | | | | | 11.3 | | |
Other, net
|
| | | | 793 | | | | | | 4,564 | | | | | | (3,771) | | | | | | (82.6) | | |
Total other income (expense)
|
| | | | (343,632) | | | | | | (377,410) | | | | | | 33,778 | | | | | | 8.9 | | |
Income (loss) before income taxes
|
| | | | 827,467 | | | | | | 489,291 | | | | | | 338,176 | | | | | | 69.1 | | |
Income tax (provision) benefit, net
|
| | | | (208,334) | | | | | | (126,287) | | | | | | (82,047) | | | | | | (65.0) | | |
Effective tax rate
|
| | | | 25.2% | | | | | | 25.8% | | | | | | | | | | | | | | |
Net income (loss)
|
| | | | 619,133 | | | | | | 363,004 | | | | | | 256,129 | | | | | | 70.6 | | |
Less: Net income (loss) attributable to noncontrolling interests, net of tax
|
| | | | — | | | | | | (124) | | | | | | 124 | | | | | | * | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 619,133 | | | | | $ | 363,128 | | | | | $ | 256,005 | | | | | | 70.5 | | |
Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay-TV subscribers, as of period end (in millions)
|
| | | | 11.272 | | | | | | 12.032 | | | | | | (0.760) | | | | | | (6.3) | | |
DISH TV subscribers, as of period end (in millions)
|
| | | | 9.017 | | | | | | 9.560 | | | | | | (0.543) | | | | | | (5.7) | | |
SLING TV subscribers, as of period end (in millions)
|
| | | | 2.255 | | | | | | 2.472 | | | | | | (0.217) | | | | | | (8.8) | | |
Pay-TV subscriber additions (losses), net (in millions)
|
| | | | (0.509) | | | | | | (0.290) | | | | | | (0.219) | | | | | | (75.5) | | |
DISH TV subscriber additions (losses), net (in millions)
|
| | | | (0.172) | | | | | | (0.345) | | | | | | 0.173 | | | | | | 50.1 | | |
SLING TV subscriber additions (losses), net
(in millions) |
| | | | (0.337) | | | | | | 0.055 | | | | | | (0.392) | | | | | | * | | |
Pay-TV ARPU
|
| | | $ | 90.43 | | | | | $ | 85.68 | | | | | $ | 4.75 | | | | | | 5.5 | | |
DISH TV subscriber additions, gross (in millions)
|
| | | | 0.567 | | | | | | 0.591 | | | | | | (0.024) | | | | | | (4.1) | | |
DISH TV churn rate
|
| | | | 1.34% | | | | | | 1.61% | | | | | | (0.27)% | | | | | | (16.8) | | |
DISH TV SAC
|
| | | $ | 849 | | | | | $ | 803 | | | | | $ | 46 | | | | | | 5.7 | | |
EBITDA
|
| | | $ | 1,429,846 | | | | | $ | 1,162,104 | | | | | $ | 267,742 | | | | | | 23.0 | | |
| | |
For the Six Months Ended
June 30, |
| |||||||||
| | | | |
2019
|
| |||||||
| | |
(In thousands)
|
| |||||||||
EBITDA
|
| | | $ | 1,429,846 | | | | | $ | 1,162,104 | | |
Interest, net
|
| | | | (344,425) | | | | | | (381,974) | | |
Income tax (provision) benefit, net
|
| | | | (208,334) | | | | | | (126,287) | | |
Depreciation and amortization
|
| | | | (257,954) | | | | | | (290,715) | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 619,133 | | | | | $ | 363,128 | | |
|
| | |
For the Years Ended
December 31, |
| |
Variance
|
| ||||||||||||||||||
Statements of Operations Data
|
| |
2019
|
| |
2018
|
| |
Amount
|
| |
%
|
| ||||||||||||
| | | | | | | | |
(In thousands)
|
| | | |||||||||||||
Revenue: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related revenue
|
| | | $ | 12,436,637 | | | | | $ | 13,197,994 | | | | | $ | (761,357) | | | | | | (5.8) | | |
Equipment sales and other revenue
|
| | | | 186,256 | | | | | | 164,145 | | | | | | 22,111 | | | | | | 13.5 | | |
Total revenue
|
| | | | 12,622,893 | | | | | | 13,362,139 | | | | | | (739,246) | | | | | | (5.5) | | |
Costs and Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related expenses
|
| | | | 7,768,732 | | | | | | 8,392,150 | | | | | | (623,418) | | | | | | (7.4) | | |
% of Subscriber-related revenue
|
| | | | 62.5% | | | | | | 63.6% | | | | | | | | | | | | | | |
Satellite and transmission expenses
|
| | | | 555,803 | | | | | | 637,160 | | | | | | (81,357) | | | | | | (12.8) | | |
% of Subscriber-related revenue
|
| | | | 4.5% | | | | | | 4.8% | | | | | | | | | | | | | | |
Cost of sales – equipment and other
|
| | | | 172,700 | | | | | | 143,671 | | | | | | 29,029 | | | | | | 20.2 | | |
Subscriber acquisition costs
|
| | | | 994,523 | | | | | | 769,307 | | | | | | 225,216 | | | | | | 29.3 | | |
General and administrative expenses
|
| | | | 732,589 | | | | | | 692,881 | | | | | | 39,708 | | | | | | 5.7 | | |
% of Total revenue
|
| | | | 5.8% | | | | | | 5.2% | | | | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 577,348 | | | | | | 660,460 | | | | | | (83,112) | | | | | | (12.6) | | |
Total costs and expenses
|
| | | | 10,801,695 | | | | | | 11,295,629 | | | | | | (493,934) | | | | | | (4.4) | | |
Operating income (loss)
|
| | | | 1,821,198 | | | | | | 2,066,510 | | | | | | (245,312) | | | | | | (11.9) | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 30,041 | | | | | | 8,923 | | | | | | 21,118 | | | | | | * | | |
Interest expense, net of amounts capitalized
|
| | | | (756,690) | | | | | | (792,436) | | | | | | 35,746 | | | | | | 4.5 | | |
Other, net
|
| | | | 7,609 | | | | | | 8,994 | | | | | | (1,385) | | | | | | (15.4) | | |
Total other income (expense)
|
| | | | (719,040) | | | | | | (774,519) | | | | | | 55,479 | | | | | | 7.2 | | |
Income (loss) before income taxes
|
| | | | 1,102,158 | | | | | | 1,291,991 | | | | | | (189,833) | | | | | | (14.7) | | |
Income tax (provision) benefit, net
|
| | | | (274,751) | | | | | | (318,305) | | | | | | 43,554 | | | | | | 13.7 | | |
Effective tax rate
|
| | | | 24.9% | | | | | | 24.6% | | | | | | | | | | | | | | |
Net income (loss)
|
| | | | 827,407 | | | | | | 973,686 | | | | | | (146,279) | | | | | | (15.0) | | |
Less: Net income (loss) attributable to noncontrolling interests, net of tax
|
| | | | (124) | | | | | | 2,399 | | | | | | (2,523) | | | | | | * | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 827,531 | | | | | $ | 971,287 | | | | | $ | (143,756) | | | | | | (14.8) | | |
|
| | |
For the Years Ended
December 31, |
| |
Variance
|
| ||||||||||||||||||
Statements of Operations Data
|
| |
2019
|
| |
2018
|
| |
Amount
|
| |
%
|
| ||||||||||||
| | | | | | | | |
(In thousands)
|
| | | |||||||||||||
Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay-TV subscribers, as of period end (in millions)
|
| | | | 11.986 | | | | | | 12.322 | | | | | | (0.336) | | | | | | (2.7) | | |
DISH TV subscribers, as of period end (in millions)
|
| | | | 9.394 | | | | | | 9.905 | | | | | | (0.511) | | | | | | (5.2) | | |
Sling TV subscribers, as of period end (in millions)
|
| | | | 2.592 | | | | | | 2.417 | | | | | | 0.175 | | | | | | 7.2 | | |
Pay-TV subscriber additions (losses), net (in millions)
|
| | | | (0.336) | | | | | | (0.920) | | | | | | 0.584 | | | | | | 63.5 | | |
DISH TV subscriber additions (losses), net (in millions)
|
| | | | (0.511) | | | | | | (1.125) | | | | | | 0.614 | | | | | | 54.6 | | |
Sling TV subscriber additions (losses), net (in millions)
|
| | | | 0.175 | | | | | | 0.205 | | | | | | (0.030) | | | | | | (14.6) | | |
Pay-TV ARPU
|
| | | $ | 85.92 | | | | | $ | 85.46 | | | | | $ | 0.46 | | | | | | 0.5 | | |
DISH TV subscriber additions, gross (in millions)
|
| | | | 1.348 | | | | | | 1.114 | | | | | | 0.234 | | | | | | 21.0 | | |
DISH TV churn rate
|
| | | | 1.62% | | | | | | 1.78% | | | | | | (0.16)% | | | | | | (9.0) | | |
DISH TV SAC
|
| | | $ | 822 | | | | | $ | 759 | | | | | $ | 63 | | | | | | 8.3 | | |
EBITDA
|
| | | $ | 2,406,279 | | | | | $ | 2,733,565 | | | | | $ | (327,286) | | | | | | (12.0) | | |
| | |
For the Years Ended December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
EBITDA
|
| | | $ | 2,406,279 | | | | | $ | 2,733,565 | | |
Interest, net
|
| | | | (726,649) | | | | | | (783,513) | | |
Income tax (provision) benefit, net
|
| | | | (274,751) | | | | | | (318,305) | | |
Depreciation and amortization
|
| | | | (577,348) | | | | | | (660,460) | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 827,531 | | | | | $ | 971,287 | | |
| | |
For the Years Ended December 31,
|
| |
Variance
|
| ||||||||||||||||||
Statements of Operations Data
|
| |
2018
|
| |
2017
|
| |
Amount
|
| |
%
|
| ||||||||||||
| | | | | | | | |
(In thousands)
|
| | | |||||||||||||
Revenue: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related revenue
|
| | | $ | 13,197,994 | | | | | $ | 13,877,196 | | | | | $ | (679,202) | | | | | | (4.9) | | |
Equipment sales and other revenue
|
| | | | 164,145 | | | | | | 130,315 | | | | | | 33,830 | | | | | | 26.0 | | |
Total revenue
|
| | | | 13,362,139 | | | | | | 14,007,511 | | | | | | (645,372) | | | | | | (4.6) | | |
Costs and Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related expenses
|
| | | | 8,392,150 | | | | | | 8,692,676 | | | | | | (300,526) | | | | | | (3.5) | | |
% of Subscriber-related revenue
|
| | | | 63.6% | | | | | | 62.6% | | | | | | | | | | | | | | |
Satellite and transmission expenses
|
| | | | 637,160 | | | | | | 717,231 | | | | | | (80,071) | | | | | | (11.2) | | |
% of Subscriber-related revenue
|
| | | | 4.8% | | | | | | 5.2% | | | | | | | | | | | | | | |
Cost of sales – equipment and other
|
| | | | 143,671 | | | | | | 95,116 | | | | | | 48,555 | | | | | | 51.0 | | |
Subscriber acquisition costs
|
| | | | 769,307 | | | | | | 1,185,211 | | | | | | (415,904) | | | | | | (35.1) | | |
General and administrative expenses
|
| | | | 692,881 | | | | | | 669,934 | | | | | | 22,947 | | | | | | 3.4 | | |
% of Total revenue
|
| | | | 5.2% | | | | | | 4.8% | | | | | | | | | | | | | | |
Litigation expense
|
| | | | — | | | | | | 295,695 | | | | | | (295,695) | | | | | | * | | |
Depreciation and amortization
|
| | | | 660,460 | | | | | | 741,772 | | | | | | (81,312) | | | | | | (11.0) | | |
Total costs and expenses
|
| | | | 11,295,629 | | | | | | 12,397,635 | | | | | | (1,102,006) | | | | | | (8.9) | | |
Operating income (loss)
|
| | | | 2,066,510 | | | | | | 1,609,876 | | | | | | 456,634 | | | | | | 28.4 | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 8,923 | | | | | | 9,855 | | | | | | (932) | | | | | | (9.5) | | |
Interest expense, net of amounts capitalized
|
| | | | (792,436) | | | | | | (865,181) | | | | | | 72,745 | | | | | | 8.4 | | |
Other, net
|
| | | | 8,994 | | | | | | 88,511 | | | | | | (79,517) | | | | | | (89.8) | | |
Total other income (expense)
|
| | | | (774,519) | | | | | | (766,815) | | | | | | (7,704) | | | | | | (1.0) | | |
Income (loss) before income taxes
|
| | | | 1,291,991 | | | | | | 843,061 | | | | | | 448,930 | | | | | | 53.3 | | |
Income tax (provision) benefit, net
|
| | | | (318,305) | | | | | | (117,616) | | | | | | (200,689) | | | | | | * | | |
Effective tax rate
|
| | | | 24.6% | | | | | | 14.0% | | | | | | | | | | | | | | |
Net income (loss)
|
| | | | 973,686 | | | | | | 725,445 | | | | | | 248,241 | | | | | | 34.2 | | |
Less: Net income (loss) attributable to noncontrolling interests, net of tax
|
| | | | 2,399 | | | | | | 1,919 | | | | | | 480 | | | | | | 25.0 | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 971,287 | | | | | $ | 723,526 | | | | | $ | 247,761 | | | | | | 34.2 | | |
Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay-TV subscribers, as of period end (in millions)
|
| | | | 12.322 | | | | | | 13.242 | | | | | | (0.920) | | | | | | (6.9) | | |
DISH TV subscribers, as of period end
(in millions) |
| | | | 9.905 | | | | | | 11.030 | | | | | | (1.125) | | | | | | (10.2) | | |
Sling TV subscribers, as of period end
(in millions) |
| | | | 2.417 | | | | | | 2.212 | | | | | | 0.205 | | | | | | 9.3 | | |
Pay-TV subscriber additions (losses), net
(in millions) |
| | | | (0.920) | | | | | | (0.284) | | | | | | (0.636) | | | | | | * | | |
DISH TV subscriber additions (losses), net (in millions)
|
| | | | (1.125) | | | | | | (0.995) | | | | | | (0.130) | | | | | | (13.1) | | |
Sling TV subscriber additions (losses), net (in millions)
|
| | | | 0.205 | | | | | | 0.711 | | | | | | (0.506) | | | | | | (71.2) | | |
Pay-TV ARPU
|
| | | $ | 85.46 | | | | | $ | 86.43 | | | | | $ | (0.97) | | | | | | (1.1) | | |
DISH TV subscriber additions, gross (in millions)
|
| | | | 1.114 | | | | | | 1.477 | | | | | | (0.363) | | | | | | (24.6) | | |
DISH TV churn rate
|
| | | | 1.78% | | | | | | 1.78% | | | | | | —% | | | | | | * | | |
DISH TV SAC
|
| | | $ | 759 | | | | | $ | 751 | | | | | $ | 8 | | | | | | 1.1 | | |
EBITDA
|
| | | $ | 2,733,565 | | | | | $ | 2,438,240 | | | | | $ | 295,325 | | | | | | 12.1 | | |
| | |
For the Years Ended December 31,
|
| |||||||||
| | | | |
2017
|
| |||||||
| | |
(In thousands)
|
| |||||||||
EBITDA
|
| | | $ | 2,733,565 | | | | | $ | 2,438,240 | | |
Interest, net
|
| | | | (783,513) | | | | | | (855,326) | | |
Income tax (provision) benefit, net
|
| | | | (318,305) | | | | | | (117,616) | | |
Depreciation and amortization
|
| | | | (660,460) | | | | | | (741,772) | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 971,287 | | | | | $ | 723,526 | | |
Year
|
| |
Percentage
|
| |||
2023
|
| | | | 103.6875% | | |
2024
|
| | | | 101.8438% | | |
2025 and thereafter
|
| | | | 100.0000% | | |
| | |
As of June 30, 2020
|
| |||||||||
| | |
Actual
|
| |
As Adjusted
|
| ||||||
| | |
(in millions)
|
| |||||||||
Cash, cash equivalents and current marketable investment securities
|
| | | $ | 27 | | | | | $ | 1,025 | | |
Debt | | | | | | | | | | | | | |
63∕4% Senior Notes due 2021
|
| | | | 2,000 | | | | | | 2,000 | | |
57∕8% Senior Notes due 2022
|
| | | | 2,000 | | | | | | 2,000 | | |
5% Senior Notes due 2023
|
| | | | 1,500 | | | | | | 1,500 | | |
57∕8% Senior Notes due 2024
|
| | | | 2,000 | | | | | | 2,000 | | |
7 3∕4 Senior Notes due 2026
|
| | | | 2,000 | | | | | | 2,000 | | |
7 3∕8 Senior Notes due 2028
|
| | | | — | | | | | | 1,000 | | |
Finance lease obligations and other notes payable, including current portion
|
| | | | 215 | | | | | | 215 | | |
Unamortized deferred financing costs and debt discounts, net
|
| | | | (14) | | | | | | (15) | | |
Total long-term debt and Finance lease obligations (including current portion)
|
| | | | 9,701 | | | | | | 10,700 | | |
Total stockholder’s equity (deficit)
|
| | | | (10,306) | | | | | | (10,306) | | |
Total capitalization
|
| | | $ | (605) | | | | | $ | 394 | | |
Series
|
| |
Principal Amount
(as of June 30, 2020) |
| |
Redeemable Beginning
|
| |
Maturity
|
| |||
| | |
(dollars in millions)
|
| | | | | | | |||
63∕4% Senior Notes due 2021
|
| | | $ | 2,000 | | | | At any time on payment of “make-whole” premium | | | June 1, 2021 | |
57∕8% Senior Notes due 2022
|
| | | $ | 2,000 | | | | At any time on payment of “make-whole” premium | | | July 15, 2022 | |
5% Senior Notes due 2023
|
| | | $ | 1,500 | | | | At any time on payment of “make-whole” premium | | | March 15, 2023 | |
57∕8% Senior Notes due 2024
|
| | | $ | 2,000 | | | | At any time on payment of “make-whole” premium | | | | |
7 3∕4 Senior Notes due 2026
|
| | | $ | 2,000 | | | | At any time on payment of “make-whole” premium | | | July 1, 2026 | |
| | |
Page
|
| |||
Consolidated Financial Statements: | | | | | | | |
| | | | F-2 | | | |
| | | | F-3 | | | |
| | | | F-4 | | | |
| | | | F-5 | | | |
| | | | F-6 | | | |
| | | | F-7 | | |
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
Assets | | | | | | | | | | | | | |
Current Assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 17,426 | | | | | $ | 129,498 | | |
Marketable investment securities
|
| | | | — | | | | | | 149,740 | | |
Trade accounts receivable, net of allowance for doubtful accounts of $19,280
and $16,956, respectively |
| | | | 568,679 | | | | | | 623,602 | | |
Inventory
|
| | | | 321,983 | | | | | | 290,697 | | |
Other current assets
|
| | | | 164,767 | | | | | | 234,054 | | |
Total current assets
|
| | | | 1,072,855 | | | | | | 1,427,591 | | |
Noncurrent Assets: | | | | | | | | | | | | | |
Restricted cash, cash equivalents and marketable investment securities
|
| | | | 61,067 | | | | | | 67,597 | | |
Property and equipment, net
|
| | | | 1,751,573 | | | | | | 1,377,949 | | |
FCC authorizations
|
| | | | 611,794 | | | | | | 637,346 | | |
Other investment securities
|
| | | | 106,874 | | | | | | 108,308 | | |
Operating lease assets
|
| | | | 553,576 | | | | | | — | | |
Other noncurrent assets, net
|
| | | | 228,820 | | | | | | 286,753 | | |
Total noncurrent assets
|
| | | | 3,313,704 | | | | | | 2,477,953 | | |
Total assets
|
| | | $ | 4,386,559 | | | | | $ | 3,905,544 | | |
Liabilities and Stockholder’s Equity (Deficit) | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Trade accounts payable
|
| | | $ | 266,417 | | | | | $ | 217,268 | | |
Advances from affiliates
|
| | | | 82,415 | | | | | | — | | |
Deferred revenue and other
|
| | | | 674,079 | | | | | | 644,920 | | |
Accrued programming
|
| | | | 1,308,531 | | | | | | 1,474,207 | | |
Accrued interest
|
| | | | 189,039 | | | | | | 222,996 | | |
Other accrued expenses
|
| | | | 918,333 | | | | | | 756,534 | | |
Current portion of long-term debt and finance lease obligations
|
| | | | 1,151,108 | | | | | | 1,338,527 | | |
Total current liabilities
|
| | | | 4,589,922 | | | | | | 4,654,452 | | |
Long-Term Obligations, Net of Current Portion: | | | | | | | | | | | | | |
Long-term debt and finance lease obligations, net of current portion
|
| | | | 9,671,255 | | | | | | 10,632,960 | | |
Deferred tax liabilities
|
| | | | 501,857 | | | | | | 461,452 | | |
Operating lease liabilities
|
| | | | 350,155 | | | | | | — | | |
Long-term deferred revenue and other long-term liabilities
|
| | | | 207,992 | | | | | | 198,840 | | |
Total long-term obligations, net of current portion
|
| | | | 10,731,259 | | | | | | 11,293,252 | | |
Total liabilities
|
| | | | 15,321,181 | | | | | | 15,947,704 | | |
Commitments and Contingencies (Note 12) | | | | | | | | | | | | | |
Stockholder’s Equity (Deficit): | | | | | | | | | | | | | |
Common stock, $.01 par value, 1,000,000 shares authorized, 1,015 shares issued and outstanding
|
| | | | — | | | | | | — | | |
Additional paid-in capital
|
| | | | 1,432,736 | | | | | | 1,152,369 | | |
Accumulated other comprehensive income (loss)
|
| | | | (449) | | | | | | (376) | | |
Accumulated earnings (deficit)
|
| | | | (12,366,909) | | | | | | (13,194,440) | | |
Total DISH DBS stockholder’s equity (deficit)
|
| | | | (10,934,622) | | | | | | (12,042,447) | | |
Noncontrolling interests
|
| | | | — | | | | | | 287 | | |
Total stockholder’s equity (deficit)
|
| | | | (10,934,622) | | | | | | (12,042,160) | | |
Total liabilities and stockholder’s equity (deficit)
|
| | | $ | 4,386,559 | | | | | $ | 3,905,544 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
Revenue: | | | | | | | | | | | | | | | | | | | |
Subscriber-related revenue
|
| | | $ | 12,436,637 | | | | | $ | 13,197,994 | | | | | $ | 13,877,196 | | |
Equipment sales and other revenue
|
| | | | 186,256 | | | | | | 164,145 | | | | | | 130,315 | | |
Total revenue
|
| | | | 12,622,893 | | | | | | 13,362,139 | | | | | | 14,007,511 | | |
Costs and Expenses (exclusive of depreciation shown separately
below – Note 6): |
| | | | | | | | | | | | | | | | | | |
Subscriber-related expenses
|
| | | | 7,768,732 | | | | | | 8,392,150 | | | | | | 8,692,676 | | |
Satellite and transmission expenses
|
| | | | 555,803 | | | | | | 637,160 | | | | | | 717,231 | | |
Cost of sales – equipment and other
|
| | | | 172,700 | | | | | | 143,671 | | | | | | 95,116 | | |
Subscriber acquisition costs: | | | | | | | | | | | | | | | | | | | |
Cost of sales – subscriber promotion subsidies
|
| | | | 29,592 | | | | | | 50,253 | | | | | | 72,955 | | |
Other subscriber acquisition costs
|
| | | | 444,993 | | | | | | 292,824 | | | | | | 563,952 | | |
Subscriber acquisition advertising
|
| | | | 519,938 | | | | | | 426,230 | | | | | | 548,304 | | |
Total subscriber acquisition costs
|
| | | | 994,523 | | | | | | 769,307 | | | | | | 1,185,211 | | |
General and administrative expenses
|
| | | | 732,589 | | | | | | 692,881 | | | | | | 669,934 | | |
Litigation expense (Note 12)
|
| | | | — | | | | | | — | | | | | | 295,695 | | |
Depreciation and amortization (Note 6)
|
| | | | 577,348 | | | | | | 660,460 | | | | | | 741,772 | | |
Total costs and expenses
|
| | | | 10,801,695 | | | | | | 11,295,629 | | | | | | 12,397,635 | | |
Operating income (loss)
|
| | | | 1,821,198 | | | | | | 2,066,510 | | | | | | 1,609,876 | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 30,041 | | | | | | 8,923 | | | | | | 9,855 | | |
Interest expense, net of amounts capitalized
|
| | | | (756,690) | | | | | | (792,436) | | | | | | (865,181) | | |
Other, net
|
| | | | 7,609 | | | | | | 8,994 | | | | | | 88,511 | | |
Total other income (expense)
|
| | | | (719,040) | | | | | | (774,519) | | | | | | (766,815) | | |
Income (loss) before income taxes
|
| | | | 1,102,158 | | | | | | 1,291,991 | | | | | | 843,061 | | |
Income tax (provision) benefit, net
|
| | | | (274,751) | | | | | | (318,305) | | | | | | (117,616) | | |
Net income (loss)
|
| | | | 827,407 | | | | | | 973,686 | | | | | | 725,445 | | |
Less: Net income (loss) attributable to noncontrolling interests, net of tax
|
| | | | (124) | | | | | | 2,399 | | | | | | 1,919 | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 827,531 | | | | | $ | 971,287 | | | | | $ | 723,526 | | |
Comprehensive Income (Loss): | | | | | | | | | | | | | | | | | | | |
Net income (loss)
|
| | | $ | 827,407 | | | | | $ | 973,686 | | | | | $ | 725,445 | | |
Other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | |
Foreign currency translation adjustments
|
| | | | (133) | | | | | | (1,343) | | | | | | 1,027 | | |
Unrealized holding gains (losses) on available-for-sale securities
|
| | | | 81 | | | | | | 69 | | | | | | (33) | | |
Deferred income tax (expense) benefit, net
|
| | | | (21) | | | | | | (37) | | | | | | 57 | | |
Total other comprehensive income (loss), net of tax
|
| | | | (73) | | | | | | (1,311) | | | | | | 1,051 | | |
Comprehensive income (loss)
|
| | | | 827,334 | | | | | | 972,375 | | | | | | 726,496 | | |
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax
|
| | | | (124) | | | | | | 2,399 | | | | | | 1,919 | | |
Comprehensive income (loss) attributable to DISH DBS
|
| | | $ | 827,458 | | | | | $ | 969,976 | | | | | $ | 724,577 | | |
| | |
Common
Stock |
| |
Additional
Paid-In Capital |
| |
Accumulated
Other Comprehensive Income (Loss) |
| |
Accumulated
Earnings (Deficit) |
| |
Noncontrolling
Interests |
| |
Total
|
| ||||||||||||||||||
Balance, December 31, 2016
|
| | | $ | — | | | | | $ | 1,097,606 | | | | | $ | (116) | | | | | $ | (14,891,573) | | | | | $ | 1,933 | | | | | $ | (13,792,150) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 29,941 | | | | | | — | | | | | | — | | | | | | — | | | | | | 29,941 | | |
Change in unrealized holding gains (losses) on available-for-sale securities, net
|
| | | | — | | | | | | — | | | | | | (33) | | | | | | — | | | | | | — | | | | | | (33) | | |
Deferred income tax (expense) benefit attributable to unrealized gains (losses) on available-for-sale securities
|
| | | | — | | | | | | — | | | | | | 57 | | | | | | — | | | | | | — | | | | | | 57 | | |
Foreign currency translation
|
| | | | | | | | | | | | | | | | 1,027 | | | | | | | | | | | | | | | | | | 1,027 | | |
Payments made to parent of transferred businesses
|
| | | | — | | | | | | (7,372) | | | | | | — | | | | | | — | | | | | | 274 | | | | | | (7,098) | | |
Net income (loss) attributable to noncontrolling interests
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,919 | | | | | | 1,919 | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 723,526 | | | | | | — | | | | | | 723,526 | | |
Other
|
| | | | — | | | | | | (3,327) | | | | | | — | | | | | | — | | | | | | (525) | | | | | | (3,852) | | |
Balance, December 31, 2017
|
| | | $ | — | | | | | $ | 1,116,848 | | | | | $ | 935 | | | | | $ | (14,168,047) | | | | | $ | 3,601 | | | | | $ | (13,046,663) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 35,521 | | | | | | — | | | | | | — | | | | | | — | | | | | | 35,521 | | |
Change in unrealized holding gains (losses) on available-for-sale securities, net
|
| | | | — | | | | | | — | | | | | | 69 | | | | | | — | | | | | | — | | | | | | 69 | | |
Deferred income tax (expense) benefit attributable to unrealized gains (losses) on available-for-sale securities
|
| | | | — | | | | | | — | | | | | | (37) | | | | | | — | | | | | | — | | | | | | (37) | | |
Foreign currency translation
|
| | | | — | | | | | | — | | | | | | (1,343) | | | | | | — | | | | | | — | | | | | | (1,343) | | |
ASU 2014-09 cumulative catch-up adjustment
|
| | | | | | | | | | | | | | | | | | | | | | 2,320 | | | | | | | | | | | | 2,320 | | |
Net income (loss) attributable to noncontrolling interests
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,399 | | | | | | 2,399 | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 971,287 | | | | | | — | | | | | | 971,287 | | |
Other
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (5,713) | | | | | | (5,713) | | |
Balance, December 31, 2018
|
| | | $ | — | | | | | $ | 1,152,369 | | | | | $ | (376) | | | | | $ | (13,194,440) | | | | | $ | 287 | | | | | $ | (12,042,160) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 13,853 | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,853 | | |
Change in unrealized holding gains (losses) on available-for-sale securities, net
|
| | | | — | | | | | | — | | | | | | 81 | | | | | | — | | | | | | — | | | | | | 81 | | |
Deferred income tax (expense) benefit attributable to unrealized gains (losses) on available-for-sale securities
|
| | | | — | | | | | | | | | | | | (21) | | | | | | — | | | | | | — | | | | | | (21) | | |
Foreign currency translation
|
| | | | — | | | | | | — | | | | | | (133) | | | | | | — | | | | | | — | | | | | | (133) | | |
Satellite and Spectrum Transaction, net of deferred taxes of $29,075
|
| | | | — | | | | | | 267,437 | | | | | | — | | | | | | — | | | | | | (163) | | | | | | 267,274 | | |
Net income (loss) attributable to noncontrolling interests
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (124) | | | | | | (124) | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 827,531 | | | | | | — | | | | | | 827,531 | | |
Other
|
| | | | — | | | | | | (923) | | | | | | — | | | | | | — | | | | | | — | | | | | | (923) | | |
Balance, December 31, 2019
|
| | | $ | — | | | | | $ | 1,432,736 | | | | | $ | (449) | | | | | $ | (12,366,909) | | | | | $ | — | | | | | $ | (10,934,622) | | |
|
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
Cash Flows From Operating Activities: | | | | | | | | | | | | | | | | | | | |
Net income (loss)
|
| | | $ | 827,407 | | | | | $ | 973,686 | | | | | $ | 725,445 | | |
Adjustments to reconcile net income (loss) to net cash flows from
operating activities: |
| | | | | | | | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 577,348 | | | | | | 660,460 | | | | | | 741,772 | | |
Realized and unrealized losses (gains) on investments
|
| | | | (3,119) | | | | | | (9,056) | | | | | | (85,550) | | |
Non-cash, stock-based compensation
|
| | | | 13,853 | | | | | | 35,521 | | | | | | 29,941 | | |
Deferred tax expense (benefit)
|
| | | | 11,310 | | | | | | (24,477) | | | | | | (297,012) | | |
Other, net
|
| | | | 71,406 | | | | | | (67,672) | | | | | | (3,431) | | |
Changes in current assets and current liabilities:
|
| | | | | | | | | | | | | | | | | | |
Trade accounts receivable
|
| | | | 52,599 | | | | | | 2,137 | | | | | | 114,962 | | |
Allowance for doubtful accounts
|
| | | | 2,324 | | | | | | 1,900 | | | | | | (2,384) | | |
Inventory
|
| | | | (78,216) | | | | | | 15,754 | | | | | | 37,028 | | |
Other current assets
|
| | | | 70,449 | | | | | | (39,822) | | | | | | (76,735) | | |
Trade accounts payable
|
| | | | 49,149 | | | | | | (145,891) | | | | | | (142,803) | | |
Deferred revenue and other
|
| | | | 29,159 | | | | | | (93,093) | | | | | | (57,802) | | |
Accrued programming and other accrued expenses
|
| | | | (238,969) | | | | | | (111,987) | | | | | | 303,901 | | |
Net cash flows from operating activities
|
| | | | 1,384,700 | | | | | | 1,197,460 | | | | | | 1,287,332 | | |
Cash Flows From Investing Activities: | | | | | | | | | | | | | | | | | | | |
(Purchases) Sales and maturities of marketable investment securities, net
|
| | | | 153,422 | | | | | | 41,155 | | | | | | (88,346) | | |
Purchases of property and equipment
|
| | | | (392,690) | | | | | | (348,023) | | | | | | (419,445) | | |
Purchases of strategic investments
|
| | | | — | | | | | | — | | | | | | (90,381) | | |
Other, net
|
| | | | 73,352 | | | | | | 24,816 | | | | | | 19,996 | | |
Net cash flows from investing activities
|
| | | | (165,916) | | | | | | (282,052) | | | | | | (578,176) | | |
Cash Flows From Financing Activities: | | | | | | | | | | | | | | | | | | | |
Redemption and repurchases of senior notes
|
| | | | (1,317,372) | | | | | | (1,108,489) | | | | | | (1,074,139) | | |
Payments made to parent of transferred businesses
|
| | | | — | | | | | | — | | | | | | (7,098) | | |
Advances from affiliates
|
| | | | 82,415 | | | | | | — | | | | | | — | | |
Repayment of long-term debt and finance lease obligations
|
| | | | (35,356) | | | | | | (38,639) | | | | | | (39,118) | | |
Other, net
|
| | | | (444) | | | | | | (3,270) | | | | | | (1,994) | | |
Net cash flows from financing activities
|
| | | | (1,270,757) | | | | | | (1,150,398) | | | | | | (1,122,349) | | |
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents
|
| | | | (51,973) | | | | | | (234,990) | | | | | | (413,193) | | |
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 4)
|
| | | | 130,076 | | | | | | 365,066 | | | | | | 778,259 | | |
Cash, cash equivalents, restricted cash and cash equivalents, end
of period (Note 4) |
| | | $ | 78,103 | | | | | $ | 130,076 | | | | | $ | 365,066 | | |
Length of Time Investment
Has Been In a Continuous Loss Position |
| |
Treatment of the Decline in Value
(absent specific factors to the contrary) |
|
Less than six months
|
| | Generally, considered temporary. | |
Six to nine months
|
| | Evaluated on a case by case basis to determine whether any company or market-specific factors exist indicating that such decline is other-than-temporary. | |
Greater than nine months
|
| | Generally, considered other-than-temporary. The decline in value is recorded as a charge to earnings. | |
Consolidated Balance Sheets
|
| |
DISH DBS (as
would have been reported under previous standards) |
| |
Impact of adopting
ASU 2016-02 |
| |
DISH DBS
(as currently reported) |
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
As of December 31, 2019 | | | | | | | | | | | | | | | | | | | |
Operating lease assets
|
| | | $ | — | | | | | $ | 553,576 | | | | | $ | 553,576 | | |
Total assets
|
| | | $ | 3,832,983 | | | | | $ | 553,576 | | | | | $ | 4,386,559 | | |
Other accrued expenses
|
| | | $ | 715,361 | | | | | $ | 202,972 | | | | | $ | 918,333 | | |
Operating lease liabilities
|
| | | $ | — | | | | | $ | 350,155 | | | | | $ | 350,155 | | |
Long-term deferred revenue and other long-term liabilities
|
| | | $ | 207,543 | | | | | $ | 449 | | | | | $ | 207,992 | | |
Total liabilities
|
| | | $ | 14,767,605 | | | | | $ | 553,576 | | | | | $ | 15,321,181 | | |
Total stockholder’s equity (deficit)
|
| | | $ | (10,934,622) | | | | | $ | — | | | | | $ | (10,934,622) | | |
Total liabilities and stockholder’s equity (deficit)
|
| | | $ | 3,832,983 | | | | | $ | 553,576 | | | | | $ | 4,386,559 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Cash paid for interest
|
| | | $ | 765,510 | | | | | $ | 793,506 | | | | | $ | 878,772 | | |
Cash received for interest
|
| | | | 30,041 | | | | | | 6,043 | | | | | | 9,855 | | |
Cash paid for income taxes
|
| | | | 19,485 | | | | | | 18,683 | | | | | | 29,961 | | |
Cash paid for income taxes to DISH Network
|
| | | | 245,028 | | | | | | 302,329 | | | | | | 408,265 | | |
Capitalized interest
|
| | | | 440 | | | | | | 1,071 | | | | | | 481 | | |
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Marketable investment securities: | | | | | | | | | | | | | |
Current marketable investment securities: | | | | | | | | | | | | | |
Trading/equity
|
| | | $ | — | | | | | $ | 2,370 | | |
Other
|
| | | | — | | | | | | 147,370 | | |
Total current marketable investment securities
|
| | | | — | | | | | | 149,740 | | |
Restricted marketable investment securities(1)
|
| | | | 390 | | | | | | 67,019 | | |
Total marketable investment securities
|
| | | | 390 | | | | | | 216,759 | | |
Restricted cash and cash equivalents(1)
|
| | | | 60,677 | | | | | | 578 | | |
Other investment securities: | | | | | | | | | | | | | |
Other investment securities
|
| | | | 106,874 | | | | | | 108,308 | | |
Total other investment securities
|
| | | | 106,874 | | | | | | 108,308 | | |
Total marketable investment securities, restricted cash and cash equivalents,
and other investment securities |
| | | $ | 167,941 | | | | | $ | 325,645 | | |
| | |
As of December 31,
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | | | |
2018
|
| |||||||||||||||||||||||||||||||||||||||||||
| | |
Marketable
Investment Securities |
| |
Unrealized
|
| |
Marketable
Investment Securities |
| |
Unrealized
|
| ||||||||||||||||||||||||||||||||||||
| | |
Gains
|
| |
Losses
|
| |
Net
|
| |
Gains
|
| |
Losses
|
| |
Net
|
| ||||||||||||||||||||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Debt securities (including restricted):
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
U.S. Treasury and agency securities
|
| | | $ | 390 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 66,823 | | | | | $ | 40 | | | | | $ | (19) | | | | | $ | 21 | | |
Commercial paper
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 45,938 | | | | | | — | | | | | | — | | | | | | — | | |
Corporate securities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 100,662 | | | | | | 11 | | | | | | (113) | | | | | | (102) | | |
Other
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 966 | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 390 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 214,389 | | | | | $ | 51 | | | | | $ | (132) | | | | | $ | (81) | | |
|
| | |
As of December 31,
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | | | |
2018
|
| |||||||||||||||||||||||||||||||||||||||||||
| | |
Total
|
| |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| ||||||||||||||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents (including
restricted) |
| | | $ | 60,677 | | | | | $ | 60,677 | | | | | $ | — | | | | | $ | — | | | | | $ | 114,464 | | | | | $ | 12,493 | | | | | $ | 101,971 | | | | | $ | — | | |
Debt securities (including restricted):
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
U.S. Treasury and agency
securities |
| | | $ | 390 | | | | | $ | 390 | | | | | $ | — | | | | | $ | — | | | | | $ | 66,823 | | | | | $ | 66,823 | | | | | $ | — | | | | | $ | — | | |
Commercial paper
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 45,938 | | | | | | — | | | | | | 45,938 | | | | | | — | | |
Corporate securities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 100,662 | | | | | | — | | | | | | 100,662 | | | | | | — | | |
Other
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 966 | | | | | | — | | | | | | 966 | | | | | | — | | |
Equity securities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,370 | | | | | | 2,370 | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 390 | | | | | $ | 390 | | | | | $ | — | | | | | $ | — | | | | | $ | 216,759 | | | | | $ | 69,193 | | | | | $ | 147,566 | | | | | $ | — | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
Other, net:
|
| |
2019
|
| |
2018
|
| |
2017
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
Marketable investment securities – realized and unrealized gains (losses)
|
| | | $ | 3,119 | | | | | $ | 5,313 | | | | | $ | 87,020 | | |
Costs related to early redemption of debt
|
| | | | — | | | | | | (3,261) | | | | | | (1,470) | | |
Gain (loss) on sale of subsidiary
|
| | | | — | | | | | | 7,004 | | | | | | — | | |
Equity in earnings of affiliates
|
| | | | 3,514 | | | | | | (2,110) | | | | | | 2,163 | | |
Other
|
| | | | 976 | | | | | | 2,048 | | | | | | 798 | | |
Total
|
| | | $ | 7,609 | | | | | $ | 8,994 | | | | | $ | 88,511 | | |
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Finished goods
|
| | | $ | 254,240 | | | | | $ | 215,150 | | |
Work-in-process and service repairs
|
| | | | 34,120 | | | | | | 56,871 | | |
Raw materials
|
| | | | 33,623 | | | | | | 18,676 | | |
Total inventory
|
| | | $ | 321,983 | | | | | $ | 290,697 | | |
| | |
Depreciable
Life (In Years) |
| |
As of
|
| |||||||||
| | | | | | |||||||||||
| | | | | |
(In thousands)
|
| |||||||||
Equipment leased to customers
|
| |
2 – 5
|
| | | $ | 1,837,503 | | | | | $ | 1,980,808 | | |
EchoStar XV
|
| |
15
|
| | | | 277,658 | | | | | | 277,658 | | |
EchoStar XVIII(1)
|
| |
15
|
| | | | 411,255 | | | | | | — | | |
Satellites acquired under finance lease agreements(2)(3)
|
| |
15
|
| | | | 398,107 | | | | | | 499,819 | | |
Furniture, fixtures, equipment and other
|
| |
2 – 20
|
| | | | 1,894,629 | | | | | | 1,820,883 | | |
Buildings and improvements
|
| |
5 – 40
|
| | | | 289,421 | | | | | | 289,244 | | |
Land
|
| |
—
|
| | | | 13,186 | | | | | | 13,186 | | |
Construction in progress
|
| |
—
|
| | | | 70,081 | | | | | | 47,077 | | |
Total property and equipment
|
| | | | | | | 5,191,840 | | | | | | 4,928,675 | | |
Accumulated depreciation
|
| | | | | | | (3,440,267) | | | | | | (3,550,726) | | |
Property and equipment, net
|
| | | | | | $ | 1,751,573 | | | | | $ | 1,377,949 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Equipment leased to customers
|
| | | $ | 370,867 | | | | | $ | 437,342 | | | | | $ | 539,434 | | |
Satellites
|
| | | | 65,441 | | | | | | 61,045 | | | | | | 61,045 | | |
Buildings, furniture, fixtures, equipment and other
|
| | | | 141,040 | | | | | | 162,073 | | | | | | 141,293 | | |
Total depreciation and amortization
|
| | | $ | 577,348 | | | | | $ | 660,460 | | | | | $ | 741,772 | | |
Satellites
|
| |
Launch
Date |
| |
Degree
Orbital Location |
| |
Lease
Termination Date |
| |||
Owned: | | | | | | | | | | | | | |
EchoStar XV
|
| |
July 2010
|
| | | | 61.5 | | | |
N/A
|
|
EchoStar XVIII
|
| |
June 2016
|
| | | | 61.5 | | | |
N/A
|
|
Leased from EchoStar(1): | | | | | | | | | | | | | |
EchoStar IX
|
| |
August 2003
|
| | | | 121 | | | |
Month to month
|
|
Leased from DISH Network(2): | | | | | | | | | | | | | |
EchoStar X(3)
|
| |
February 2006
|
| | | | 110 | | | |
February 2021
|
|
EchoStar XI(3)
|
| |
July 2008
|
| | | | 110 | | | |
September 2021
|
|
EchoStar XIV(3)
|
| |
March 2010
|
| | | | 119 | | | |
February 2023
|
|
EchoStar XVI(3)
|
| |
November 2012
|
| | | | 61.5 | | | |
January 2023
|
|
Nimiq 5(3)(4)
|
| |
September 2009
|
| | | | 72.7 | | | |
September 2020
|
|
QuetzSat-1(3) | | |
September 2011
|
| | | | 77 | | | |
November 2021
|
|
Leased from Other Third Party: | | | | | | | | | | | | | |
Anik F3
|
| |
April 2007
|
| | | | 118.7 | | | |
April 2022
|
|
Ciel II
|
| |
December 2008
|
| | | | 129 | | | |
January 2021
|
|
| | |
As of December 31,
|
| |||||||||||||||||||||
| | | | |
2018
|
| |||||||||||||||||||
| | |
Intangible
Assets |
| |
Accumulated
Amortization |
| |
Intangible
Assets |
| |
Accumulated
Amortization |
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Technology-based
|
| | | $ | 58,162 | | | | | $ | (53,447) | | | | | $ | 58,162 | | | | | $ | (51,204) | | |
Trademarks
|
| | | | 35,010 | | | | | | (30,655) | | | | | | 35,010 | | | | | | (27,106) | | |
Contract-based
|
| | | | 4,500 | | | | | | (4,500) | | | | | | 4,500 | | | | | | (4,500) | | |
Customer relationships
|
| | | | 23,632 | | | | | | (23,632) | | | | | | 23,632 | | | | | | (23,632) | | |
Total
|
| | | $ | 121,304 | | | | | $ | (112,234) | | | | | $ | 121,304 | | | | | $ | (106,442) | | |
For the Years Ended December 31,
|
| | | | | | |
| | | $ | 3,285 | | | |
2021
|
| | | | 835 | | |
2022
|
| | | | 666 | | |
2023
|
| | | | 654 | | |
2024
|
| | | | 654 | | |
Thereafter
|
| | | | 2,976 | | |
Total
|
| | | $ | 9,070 | | |
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
DBS Licenses
|
| | | $ | 611,794 | | | | | $ | 611,794 | | |
MVDDS Licenses(1)
|
| | | | — | | | | | | 24,000 | | |
Capitalized Interest
|
| | | | — | | | | | | 1,552 | | |
Total
|
| | | $ | 611,794 | | | | | $ | 637,346 | | |
| | |
For the Year Ended
December 31, 2019 |
| |||
| | |
(In thousands)
|
| |||
Operating lease cost
|
| | | $ | 297,181 | | |
Short-term lease cost(1)
|
| | | | 37,686 | | |
Finance lease cost: | | | | | | | |
Amortization of right-of-use assets
|
| | | | 29,134 | | |
Interest on lease liabilities
|
| | | | 9,826 | | |
Total finance lease cost
|
| | | | 38,960 | | |
Total lease costs
|
| | | $ | 373,827 | | |
| | |
For the Year Ended
December 31, 2019 |
| |||
| | |
(In thousands)
|
| |||
Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | |
Operating cash flows from operating leases
|
| | | $ | 301,524 | | |
Operating cash flows from finance leases
|
| | | $ | 9,826 | | |
Financing cash flows from finance leases
|
| | | $ | 31,841 | | |
Right-of-use assets obtained in exchange for lease obligations: | | | | | | | |
Operating leases
|
| | | $ | 81,198 | | |
Finance leases
|
| | | $ | 175,311 | | |
Right-of-use assets and liabilities recognized at January 1, 2019 upon adoption of ASC 842
|
| | | $ | 730,180 | | |
| | |
As of
December 31, 2019 |
| |||
| | |
(In thousands)
|
| |||
Operating Leases: | | | | | | | |
Operating lease right-of-use assets
|
| | | $ | 553,576 | | |
Other current liabilities
|
| | | $ | 202,972 | | |
Operating lease liabilities
|
| | | | 350,155 | | |
Total operating lease liabilities
|
| | | $ | 553,127 | | |
Finance Leases: | | | | | | | |
Property and equipment, gross
|
| | | $ | 399,764 | | |
Accumulated depreciation
|
| | | | (201,873) | | |
Property and equipment, net
|
| | | $ | 197,891 | | |
Other current liabilities
|
| | | $ | 48,678 | | |
Other long-term liabilities
|
| | | | 163,939 | | |
Total finance lease liabilities
|
| | | $ | 212,617 | | |
Weighted Average Remaining Lease Term: | | | | | | | |
Operating leases
|
| |
3.4 years
|
| |||
Finance leases
|
| |
4.2 years
|
| |||
Weighted Average Discount Rate: | | | | | | | |
Operating leases
|
| | | | 9.1% | | |
Finance leases
|
| | | | 9.5% | | |
| | |
Maturities of Lease Liabilities
|
| |||||||||||||||
For the Years Ending December 31,
|
| |
Operating
Leases |
| |
Finance
Leases |
| |
Total
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
2020
|
| | | $ | 239,660 | | | | | $ | 66,285 | | | | | $ | 305,945 | | |
2021
|
| | | | 199,062 | | | | | | 66,279 | | | | | | 265,341 | | |
2022
|
| | | | 127,300 | | | | | | 50,227 | | | | | | 177,527 | | |
2023
|
| | | | 24,571 | | | | | | 42,862 | | | | | | 67,433 | | |
2024
|
| | | | 9,191 | | | | | | 32,147 | | | | | | 41,338 | | |
Thereafter
|
| | | | 42,008 | | | | | | | | | | | | 42,008 | | |
Total lease payments
|
| | | | 641,792 | | | | | | 257,800 | | | | | | 899,592 | | |
Less: Imputed interest
|
| | | | (88,665) | | | | | | (45,183) | | | | | | (133,848) | | |
Total
|
| | | | 553,127 | | | | | | 212,617 | | | | | | 765,744 | | |
Less: Current portion
|
| | | | (202,972) | | | | | | (48,678) | | | | | | (251,650) | | |
Long-term portion of lease obligations
|
| | | $ | 350,155 | | | | | $ | 163,939 | | | | | $ | 514,094 | | |
|
| | |
As of December 31,
|
| |||||||||||||||||||||
| | | | |
2018
|
| |||||||||||||||||||
| | |
Carrying
Amount |
| |
Fair Value
|
| |
Carrying
Amount |
| |
Fair Value
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
77∕8% Senior Notes due 2019(1)
|
| | | | — | | | | | | — | | | | | | 1,317,372 | | | | | | 1,343,298 | | |
51∕8% Senior Notes due 2020(2)
|
| | | | 1,100,000 | | | | | | 1,110,208 | | | | | | 1,100,000 | | | | | | 1,089,957 | | |
63∕4% Senior Notes due 2021
|
| | | | 2,000,000 | | | | | | 2,109,420 | | | | | | 2,000,000 | | | | | | 1,974,940 | | |
57∕8% Senior Notes due 2022
|
| | | | 2,000,000 | | | | | | 2,129,580 | | | | | | 2,000,000 | | | | | | 1,833,140 | | |
5% Senior Notes due 2023
|
| | | | 1,500,000 | | | | | | 1,543,770 | | | | | | 1,500,000 | | | | | | 1,247,445 | | |
57∕8% Senior Notes due 2024
|
| | | | 2,000,000 | | | | | | 2,049,080 | | | | | | 2,000,000 | | | | | | 1,611,960 | | |
73∕4% Senior Notes due 2026
|
| | | | 2,000,000 | | | | | | 2,128,900 | | | | | | 2,000,000 | | | | | | 1,653,720 | | |
Other notes payable
|
| | | | 25,996 | | | | | | 25,996 | | | | | | 10,346 | | | | | | 10,346 | | |
Subtotal
|
| | | | 10,625,996 | | | | | $ | 11,096,954 | | | | | | 11,927,718 | | | | | $ | 10,764,806 | | |
Unamortized deferred financing costs and debt discounts, net
|
| | | | (16,250) | | | | | | | | | | | | (23,215) | | | | | | | | |
Finance lease obligations(3)
|
| | | | 212,617 | | | | | | | | | | | | 66,984 | | | | | | | | |
Total long-term debt and finance lease obligations
(including current portion) |
| | | $ | 10,822,363 | | | | | | | | | | | $ | 11,971,487 | | | | | | | | |
| | |
Semi-Annual
Payment Dates |
| |
Annual
Debt Service Requirements |
| |||
| | | | | |
(In thousands)
|
| |||
51∕8% Senior Notes due 2020(1)
|
| |
May 1 and November 1
|
| | | $ | 56,375 | | |
63∕4% Senior Notes due 2021
|
| |
June 1 and December 1
|
| | | $ | 135,000 | | |
57∕8% Senior Notes due 2022
|
| |
January 15 and July 15
|
| | | $ | 117,500 | | |
5% Senior Notes due 2023
|
| |
March 15 and September 15
|
| | | $ | 75,000 | | |
57∕8% Senior Notes due 2024
|
| |
May 15 and November 15
|
| | | $ | 117,500 | | |
73∕4% Senior Notes due 2026
|
| |
January 1 and July 1
|
| | | $ | 155,000 | | |
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Satellites and other finance lease obligations
|
| | | $ | 212,617 | | | | | $ | 66,984 | | |
Notes payable related to satellite vendor financing and other debt payable in installments through 2025 with interest rates of approximately 6.0%
|
| | | | 25,996 | | | | | | 10,346 | | |
Total
|
| | | | 238,613 | | | | | | 77,330 | | |
Less: current portion
|
| | | | (51,108) | | | | | | (21,155) | | |
Other long-term debt and finance lease obligations, net of current portion
|
| | | $ | 187,505 | | | | | $ | 56,175 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Current (benefit) provision: | | | | | | | | | | | | | | | | | | | |
Federal
|
| | | $ | 208,821 | | | | | $ | 273,632 | | | | | $ | 356,759 | | |
State
|
| | | | 48,417 | | | | | | 64,534 | | | | | | 54,133 | | |
Foreign
|
| | | | 6,203 | | | | | | 4,616 | | | | | | 3,736 | | |
Total current (benefit) provision
|
| | | | 263,441 | | | | | | 342,782 | | | | | | 414,628 | | |
Deferred (benefit) provision: | | | | | | | | | | | | | | | | | | | |
Federal
|
| | | | 11,243 | | | | | | (25,934) | | | | | | (308,028) | | |
State
|
| | | | (1,987) | | | | | | (123) | | | | | | 11,954 | | |
Increase (decrease) in valuation allowance
|
| | | | 2,054 | | | | | | 1,580 | | | | | | (938) | | |
Total deferred (benefit) provision
|
| | | | 11,310 | | | | | | (24,477) | | | | | | (297,012) | | |
Total (benefit) provision
|
| | | $ | 274,751 | | | | | $ | 318,305 | | | | | $ | 117,616 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
% of pre-tax income/(loss)
|
| |||||||||||||||
Statutory rate
|
| | | | 21.0 | | | | | | 21.0 | | | | | | 35.0 | | |
State income taxes, net of federal benefit
|
| | | | 3.6 | | | | | | 4.4 | | | | | | 4.2 | | |
Tax Reform Act(1)
|
| | | | — | | | | | | — | | | | | | (34.5) | | |
Nondeductible/Nontaxable items(2)
|
| | | | — | | | | | | — | | | | | | 11.5 | | |
Other, net
|
| | | | 0.3 | | | | | | (0.8) | | | | | | (2.2) | | |
Total (benefit) provision for income taxes
|
| | | | 24.9 | | | | | | 24.6 | | | | | | 14.0 | | |
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Deferred tax assets: | | | | | | | | | | | | | |
NOL, interest, credit and other carryforwards
|
| | | $ | 12,323 | | | | | $ | 10,915 | | |
Accrued and prepaid expenses
|
| | | | 96,974 | | | | | | — | | |
Stock-based compensation
|
| | | | 19,719 | | | | | | 21,198 | | |
Deferred revenue
|
| | | | 17,238 | | | | | | 18,361 | | |
Total deferred tax assets
|
| | | | 146,254 | | | | | | 50,474 | | |
Valuation allowance
|
| | | | (9,521) | | | | | | (7,467) | | |
Deferred tax asset after valuation allowance
|
| | | | 136,733 | | | | | | 43,007 | | |
Deferred tax liabilities: | | | | | | | | | | | | | |
Depreciation
|
| | | | (458,811) | | | | | | (345,358) | | |
Accrued and prepaid expenses
|
| | | | — | | | | | | (15,537) | | |
FCC authorizations and other intangible amortization
|
| | | | (174,399) | | | | | | (131,452) | | |
Bases difference in partnerships and other investments
|
| | | | (5,380) | | | | | | (12,112) | | |
Other liabilities
|
| | | | — | | | | | | — | | |
Total deferred tax liabilities
|
| | | | (638,590) | | | | | | (504,459) | | |
Net deferred tax asset (liability)
|
| | | $ | (501,857) | | | | | $ | (461,452) | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
Unrecognized tax benefit
|
| |
2019
|
| |
2018
|
| |
2017
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
Balance as of beginning of period
|
| | | $ | 194,136 | | | | | $ | 201,162 | | | | | $ | 201,693 | | |
Additions based on tax positions related to the current year
|
| | | | 3,232 | | | | | | 10,550 | | | | | | 684 | | |
Additions based on tax positions related to prior years
|
| | | | 28,137 | | | | | | 1,154 | | | | | | 4,593 | | |
Reductions based on tax positions related to prior years
|
| | | | (13,028) | | | | | | (4,479) | | | | | | (1,061) | | |
Reductions based on tax positions related to settlements with taxing authorities
|
| | | | (2,362) | | | | | | (8,328) | | | | | | (1,634) | | |
Reductions based on tax positions related to the lapse of the statute of limitations
|
| | | | (1,963) | | | | | | (5,923) | | | | | | (3,113) | | |
Balance as of end of period
|
| | | $ | 208,152 | | | | | $ | 194,136 | | | | | $ | 201,162 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
Expense Recognized Related to the 401(k) Plan
|
| |
2019
|
| |
2018
|
| |
2017
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
Matching contributions, net of forfeitures
|
| | | $ | 11,181 | | | | | $ | 10,300 | | | | | $ | 7,070 | | |
Discretionary stock contributions, net of forfeitures
|
| | | $ | 28,774 | | | | | $ | 27,048 | | | | | $ | 27,969 | | |
| | |
Options Outstanding
|
| |
Options Exercisable
|
| ||||||||||||||||||||||||||||||
| | | | |
Weighted-
Average Remaining Contractual Life |
| |
Weighted-
Average Exercise Price |
| | | |
Weighted-
Average Remaining Contractual Life |
| |
Weighted-
Average Exercise Price |
| ||||||||||||||||||||
$ 10.01 – $20.00 | | | | | 616,160 | | | | | | 0.50 | | | | | $ | 15.39 | | | | | | 16,160 | | | | | | 0.50 | | | | | $ | 15.62 | | |
$ 20.01 – $30.00 | | | | | 826,983 | | | | | | 3.37 | | | | | $ | 26.74 | | | | | | 124,233 | | | | | | 3.25 | | | | | $ | 24.02 | | |
$ 30.01 – $40.00 | | | | | 6,671,563 | | | | | | 7.94 | | | | | $ | 35.67 | | | | | | 1,057,044 | | | | | | 7.50 | | | | | $ | 35.52 | | |
$ 40.01 – $50.00 | | | | | 1,468,628 | | | | | | 7.59 | | | | | $ | 47.52 | | | | | | 384,800 | | | | | | 7.10 | | | | | $ | 47.24 | | |
$ 50.01 – $60.00 | | | | | 2,154,378 | | | | | | 6.47 | | | | | $ | 57.50 | | | | | | 430,952 | | | | | | 5.69 | | | | | $ | 59.90 | | |
$ 60.01 – $70.00 | | | | | 1,040,100 | | | | | | 6.29 | | | | | $ | 64.22 | | | | | | 304,300 | | | | | | 5.50 | | | | | $ | 65.23 | | |
$ 70.01 – $80.00 | | | | | 15,000 | | | | | | — | | | | | $ | 72.89 | | | | | | 15,000 | | | | | | — | | | | | $ | 72.89 | | |
$ — – $80.00 | | | | | 12,792,812 | | | | | | 6.85 | | | | | $ | 41.52 | | | | | | 2,332,489 | | | | | | 6.51 | | | | | $ | 44.77 | | |
|
| | |
For the Years Ended December 31,
|
| |||||||||||||||||||||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||||||||||||||||||||
| | |
Options
|
| |
Weighted-
Average Exercise Price |
| |
Options
|
| |
Weighted-
Average Exercise Price |
| |
Options
|
| |
Weighted-
Average Exercise Price |
| ||||||||||||||||||
Total options outstanding, beginning of period
|
| | | | 13,365,489 | | | | | $ | 41.78 | | | | | | 8,847,734 | | | | | $ | 43.90 | | | | | | 7,913,733 | | | | | $ | 36.22 | | |
Granted
|
| | | | 1,396,750 | | | | | $ | 33.52 | | | | | | 7,026,512 | | | | | $ | 38.44 | | | | | | 3,468,626 | | | | | $ | 59.66 | | |
Exercised
|
| | | | (713,411) | | | | | $ | 27.46 | | | | | | (267,905) | | | | | $ | 16.43 | | | | | | (505,125) | | | | | $ | 28.73 | | |
Forfeited and cancelled(1)
|
| | | | (1,256,016) | | | | | $ | 43.40 | | | | | | (2,240,852) | | | | | $ | 39.73 | | | | | | (2,029,500) | | | | | $ | 44.64 | | |
Total options outstanding, end of period
|
| | | | 12,792,812 | | | | | $ | 41.52 | | | | | | 13,365,489 | | | | | $ | 41.78 | | | | | | 8,847,734 | | | | | $ | 43.90 | | |
Performance-based options outstanding, end of period(2)
|
| | | | 7,608,446 | | | | | $ | 39.78 | | | | | | 8,671,886 | | | | | $ | 39.95 | | | | | | 5,490,626 | | | | | $ | 42.81 | | |
Exercisable at end of period
|
| | | | 2,332,489 | | | | | $ | 44.93 | | | | | | 1,705,103 | | | | | $ | 40.87 | | | | | | 1,772,608 | | | | | $ | 35.13 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Tax benefit from stock awards exercised
|
| | | $ | 1,239 | | | | | $ | 1,664 | | | | | $ | 9,347 | | |
| | |
As of December 31, 2019
|
| |||||||||
| | |
Options
Outstanding |
| |
Options
Exercisable |
| ||||||
| | |
(In thousands)
|
| |||||||||
Aggregate intrinsic value
|
| | | $ | 21,829 | | | | | $ | 2,136 | | |
|
| | |
For the Years Ended December 31,
|
| |||||||||||||||||||||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||||||||||||||||||||
| | |
Restricted
Stock Units/Awards |
| |
Weighted-
Average Grant Date Fair Value |
| |
Restricted
Stock Units/Awards |
| |
Weighted-
Average Grant Date Fair Value |
| |
Restricted
Stock Units/Awards |
| |
Weighted-
Average Grant Date Fair Value |
| ||||||||||||||||||
Total restricted stock units/awards
outstanding, beginning of period |
| | | | 1,718,945 | | | | | $ | 52.16 | | | | | | 2,484,720 | | | | | $ | 51.16 | | | | | | 1,336,000 | | | | | $ | 32.11 | | |
Granted
|
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | 1,871,375 | | | | | $ | 63.87 | | |
Vested
|
| | | | (9,565) | | | | | $ | 63.49 | | | | | | (10,475) | | | | | $ | 63.49 | | | | | | (14,845) | | | | | $ | 62.58 | | |
Forfeited and cancelled(1)
|
| | | | (245,730) | | | | | $ | 59.86 | | | | | | (755,300) | | | | | $ | 48.51 | | | | | | (707,810) | | | | | $ | 48.59 | | |
Total restricted stock units/awards outstanding, end of period
|
| | | | 1,463,650 | | | | | $ | 50.82 | | | | | | 1,718,945 | | | | | $ | 52.16 | | | | | | 2,484,720 | | | | | $ | 51.16 | | |
Restricted Performance Units/Awards outstanding, end of period(2)
|
| | | | 1,446,300 | | | | | $ | 50.66 | | | | | | 1,689,350 | | | | | $ | 51.97 | | | | | | 2,435,500 | | | | | $ | 50.91 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
Non-Cash, Stock-Based Compensation Expense Recognized(1)
|
| |
2019
|
| |
2018
|
| |
2017
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
2019 LTIP
|
| | | $ | 14,946 | | | | | $ | 3,475 | | | | | $ | — | | |
2017 LTIP
|
| | | | (12,902) | | | | | | 3,293 | | | | | | 10,640 | | |
2013 LTIP
|
| | | | (1,021) | | | | | | (2,471) | | | | | | (321) | | |
Other employee performance awards
|
| | | | (592) | | | | | | 17,888 | | | | | | 7,549 | | |
Total non-cash, stock-based compensation expense recognized for performance-based awards
|
| | | $ | 431 | | | | | $ | 22,185 | | | | | $ | 17,868 | | |
Estimated Remaining Non-Cash, Stock-Based Compensation Expense
|
| |
2019 LTIP
|
| |
2017 LTIP
|
| |
2013 LTIP
|
| |
Other
Employee Performance Awards |
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Expense estimated to be recognized during 2020
|
| | | $ | 10,541 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Estimated contingent expense subsequent to 2020
|
| | | | 12,682 | | | | | | 29,341 | | | | | | 29,766 | | | | | | 61,322 | | |
Total estimated remaining expense over the term of the
plan |
| | | $ | 23,223 | | | | | $ | 29,341 | | | | | $ | 29,766 | | | | | $ | 61,322 | | |
| | |
As of December 31, 2019
|
| |||||||||
Performance-Based Stock Options
|
| |
Number of
Awards |
| |
Weighted-
Average Grant Price |
| ||||||
2019 LTIP
|
| | | | 3,510,375 | | | | | $ | 35.16 | | |
2017 LTIP
|
| | | | 2,083,071 | | | | | $ | 57.12 | | |
2013 LTIP
|
| | | | 875,000 | | | | | $ | 41.08 | | |
Other employee performance awards
|
| | | | 1,140,000 | | | | | $ | 21.31 | | |
Total
|
| | | | 7,608,446 | | | | | $ | 39.78 | | |
Restricted Performance Units/Awards | | | | | | | | | | | | | |
2013 LTIP
|
| | | | 437,500 | | | | | | | | |
Other employee performance awards
|
| | | | 1,008,800 | | | | | | | | |
Total
|
| | | | 1,446,300 | | | | | | | | |
|
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Subscriber-related
|
| | | $ | 509 | | | | | $ | 1,150 | | | | | $ | 1,562 | | |
Satellite and transmission
|
| | | | 329 | | | | | | 262 | | | | | | 1,761 | | |
General and administrative
|
| | | | 13,015 | | | | | | 34,109 | | | | | | 26,618 | | |
Total non-cash, stock based compensation
|
| | | $ | 13,853 | | | | | $ | 35,521 | | | | | $ | 29,941 | | |
| | |
For the Years Ended December 31,
|
| ||||||
Stock Options
|
| |
2019
|
| |
2018
|
| |
2017
|
|
Risk-free interest rate
|
| |
1.51% – 2.53%
|
| |
2.09% – 2.98%
|
| |
1.34% – 2.29%
|
|
Volatility factor
|
| |
28.86% – 32.08%
|
| |
23.33% – 30.22%
|
| |
22.25% – 26.15%
|
|
Expected term of options in years
|
| |
4.3 – 5.5
|
| |
2.8 – 5.5
|
| |
3.8 – 5.5
|
|
Fair value of options granted
|
| |
$7.58 – $12.45
|
| |
$7.10 – $12.53
|
| |
$11.95 – $16.69
|
|
| | |
Payments due by period
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Total
|
| |
2020
|
| |
2021
|
| |
2022
|
| |
2023
|
| |
2024
|
| |
Thereafter
|
| |||||||||||||||||||||
Long-term debt obligations
|
| | | $ | 10,625,996 | | | | | $ | 1,102,430 | | | | | $ | 2,002,554 | | | | | $ | 2,002,683 | | | | | $ | 1,502,820 | | | | | $ | 2,002,964 | | | | | $ | 2,012,545 | | |
Interest expense on
long-term debt |
| | | | 2,524,898 | | | | | $ | 629,410 | | | | | $ | 533,599 | | | | | $ | 465,969 | | | | | $ | 310,832 | | | | | $ | 273,188 | | | | | $ | 311,900 | | |
Finance lease obligations(1)
|
| | | | 212,617 | | | | | | 48,678 | | | | | | 53,150 | | | | | | 41,666 | | | | | | 38,018 | | | | | | 31,105 | | | | | | — | | |
Interest expense on
finance lease obligations(1) |
| | | | 45,183 | | | | | | 17,607 | | | | | | 13,129 | | | | | | 8,561 | | | | | | 4,844 | | | | | | 1,042 | | | | | | — | | |
Satellite-related and
other obligations(2) |
| | | | 219,019 | | | | | | 71,931 | | | | | | 65,663 | | | | | | 41,291 | | | | | | 23,321 | | | | | | 16,813 | | | | | | — | | |
Operating lease obligations(1)
|
| | | | 641,792 | | | | | | 239,660 | | | | | | 199,062 | | | | | | 127,300 | | | | | | 24,571 | | | | | | 9,191 | | | | | | 42,008 | | |
Purchase obligations
|
| | | | 1,241,340 | | | | | | 1,200,025 | | | | | | 29,284 | | | | | | 12,031 | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 15,510,845 | | | | | $ | 3,309,741 | | | | | $ | 2,896,441 | | | | | $ | 2,699,501 | | | | | $ | 1,904,406 | | | | | $ | 2,334,303 | | | | | $ | 2,366,453 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
Revenue:
|
| |
2019
|
| |
2018
|
| |
2017
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
United States
|
| | | $ | 12,581,855 | | | | | $ | 13,319,091 | | | | | $ | 13,967,694 | | |
Canada and Mexico
|
| | | | 41,038 | | | | | | 43,048 | | | | | | 39,817 | | |
Total revenue
|
| | | $ | 12,622,893 | | | | | $ | 13,362,139 | | | | | $ | 14,007,511 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
Category:
|
| |
2019
|
| |
2018
|
| |
2017
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
Pay-TV video and related revenue
|
| | | $ | 12,436,637 | | | | | $ | 13,197,994 | | | | | $ | 13,877,196 | | |
Equipment sales and other revenue
|
| | | | 186,256 | | | | | | 164,145 | | | | | | 130,315 | | |
Total
|
| | | $ | 12,622,893 | | | | | $ | 13,362,139 | | | | | $ | 14,007,511 | | |
Allowance for doubtful accounts
|
| |
Balance at
Beginning of Year |
| |
Charged to
Costs and Expenses |
| |
Deductions
|
| |
Balance at
End of Year |
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
For the years ended: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | $ | 16,956 | | | | | $ | 69,866 | | | | | $ | (67,542) | | | | | $ | 19,280 | | | |
| | | $ | 15,056 | | | | | $ | 98,461 | | | | | $ | (96,561) | | | | | $ | 16,956 | | | |
| | | $ | 17,440 | | | | | $ | 124,143 | | | | | $ | (126,527) | | | | | $ | 15,056 | | |
| | |
Contract
Liabilities |
| |||
| | |
(In thousands)
|
| |||
Balance as of December 31, 2018
|
| | | $ | 624,626 | | |
Recognition of unearned revenue
|
| | | | (7,086,252) | | |
Deferral of revenue
|
| | | | 7,070,680 | | |
Balance as of December 31, 2019
|
| | | $ | 609,054 | | |
| | |
For the Three Months Ended
|
| |||||||||||||||||||||
| | |
March 31
|
| |
June 30
|
| |
September 30
|
| |
December 31
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Year ended December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | |
Total revenue
|
| | | $ | 3,138,000 | | | | | $ | 3,166,599 | | | | | $ | 3,122,282 | | | | | $ | 3,196,012 | | |
Operating income (loss)
|
| | | | 430,735 | | | | | | 435,966 | | | | | | 438,498 | | | | | | 515,999 | | |
Net income (loss) attributable to DISH DBS
|
| | | | 177,760 | | | | | | 185,368 | | | | | | 204,858 | | | | | | 259,545 | | |
Year ended December 31, 2018: | | | | | | | | | | | | | | | | | | | | | | | | | |
Total revenue
|
| | | $ | 3,383,222 | | | | | $ | 3,393,307 | | | | | $ | 3,334,444 | | | | | $ | 3,251,166 | | |
Operating income (loss)
|
| | | | 508,121 | | | | | | 549,502 | | | | | | 542,439 | | | | | | 466,448 | | |
Net income (loss) attributable to DISH DBS
|
| | | | 204,192 | | | | | | 285,691 | | | | | | 281,272 | | | | | | 200,132 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Purchases (including fees): | | | | | | | | | | | | | | | | | | | |
Purchases from NagraStar
|
| | | $ | 56,284 | | | | | $ | 72,162 | | | | | $ | 71,167 | | |
|
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Amounts Payable and Commitments: | | | | | | | | | | | | | |
Amounts payable to NagraStar
|
| | | $ | 9,630 | | | | | $ | 9,871 | | |
Commitments to NagraStar
|
| | | $ | 4,893 | | | | | $ | 3,888 | | |
| | |
For the Years Ended December 31,
|
| |||||||||||||||
| | | | |
2018
|
| |
2017
|
| ||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Sales: | | | | | | | | | | | | | | | | | | | |
Digital receivers and related components
|
| | | $ | — | | | | | $ | 1,227 | | | | | $ | 1,891 | | |
Uplink services
|
| | | | 5,620 | | | | | | 5,426 | | | | | | 3,994 | | |
Total
|
| | | $ | 5,620 | | | | | $ | 6,653 | | | | | $ | 5,885 | | |
|
| | |
As of December 31,
|
| |||||||||
| | | | |
2018
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Amounts Receivable: | | | | | | | | | | | | | |
Amounts receivable from Dish Mexico
|
| | | $ | 1,191 | | | | | $ | 1,370 | | |
| | |
Page
|
| |||
Unaudited Interim Consolidated Financial Statements: | | | | | | | |
| | | | F-71 | | | |
| | | | F-72 | | | |
| | | | F-73 | | | |
| | | | F-74 | | | |
| | | | F-75 | | |
| | |
As of
|
| |||||||||
| | | | | | ||||||||
Assets | | | | | | | | | | | | | |
Current Assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 26,819 | | | | | $ | 17,426 | | |
Marketable investment securities
|
| | | | 31 | | | | | | — | | |
Trade accounts receivable, net of allowance for credit losses and allowance
for doubtful accounts of $41,188 and $19,280, respectively |
| | | | 514,086 | | | | | | 568,679 | | |
Inventory
|
| | | | 301,408 | | | | | | 321,983 | | |
Other current assets
|
| | | | 179,818 | | | | | | 164,767 | | |
Total current assets
|
| | | | 1,022,162 | | | | | | 1,072,855 | | |
Noncurrent Assets: | | | | | | | | | | | | | |
Restricted cash, cash equivalents and marketable investment securities
|
| | | | 61,349 | | | | | | 61,067 | | |
Property and equipment, net
|
| | | | 1,661,928 | | | | | | 1,751,573 | | |
FCC authorizations
|
| | | | 611,794 | | | | | | 611,794 | | |
Other investment securities
|
| | | | 96,886 | | | | | | 106,874 | | |
Operating lease assets
|
| | | | 471,987 | | | | | | 553,576 | | |
Other noncurrent assets, net
|
| | | | 230,230 | | | | | | 228,820 | | |
Total noncurrent assets
|
| | | | 3,134,174 | | | | | | 3,313,704 | | |
Total assets
|
| | | $ | 4,156,336 | | | | | $ | 4,386,559 | | |
Liabilities and Stockholder’s Equity (Deficit) | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Trade accounts payable
|
| | | $ | 338,109 | | | | | $ | 266,417 | | |
Advances from affiliates
|
| | | | — | | | | | | 82,415 | | |
Deferred revenue and other
|
| | | | 652,866 | | | | | | 674,079 | | |
Accrued programming
|
| | | | 1,683,468 | | | | | | 1,308,531 | | |
Accrued interest
|
| | | | 180,248 | | | | | | 189,039 | | |
Other accrued expenses
|
| | | | 893,149 | | | | | | 918,333 | | |
Current portion of long-term debt and finance lease obligations
|
| | | | 2,053,291 | | | | | | 1,151,108 | | |
Total current liabilities
|
| | | | 5,801,131 | | | | | | 4,589,922 | | |
Long-Term Obligations, Net of Current Portion: | | | | | | | | | | | | | |
Long-term debt and finance lease obligations, net of current portion
|
| | | | 7,647,933 | | | | | | 9,671,255 | | |
Deferred tax liabilities
|
| | | | 521,433 | | | | | | 501,857 | | |
Operating lease liabilities
|
| | | | 267,154 | | | | | | 350,155 | | |
Long-term deferred revenue and other long-term liabilities
|
| | | | 224,210 | | | | | | 207,992 | | |
Total long-term obligations, net of current portion
|
| | | | 8,660,730 | | | | | | 10,731,259 | | |
Total liabilities
|
| | | | 14,461,861 | | | | | | 15,321,181 | | |
Commitments and Contingencies (Note 9) | | | | | | | | | | | | | |
Stockholder’s Equity (Deficit): | | | | | | | | | | | | | |
Common stock, $.01 par value, 1,000,000 shares authorized, 1,015 shares issued and outstanding
|
| | | | — | | | | | | — | | |
Additional paid-in capital
|
| | | | 1,443,022 | | | | | | 1,432,736 | | |
Accumulated other comprehensive income (loss)
|
| | | | (771) | | | | | | (449) | | |
Accumulated earnings (deficit)
|
| | | | (11,747,776) | | | | | | (12,366,909) | | |
Total stockholder’s equity (deficit)
|
| | | | (10,305,525) | | | | | | (10,934,622) | | |
Total liabilities and stockholder’s equity (deficit)
|
| | | $ | 4,156,336 | | | | | $ | 4,386,559 | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
| | | | |
2019
|
| |
2020
|
| |
2019
|
| |||||||||||||
Revenue: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related revenue
|
| | | $ | 3,117,334 | | | | | $ | 3,117,066 | | | | | $ | 6,248,234 | | | | | $ | 6,215,002 | | |
Equipment sales and other revenue
|
| | | | 31,197 | | | | | | 49,533 | | | | | | 68,079 | | | | | | 89,597 | | |
Total revenue
|
| | | | 3,148,531 | | | | | | 3,166,599 | | | | | | 6,316,313 | | | | | | 6,304,599 | | |
Costs and Expenses (exclusive of depreciation shown
separately below – Note 6): |
| | | | | | | | | | | | | | | | | | | | | | | | |
Subscriber-related expenses
|
| | | | 1,863,895 | | | | | | 1,974,439 | | | | | | 3,797,718 | | | | | | 3,950,875 | | |
Satellite and transmission expenses
|
| | | | 117,912 | | | | | | 144,983 | | | | | | 239,973 | | | | | | 299,880 | | |
Cost of sales – equipment and other
|
| | | | 23,660 | | | | | | 49,603 | | | | | | 54,474 | | | | | | 89,944 | | |
Subscriber acquisition costs: | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of sales – subscriber promotion subsidies
|
| | | | 1,159 | | | | | | 3,007 | | | | | | 10,048 | | | | | | 9,524 | | |
Other subscriber acquisition costs
|
| | | | 109,055 | | | | | | 108,289 | | | | | | 222,957 | | | | | | 188,764 | | |
Subscriber acquisition advertising
|
| | | | 89,510 | | | | | | 126,782 | | | | | | 220,592 | | | | | | 233,689 | | |
Total subscriber acquisition costs
|
| | | | 199,724 | | | | | | 238,078 | | | | | | 453,597 | | | | | | 431,977 | | |
General and administrative expenses
|
| | | | 156,574 | | | | | | 187,930 | | | | | | 341,498 | | | | | | 374,507 | | |
Depreciation and amortization (Note 6)
|
| | | | 122,869 | | | | | | 135,600 | | | | | | 257,954 | | | | | | 290,715 | | |
Total costs and expenses
|
| | | | 2,484,634 | | | | | | 2,730,633 | | | | | | 5,145,214 | | | | | | 5,437,898 | | |
Operating income (loss)
|
| | | | 663,897 | | | | | | 435,966 | | | | | | 1,171,099 | | | | | | 866,701 | | |
Other Income (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 1,112 | | | | | | 5,593 | | | | | | 1,962 | | | | | | 8,528 | | |
Interest expense, net of amounts capitalized
|
| | | | (164,047) | | | | | | (194,857) | | | | | | (346,387) | | | | | | (390,502) | | |
Other, net
|
| | | | (152) | | | | | | 3,131 | | | | | | 793 | | | | | | 4,564 | | |
Total other income (expense)
|
| | | | (163,087) | | | | | | (186,133) | | | | | | (343,632) | | | | | | (377,410) | | |
Income (loss) before income taxes
|
| | | | 500,810 | | | | | | 249,833 | | | | | | 827,467 | | | | | | 489,291 | | |
Income tax (provision) benefit, net
|
| | | | (125,830) | | | | | | (64,465) | | | | | | (208,334) | | | | | | (126,287) | | |
Net income (loss)
|
| | | | 374,980 | | | | | | 185,368 | | | | | | 619,133 | | | | | | 363,004 | | |
Less: Net income (loss) attributable to noncontrolling interests, net of tax
|
| | | | — | | | | | | — | | | | | | — | | | | | | (124) | | |
Net income (loss) attributable to DISH DBS
|
| | | $ | 374,980 | | | | | $ | 185,368 | | | | | $ | 619,133 | | | | | $ | 363,128 | | |
Comprehensive Income (Loss): | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss)
|
| | | $ | 374,980 | | | | | $ | 185,368 | | | | | $ | 619,133 | | | | | $ | 363,004 | | |
Other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | | | | | | | |
Foreign currency translation adjustments
|
| | | | 30 | | | | | | 138 | | | | | | (322) | | | | | | 185 | | |
Unrealized holding gains (losses) on available-for-
sale debt securities |
| | | | 11 | | | | | | 102 | | | | | | — | | | | | | 254 | | |
Deferred income tax (expense) benefit, net
|
| | | | — | | | | | | (27) | | | | | | — | | | | | | (65) | | |
Total other comprehensive income (loss), net of tax
|
| | | | 41 | | | | | | 213 | | | | | | (322) | | | | | | 374 | | |
Comprehensive income (loss)
|
| | | | 375,021 | | | | | | 185,581 | | | | | | 618,811 | | | | | | 363,378 | | |
Less: Comprehensive income (loss) attributable to
noncontrolling interests, net of tax |
| | | | — | | | | | | — | | | | | | — | | | | | | (124) | | |
Comprehensive income (loss) attributable to DISH DBS
|
| | | $ | 375,021 | | | | | $ | 185,581 | | | | | $ | 618,811 | | | | | $ | 363,502 | | |
| | |
Common
Stock |
| |
Additional
Paid-In Capital |
| |
Accumulated
Other Comprehensive Income (Loss) |
| |
Accumulated
Earnings (Deficit) |
| |
Noncontrolling
Interests |
| |
Total
|
| ||||||||||||||||||
Balance, December 31, 2018
|
| | | $ | — | | | | | $ | 1,152,369 | | | | | $ | (376) | | | | | $ | (13,194,440) | | | | | $ | 287 | | | | | $ | (12,042,160) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 11,003 | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,003 | | |
Change in unrealized holding gains (losses) on available-for-sale debt securities, net
|
| | | | — | | | | | | — | | | | | | 152 | | | | | | — | | | | | | — | | | | | | 152 | | |
Deferred income tax (expense) benefit attributable to unrealized gains (losses) on available-for-sale securities
|
| | | | — | | | | | | — | | | | | | (38) | | | | | | — | | | | | | — | | | | | | (38) | | |
Foreign currency translation
|
| | | | — | | | | | | — | | | | | | 47 | | | | | | — | | | | | | — | | | | | | 47 | | |
Net income (loss) attributable to noncontrolling interests
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (124) | | | | | | (124) | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 177,760 | | | | | | — | | | | | | 177,760 | | |
Balance, March 31, 2019
|
| | | $ | — | | | | | $ | 1,163,372 | | | | | $ | (215) | | | | | $ | (13,016,680) | | | | | $ | 163 | | | | | $ | (11,853,360) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 11,528 | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,528 | | |
Change in unrealized holding gains (losses) on available-for-sale debt securities, net
|
| | | | — | | | | | | — | | | | | | 102 | | | | | | — | | | | | | — | | | | | | 102 | | |
Deferred income tax (expense) benefit attributable to unrealized gains (losses) on available-for-sale securities
|
| | | | — | | | | | | — | | | | | | (27) | | | | | | — | | | | | | — | | | | | | (27) | | |
Foreign currency translation
|
| | | | — | | | | | | — | | | | | | 138 | | | | | | — | | | | | | — | | | | | | 138 | | |
Satellite and Spectrum Transaction, net of deferred taxes
|
| | | | — | | | | | | 267,437 | | | | | | — | | | | | | — | | | | | | (163) | | | | | | 267,274 | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 185,368 | | | | | | — | | | | | | 185,368 | | |
Balance, June 30, 2019
|
| | | $ | — | | | | | $ | 1,442,337 | | | | | $ | (2) | | | | | $ | (12,831,312) | | | | | $ | — | | | | | $ | (11,388,977) | | |
Balance, December 31, 2019
|
| | | $ | — | | | | | $ | 1,432,736 | | | | | $ | (449) | | | | | $ | (12,366,909) | | | | | $ | — | | | | | $ | (10,934,622) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 6,953 | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,953 | | |
Change in unrealized holding gains (losses) on available-for-sale debt securities, net
|
| | | | — | | | | | | — | | | | | | (11) | | | | | | — | | | | | | — | | | | | | (11) | | |
Foreign currency translation
|
| | | | — | | | | | | — | | | | | | (352) | | | | | | — | | | | | | — | | | | | | (352) | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 244,153 | | | | | | — | | | | | | 244,153 | | |
Balance, March 31, 2020
|
| | | $ | — | | | | | $ | 1,439,689 | | | | | $ | (812) | | | | | $ | (12,122,756) | | | | | $ | — | | | | | $ | (10,683,879) | | |
Non-cash, stock-based compensation
|
| | | | — | | | | | | 3,333 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,333 | | |
Change in unrealized holding gains (losses) on available-for-sale debt securities, net
|
| | | | — | | | | | | — | | | | | | 11 | | | | | | — | | | | | | — | | | | | | 11 | | |
Foreign currency translation
|
| | | | — | | | | | | — | | | | | | 30 | | | | | | — | | | | | | — | | | | | | 30 | | |
Net income (loss) attributable to DISH DBS
|
| | | | — | | | | | | — | | | | | | — | | | | | | 374,980 | | | | | | — | | | | | | 374,980 | | |
Balance, June 30, 2020
|
| | | $ | — | | | | | $ | 1,443,022 | | | | | $ | (771) | | | | | $ | (11,747,776) | | | | | $ | — | | | | | $ | (10,305,525) | | |
|
| | |
For the Six Months Ended
June 30, |
| |||||||||
| | | | |
2019
|
| |||||||
Cash Flows From Operating Activities: | | | | | | | | | | | | | |
Net income (loss)
|
| | | $ | 619,133 | | | | | $ | 363,004 | | |
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
|
| | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 257,954 | | | | | | 290,715 | | |
Realized and unrealized losses (gains) on investments
|
| | | | — | | | | | | (3,160) | | |
Non-cash, stock-based compensation
|
| | | | 10,286 | | | | | | 22,531 | | |
Deferred tax expense (benefit)
|
| | | | 19,576 | | | | | | (39,649) | | |
Allowance for credit losses and allowance for doubtful accounts,
respectively |
| | | | 21,908 | | | | | | 1,119 | | |
Other, net
|
| | | | 25,554 | | | | | | (30,509) | | |
Changes in current assets and current liabilities, net
|
| | | | 405,709 | | | | | | 160,594 | | |
Net cash flows from operating activities
|
| | | | 1,360,120 | | | | | | 764,645 | | |
Cash Flows From Investing Activities: | | | | | | | | | | | | | |
(Purchases) Sales and maturities of marketable investment securities, net
|
| | | | (31) | | | | | | (96,031) | | |
Purchases of property and equipment
|
| | | | (148,256) | | | | | | (183,776) | | |
Other, net
|
| | | | 4,454 | | | | | | 17,432 | | |
Net cash flows from investing activities
|
| | | | (143,833) | | | | | | (262,375) | | |
Cash Flows From Financing Activities: | | | | | | | | | | | | | |
Redemption and repurchases of senior notes
|
| | | | (1,100,000) | | | | | | (22,365) | | |
Advances to/from affiliates
|
| | | | (82,415) | | | | | | — | | |
Repayment of long-term debt and finance lease obligations
|
| | | | (23,807) | | | | | | (10,860) | | |
Other, net
|
| | | | — | | | | | | (400) | | |
Net cash flows from financing activities
|
| | | | (1,206,222) | | | | | | (33,625) | | |
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents
|
| | | | 10,065 | | | | | | 468,645 | | |
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period
(Note 4) |
| | | | 78,103 | | | | | | 130,076 | | |
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 4)
|
| | | $ | 88,168 | | | | | $ | 598,721 | | |
| | |
For the Six Months Ended
June 30, |
| |||||||||
| | | | |
2019
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Cash paid for interest
|
| | | $ | 329,923 | | | | | $ | 382,391 | | |
Cash received for interest
|
| | | | 1,962 | | | | | | 8,528 | | |
Cash paid for income taxes
|
| | | | 3,205 | | | | | | 8,845 | | |
Cash paid for income taxes to DISH Network
|
| | | | 176,964 | | | | | | 152,526 | | |
Capitalized interest
|
| | | | — | | | | | | 440 | | |
Reclassification of a receivable from noncurrent to current
|
| | | | — | | | | | | 138,210 | | |
| | |
As of
|
| |||||||||
| | | | | | ||||||||
| | |
(In thousands)
|
| |||||||||
Marketable investment securities: | | | | | | | | | | | | | |
Current marketable investment securities
|
| | | $ | 31 | | | | | $ | — | | |
Restricted marketable investment securities(1)
|
| | | | — | | | | | | 390 | | |
Total marketable investment securities
|
| | | | 31 | | | | | | 390 | | |
Restricted cash and cash equivalents(1)
|
| | | | 61,349 | | | | | | 60,677 | | |
Other investment securities: | | | | | | | | | | | | | |
Other investment securities
|
| | | | 96,886 | | | | | | 106,874 | | |
Total other investment securities
|
| | | | 96,886 | | | | | | 106,874 | | |
|
| | |
As of
|
| |||||||||
| | | | | | ||||||||
| | |
(In thousands)
|
| |||||||||
Total marketable investment securities, restricted cash and cash equivalents, and other investment securities
|
| | | $ | 158,266 | | | | | $ | 167,941 | | |
|
| | |
As of
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | | | | | ||||||||||||||||||||||||||||||||||||||||||||
| | |
Total
|
| |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| ||||||||||||||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents (including restricted)
|
| | | $ | 63,344 | | | | | $ | 62,740 | | | | | $ | 604 | | | | | $ | — | | | | | $ | 60,677 | | | | | $ | 60,677 | | | | | $ | — | | | | | $ | — | | |
Debt securities (including restricted):
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
U.S. Treasury and agency securities
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 390 | | | | | $ | 390 | | | | | $ | — | | | | | $ | — | | |
Commercial paper
|
| | | | 31 | | | | | | — | | | | | | 31 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Corporate securities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Other
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 31 | | | | | $ | — | | | | | $ | 31 | | | | | $ | — | | | | | $ | 390 | | | | | $ | 390 | | | | | $ | — | | | | | $ | — | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
Other, net:
|
| |
2020
|
| |
2019
|
| |
2020
|
| |
2019
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Marketable investment securities – realized and unrealized
gains (losses) |
| | | $ | — | | | | | $ | 829 | | | | | $ | — | | | | | $ | 3,599 | | |
Costs related to early redemption of debt
|
| | | | — | | | | | | — | | | | | | — | | | | | | (439) | | |
Equity in earnings of affiliates
|
| | | | (399) | | | | | | 2,297 | | | | | | (121) | | | | | | 1,353 | | |
Other
|
| | | | 247 | | | | | | 5 | | | | | | 914 | | | | | | 51 | | |
Total
|
| | | $ | (152) | | | | | $ | 3,131 | | | | | $ | 793 | | | | | $ | 4,564 | | |
|
| | |
As of
|
| |||||||||
| | | | | | ||||||||
| | |
(In thousands)
|
| |||||||||
Finished goods
|
| | | $ | 249,605 | | | | | $ | 254,240 | | |
Work-in-process and service repairs
|
| | | | 34,245 | | | | | | 34,120 | | |
Raw materials
|
| | | | 17,558 | | | | | | 33,623 | | |
Total inventory
|
| | | $ | 301,408 | | | | | $ | 321,983 | | |
| | |
Depreciable
Life (In Years) |
| |
As of
|
| |||||||||
| | | | | | |||||||||||
| | | | | |
(In thousands)
|
| |||||||||
Equipment leased to customers
|
| |
2 – 5
|
| | | $ | 1,779,445 | | | | | $ | 1,837,503 | | |
EchoStar XV
|
| |
15
|
| | | | 277,658 | | | | | | 277,658 | | |
EchoStar XVIII
|
| |
15
|
| | | | 411,255 | | | | | | 411,255 | | |
Satellites acquired under finance lease agreements
|
| |
15
|
| | | | 398,107 | | | | | | 398,107 | | |
Furniture, fixtures, equipment and other
|
| |
2 – 20
|
| | | | 1,934,783 | | | | | | 1,894,629 | | |
Buildings and improvements
|
| |
5 – 40
|
| | | | 294,342 | | | | | | 289,421 | | |
Land
|
| |
—
|
| | | | 13,186 | | | | | | 13,186 | | |
Construction in progress
|
| |
—
|
| | | | 62,862 | | | | | | 70,081 | | |
Total property and equipment
|
| | | | | | | 5,171,638 | | | | | | 5,191,840 | | |
Accumulated depreciation
|
| | | | | | | (3,509,710) | | | | | | (3,440,267) | | |
Property and equipment, net
|
| | | | | | $ | 1,661,928 | | | | | $ | 1,751,573 | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
| | | | |
2019
|
| |
2020
|
| |
2019
|
| |||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Equipment leased to customers
|
| | | $ | 69,489 | | | | | $ | 86,453 | | | | | $ | 149,171 | | | | | $ | 194,589 | | |
Satellites
|
| | | | 23,796 | | | | | | 12,920 | | | | | | 47,593 | | | | | | 23,575 | | |
Buildings, furniture, fixtures, equipment and other
|
| | | | 29,584 | | | | | | 36,227 | | | | | | 61,190 | | | | | | 72,551 | | |
Total depreciation and amortization
|
| | | $ | 122,869 | | | | | $ | 135,600 | | | | | $ | 257,954 | | | | | $ | 290,715 | | |
Satellites
|
| |
Launch
Date |
| |
Degree
Orbital Location |
| |
Lease
Termination Date |
|
Owned: | | | | | | | | | | |
EchoStar XV
|
| |
July 2010
|
| |
61.5
|
| |
N/A
|
|
EchoStar XVIII
|
| |
June 2016
|
| |
61.5
|
| |
N/A
|
|
Leased from EchoStar(1): | | | | | | | | | | |
EchoStar IX
|
| |
August 2003
|
| |
121
|
| |
Month to month
|
|
Leased from DISH Network(2): | | | | | | | | | | |
EchoStar X
|
| |
February 2006
|
| |
110
|
| |
February 2021
|
|
EchoStar XI
|
| |
July 2008
|
| |
110
|
| |
September 2021
|
|
EchoStar XIV
|
| |
March 2010
|
| |
119
|
| |
February 2023
|
|
EchoStar XVI
|
| |
November 2012
|
| |
61.5
|
| |
January 2023
|
|
Nimiq 5(3)
|
| |
September 2009
|
| |
72.7
|
| |
September 2020
|
|
QuetzSat-1
|
| |
September 2011
|
| |
77
|
| |
November 2021
|
|
Leased from Other Third Party: | | | | | | | | | | |
Anik F3
|
| |
April 2007
|
| |
118.7
|
| |
April 2022
|
|
Ciel II
|
| |
December 2008
|
| |
129
|
| |
January 2021
|
|
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
| | | | |
2019
|
| |
2020
|
| |
2019
|
| |||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Operating lease cost
|
| | | $ | 61,808 | | | | | $ | 81,762 | | | | | $ | 123,523 | | | | | $ | 162,048 | | |
Short-term lease cost(1)
|
| | | | 3,733 | | | | | | 12,141 | | | | | | 6,400 | | | | | | 31,426 | | |
Finance lease cost: | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of right-of-use assets
|
| | | | 12,300 | | | | | | 3,805 | | | | | | 24,748 | | | | | | 9,913 | | |
Interest on lease liabilities
|
| | | | 4,534 | | | | | | 1,099 | | | | | | 9,332 | | | | | | 2,280 | | |
Total finance lease cost
|
| | | | 16,834 | | | | | | 4,904 | | | | | | 34,080 | | | | | | 12,193 | | |
Total lease costs
|
| | | $ | 82,375 | | | | | $ | 98,807 | | | | | $ | 164,003 | | | | | $ | 205,667 | | |
| | |
For the Six Months Ended
June 30, |
| |||||||||
| | | | |
2019
|
| |||||||
| | |
(In thousands)
|
| |||||||||
Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | | | | | | | |
Operating cash flows from operating leases
|
| | | $ | 123,811 | | | | | $ | 164,159 | | |
Operating cash flows from finance leases
|
| | | $ | 9,332 | | | | | $ | 2,295 | | |
Financing cash flows from finance leases
|
| | | $ | 23,227 | | | | | $ | 10,454 | | |
Right-of-use assets obtained in exchange for lease obligations: | | | | | | | | | | | | | |
Operating leases
|
| | | $ | 17,967 | | | | | $ | 61,872 | | |
Finance leases
|
| | | $ | — | | | | | $ | — | | |
Right-of-use assets and liabilities recognized at January 1, 2019 upon adoption of ASC 842
|
| | | | | | | | | $ | 730,180 | | |
| | |
As of
|
| |||||||||
| | | | | | ||||||||
| | |
(In thousands)
|
| |||||||||
Operating Leases: | | | | | | | | | | | | | |
Operating lease assets
|
| | | $ | 471,987 | | | | | $ | 553,576 | | |
Other current liabilities
|
| | | $ | 204,138 | | | | | $ | 202,972 | | |
Operating lease liabilities
|
| | | | 267,154 | | | | | | 350,155 | | |
Total operating lease liabilities
|
| | | $ | 471,292 | | | | | $ | 553,127 | | |
Finance Leases: | | | | | | | | | | | | | |
Property and equipment, gross
|
| | | $ | 398,875 | | | | | $ | 399,764 | | |
Accumulated depreciation
|
| | | | (226,325) | | | | | | (201,873) | | |
Property and equipment, net
|
| | | $ | 172,550 | | | | | $ | 197,891 | | |
Other current liabilities
|
| | | $ | 50,860 | | | | | $ | 48,678 | | |
Other long-term liabilities
|
| | | | 137,949 | | | | | | 163,939 | | |
Total finance lease liabilities
|
| | | $ | 188,809 | | | | | $ | 212,617 | | |
Weighted Average Remaining Lease Term: | | | | | | | | | | | | | |
Operating leases
|
| |
3.1 years
|
| |
3.4 years
|
| ||||||
Finance leases
|
| |
3.8 years
|
| |
4.2 years
|
| ||||||
Weighted Average Discount Rate: | | | | | | | | | | | | | |
Operating leases
|
| | | | 9.0% | | | | | | 9.1% | | |
Finance leases
|
| | | | 9.5% | | | | | | 9.5% | | |
| | |
Maturities of Lease Liabilities
|
| |||||||||||||||
For the Years Ending December 31,
|
| |
Operating
Leases |
| |
Finance
Leases |
| |
Total
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
2020 (remaining six months)
|
| | | $ | 121,315 | | | | | $ | 33,139 | | | | | $ | 154,454 | | |
2021
|
| | | | 205,137 | | | | | | 66,279 | | | | | | 271,416 | | |
2022
|
| | | | 132,452 | | | | | | 50,226 | | | | | | 182,678 | | |
2023
|
| | | | 27,439 | | | | | | 42,862 | | | | | | 70,301 | | |
2024
|
| | | | 11,376 | | | | | | 32,147 | | | | | | 43,523 | | |
Thereafter
|
| | | | 42,414 | | | | | | — | | | | | | 42,414 | | |
Total lease payments
|
| | | | 540,133 | | | | | | 224,653 | | | | | | 764,786 | | |
Less: Imputed interest
|
| | | | (68,841) | | | | | | (35,844) | | | | | | (104,685) | | |
Total
|
| | | | 471,292 | | | | | | 188,809 | | | | | | 660,101 | | |
Less: Current portion
|
| | | | (204,138) | | | | | | (50,860) | | | | | | (254,998) | | |
Long-term portion of lease obligations
|
| | | $ | 267,154 | | | | | $ | 137,949 | | | | | $ | 405,103 | | |
|
| | |
As of
|
| |||||||||||||||||||||
| | | | | | ||||||||||||||||||||
| | |
Carrying
Amount |
| |
Fair Value
|
| |
Carrying
Amount |
| |
Fair Value
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
5 1∕8% Senior Notes due 2020(1)
|
| | | $ | — | | | | | $ | — | | | | | $ | 1,100,000 | | | | | $ | 1,110,208 | | |
6 3∕4% Senior Notes due 2021(2)
|
| | | | 2,000,000 | | | | | | 2,045,100 | | | | | | 2,000,000 | | | | | | 2,109,420 | | |
5 7∕8% Senior Notes due 2022
|
| | | | 2,000,000 | | | | | | 2,043,040 | | | | | | 2,000,000 | | | | | | 2,129,580 | | |
5% Senior Notes due 2023
|
| | | | 1,500,000 | | | | | | 1,495,545 | | | | | | 1,500,000 | | | | | | 1,543,770 | | |
5 7∕8% Senior Notes due 2024
|
| | | | 2,000,000 | | | | | | 2,000,340 | | | | | | 2,000,000 | | | | | | 2,049,080 | | |
7 3∕4% Senior Notes due 2026
|
| | | | 2,000,000 | | | | | | 2,130,880 | | | | | | 2,000,000 | | | | | | 2,128,900 | | |
Other notes payable
|
| | | | 25,996 | | | | | | 25,996 | | | | | | 25,996 | | | | | | 25,996 | | |
Subtotal
|
| | | | 9,525,996 | | | | | $ | 9,740,901 | | | | | | 10,625,996 | | | | | $ | 11,096,954 | | |
Unamortized deferred financing costs and debt discounts, net
|
| | | | (13,581) | | | | | | | | | | | | (16,250) | | | | | | | | |
Finance lease obligations(3)
|
| | | | 188,809 | | | | | | | | | | | | 212,617 | | | | | | | | |
Total long-term debt and finance lease obligations (including current portion)
|
| | | $ | 9,701,224 | | | | | | | | | | | $ | 10,822,363 | | | | | | | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
Revenue:
|
| |
2020
|
| |
2019
|
| |
2020
|
| |
2019
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
United States
|
| | | $ | 3,144,992 | | | | | $ | 3,155,828 | | | | | $ | 6,302,296 | | | | | $ | 6,282,937 | | |
Canada and Mexico
|
| | | | 3,539 | | | | | | 10,771 | | | | | | 14,017 | | | | | | 21,662 | | |
Total revenue
|
| | | $ | 3,148,531 | | | | | $ | 3,166,599 | | | | | $ | 6,316,313 | | | | | $ | 6,304,599 | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
Category:
|
| |
2020
|
| |
2019
|
| |
2020
|
| |
2019
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Pay-TV video and related revenue
|
| | | $ | 3,117,334 | | | | | $ | 3,117,066 | | | | | $ | 6,248,234 | | | | | $ | 6,215,002 | | |
Equipment sales and other revenue
|
| | | | 31,197 | | | | | | 49,533 | | | | | | 68,079 | | | | | | 89,597 | | |
Total
|
| | | $ | 3,148,531 | | | | | $ | 3,166,599 | | | | | $ | 6,316,313 | | | | | $ | 6,304,599 | | |
Allowance for credit losses
|
| |
Balance at
Beginning of Period |
| |
Current Period
Provision for Expected Credit Losses |
| |
Write-offs
Charged Against Allowance |
| |
Balance
at End of Period |
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
For the six months ended June 30, 2020
|
| | | $ | 19,280 | | | | | $ | 51,808 | | | | | $ | (29,900) | | | | | $ | 41,188 | | |
| | |
Contract
Liabilities |
| |||
| | |
(In thousands)
|
| |||
Balance as of December 31, 2019
|
| | | $ | 609,054 | | |
Recognition of unearned revenue
|
| | | | (2,951,822) | | |
Deferral of revenue
|
| | | | 2,925,648 | | |
Balance as of June 30, 2020
|
| | | $ | 582,880 | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
| | | | |
2019
|
| |
2020
|
| |
2019
|
| |||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Purchases (including fees): | | | | | | | | | | | | | | | | | | | | | | | | | |
Purchases from NagraStar
|
| | | $ | 13,259 | | | | | $ | 14,355 | | | | | $ | 27,351 | | | | | $ | 28,714 | | |
|
| | |
As of
|
| |||||||||
| | | | | | ||||||||
| | |
(In thousands)
|
| |||||||||
Amounts Payable and Commitments: | | | | | | | | | | | | | |
Amounts payable to NagraStar
|
| | | $ | 17,930 | | | | | $ | 9,630 | | |
Commitments to NagraStar
|
| | | $ | 4,159 | | | | | $ | 4,893 | | |
| | |
For the Three Months Ended
June 30, |
| |
For the Six Months Ended
June 30, |
| ||||||||||||||||||
| | | | |
2019
|
| |
2020
|
| |
2019
|
| |||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||
Sales: | | | | | | | | | | | | | | | | | | | | | | | | | |
Uplink services
|
| | | $ | 1,288 | | | | | $ | 1,412 | | | | | $ | 2,669 | | | | | $ | 2,816 | | |
Total
|
| | | $ | 1,288 | | | | | $ | 1,412 | | | | | $ | 2,669 | | | | | $ | 2,816 | | |
|
| | |
As of
|
| |||||||||
| | | | | | ||||||||
| | |
(In thousands)
|
| |||||||||
Amounts Receivable: | | | | | | | | | | | | | |
Amounts receivable from Dish Mexico
|
| | | $ | 2,116 | | | | | $ | 1,191 | | |
|
EXHIBIT NO.
|
| |
DESCRIPTION
|
|
| | | Subsidiaries of DISH DBS Corporation. | | |
| | | Consent of KPMG LLP. | | |
| | | Consent of Sullivan & Cromwell LLP (included as part of Exhibit 5.1). | | |
| | | Consent of Brandon Ehrhart, Senior Vice President, Deputy General Counsel and Secretary of DISH DBS Corporation (included as part of Exhibit 5.2). | | |
| | | Powers of Attorney (included on the signature pages hereto). | | |
| | | Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939 of U.S. Bank National Association, as trustee under the Indenture. | | |
| | | Form of Letter of Transmittal. | | |
| | | Form of Notice of Guaranteed Delivery. | | |
|
101
|
| | The following materials from (A) the Annual Report on Form 10-K of DISH DBS Corporation for the year ended December 31, 2019, filed on February 25, 2020, formatted in Inline eXtensible Business Reporting Language (“XBRL”): (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Operations and Comprehensive Income (Loss), (iii) Consolidated Statement of Changes in Stockholder’s Equity (Deficit), (iv) Consolidated Statements of Cash Flows, and (v) related notes to these financial statements, and (B) the Quarterly Report on Form 10-Q of DISH DBS Corporation for the quarter ended June 30, 2020, filed on August 14, 2020 formatted in XBRL: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), (iii) Condensed Consolidated Statements of Cash Flows and (iv) related notes to these financial statements. | |
|
Signature
|
| |
Title
|
| |
Date
|
|
|
/s/ W. Erik Carlson
|
| |
President and Chief Executive Officer
(Principal Executive Officer) |
| | | |
|
/s/ Paul W. Orban
|
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Executive Vice President
and Chief Financial Officer (Principal Financial and Accounting Officer) |
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/s/ Charles W. Ergen
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Chairman
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| | | |
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/s/ James DeFranco
|
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Director
|
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Director
|
| | |
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Signature
|
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Title
|
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Date
|
|
|
/s/ W. Erik Carlson
|
| |
President and Chief Executive Officer
(Principal Executive Officer) |
| | | |
|
/s/ Paul W. Orban
|
| |
Executive Vice President
and Chief Financial Officer (Principal Financial and Accounting Officer) |
| | | |
|
/s/ Paul W. Orban
DISH DBS Corporation
As Sole Member By: Paul W. Orban Executive Vice President and Chief Financial Officer |
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Sole Member
|
| | |
|
Signature
|
| |
Title
|
| |
Date
|
|
|
/s/ W. Erik Carlson
|
| |
President and Chief Executive Officer
(Principal Executive Officer) |
| | | |
|
/s/ Paul W. Orban
|
| |
Executive Vice President
and Chief Financial Officer (Principal Financial and Accounting Officer) |
| | | |
|
/s/ Paul W. Orban
DISH Network L.L.C.
As Sole Member By: Paul W. Orban Executive Vice President and Chief Financial Officer |
| |
Sole Member
|
| | |
|
Signature
|
| |
Title
|
| |
Date
|
|
|
/s/ W. Erik Carlson
|
| |
President and Chief Executive Officer
(Principal Executive Officer) |
| | | |
|
/s/ Paul W. Orban
|
| |
Executive Vice President
and Chief Financial Officer (Principal Financial and Accounting Officer) |
| | | |
|
/s/ Paul W. Orban
DISH Technologies Holding Corporation
As Sole Member By: Paul W. Orban Executive Vice President and Chief Financial Officer |
| |
Sole Member
|
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This ‘S-4’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/31 | ||||
7/1/28 | ||||
7/1/26 | ||||
11/15/24 | ||||
12/31/23 | ||||
7/1/23 | ||||
3/15/23 | ||||
9/30/22 | ||||
7/15/22 | ||||
1/1/22 | ||||
6/1/21 | ||||
3/22/21 | ||||
3/1/21 | ||||
1/1/21 | ||||
12/31/20 | 10-K, SD | |||
10/26/20 | ||||
Filed on: | 8/19/20 | CORRESP | ||
8/14/20 | 10-Q | |||
7/31/20 | ||||
7/29/20 | ||||
7/24/20 | ||||
7/20/20 | ||||
7/17/20 | ||||
7/13/20 | ||||
7/10/20 | ||||
7/1/20 | 8-K | |||
6/30/20 | 10-Q | |||
6/29/20 | ||||
6/25/20 | 8-K | |||
6/10/20 | ||||
6/9/20 | ||||
6/5/20 | ||||
6/3/20 | ||||
5/29/20 | SD | |||
5/21/20 | ||||
5/12/20 | 10-Q | |||
5/5/20 | ||||
5/1/20 | ||||
4/20/20 | ||||
4/14/20 | ||||
4/9/20 | ||||
3/31/20 | 10-Q | |||
3/29/20 | ||||
3/26/20 | ||||
3/16/20 | ||||
3/10/20 | ||||
3/7/20 | ||||
3/6/20 | ||||
3/5/20 | ||||
2/25/20 | 10-K | |||
2/24/20 | ||||
2/12/20 | ||||
2/10/20 | ||||
2/4/20 | ||||
1/31/20 | ||||
1/28/20 | ||||
1/23/20 | ||||
1/22/20 | ||||
1/21/20 | ||||
1/17/20 | ||||
1/15/20 | ||||
1/9/20 | ||||
1/7/20 | ||||
1/6/20 | ||||
1/1/20 | ||||
12/31/19 | 10-K, SD | |||
12/30/19 | ||||
12/20/19 | ||||
12/19/19 | ||||
12/16/19 | ||||
12/15/19 | ||||
12/13/19 | CT ORDER | |||
12/5/19 | ||||
12/3/19 | ||||
11/22/19 | ||||
11/13/19 | ||||
11/8/19 | ||||
11/6/19 | ||||
11/5/19 | ||||
10/18/19 | ||||
10/15/19 | ||||
10/11/19 | ||||
9/27/19 | ||||
9/10/19 | ||||
9/3/19 | ||||
8/12/19 | 10-Q | |||
8/1/19 | ||||
7/26/19 | ||||
7/22/19 | ||||
7/19/19 | ||||
7/15/19 | ||||
7/11/19 | ||||
7/10/19 | ||||
7/8/19 | ||||
7/2/19 | 8-K | |||
6/30/19 | 10-Q | |||
6/25/19 | ||||
6/10/19 | ||||
6/3/19 | ||||
5/30/19 | ||||
5/19/19 | ||||
5/14/19 | ||||
5/9/19 | ||||
4/23/19 | ||||
3/31/19 | 10-Q | |||
3/29/19 | ||||
3/28/19 | ||||
3/26/19 | ||||
3/7/19 | 10-K | |||
2/26/19 | ||||
2/11/19 | ||||
2/6/19 | ||||
1/31/19 | ||||
1/28/19 | ||||
1/1/19 | ||||
12/31/18 | 10-K, 10-K/A, SD | |||
12/20/18 | ||||
11/27/18 | ||||
11/11/18 | ||||
10/26/18 | ||||
10/22/18 | ||||
10/12/18 | ||||
10/9/18 | ||||
10/1/18 | ||||
9/17/18 | ||||
9/5/18 | ||||
8/28/18 | ||||
8/17/18 | ||||
8/6/18 | ||||
8/1/18 | ||||
7/25/18 | ||||
7/23/18 | ||||
7/6/18 | ||||
7/3/18 | ||||
6/30/18 | 10-Q | |||
6/11/18 | ||||
6/8/18 | 8-K | |||
6/4/18 | ||||
5/15/18 | 10-Q | |||
4/24/18 | ||||
4/5/18 | ||||
3/31/18 | 10-Q, 8-K | |||
3/12/18 | ||||
3/5/18 | ||||
2/10/18 | ||||
2/7/18 | ||||
1/24/18 | ||||
1/12/18 | ||||
1/9/18 | ||||
1/4/18 | ||||
1/1/18 | ||||
12/31/17 | 10-K, SD | |||
12/22/17 | ||||
12/20/17 | ||||
12/14/17 | ||||
11/13/17 | ||||
11/8/17 | ||||
11/6/17 | ||||
10/26/17 | ||||
10/19/17 | ||||
10/10/17 | ||||
10/6/17 | ||||
9/30/17 | 10-Q | |||
9/12/17 | ||||
8/31/17 | ||||
8/29/17 | ||||
8/10/17 | ||||
8/8/17 | ||||
7/28/17 | ||||
7/19/17 | ||||
7/18/17 | ||||
7/3/17 | ||||
6/12/17 | ||||
6/6/17 | ||||
6/5/17 | ||||
5/22/17 | ||||
3/2/17 | ||||
3/1/17 | ||||
2/28/17 | ||||
2/27/17 | ||||
2/14/17 | ||||
2/13/17 | ||||
2/9/17 | ||||
1/31/17 | 8-K | |||
1/19/17 | ||||
1/1/17 | ||||
12/31/16 | 10-K | |||
12/20/16 | ||||
12/2/16 | ||||
11/4/16 | ||||
11/2/16 | ||||
10/31/16 | ||||
10/25/16 | ||||
9/26/16 | ||||
9/23/16 | ||||
8/23/16 | ||||
8/19/16 | ||||
7/20/16 | ||||
7/14/16 | ||||
6/18/16 | ||||
6/16/16 | ||||
6/13/16 | 8-K | |||
5/16/16 | ||||
2/11/16 | ||||
2/10/16 | ||||
1/19/16 | ||||
12/31/15 | 10-K | |||
10/27/15 | ||||
9/9/15 | ||||
8/18/15 | ||||
8/1/15 | ||||
7/17/15 | ||||
6/30/15 | 10-Q | |||
5/13/15 | ||||
2/11/15 | ||||
12/31/14 | 10-K | |||
12/12/14 | ||||
11/20/14 | 8-K | |||
5/28/14 | ||||
3/13/14 | ||||
3/1/14 | ||||
12/31/13 | 10-K | |||
12/23/13 | ||||
4/5/13 | 8-K | |||
12/27/12 | 8-K | |||
12/21/12 | 8-K | |||
7/26/12 | 8-K | |||
5/16/12 | 8-K | |||
1/1/12 | ||||
9/29/11 | ||||
5/5/11 | 8-K | |||
1/1/10 | ||||
3/25/09 | ||||
12/12/08 | 8-K | |||
1/1/08 | 8-K | |||
12/31/03 | 10-K | |||
8/25/03 | ||||
1/1/02 | ||||
12/28/01 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/26/20 SEC UPLOAD¶ 9/29/20 2:43K DISH Network LLC |