LEASES (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| LEASES |
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| Schedule of right-of-use assets and lease liabilities |
| | | | | | | | | | As of | | | | March 31, 2025 | | December 31, 2024 | | | | | (In thousands) | | Right-of-use assets: | | | | | | | | Operating | | $ | 914,043 | | $ | 939,896 | | Finance | | | 180,580 | | | 183,391 | | Total right-of-use assets | | $ | 1,094,623 | | $ | 1,123,287 | | | | | | | | | | Lease liabilities: | | | | | | | | Current: | | | | | | | | Operating | | $ | 118,560 | | $ | 72,393 | | Finance | | | — | | | — | | Total current | | | 118,560 | | | 72,393 | | Noncurrent: | | | | | | | | Operating | | | 802,444 | | | 830,629 | | Finance | | | — | | | — | | Total noncurrent | | | 802,444 | | | 830,629 | | Total lease liabilities | | $ | 921,004 | | $ | 903,022 | | | | | | | | | | Weighted Average Remaining Lease Term: | | | | | | | | Finance leases | | | 0.0 years | | | 0.0 years | | Operating leases | | | 6.3 years | | | 6.6 years | | | | | | | | | | Weighted Average Discount Rate: | | | | | | | | Finance leases | | | — | % | | — | % | Operating leases | | | 12.0 | % | | 12.0 | % |
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| Schedule of components of lease cost and supplemental cash flow information |
| | | | | | | | | For the Three Months Ended | | | March 31, | | | 2025 | | 2024 | | | | (In thousands) | Lease cost: | | | | | | | Operating lease cost | | $ | 6,572 | | $ | 6,647 | Operating lease cost - EchoStar XXIV | | | 47,675 | | | 47,757 | Total operating lease cost | | | 54,247 | | | 54,404 | Finance lease cost: | | | | | | | Amortization of right-of-use assets | | | 5,832 | | | 4,523 | Interest on lease liabilities | | | — | | | — | Total finance lease cost | | | 5,832 | | | 4,523 | Short-term lease cost | | | — | | | — | Variable lease cost | | | — | | | — | Total lease cost | | $ | 60,079 | | $ | 58,927 |
Supplemental cash flow information related to leases was as follows: | | | | | | | | | For the Three Months Ended | | | March 31, | | | 2025 | | 2024 | | | | (In thousands) | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | Operating cash flows from operating leases | | $ | 10,450 | | $ | 170,259 | Operating cash flows from finance leases | | | — | | | — | Financing cash flows from finance leases | | | — | | | — | | | | | | | | Right-of-use assets obtained in exchange for lease obligations: | | | | | | | Operating leases | | | 464 | | | — | Finance leases | | | — | | | — |
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| Schedule of maturities of lease liabilities |
| | | | For the Years Ending December 31, | | Total | | | | (In thousands) | 2025 (remaining nine months) | | $ | 163,023 | 2026 | | | 216,462 | 2027 | | | 215,109 | 2028 | | | 212,980 | 2029 | | | 212,066 | Thereafter | | | 272,071 | Total lease payments | | | 1,291,711 | Less: Imputed interest | | | (370,707) | Total | | | 921,004 | Less: Current portion | | | 118,560 | Long-term portion of lease obligations | | $ | 802,444 |
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| Schedule of components of income from sales-type lease and operating lease |
| | | | | | | | | For the Three Months Ended March 31, | | | 2025 | | 2024 | | Sales-type lease revenue: | | (In thousands) | Revenue at lease commencement | | $ | 1,783 | | $ | 549 | Interest income | | | 414 | | | 535 | Total sales-type lease revenue | | | 2,197 | | | 1,084 | Operating lease revenue | | | 2,487 | | | 6,555 | Total lease revenue (1) | | $ | 4,684 | | $ | 7,639 |
| (1) | The reduction in total lease revenue relates to the loss of a single significant customer. |
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| Schedule of future operating lease payments to be received |
| | | | For the Years Ending December 31, | | Total | | | (In thousands) | 2025 (remaining nine months) | | $ | 7,506 | 2026 | | | 5,535 | 2027 | | | 3,745 | 2028 | | | 1,996 | 2029 | | | 889 | Thereafter | | | 158 | Total lease payments to be received | | $ | 19,829 |
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