v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities:    
Net income (loss) $ (462,596) $ (222,055)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 772,466 758,184
Realized and unrealized losses (gains) on investments, impairments and other (25,493) 914
Realized losses (gains) on Sale of Assets to EchoStar   (128,788)
Non-cash, stock-based compensation 10,009 13,038
Deferred tax expense (benefit) (171,635) (45,666)
Changes in allowance for credit losses 14,823 29,544
Change in long-term deferred revenue and other long-term liabilities 110,827 74,388
Other, net 7,678 93,306
Changes in operating assets and operating liabilities, net (175,564) 130,846
Net cash flows from operating activities 80,515 703,711
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (54,517) (10,730)
Sales and maturities of marketable investment securities 26,894 31,618
Purchases of property and equipment (Note 6) (476,379) (692,352)
Capitalized interest related to regulatory authorizations (Note 2) (450,924) (398,824)
Purchases of regulatory authorizations, including deposits   (1,104)
Sale of Assets to EchoStar (Note 12)   245,800
700 MHz Spectrum Sale to EchoStar (Note 12)   1,024,857
Sale of Fiber business 47,207  
Other, net 1,824 (37,733)
Net cash flows from investing activities (905,895) 161,532
Cash Flows From Financing Activities:    
Repayment of long-term debt, finance lease and other obligations (36,301) (49,652)
Redemption and repurchases of term loans, convertible and senior notes (333,333) (951,170)
Proceeds from EchoStar 2024 Intercompany Loan (Note 8) 1,556,895  
Other, net 28 (61)
Net cash flows from financing activities 1,187,289 (1,000,883)
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents 361,909 (135,640)
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 4) 730,789 462,748
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 4) $ 1,092,698 $ 327,108