Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting

Schedule of revenue, expense, operating income (loss) and OIBDA by segment and purchases of property and equipment, net of refunds


		Pay-TV			Wireless			Broadband and Satellite Services			Other			Segment Total			Eliminations			Consolidated Total

		(In thousands)
For the Three Months Ended March 31, 2026
Revenue
Revenue from external customers:
Service revenue		$	2,260,364		$	868,183		$	246,993		$	—		$	3,375,540		$	—		$	3,375,540
Equipment sales and other revenue			31,983			93,852			75,238			90,876			291,949			—			291,949
Intersegment revenue			1,917			456			7,425			107			9,905			(9,905)			—
Total revenue			2,294,264			962,491			329,656			90,983			3,677,394			(9,905)			3,667,489

Operating Expenses
Cost of services:
Programming			1,100,920			—			—			—			1,100,920			—			1,100,920
Connectivity services (1)			48,927			325,384			43,915			—			418,226			(1,814)			416,412
Other (2)			265,853			154,817			58,437			—			479,107			1,829			480,936
Total cost of services			1,415,700			480,201			102,352			—			1,998,253			15			1,998,268
Cost of sales - equipment and other			32,101			251,147			70,890			183,132			537,270			(363)			536,907
Selling, general and administrative expenses:
Subscriber acquisition costs			70,051			159,762			28,389			—			258,202			(3,955)			254,247
Selling, general and administrative expenses			248,979			57,664			33,901			50,000			390,544			(5,766)			384,778
Total selling, general and administrative expenses			319,030			217,426			62,290			50,000			648,746			(9,721)			639,025
Impairments and other			—			—			—			(66,159)			(66,159)			—			(66,159)

OIBDA (3)			527,433			13,717			94,124			(75,990)			559,284			164			559,448

Depreciation and amortization			55,866			49,499			49,940			11,305			166,610			(9)			166,601
Total costs and expenses			1,822,697			998,273			285,472			178,278			3,284,720			(10,078)			3,274,642

Operating income (loss)		$	471,567		$	(35,782)		$	44,184		$	(87,295)		$	392,674		$	173			392,847

Unallocated Amounts
Interest income																					29,409
Interest expense, net of amounts capitalized																					(592,660)
Other, net																					2,184
Income (loss) before income taxes																				$	(168,220)

(1)	“Connectivity services” is the cost to deliver our services and products to customers, which includes, among other things, network, data, satellite and transmission and other related costs.

(2)	“Other” primarily consists of variable costs including call center, manufacturing, dealer incentive, bad debt, billing and other variable costs, as well as costs to retain our subscribers.

(3)

OIBDA is a non-GAAP measure and does not purport to be an alternative to operating income (loss) as a measure of operating performance. We believe this measure is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors.


		Pay-TV			Wireless			Broadband and Satellite Services			Other			Segment Total			Eliminations			Consolidated Total

		(In thousands)
For the Three Months Ended March 31, 2025
Revenue
Revenue from external customers:
Service revenue		$	2,521,552		$	809,607		$	274,997		$	—		$	3,606,156		$	—		$	3,606,156
Equipment sales and other revenue			12,955			160,061			88,523			2,063			263,602			—			263,602
Intersegment revenue			4,220			—			7,138			60,234			71,592			(71,592)			—
Total revenue			2,538,727			969,668			370,658			62,297			3,941,350			(71,592)			3,869,758

Operating Expenses
Cost of services:
Programming			1,216,422			—			—			—			1,216,422			—			1,216,422
Connectivity services			54,134			321,330			49,159			343,080			767,703			(44,526)			723,177
Other			286,080			144,132			63,966			—			494,178			(1,579)			492,599
Total cost of services			1,556,636			465,462			113,125			343,080			2,478,303			(46,105)			2,432,198
Cost of sales - equipment and other			9,672			349,218			81,734			—			440,624			(1,116)			439,508
Selling, general and administrative expenses:
Subscriber acquisition costs			86,513			190,485			46,432			—			323,430			(889)			322,541
Selling, general and administrative expenses			156,033			38,210			43,664			43,698			281,605			(6,295)			275,310
Total selling, general and administrative expenses			242,546			228,695			90,096			43,698			605,035			(7,184)			597,851

OIBDA			729,873			(73,707)			85,703			(324,481)			417,388			(17,187)			400,201

Depreciation and amortization			76,443			20,187			104,898			303,929			505,457			(17,124)			488,333
Total costs and expenses			1,885,297			1,063,562			389,853			690,707			4,029,419			(71,529)			3,957,890

Operating income (loss)		$	653,430		$	(93,894)		$	(19,195)		$	(628,410)		$	(88,069)		$	(63)			(88,132)

Unallocated Amounts
Interest income																					65,529
Interest expense, net of amounts capitalized																					(286,055)
Other, net																					41,390
Income (loss) before income taxes																				$	(267,268)


		Pay-TV			Wireless			Broadband and Satellite Services			Other			Consolidated Total

		(In thousands)
For the Three Months Ended March 31, 2026
Purchases of property and equipment (including capitalized interest related to regulatory authorizations)		$	88,128		$	28,833		$	11,610		$	4,864		$	133,435

For the Three Months Ended March 31, 2025
Purchases of property and equipment (including capitalized interest related to regulatory authorizations)		$	62,388		$	—		$	32,103		$	283,993		$	378,484

Schedule of revenue from customers disaggregated by major revenue source


		For the Three Months Ended
		March 31,
Category:		2026			2025

		(In thousands)
Pay-TV subscriber and related revenue			2,261,698			2,524,352
Wireless services and related revenue			868,183			809,607
Broadband and satellite services and other revenue			248,659			276,944
Pay-TV equipment sales and other revenue			32,566			14,375
Wireless equipment sales and other revenue			94,308			160,061
Broadband equipment and other revenue			80,997			93,714
Other equipment and other revenue			90,983			62,297
Eliminations			(9,905)			(71,592)
Total revenue		$	3,667,489		$	3,869,758