As of
March 31, 2026

As of
March 31, 2025

(In thousands)

Accounts receivable, net:

Billed

$

539,758

$

539,522

Unbilled

227,840

180,871

Allowance for doubtful accounts

(14,168

)

(20,841

)

$

753,430

$

699,552

Inventories:

Raw materials

$

108,697

$

96,893

Work in process

25,054

19,761

Finished goods

147,469

177,289

$

281,220

$

293,943

Prepaid expenses and other current assets:

Prepaid expenses

$

179,081

176,694

Other

163,441

105,649

$

342,522

$

282,343

Property, equipment and satellites, net:

Equipment and software (estimated useful life of 3-10 years)

$

4,298,300

$

3,837,083

CPE leased equipment (estimated useful life of 3-7 years)

522,882

525,972

Furniture and fixtures (estimated useful life of 7-10 years)

54,185

58,153

Leasehold improvements (estimated useful life of 2-20 years)

325,087

313,249

Buildings (estimated useful life of 20-38 years)

15,062

15,388

Land

11,251

19,661

Construction in progress

662,841

722,194

Satellites (estimated useful life of 7-17 years)

3,410,741

3,405,067

Satellite Ka-band capacity obtained under finance leases (estimated useful life of 7-15 years)

339,428

338,201

Satellites under construction

2,644,050

2,205,305

12,283,827

11,440,273

Less: accumulated depreciation and amortization

(5,011,190

)

(4,034,609

)

$

7,272,637

$

7,405,664

Other assets:

Deferred income taxes

$

68,699

$

160,452

Capitalized software costs, net

316,947

264,492

Patents, orbital slots and other licenses, net

120,194

119,193

Other

273,669

301,641

$

779,509

$

845,778

Accrued and other liabilities:

Collections in excess of revenues and deferred revenues

$

292,592

$

294,034

Accrued employee compensation

207,741

185,556

Operating lease liabilities

60,879

65,310

Interest payable

34,064

52,183

Other

355,916

311,446

$

951,192

$

908,529

Other liabilities:

Deferred revenues, long-term portion

$

1,064,261

$

786,710

Deferred income taxes

1,016,850

1,069,717

Other

298,190

324,726

$

2,379,301

$

2,181,153