| Segment Revenues, Expenses and Operating Profits (Losses) |
Segment revenues, expenses and operating profits (losses) for the fiscal years ended March 31, 2026, 2025 and 2024 were as follows:
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Fiscal Years Ended |
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March 31, 2026 |
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March 31, 2025 |
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March 31, 2024 |
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(In thousands) |
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Revenues: |
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Communication services |
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Aviation services |
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$ |
1,191,426 |
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$ |
1,048,225 |
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$ |
864,834 |
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Government satcom services |
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795,043 |
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754,552 |
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596,826 |
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Maritime services |
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463,061 |
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477,968 |
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430,090 |
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Fixed services and other services |
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607,693 |
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741,601 |
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906,762 |
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Total services |
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3,057,223 |
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3,022,346 |
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2,798,512 |
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Total products |
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242,428 |
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276,139 |
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343,028 |
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Total communication services revenues |
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3,299,651 |
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3,298,485 |
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3,141,540 |
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Defense and advanced technologies |
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Total services |
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217,200 |
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203,430 |
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206,082 |
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Information security and cyber defense products |
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414,482 |
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325,439 |
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302,056 |
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Space and mission systems products |
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330,867 |
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304,870 |
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309,253 |
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Tactical networking products |
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329,417 |
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319,577 |
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202,094 |
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Advanced technologies and other products |
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48,663 |
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67,770 |
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122,733 |
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Total products |
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1,123,429 |
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1,017,656 |
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936,136 |
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Total defense and advanced technologies revenues |
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1,340,629 |
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1,221,086 |
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1,142,218 |
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Elimination of intersegment revenues |
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— |
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— |
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— |
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Total revenues |
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$ |
4,640,280 |
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$ |
4,519,571 |
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$ |
4,283,758 |
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Expenses: |
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Communication services |
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Depreciation |
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$ |
990,147 |
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$ |
988,447 |
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$ |
825,788 |
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Stock-based compensation expense |
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48,685 |
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48,760 |
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52,662 |
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Other than acquired intangible assets amortization (1) |
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37,321 |
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41,373 |
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50,718 |
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Acquisition and transaction related expenses |
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19,691 |
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50,807 |
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114,113 |
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Ground network (FY25), satellite (FY24) impairment
and related charges, net |
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— |
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169,400 |
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905,496 |
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Other segment items (2) |
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2,051,254 |
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2,049,920 |
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2,009,817 |
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Total communication services expenses (3) |
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3,147,098 |
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3,348,707 |
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3,958,594 |
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Defense and advanced technologies |
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Depreciation |
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48,368 |
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48,020 |
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41,853 |
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Stock-based compensation expense |
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32,385 |
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31,625 |
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30,969 |
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Other than acquired intangible assets amortization (1) |
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22,611 |
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19,034 |
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12,000 |
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Acquisition and transaction related expenses |
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4,701 |
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13,660 |
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43,466 |
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Other segment items (2) |
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1,016,280 |
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892,072 |
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859,517 |
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Total defense and advanced technologies expenses (3) |
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1,124,345 |
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1,004,411 |
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987,805 |
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Total expenses |
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$ |
4,271,443 |
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$ |
4,353,118 |
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$ |
4,946,399 |
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Operating profits (losses): |
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Communication services |
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$ |
152,553 |
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$ |
(50,222 |
) |
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$ |
(817,054 |
) |
Defense and advanced technologies |
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216,284 |
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216,675 |
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154,413 |
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Elimination of intersegment operating profits (losses) |
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— |
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— |
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— |
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Segment operating profit (loss) before corporate
and amortization of acquired intangible assets |
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368,837 |
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166,453 |
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(662,641 |
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Corporate: |
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Amortization of acquired intangible assets |
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(260,712 |
) |
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(263,933 |
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(227,165 |
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Interest income |
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205,849 |
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83,920 |
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96,258 |
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Interest expense |
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(360,250 |
) |
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(421,944 |
) |
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(400,398 |
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(Loss) gain on extinguishment of debt, net |
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(11,935 |
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(99,814 |
) |
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— |
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Other income (expense), net |
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163,012 |
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(9,976 |
) |
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— |
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Income (loss) from continuing operations before income taxes |
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$ |
104,801 |
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$ |
(545,294 |
) |
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$ |
(1,193,946 |
) |
(1)Including amortization of capitalized cloud computing implementation costs. (2)Other segment items include operating expenses such as cost of service and product revenues, selling, general and administrative expenses, IR&D expenses and related activities excluding allocable portion of depreciation, other than acquired intangibles amortization, stock-based compensation, and certain significant items that are disclosed under each segment. (3)For fiscal years 2026, 2025, and 2024, IR&D expense and related activities, including allocable depreciation, stock-based compensation and other expenses were $93.1 million, $83.4 million and $105.0 million, respectively, for the communication services segment, and $71.8 million, $59.0 million and $45.7 million, respectively, for the defense and advanced technologies segment.
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