Three months ended
June 30,

Six months ended
June 30,

2026

2025

2026

2025

Interest on indebtedness

$

65,802

$

57,453

$

127,270

$

113,905

Interest on significant financing component

2,711

3,095

5,495

6,379

Interest on leases

659

589

1,101

1,035

Interest on satellite performance incentive payments

192

237

391

489

Interest on employee benefit plans

(502

)

(268

)

(1,005

)

(533

)

Capitalized interest

(18,416

)

(7,475

)

(32,848

)

(10,980

)

Interest expense

$

50,446

$

53,631

$

100,404

$

110,295