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SCHEDULE I - Parent Company Information | 12 Months Ended
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Dec. 31, 2015
SCHEDULE I - Parent Company Information |
SCHEDULE I - Parent Company Information | SCHEDULE I We have corrected errors in the presentation of certain assets and liabilities as of December 31, 2014 and in the presentation of related cash flows for the years ended December 31, 2014 and 2013 in the following condensed financial information of the registrant (parent company information only). We do not believe these errors were material to the condensed financial information. The errors were limited to the condensed financial information of registrant and did not affect any other reported amounts or disclosures in our consolidated financial statements.
|  | As of |  |  |  |  |
|  | December 31, 2014 |  |  |  |  |
|  | As previously reported |  | As adjusted |  |  |  |  |
|  | (In thousands) |  |  |  |  |
Condensed Balance Sheet Data |  |  |  |  |  |  |  |  |
Other current assets |  | $ | — |  | $ | 6,796 |  |  |  |  |
Investments in consolidated subsidiaries, including intercompany balances |  | $ | 2,547,478 |  | $ | 2,034,447 |  |  |  |  |
Deferred tax assets |  | $ | 340,852 |  | $ | 340,246 |  |  |  |  |
Total assets |  | $ | 4,042,822 |  | $ | 3,535,981 |  |  |  |  |
Accrued expenses and other |  | $ | 509,654 |  | $ | 2,813 |  |  |  |  |
Total liabilities |  | $ | 509,654 |  | $ | 2,813 |  |  |  |  |
Total liabilities and stockholders’ equity |  | $ | 4,042,822 |  | $ | 3,535,981 |  |  |  |  |
|  | For the Years Ended |
|  | December 31, 2014 |  | December 31, 2013 |
|  | As previously reported |  | As adjusted |  | As previously reported |  | As adjusted |
|  | (In thousands) |
Condensed Statement of Cash Flows Data |  |  |  |  |  |  |  |  |
Deferred tax provision (benefit) |  | $ | (267,175 | ) | $ | (1,105 | ) | $ | 33,380 |  | $ | 7,473 |
Changes in current assets and current liabilities, net |  | $ | 298,661 |  | $ | 6,389 |  | $ | 88,677 |  | $ | 11,426 |
Changes in noncurrent assets and noncurrent liabilities, net |  | $ | (975 | ) | $ | 35 |  | $ | (88,874 | ) | $ | — |
Net cash flows from operating activities |  | $ | 63,114 |  | $ | 37,922 |  | $ | 55,205 |  | $ | 40,921 |
Contributions to subsidiaries and affiliates, net |  | $ | (300,737 | ) | $ | (275,545 | ) | $ | (98,387 | ) | $ | (84,103 | )
Net cash flows from investing activities |  | $ | (215,088 | ) | $ | (189,896 | ) | $ | (198,434 | ) | $ | (184,150 | )
CONDENSED BALANCE SHEETS (Parent Company Information Only— See notes to consolidated financial statements) (In thousands, except per share amounts)
|  | As of December 31, |
|  | 2015 |  | 2014 |
|  |  |  | (As adjusted) |
Assets |  |  |  |  |
Current Assets: |  |  |  |  |
Cash and cash equivalents |  | $ | 530,678 |  | $ | 273,646 |
Marketable investment securities |  | 358,995 |  | 744,112 |
Other current assets |  | 2,560 |  | 6,796 |
Total current assets |  | 892,233 |  | 1,024,554 |
Noncurrent Assets: |  |  |  |  |
Investments in consolidated subsidiaries, including intercompany balances |  | 2,446,916 |  | 2,034,447 |
Restricted cash and marketable investment securities |  | 862 |  | 1,293 |
Deferred tax assets |  | 245,457 |  | 340,246 |
Other intangible assets, net |  | 5,221 |  | 22,185 |
Investments in unconsolidated entities |  | 26,476 |  | 25,319 |
Other receivable - DISH Network |  | 88,503 |  | 87,937 |
Total noncurrent assets |  | 2,813,435 |  | 2,511,427 |
Total assets |  | $ | 3,705,668 |  | $ | 3,535,981 |
Liabilities and Stockholders’ Equity |  |  |  |  |
Current Liabilities: |  |  |  |  |
Accrued expenses and other |  | 10,190 |  | 2,813 |
Total current liabilities |  | 10,190 |  | 2,813 |
Total liabilities |  | 10,190 |  | 2,813 |
Commitments and Contingencies |  |  |  |  |
Stockholders’ Equity: |  |  |  |  |
Preferred Stock, $.001 par value, 20,000,000 shares authorized: |  |  |  |  |
Hughes Retail Preferred Tracking Stock, $.001 par value, 13,000,000 shares authorized, 6,290,499 issued and outstanding at December 31, 2015 and 2014, respectively |  | 6 |  | 6 |
Common Stock, $.001 par value, 4,000,000,000 shares authorized: |  |  |  |  |
Class A common stock, $.001 par value, 1,600,000,000 shares authorized, 51,087,839 shares issued and 45,555,521 shares outstanding at December 31, 2015 49,576,247 shares issued and 44,043,929 shares outstanding at December 31, 2014 |  | 51 |  | 50 |
Class B common stock, $.001 par value, 800,000,000 shares authorized, 47,687,039 shares issued and outstanding at each of December 31, 2015 and 2014 |  | 48 |  | 48 |
Class C common stock, $.001 par value, 800,000,000 shares authorized, none issued and outstanding at each of December 31, 2015 and 2014 |  | — |  | — |
Class D common stock, $.001 par value, 800,000,000 shares authorized, none issued and outstanding at each of December 31, 2015 and 2014 |  | — |  | — |
Additional paid-in capital |  | 3,776,451 |  | 3,706,122 |
Accumulated other comprehensive loss |  | (117,233 | ) | (55,856 | )
Accumulated earnings (deficit) |  | 134,317 |  | (19,040 | )
Treasury stock, at cost |  | (98,162 | ) | (98,162 | )
Total stockholders’ equity |  | 3,695,478 |  | 3,533,168 |
Total liabilities and stockholders’ equity |  | $ | 3,705,668 |  | $ | 3,535,981 |
ECHOSTAR CORPORATION CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parent Company Information Only— See notes to consolidated financial statements) (In thousands)
|  | For the Years Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Costs and Expenses: |  |  |  |  |  |  |
Selling, general and administrative expenses |  | $ | 1,482 |  | $ | 1,536 |  | $ | 1,598 |
Depreciation and amortization |  | 16,964 |  | 16,965 |  | 16,964 |
Total costs and expenses |  | 18,446 |  | 18,501 |  | 18,562 |
Operating loss |  | (18,446 | ) | (18,501 | ) | (18,562 | )
Other Income (Expense): |  |  |  |  |  |  |
Interest income and expense, net |  | 7,941 |  | 8,880 |  | 7,197 |
Gains (losses) and impairment on marketable investment securities, net |  | (5,067 | ) | 73 |  | 36,280 |
Equity in earnings (losses) of unconsolidated affiliates, net |  | 6,157 |  | (4,389 | ) | (12,068 | )
Other, net |  | 790 |  | 5,835 |  | (598 | )
Total other income, net |  | 9,821 |  | 10,399 |  | 30,811 |
Income (loss) before income taxes and equity in earnings of consolidated subsidiaries, net |  | (8,625 | ) | (8,102 | ) | 12,249 |
Equity in earnings (losses) of consolidated subsidiaries, net |  | 166,731 |  | 159,871 |  | (2,251 | )
Income tax benefit (provision), net |  | (4,749 | ) | 1,105 |  | (7,473 | )
Net income |  | $ | 153,357 |  | $ | 152,874 |  | $ | 2,525 |
Comprehensive Income (Loss): |  |  |  |  |  |  |
Net income |  | $ | 153,357 |  | $ | 152,874 |  | $ | 2,525 |
Other comprehensive loss, net of tax: |  |  |  |  |  |  |
Foreign currency translation adjustments |  | (62,411 | ) | (31,698 | ) | (15,508 | )
Recognition of foreign currency translation loss in net income |  | 1,889 |  | — |  | — |
Unrealized gains (losses) on marketable investment securities and other |  | (12,046 | ) | (9,462 | ) | 18,413 |
Recognition of other-than-temporary loss on marketable investment securities in net income |  | 11,226 |  | — |  | — |
Recognition of realized gains on marketable investment securities in net income |  | (35 | ) | (41 | ) | (36,312 | )
Total other comprehensive loss, net of tax |  | (61,377 | ) | (41,201 | ) | (33,407 | )
Comprehensive income (loss) |  | $ | 91,980 |  | $ | 111,673 |  | $ | (30,882 | )
ECHOSTAR CORPORATION CONDENSED STATEMENTS OF CASH FLOWS (Parent Company Information Only— See notes to consolidated financial statements) (In thousands)
|  | For the Years Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
|  |  |  | (As adjusted) |  | (As adjusted) |
Cash Flows from Operating Activities: |  |  |  |  |  |  |
Net income |  | $ | 153,357 |  | $ | 152,874 |  | $ | 2,525 |
Adjustments to reconcile net income to net cash flows from operating activities: |  |  |  |  |  |  |
Depreciation and amortization |  | 16,964 |  | 16,965 |  | 16,964 |
Equity in losses (earnings) of unconsolidated affiliates, net |  | (6,157 | ) | 4,389 |  | 12,068 |
Equity in losses (earnings) of consolidated subsidiaries, net |  | (166,731 | ) | (159,871 | ) | 2,251 |
Gains (losses) and impairment on marketable investment securities, net |  | 5,067 |  | (73 | ) | (36,280 | )
Deferred tax provision (benefit) |  | 4,749 |  | (1,105 | ) | 7,473 |
Changes in current assets and current liabilities, net |  | 7,205 |  | 6,389 |  | 11,426 |
Changes in noncurrent assets and noncurrent liabilities, net |  | (566 | ) | 35 |  | — |
Other, net |  | 12,705 |  | 18,319 |  | 24,494 |
Net cash flows from operating activities |  | 26,593 |  | 37,922 |  | 40,921 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |
Purchases of marketable investment securities |  | (327,610 | ) | (1,013,699 | ) | (957,142 | )
Sales and maturities of marketable investment securities |  | 701,832 |  | 1,118,187 |  | 857,139 |
Contributions to subsidiaries and affiliates, net |  | (182,943 | ) | (275,545 | ) | (84,103 | )
Capital contribution to Sling TV Holding |  | — |  | (18,569 | ) | — |
Changes in restricted cash and marketable investment securities |  | 431 |  | (270 | ) | (44 | )
Net cash flows from investing activities |  | 191,710 |  | (189,896 | ) | (184,150 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan |  | 38,729 |  | 28,857 |  | 71,247 |
Other |  | — |  | (3,075 | ) | — |
Net cash flows from financing activities |  | 38,729 |  | 25,782 |  | 71,247 |
Net increase (decrease) in cash and cash equivalents |  | 257,032 |  | (126,192 | ) | (71,982 | )
Cash and cash equivalents, beginning of period |  | 273,646 |  | 399,838 |  | 471,820 |
Cash and cash equivalents, end of period |  | $ | 530,678 |  | $ | 273,646 |  | $ | 399,838 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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