v3.3.1.900
SCHEDULE I - Parent Company Information
12 Months Ended
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