v3.25.3

Property and Equipment and Intangible Assets | 9 Months Ended
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Sep. 30, 2025
Property and Equipment and Intangible Assets |
Property and Equipment and Intangible Assets | ​
7. | Property and Equipment and Intangible Assets
​ Property and Equipment ​ Property and equipment consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Depreciable | ​ | As of
​ | ​ | Life | ​ | September 30, | ​ | December 31,
​ |  | (In Years) |  | 2025 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | (In thousands)
Equipment leased to customers | ​ | 2 | - | 5 | ​ | $ | 1,699,486 | ​ | $ | 1,784,801
Satellites (1) | ​ | 5 | - | 15 | ​ | ​ | 3,435,260 | ​ | ​ | 3,872,664
Satellites acquired under finance lease agreements | ​ | ​ | 15 | ​ | ​ | ​ | 358,754 | ​ | ​ | 344,972
Furniture, fixtures, equipment and other | ​ | 1 | - | 20 | ​ | ​ | 1,602,421 | ​ | ​ | 1,686,992
5G Network equipment/Hybrid MNO (1)(2) | ​ | 3 | - | 15 | ​ | ​ | 89,633 | ​ | ​ | 5,382,706
Software and computer equipment (1) | ​ | 1 | - | 8 | ​ | ​ | 1,625,774 | ​ | ​ | 2,216,007
Buildings and improvements | ​ | 1 | - | 40 | ​ | ​ | 515,635 | ​ | ​ | 513,419
Land | ​ | ​ | - | ​ | ​ | ​ | 42,985 | ​ | ​ | 42,842
Construction in progress (1) | ​ | ​ | - | ​ | ​ | ​ | 484,256 | ​ | ​ | 1,570,275
Total property and equipment | ​ | ​ | ​ | ​ | ​ | ​ | 9,854,204 | ​ | ​ | 17,414,678
Accumulated depreciation | ​ | ​ | ​ | ​ | ​ | ​ | (6,769,411) | ​ | ​ | (8,227,546)
Property and equipment, net (3) | ​ | ​ | ​ | ​ | ​ | $ | 3,084,793 | ​ | $ | 9,187,132
(1) | This change primarily resulted from the non-cash impairment of long-lived assets. See Note 1 for further information.
(2) | Historically, includes 5G Network assets acquired under finance lease agreements.
(3) | As of September 30, 2025 and December 31, 2024, there were no refunds and other receipts of purchases of property and equipment.
​ ​ Depreciation and amortization expense consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (In thousands)
Equipment leased to customers | ​ | $ | 56,221 | ​ | $ | 83,778 | ​ | $ | 177,243 | ​ | $ | 214,723
Satellites | ​ | ​ | 55,829 | ​ | ​ | 74,464 | ​ | ​ | 186,092 | ​ | ​ | 225,365
Buildings, furniture, fixtures, equipment and other | ​ | ​ | 24,106 | ​ | ​ | 20,685 | ​ | ​ | 85,377 | ​ | ​ | 96,105
5G Network equipment/Hybrid MNO | ​ | ​ | 159,115 | ​ | ​ | 187,281 | ​ | ​ | 584,029 | ​ | ​ | 533,575
Software and computer equipment | ​ | ​ | 82,517 | ​ | ​ | 94,193 | ​ | ​ | 298,677 | ​ | ​ | 278,746
Intangible assets and other amortization expense | ​ | ​ | 13,503 | ​ | ​ | 17,033 | ​ | ​ | 41,261 | ​ | ​ | 121,845
Total depreciation and amortization | ​ | $ | 391,291 | ​ | $ | 477,434 | ​ | $ | 1,372,679 | ​ | $ | 1,470,359
​ Cost of sales and operating expense categories included in our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) do not include depreciation and amortization expense related to satellites, equipment leased to customers, or our 5G Network equipment and software, and amortization of development costs of externally marketed software. ​ Activity relating to our asset retirement obligations, included in “Long-term deferred revenue and other long-term liabilities” on our Condensed Consolidated Balance Sheets, was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ | ​ | 2025 |  | 2024 | ​ | 2025 | ​ | 2024
​ | ​ | (In thousands)
Balance, beginning of period | ​ | $ | 347,720 | ​ | $ | 300,475 | ​ | $ | 327,031 | ​ | $ | 278,287
Liabilities incurred | ​ | ​ | 337 | ​ | ​ | 5,051 | ​ | ​ | 5,222 | ​ | ​ | 14,010
Accretion expense | ​ | ​ | 9,115 | ​ | ​ | 7,114 | ​ | ​ | 24,919 | ​ | ​ | 20,343
Remeasurement of estimate | ​ | ​ | 80,459 | ​ | ​ | — | ​ | ​ | 80,459 | ​ | ​ | —
Balance, end of period | ​ | $ | 437,631 | ​ | $ | 312,640 | ​ | $ | 437,631 | ​ | $ | 312,640
​ During the third quarter of 2025, our asset retirement obligations were revised as the timing associated with the obligations to remediate leased property on our communication towers was accelerated. ​ The corresponding assets, net of accumulated depreciation, related to asset retirement obligations were impaired as of September 30, 2025, resulting in a net book value of zero and $216 million as of September 30, 2025 and December 31, 2024, respectively. See Note 1 for further information. ​ ​ ​ ​ ​ Satellites Pay-TV Segment ​ Our Pay-TV segment currently utilizes eight satellites in geosynchronous orbit approximately 22,300 miles above the equator, seven of which we own and depreciate over their estimated useful life. We also lease one satellite from a third party, Nimiq 5, which is accounted for as an operating lease. ​ As of September 30, 2025, our Pay-TV segment satellite fleet consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Degree | ​ | Lease
​ | ​ | Launch | ​ | Orbital | ​ | Termination
Satellites |  | Date |  | Location |  | Date
Owned: | ​ | ​ | ​ | ​ | ​ | ​
EchoStar X | ​ | February 2006 | ​ | 110 | ​ | N/A
EchoStar XI | ​ | July 2008 | ​ | 110 | ​ | N/A
EchoStar XIV | ​ | March 2010 | ​ | 119 | ​ | N/A
EchoStar XV | ​ | July 2010 | ​ | 119 | ​ | N/A
EchoStar XVI | ​ | November 2012 | ​ | 61.5 | ​ | N/A
EchoStar XVIII | ​ | June 2016 | ​ | 61.5 | ​ | N/A
EchoStar XXIII | ​ | March 2017 | ​ | 110 | ​ | N/A
​ | ​ | ​ | ​ | ​ | ​ | ​
Under Construction: | ​ | ​ | ​ | ​ | ​ | ​
EchoStar XXV | ​ | 2026 | ​ | 110 | ​ | N/A
EchoStar XXVI | ​ | 2028 | ​ | 119 | ​ | N/A
​ | ​ | ​ | ​ | ​ | ​ | ​
Leased from Other Third-Party: | ​ | ​ | ​ | ​ | ​ | ​
Nimiq 5 | ​ | September 2009 | ​ | 72.7 | ​ | October 2029
​ As of April 2025, we no longer lease the Anik F3 satellite. ​ Satellites Under Construction ​ EchoStar XXV. On March 20, 2023, we entered into a contract with Lanteris Space LLC for the construction of EchoStar XXV, a DBS satellite that is capable of providing service to the continental United States (“CONUS”) and is intended to be used at the 110 degree orbital location. During the fourth quarter of 2023, we entered into an agreement with SpaceX for launch services for this satellite, which is expected to be launched during 2026. ​ EchoStar XXVI. On May 15, 2025, we entered into a contract with Lanteris Space LLC for the construction of EchoStar XXVI, a DBS satellite that is capable of providing service to the CONUS and is intended to be used at the 119 degree orbital location. During the third quarter of 2025, we entered into an agreement with SpaceX for launch services for this satellite, which is expected to be launched during 2028. ​ ​ ​ Satellites - Broadband and Satellite Services Segment ​ Our Broadband and Satellite Services segment currently utilizes seven satellites in geosynchronous orbit approximately 22,300 miles above the equator, four of which we own and depreciate over their estimated useful life. We also lease three satellites from third parties, which are accounted for as finance leases and are depreciated over their economic life. ​ As of September 30, 2025, our Broadband and Satellite Services segment satellite fleet consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Degree | ​ | Lease
​ | ​ | Launch | ​ | Orbital | ​ | Termination
Satellites |  | Date |  | Location |  | Date
Owned: | ​ | ​ | ​ | ​ | ​ | ​
EchoStar XVII | ​ | July 2012 | ​ | 107 | ​ | N/A
EchoStar XIX | ​ | December 2016 | ​ | 97.1 | ​ | N/A
EchoStar XXI (1) | ​ | June 2017 | ​ | 10.25 | ​ | N/A
EchoStar XXIV | ​ | July 2023 | ​ | 95.2 | ​ | N/A
​ | ​ | ​ | ​ | ​ | ​ | ​
Leased from Other Third-Party: | ​ | ​ | ​ | ​ | ​ | ​
Eutelsat 65 West A | ​ | March 2016 | ​ | 65 | ​ | July 2031
Telesat T19V | ​ | July 2018 | ​ | 63 | ​ | August 2033
EchoStar 105/SES-11 | ​ | October 2017 | ​ | 105 | ​ | November 2030
​
| (1) | As of September 30, 2025, we impaired the EchoStar XXI satellite and wrote down the carrying value of the satellite to the estimated fair value of zero. See Note 1 for further information.
​ As of June 2025, all commercial traffic on the Al Yah 3 satellite had been transferred to other satellites in our fleet and the Al Yah 3 satellite is no longer operational and is no longer in service. ​ In addition, all commercial traffic on the EchoStar IX satellite has been transferred to other satellites in our fleet and the EchoStar IX satellite is no longer in service. During the second quarter of 2025, we began the disposal process for the EchoStar IX satellite and the disposal process was completed in the third quarter of 2025.

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