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v3.26.1

Debt, Finance Lease and Other Obligations (Tables) | 6 Months Ended
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Jun. 30, 2026
Debt, Finance Lease and Other Obligations |
Schedule of carrying amount and fair value of our debt facilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | As of
​ | ​ | ​ | June 30, 2026 | ​ | December 31, 2025
​ | Issuer/Borrower | ​ ​ ​ | Carrying Amount | ​ ​ ​ | Fair Value | ​ ​ ​ | Carrying Amount | ​ ​ ​ | Fair Value
​ | ​ | ​ | (In thousands)
7 3/4% Senior Notes due 2026 (1)(3) | DDBS | ​ | $ | — | ​ | $ | — | ​ | $ | 2,000,000 | ​ | $ | 1,977,500
5 1/4% Senior Secured Notes due 2026 | HSSC | ​ | ​ | 627,283 | ​ | ​ | 536,766 | ​ | ​ | 627,283 | ​ | ​ | 604,776
6 5/8% Senior Notes due 2026 | HSSC | ​ | ​ | 750,000 | ​ | ​ | 435,000 | ​ | ​ | 750,000 | ​ | ​ | 691,313
3 3/8% Convertible Notes due 2026 | DISH | ​ | ​ | 45,209 | ​ | ​ | 44,303 | ​ | ​ | 45,209 | ​ | ​ | 44,564
5 1/4% Senior Secured Notes due 2026 (1) | DDBS | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,750,000 | ​ | ​ | 2,673,440
11 3/4% Senior Secured Notes due 2027 (2) | DISH | ​ | ​ | 3,500,000 | ​ | ​ | 3,596,495 | ​ | ​ | 3,500,000 | ​ | ​ | 3,646,440
7 3/8% Senior Notes due 2028 (1) | DDBS | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,000,000 | ​ | ​ | 970,280
5 3/4% Senior Secured Notes due 2028 (1) | DDBS | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,500,000 | ​ | ​ | 2,450,000
DISH 2021 Intercompany Loan 2028 Tranche (3) | DISH | ​ | ​ | 2,844,401 | ​ | ​ | 2,844,401 | ​ | ​ | — | ​ | ​ | —
5 1/8% Senior Notes due 2029 (1) | DDBS | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,500,000 | ​ | ​ | 1,331,430
Term Loan due 2029 (4) | DBS SubscriberCo | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,608,374 | ​ | ​ | 1,608,374
Mandatorily Redeemable Preferred Shares due 2029 (4) | DBS SubscriberCo | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 178,708 | ​ | ​ | 178,708
10 3/4% Senior Secured Notes due 2029 | ECHO | ​ | ​ | 5,506,000 | ​ | ​ | 5,953,363 | ​ | ​ | 5,506,000 | ​ | ​ | 6,144,476
3 7/8% Convertible Secured Notes due 2030 (5) | ECHO | ​ | ​ | 1,942,594 | ​ | ​ | 6,045,255 | ​ | ​ | 1,942,594 | ​ | ​ | 6,581,334
6 3/4% Senior Secured Notes due 2030 | ECHO | ​ | ​ | 2,372,670 | ​ | ​ | 2,412,365 | ​ | ​ | 2,372,670 | ​ | ​ | 2,436,447
Other notes payable | ​ | ​ | ​ | 41,987 | ​ | ​ | 41,987 | ​ | ​ | 71,719 | ​ | ​ | 71,719
Subtotal | ​ | ​ | ​ | 17,630,144 | ​ | $ | 21,909,935 | ​ | ​ | 26,352,557 | ​ | $ | 31,410,801
Unamortized deferred financing costs and other debt discounts, net | ​ | ​ | ​ | (323,082) | ​ | ​ | ​ | ​ | ​ | (416,734) | ​ | ​ | ​
Finance lease obligations (6) | ​ | ​ | ​ | 124,641 | ​ | ​ | ​ | ​ | ​ | 44,048 | ​ | ​ | ​
Total | ​ | ​ | ​ | 17,431,703 | ​ | ​ | ​ | ​ | ​ | 25,979,871 | ​ | ​ | ​
Less: current portion | ​ | ​ | ​ | (1,446,316) | ​ | ​ | ​ | ​ | ​ | (7,321,269) | ​ | ​ | ​
Total debt, finance lease and other obligations, net of current portion | ​ | ​ | $ | 15,985,387 | ​ | ​ | ​ | ​ | $ | 18,658,602 | ​ | ​ | ​
(1) | Effective June 30, 2026, as a result of filing the Prepackaged Chapter 11 Cases, all long-term debt issued by DISH DBS has been deconsolidated from our Condensed Consolidated Balance Sheets. See Note 3 for further information.
(2) | On July 28, 2026, concurrently with the AT&T Closing, the aggregate principal balance of $3.5 billion for the DISH Network 11 3/4% Senior Secured Notes due November 15, 2027 were redeemed in full.
(3) | Effective June 30, 2026, as a result of filing the Prepackaged Chapter 11 Cases, the DISH 2021 Intercompany Loan 2028 Tranche was classified as third-party debt. On July 28, 2026, concurrently with the AT&T Closing, approximately $2.844 billion outstanding under the DISH 2021 Intercompany Loan 2028 Tranche due to DISH DBS was satisfied in full by DISH Network. The DISH DBS Deconsolidated Subsidiaries used these proceeds to fully repay the aggregate principal balance of $2.0 billion for the DISH DBS 7 3/4% Senior Notes due on July 1, 2026.
(4) | During the six months ended June 30, 2026, we repaid approximately $202 million of our Term Loan due 2029 and Mandatorily Redeemable Preferred Shares due 2029. On March 16, 2026, we prepaid without penalty, the remaining balance of our Term Loan due 2029 and Mandatorily Redeemable Preferred Shares due 2029 totaling approximately $1.6 billion.
​ ​
(5) | Beginning on October 1, 2025, and ending at the close of business on June 30, 2026, o ur 3 7/8% Convertible Secured Notes due 2030 are convertible, at the option of the holders. These notes are convertible, at our election, into cash, a total of approximately 58 million shares of our Class A common stock, or a combination thereof. These notes may continue to be convertible in future periods and determination of convertibility is calculated quarterly based on, among other things, the trading price of our Class A common stock. See below for the description of our 3 7/8% Convertible Secured Notes due 2030 and further information on the quarterly calculation to determine convertibility.
(6) | Disclosure regarding fair value of finance leases is not required.
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