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Property and Equipment | 9 Months Ended
--- | ---
Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | 5. PROPERTY AND EQUIPMENT Property and equipment consists of the following (in thousands):
| As of:
| September 30, 2023 |  | December 31, 2022
Globalstar System: |  |  |
Space component | $ | 1,230,433 |  |  | $ | 1,246,343 |
Ground component | 98,966 |  |  | 102,567 |
Construction in progress: |  |  |
Space component | 213,414 |  |  | 110,068 |
Ground component | 12,718 |  |  | 5,316 |
Other | 11,233 |  |  | 9,167 |
Total Globalstar System | 1,566,764 |  |  | 1,473,461 |
Internally developed and purchased software | 23,324 |  |  | 22,509 |
Equipment | 10,630 |  |  | 8,042 |
Land and buildings | 2,601 |  |  | 1,681 |
Leasehold improvements | 2,083 |  |  | 2,083 |
Total property and equipment | 1,605,402 |  |  | 1,507,776 |
Accumulated depreciation | (992,491) |  |  | (947,405) |
Total property and equipment, net | $ | 612,911 |  |  | $ | 560,371 |
In 2022, the Company entered into an agreement with MDA for the purchase of new satellites that will replenish the Company's HIBLEO-4 U.S.-licensed system. This agreement had an initial contract price of $327 million, of which $182.5 million had been incurred as of September 30, 2023. The "space component" of construction in progress in the table above includes costs incurred under the MDA contract as well as associated personnel costs and capitalized interest. Accrued satellite construction costs on the Company's condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022 included $65.7 million and $36.1 million, respectively, of work completed, but not yet invoiced, under the satellite procurement agreement. As of September 30, 2023 and December 31, 2022, the Company also recorded $7.4 million and $11.5 million, respectively, as prepaid satellite construction costs for the first milestone payment made upon signing of the contract; these costs are recorded in Prepaid satellite costs and customer receivable on the Company's condensed consolidated balance sheets.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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