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Segment Information (Tables) | 6 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Revenues and Operating Profits (Losses) | Segment revenues and operating profits (losses) for the three and six months ended September 30, 2024 and 2023 were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, 2024 |  |  | September 30, 2023 |  |  | September 30, 2024 |  |  | September 30, 2023 |
|  | (In thousands) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Communication services |  |  |  |  |  |  |  |  |  |  |  |
Aviation services |  | $ | 261,987 |  |  | $ | 224,049 |  |  | $ | 519,142 |  |  | $ | 375,161 |
Government satcom services |  |  | 179,875 |  |  |  | 169,843 |  |  |  | 363,748 |  |  |  | 252,467 |
Maritime services |  |  | 121,179 |  |  |  | 130,428 |  |  |  | 245,126 |  |  |  | 175,773 |
Fixed services and other services |  |  | 184,853 |  |  |  | 246,442 |  |  |  | 386,489 |  |  |  | 461,134 |
Total services |  |  | 747,894 |  |  |  | 770,762 |  |  |  | 1,514,505 |  |  |  | 1,264,535 |
Total products |  |  | 78,491 |  |  |  | 75,795 |  |  |  | 138,667 |  |  |  | 142,282 |
Total communication services revenues |  |  | 826,385 |  |  |  | 846,557 |  |  |  | 1,653,172 |  |  |  | 1,406,817 |
Defense and advanced technologies |  |  |  |  |  |  |  |  |  |  |  |
Total services |  |  | 50,420 |  |  |  | 52,924 |  |  |  | 104,530 |  |  |  | 102,570 |
Information security and cyber defense products |  |  | 83,548 |  |  |  | 82,378 |  |  |  | 139,055 |  |  |  | 139,054 |
Space and mission systems products |  |  | 78,782 |  |  |  | 92,306 |  |  |  | 152,088 |  |  |  | 164,693 |
Tactical networking products |  |  | 80,034 |  |  |  | 42,445 |  |  |  | 151,444 |  |  |  | 79,829 |
Advanced technologies and other products |  |  | 3,093 |  |  |  | 108,805 |  |  |  | 48,433 |  |  |  | 112,243 |
Total products |  |  | 245,457 |  |  |  | 325,934 |  |  |  | 491,020 |  |  |  | 495,819 |
Total defense and advanced technologies revenues |  |  | 295,877 |  |  |  | 378,858 |  |  |  | 595,550 |  |  |  | 598,389 |
Elimination of intersegment revenues |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total revenues |  | $ | 1,122,262 |  |  | $ | 1,225,415 |  |  | $ | 2,248,722 |  |  | $ | 2,005,206 |
Operating profits (losses): |  |  |  |  |  |  |  |  |  |  |  |
Communication services |  | $ | (467 | ) |  | $ | (831,186 | ) |  | $ | 41,472 |  |  | $ | (841,129 | )
Defense and advanced technologies |  |  | 41,813 |  |  |  | 107,893 |  |  |  | 125,824 |  |  |  | 104,131 |
Elimination of intersegment operating profits (losses) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Segment operating profit (loss) before corporate and amortization of acquired intangible assets |  |  | 41,346 |  |  |  | (723,293 | ) |  |  | 167,296 |  |  |  | (736,998 | )
Corporate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Amortization of acquired intangible assets |  |  | (66,024 | ) |  |  | (81,374 | ) |  |  | (132,239 | ) |  |  | (109,185 | )
Income (loss) from operations |  | $ | (24,678 | ) |  | $ | (804,667 | ) |  | $ | 35,057 |  |  | $ | (846,183 | )
Segment Assets | Segment assets as of September 30, 2024 and March 31, 2024 were as follows:
|  | As of September 30, 2024 |  |  | As of March 31, 2024 |
|  | (In thousands) |
Segment assets: |  |  |  |  |  |
Communication services |  | $ | 4,636,720 |  |  | $ | 4,819,535 |
Defense and advanced technologies |  |  | 440,605 |  |  |  | 341,450 |
Total segment assets |  |  | 5,077,325 |  |  |  | 5,160,985 |
Corporate assets |  |  | 12,677,659 |  |  |  | 11,168,379 |
Total assets |  | $ | 17,754,984 |  |  | $ | 16,329,364 |
Other Acquired Intangible Assets, Net, Goodwill Included in Segment Assets and Depreciation and Amortization of Acquired Intangible Assets by Segment | Other acquired intangible assets, net and goodwill included in segment assets as of September 30, 2024 and March 31, 2024 were as follows:
|  | Other Acquired Intangible Assets, Net |  |  | Goodwill |
|  | As of September 30, 2024 |  |  | As of March 31, 2024 |  |  | As of September 30, 2024 |  |  | As of March 31, 2024 |
|  | (In thousands) |
Communication services |  | $ | 2,410,852 |  |  | $ | 2,544,315 |  |  | $ | 1,583,374 |  |  | $ | 1,581,937 |
Defense and advanced technologies |  |  | — |  |  |  | 152 |  |  |  | 40,386 |  |  |  | 39,826 |
Total |  | $ | 2,410,852 |  |  | $ | 2,544,467 |  |  | $ | 1,623,760 |  |  | $ | 1,621,763 |
Depreciation and amortization of intangible assets allocated to segments for the three and six months ended September 30, 2024 and 2023 was as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, 2024 |  |  | September 30, 2023 |  |  | September 30, 2024 |  |  | September 30, 2023 |
|  | (In thousands) |
Communication services |  | $ | 272,039 |  |  | $ | 238,681 |  |  | $ | 521,172 |  |  | $ | 373,464 |
Defense and advanced technologies |  |  | 16,603 |  |  |  | 13,710 |  |  |  | 32,459 |  |  |  | 25,695 |
Corporate (1) |  |  | 66,024 |  |  |  | 81,374 |  |  |  | 132,239 |  |  |  | 109,185 |
Total depreciation and amortization of intangible assets |  | $ | 354,666 |  |  | $ | 333,765 |  |  | $ | 685,870 |  |  | $ | 508,344 |
(1) Corporate amounts include the amortization of acquired intangible assets as they are not considered part of management’s evaluation of segment performance.
Revenues by Geographic Area | Revenues by geographic area for the three and six months ended September 30, 2024 and 2023 were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, 2024 |  |  | September 30, 2024 |
|  | (In thousands) |
U.S. customers |  | $ | 776,785 |  |  | $ | 1,553,280 |
Non-U.S. customers (each country individually insignificant) |  |  | 345,477 |  |  |  | 695,442 |
Total revenues |  | $ | 1,122,262 |  |  | $ | 2,248,722 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, 2023 |  |  | September 30, 2023 |
|  | (In thousands) |
U.S. customers |  | $ | 877,421 |  |  | $ | 1,470,583 |
Non-U.S. customers (each country individually insignificant) |  |  | 347,994 |  |  |  | 534,623 |
Total revenues |  | $ | 1,225,415 |  |  | $ | 2,005,206 |

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