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Segment Information | 6 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | Note 11 — Segment Information The Company reports its results in two separate segments consisting of communications services and defense and advanced technologies. The Company's segments are determined consistent with the way management currently organizes and evaluates financial information internally for making operating decisions and assessing performance. Due to the resegmentation that was implemented commencing with the first quarter of fiscal year 2025, prior period segment amounts have been recast to conform to the current segment presentation. The Company’s reportable segments (communication services and defense and advanced technologies) have been determined based upon their market and economic characteristics while also giving consideration to the structure and management of various business lines. The reportable segments are primarily determined based upon industry categories and core competencies relating to product or service end market distribution, operations, and servicing and distinguished by the type of customer and, to a lesser extent, the related contractual requirements. The Company’s communication services segment provides a wide range of broadband and narrowband communications solutions across government and commercial mobility markets, as well as for fixed and residential broadband customers. In addition, this segment includes the development and sale of a wide array of advanced satellite and wireless products, and networks and terminal solutions that support or enable the provision of fixed and mobile broadband and narrowband services. The Company’s defense and advanced technologies segment develops and offers a diverse array of resilient, vertically integrated solutions to government and commercial customers, leveraging the Company’s technical competencies in encryption, cyber security, tactical gateway, modems and waveforms. The more regulated government environment for defense, encryption and other products is subject to unique contractual requirements and possesses economic characteristics that differ from the communication services segment. 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 | )
Assets identifiable to segments include accounts receivable, unbilled accounts receivable, inventory, acquired intangible assets and goodwill, which identification is consistent with the information provided to the Company's chief operating decision maker for purposes of evaluating segment performance or allocating resources. 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 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 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 |
The Company distinguishes revenues from external customers by geographic area based on customer location.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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