v3.25.4

Segment Information | 9 Months Ended
--- | ---
Dec. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Note 10 — Segment Information The Company reports its results in two separate segments consisting of communication 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. 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 residential and enterprise fixed broadband customers. The Company’s communication services segment revenues are primarily derived from the Company’s aviation services (including IFC services), government satcom services, maritime services (including narrowband and safety of communication capabilities), fixed broadband services, and energy services, as well as a wide array of advanced satellite and wireless products, 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 gateways, 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. The Company’s defense and advanced technologies segment revenues are primarily derived from the Company’s information security and cyber defense, space and mission systems, tactical networking, and advanced technologies and other products and services, which are provided to government and commercial customers. The Company's Chief Operating Decision Maker (CODM) is the Company's Chairman of the Board and Chief Executive Officer. Segment operating profits (losses) are the primary measure used by the Company's CODM to evaluate segment operating performance. The CODM regularly reviews budget-to-actual variances of segment operating profits (losses) when evaluating segment performance and allocating resources to each segment. Segment revenues, expenses and operating profits (losses) for the three and nine months ended December 31, 2025 and 2024 were as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, 2025 |  |  | December 31, 2024 |  |  | December 31, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Communication services |  |  |  |  |  |  |  |  |  |  |  |
Aviation services |  | $ | 303,693 |  |  | $ | 263,880 |  |  | $ | 897,317 |  |  | $ | 783,022 |
Government satcom services |  |  | 202,369 |  |  |  | 195,048 |  |  |  | 589,937 |  |  |  | 558,796 |
Maritime services |  |  | 114,949 |  |  |  | 118,895 |  |  |  | 350,344 |  |  |  | 364,021 |
Fixed services and other services |  |  | 144,565 |  |  |  | 181,162 |  |  |  | 474,993 |  |  |  | 567,651 |
Total services |  |  | 765,576 |  |  |  | 758,985 |  |  |  | 2,312,591 |  |  |  | 2,273,490 |
Total products |  |  | 59,766 |  |  |  | 61,362 |  |  |  | 176,777 |  |  |  | 200,029 |
Total communication services revenues |  |  | 825,342 |  |  |  | 820,347 |  |  |  | 2,489,368 |  |  |  | 2,473,519 |
Defense and advanced technologies |  |  |  |  |  |  |  |  |  |  |  |
Total services |  |  | 57,242 |  |  |  | 50,385 |  |  |  | 158,107 |  |  |  | 154,915 |
Information security and cyber defense products |  |  | 96,954 |  |  |  | 89,497 |  |  |  | 294,030 |  |  |  | 228,552 |
Space and mission systems products |  |  | 77,490 |  |  |  | 77,752 |  |  |  | 243,694 |  |  |  | 229,840 |
Tactical networking products |  |  | 93,900 |  |  |  | 78,528 |  |  |  | 236,372 |  |  |  | 229,972 |
Advanced technologies and other products |  |  | 6,117 |  |  |  | 7,258 |  |  |  | 47,421 |  |  |  | 55,691 |
Total products |  |  | 274,461 |  |  |  | 253,035 |  |  |  | 821,517 |  |  |  | 744,055 |
Total defense and advanced technologies revenues |  |  | 331,703 |  |  |  | 303,420 |  |  |  | 979,624 |  |  |  | 898,970 |
Elimination of intersegment revenues |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total revenues |  | $ | 1,157,045 |  |  | $ | 1,123,767 |  |  | $ | 3,468,992 |  |  | $ | 3,372,489 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Communication services |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | $ | 248,673 |  |  | $ | 244,673 |  |  | $ | 735,641 |  |  | $ | 744,136 |
Stock-based compensation expense |  |  | 14,388 |  |  |  | 12,884 |  |  |  | 35,190 |  |  |  | 38,462 |
Other than acquired intangible assets amortization (1) |  |  | 9,175 |  |  |  | 10,289 |  |  |  | 27,923 |  |  |  | 31,998 |
Acquisition and transaction related expenses |  |  | 4,840 |  |  |  | 14,061 |  |  |  | 16,194 |  |  |  | 45,532 |
Other segment items (2) |  |  | 510,238 |  |  |  | 494,083 |  |  |  | 1,524,131 |  |  |  | 1,527,562 |
Total communication services expenses (3) |  |  | 787,314 |  |  |  | 775,990 |  |  |  | 2,339,079 |  |  |  | 2,387,690 |
Defense and advanced technologies |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 12,484 |  |  |  | 12,401 |  |  |  | 35,887 |  |  |  | 35,539 |
Stock-based compensation expense |  |  | 9,711 |  |  |  | 8,619 |  |  |  | 23,738 |  |  |  | 25,006 |
Other than acquired intangible assets amortization (1) |  |  | 5,190 |  |  |  | 4,545 |  |  |  | 16,733 |  |  |  | 13,866 |
Acquisition and transaction related expenses |  |  | 685 |  |  |  | 6,794 |  |  |  | 4,136 |  |  |  | 12,174 |
Other segment items (2) |  |  | 250,521 |  |  |  | 228,323 |  |  |  | 745,022 |  |  |  | 643,823 |
Total defense and advanced technologies expenses (3) |  |  | 278,591 |  |  |  | 260,682 |  |  |  | 825,516 |  |  |  | 730,408 |
Total expenses |  | $ | 1,065,905 |  |  | $ | 1,036,672 |  |  | $ | 3,164,595 |  |  | $ | 3,118,098 |
Operating profits (losses): |  |  |  |  |  |  |  |  |  |  |  |
Communication services |  | $ | 38,028 |  |  | $ | 44,357 |  |  | $ | 150,289 |  |  | $ | 85,829 |
Defense and advanced technologies |  |  | 53,112 |  |  |  | 42,738 |  |  |  | 154,108 |  |  |  | 168,562 |
Elimination of intersegment operating profits (losses) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Segment operating profit (loss) before corporate |  |  | 91,140 |  |  |  | 87,095 |  |  |  | 304,397 |  |  |  | 254,391 |
Corporate: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of acquired intangible assets |  |  | (64,838 | ) |  |  | (65,847 | ) |  |  | (195,648 | ) |  |  | (198,086 | )
Interest income |  |  | 165,590 |  |  |  | 17,708 |  |  |  | 192,405 |  |  |  | 64,396 |
Interest expense |  |  | (87,478 | ) |  |  | (94,476 | ) |  |  | (281,322 | ) |  |  | (315,592 | )
(Loss) gain on extinguishment of debt, net |  |  | (11,647 | ) |  |  | (96,614 | ) |  |  | (11,935 | ) |  |  | (99,814 | )
Other income (expense), net |  |  | 114 |  |  |  | (9,976 | ) |  |  | (5,050 | ) |  |  | (9,976 | )
Income (loss) before income taxes |  | $ | 92,881 |  |  | $ | (162,110 | ) |  | $ | 2,847 |  |  | $ | (304,681 | )
(1) Including amortization of capitalized cloud computing implementation costs. (2) Other segment items include operating expenses such as cost of service and product revenues, selling, general and administrative expenses, IR&D expenses and related activities excluding allocable portion of depreciation, other than acquired intangibles amortization, stock-based compensation, and certain significant items that are disclosed under each segment. (3) For the three and nine months ended December 31, 2025, IR&D expense and related activities, including allocable depreciation, stock-based compensation and other expenses were $26.7 million and $67.5 million, respectively, for the communication services segment, and $20.2 million and $55.9 million, respectively, for the defense and advanced technologies segment. For the three and nine months ended December 31, 2024, IR&D expense and related activities, including allocable depreciation, stock-based compensation and other expense s were $21.5 million and $66.9 million, respectively, for the communication services segment, and $15.2 million and $41.7 million, respectively, for the defen se and advanced technologies segment. The CODM is not regularly provided assets on a segment basis, therefore, such information is not presented. Revenues by geographic area for the three and nine months ended December 31, 2025 and 2024 were as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, 2025 |  |  | December 31, 2024 |  |  | December 31, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
U.S. customers |  | $ | 777,695 |  |  | $ | 774,383 |  |  | $ | 2,372,690 |  |  | $ | 2,327,663 |
Non-U.S. customers (each country individually insignificant) |  |  | 379,350 |  |  |  | 349,384 |  |  |  | 1,096,302 |  |  |  | 1,044,826 |
Total revenues |  | $ | 1,157,045 |  |  | $ | 1,123,767 |  |  | $ | 3,468,992 |  |  | $ | 3,372,489 |
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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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