| Segment Revenues, Expenses and Operating Profits (Losses) |
Segment revenues, expenses and operating profits (losses) for the three and nine months ended December 31, 2025 and 2024 were as follows:
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Three Months Ended |
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Nine Months Ended |
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December 31,
2025 |
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December 31,
2024 |
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December 31,
2025 |
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December 31,
2024 |
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(In thousands) |
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Revenues: |
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Communication services |
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Aviation services |
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$ |
303,693 |
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$ |
263,880 |
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$ |
897,317 |
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$ |
783,022 |
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Government satcom services |
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202,369 |
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195,048 |
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589,937 |
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558,796 |
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Maritime services |
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114,949 |
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118,895 |
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350,344 |
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364,021 |
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Fixed services and other services |
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144,565 |
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181,162 |
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474,993 |
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567,651 |
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Total services |
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765,576 |
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758,985 |
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2,312,591 |
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2,273,490 |
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Total products |
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59,766 |
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61,362 |
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176,777 |
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200,029 |
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Total communication services revenues |
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825,342 |
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820,347 |
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2,489,368 |
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2,473,519 |
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Defense and advanced technologies |
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Total services |
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57,242 |
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50,385 |
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158,107 |
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154,915 |
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Information security and cyber defense products |
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96,954 |
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89,497 |
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294,030 |
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228,552 |
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Space and mission systems products |
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77,490 |
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77,752 |
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243,694 |
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229,840 |
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Tactical networking products |
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93,900 |
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78,528 |
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236,372 |
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229,972 |
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Advanced technologies and other products |
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6,117 |
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7,258 |
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47,421 |
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55,691 |
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Total products |
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274,461 |
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253,035 |
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821,517 |
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744,055 |
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Total defense and advanced technologies revenues |
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331,703 |
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303,420 |
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979,624 |
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898,970 |
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Elimination of intersegment revenues |
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— |
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— |
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— |
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— |
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Total revenues |
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$ |
1,157,045 |
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$ |
1,123,767 |
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$ |
3,468,992 |
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$ |
3,372,489 |
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Expenses: |
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Communication services |
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Depreciation |
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$ |
248,673 |
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$ |
244,673 |
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$ |
735,641 |
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$ |
744,136 |
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Stock-based compensation expense |
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14,388 |
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12,884 |
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35,190 |
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38,462 |
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Other than acquired intangible assets amortization (1) |
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9,175 |
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10,289 |
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27,923 |
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31,998 |
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Acquisition and transaction related expenses |
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4,840 |
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14,061 |
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16,194 |
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45,532 |
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Other segment items (2) |
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510,238 |
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494,083 |
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1,524,131 |
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1,527,562 |
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Total communication services expenses (3) |
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787,314 |
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775,990 |
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2,339,079 |
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2,387,690 |
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Defense and advanced technologies |
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Depreciation |
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12,484 |
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12,401 |
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35,887 |
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35,539 |
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Stock-based compensation expense |
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9,711 |
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8,619 |
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23,738 |
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25,006 |
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Other than acquired intangible assets amortization (1) |
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5,190 |
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4,545 |
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16,733 |
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13,866 |
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Acquisition and transaction related expenses |
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|
685 |
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6,794 |
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4,136 |
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12,174 |
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Other segment items (2) |
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250,521 |
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228,323 |
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745,022 |
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643,823 |
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Total defense and advanced technologies expenses (3) |
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278,591 |
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260,682 |
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825,516 |
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730,408 |
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Total expenses |
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$ |
1,065,905 |
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$ |
1,036,672 |
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$ |
3,164,595 |
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$ |
3,118,098 |
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Operating profits (losses): |
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Communication services |
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$ |
38,028 |
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$ |
44,357 |
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$ |
150,289 |
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$ |
85,829 |
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Defense and advanced technologies |
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53,112 |
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42,738 |
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154,108 |
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168,562 |
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Elimination of intersegment operating profits (losses) |
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— |
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— |
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— |
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— |
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Segment operating profit (loss) before corporate |
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91,140 |
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87,095 |
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304,397 |
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254,391 |
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Corporate: |
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Amortization of acquired intangible assets |
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(64,838 |
) |
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(65,847 |
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(195,648 |
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(198,086 |
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Interest income |
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165,590 |
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17,708 |
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192,405 |
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64,396 |
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Interest expense |
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(87,478 |
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(94,476 |
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(281,322 |
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(315,592 |
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(Loss) gain on extinguishment of debt, net |
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(11,647 |
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(96,614 |
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(11,935 |
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(99,814 |
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Other income (expense), net |
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114 |
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(9,976 |
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(5,050 |
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(9,976 |
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Income (loss) before income taxes |
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$ |
92,881 |
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$ |
(162,110 |
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$ |
2,847 |
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$ |
(304,681 |
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(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 expenses 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 defense and advanced technologies segment. |