XML 73 R40.htm IDEA: XBRL DOCUMENT
v3.26.1

Contingencies and Guaranty (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Spectrum Sale Agreements | The following table provides information regarding the Company’s spectrum sale agreements entered into after December 2025 (as defined in the table below and collectively referred to as the “Spectrum Sale Agreements”) as of March 31, 2026:
Spectrum Sale Agreements (1) | Agreement Date | Total Consideration (2) | Payments Received | Payments remaining | Broadband license(s) delivered | Broadband license(s) remaining
CPS Energy (“CPS”) | January 2026 | $13.0 million | $6.5 million | $6.5 million | — | 1
Texas-New Mexico Power Company (“TNMP”) | March 2026 | $3.2 million | $— | $3.2 million | — | 2
NorthWestern Energy (“NWE”) | March 2026 | $7.7 million | $— | $7.7 million | — | 65
1.The Spectrum Sale Agreements are subject to customary provisions regarding remedies for non-delivery, including termination rights and refund of amounts paid, if the Company fails to perform its other contractual obligations, including failure to deliver the relevant cleared 900 MHz Broadband Spectrum in accordance with the terms of the Agreements. 2.In accordance with ASC 606, the payments of prepaid fees under the spectrum sale agreements will be accounted for as deferred revenue on the Company’s Consolidated Balance Sheets. Revenue will be recognized for each county once we deliver the cleared 900 MHz Broadband Spectrum and the associated broadband licenses. The following table provides information regarding the Company’s spectrum sale agreements entered into prior to December 2025 (as defined in the table below and collectively referred to as the “Spectrum Sale Agreements”) as of March 31, 2026:
Spectrum Sale Agreements (1) | Agreement Date | Total Consideration | Payments Received | Payments remaining | Broadband license(s) delivered | Broadband license(s) remaining
San Diego Gas & Electric (“SDG&E”) Agreement | February 2021 | $50.0 million | $45.6 million (2) | $3.1 million | 2 | 1
LCRA Agreement | April 2023 | $30.0 million | $29.3 million | $0.7 million | 64 | 4
LCRA Expansion Agreement | January 2025 | $13.5 million | $6.0 million | $6.5 million (3) | — | 34
Oncor Agreement | June 2024 | $102.5 million (4) | $100.6 million (4) | $— | 95 | —
1.The Spectrum Sale Agreements are subject to customary provisions regarding remedies for non-delivery, including termination rights and refund of amounts paid, if the Company fails to perform its other contractual obligations, including failure to deliver the relevant cleared 900 MHz Broadband Spectrum in accordance with the terms of the Agreements. A gain or loss on the sale of spectrum will be recognized for each county once we deliver the cleared 900 MHz Broadband Spectrum and the associated broadband licenses. 2.Net of delivery delay adjustments. 3.Includes a $1.0 million credit, which was applied against the remaining balance pursuant to the LCRA Expansion Agreement in recognition of their contributions to our business efforts. 4.Includes reimbursable clearing costs and Anti-Windfall Payments made in connection with the transfer of the associated broadband licenses. Total consideration included $7.5 million in estimated reimbursable clearing costs and Anti-Windfall Payments of which $5.6 million was realized. The following table summarizes the Company’s short-term and long-term contingent liabilities related to certain spectrum sale agreements based on the estimated timing of license deliveries (in thousands) as of March 31, 2026:
|  | 2026 |  | 2025 |
Spectrum Sale Agreements |  | Current |  | Long Term |  | Current |  | Long Term |
SDG&E |  | $ | 1,000 |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | — |  |
LCRA Agreement |  | 1,220 |  |  | — |  |  | 1,093 |  |  | 15,336 |  |
LCRA Expansion Agreement |  | — |  |  | 6,000 |  |  | — |  |  | — |  |
Oncor |  | — |  |  | — |  |  | 6,000 |  |  | — |  |
Total contingent liabilities (1) |  | $ | 2,220 |  |  | $ | 6,000 |  |  | $ | 8,093 |  |  | $ | 15,336 |  |
1.A reduction in the contingent liability and a gain or loss on the sale of spectrum will be recognized for each county once the Company delivers the 900 MHz Broadband Spectrum and the associated broadband licenses.

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of collaborative arrangement and arrangement other than collaborative applicable to revenue-generating activity or operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 808 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479402/808-10-50-1 + Details
Name: | us-gaap_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration