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Note 17 - Other Income (Expenses)

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Other Income and Other Expense Disclosure [Text Block]

17. Other Income (Expenses):

On August 1, 2020, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”), by and between the Company and DISH Wireless L.L.C.(“EchoStar” DISH's post-merger parent). Under the Purchase Agreement and in accordance with the terms and conditions set forth therein, the Company sold to EchoStar its mobile customer accounts that are marketed and sold under the Ting brand (other than certain customer accounts associated with one network operator) (“Transferred Assets”). For a period of 10 years following the execution of the Purchase Agreement, EchoStar will pay a monthly fee to the Company generally equal to an amount of net revenue received by EchoStar in connection with the transferred customer accounts minus certain fees and expenses, as further set forth in the Purchase Agreement.

The following table summarizes the Income earned on the sale of transferred assets:

		*For the twelve months ended*
		*2024*				*2023*				*2022*
Income earned on sale of transferred assets		$	13,978			$	17,033			$	18,507

The Company recorded interest income amounting to $3.2 million, $4.5 million and $0.1 million for the years ended December 31, 2024, 2023 and 2022 respectively. This income primarily relates to the strategic investment of excess 2023 and 2024 Term Notes proceeds into Money Market Deposit Accounts ("MMDAs") and Certificates of Deposit ("CDs"). Interest expense, net has been included in "Other Income" as follows (Dollar amounts in thousands of US dollars):

		*For the twelve months ended*
		*2024*				*2023*				*2022*
Interest expense		$	(54,433	)		$	(46,256	)		$	(14,588	)
Interest income			3,158				4,485				132
Interest expense, net		$	(51,275	)		$	(41,771	)		$	(14,456	)