Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 114

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 114
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 current and non-current portions of its operating lease liabilities in accrued and other liabilities and non-current operating lease liabilities, respectively, in the consolidated balance sheets.The Company’s finance leases consist primarily of satellite lifetime Ka-band capacity leases and have remaining terms from less than one year to 15 years. The Company reports assets obtained under finance leases in property, equipment and satellites, net and the current and non-current portions of its finance lease liabilities in current portion of long-term debt and other long-term debt, respectively, in the consolidated balance sheets.During the fourth quarter of fiscal year 2023, after the completion of the Link-16 TDL Sale, the Company reduced its real estate footprint as part of cost-reduction measures taken in order to right-size the Company’s remaining businesses. As a result, the Company recorded an impairment of right-of-use assets of $19.1 million and an impairment of leasehold improvements and furniture and fixtures of an insignificant amount, taking into consideration the current and anticipated future market conditions for sublease income in the markets the leases are located, recorded in the consolidated statements of operations in selling, general and administrative expenses in both of the Company's segments.

F-30

VIASAT, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 

The components of the Company's lease costs, weighted average lease terms and discount rates are presented in the tables below: 

         Fiscal Years Ended

         March 31, 2025

         March 31, 2024

         March 31, 2023

         (In thousands)

         Lease cost:

         Operating lease cost
          
         $
         99,067

         $
         105,365

         $
         87,627

         Finance lease cost:

         Depreciation of assets obtained under finance leases

         14,948

         11,824

         11,947

         Interest on lease liabilities

         6,514

         2,018

         2,441

         Short-term lease cost

         21,559

         13,990

         14,410

         Variable lease cost

         27,067

         13,214

         15,261

         Net lease cost
          
         $
         169,155

         $
         146,411

         $
         131,686

         As of

         As of

         As of

         March 31