Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 44

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 44
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, such as the divestiture of our energy services system integration business in December 2024.We may, from time to time, seek to retire, prepay or repurchase our outstanding debt through cash purchases and/or exchanges for equity or debt, in open-market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will be upon such terms and at such prices as we may determine, and will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. During fiscal year 2025, we repurchased $257.5 million in aggregate principal amount of Viasat’s 5.625% Senior Notes due 2025 (the 2025 Notes)) in open market transactions and redeemed the Inmarsat 2026 Notes in full. As a result, in fiscal year 2025, we recorded a net loss on extinguishment of debt of approximately $99.8 million in (loss) gain on extinguishment of debt, net, mainly related to the redemption of the Inmarsat 2026 Notes (attributable to the related unamortized fair value adjustment made in purchase accounting). Subsequent to fiscal year end, we redeemed all remaining 2025 Notes in full. Although we can give no assurances concerning our future liquidity, we believe that we have adequate sources of funding to meet our anticipated operating requirements for the next 12 months, which include, but are not limited to, cash on hand, borrowing capacity, and cash expected to be provided by operating activities.

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Cash flows Cash provided by operating activities for fiscal year 2025 was $908.2 million compared to $688.2 million for fiscal year 2024. This $220.0 million increase was driven by a $211.7 million year-over-year decrease in cash used to fund net operating assets and our operating results (net income (loss) adjusted for depreciation, amortization and other non-cash charges) which resulted in $8.3 million of higher cash provided by operating activities year-over-year. The decrease in cash used to fund net operating assets during fiscal year 2025 when compared to the prior year period was primarily due to timing of payments related to our income tax payables, accrued liabilities and accounts payable. Cash paid for income taxes, net, during fiscal years 2025 and 2024 was $196.3 million and $200.6 million, respectively. Cash paid for interest (net of amounts capitalized) during fiscal