Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 94

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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 Note 1 — Basis of Presentation – Property, equipment and satellites, related to satellite impairment, to our condensed consolidated financial statements for more information.

Contractual Obligations 

The following table sets forth a summary of certain material cash requirements for known contractual obligations and commitments at December 31, 2024: 

    (In thousands, including interest where applicable)
     
    Next 12 months

    Thereafter

    Operating leases
     
    $
    93,556

    $
    584,703

    Senior notes and other long-term debt (1)

    1,096,530

    8,868,027

    Purchase commitments including satellite-related agreements

    1,090,360

    970,300

    Total
     
    $
    2,280,446

    $
    10,423,030

(1)To the extent that the interest rate on any long-term debt is variable, amounts reflected represent estimated interest payments on the applicable current outstanding balance based on the interest rate at December 31, 2024 until the applicable maturity date, net of interest rate cap contracts (maturing at the end of February 2025) set up to hedge the variable interest rates under the Inmarsat Term Loan Facilities. The interest rate cap contracts provide protection from Compound SOFR rates over 2% and covered the total nominal amount of the Inmarsat Term Loan Facilities of $1.6 billion.

We purchase components from a variety of suppliers and use several subcontractors and contract manufacturers to provide design and manufacturing services for our products. During the normal course of business, we enter into agreements with subcontractors, contract manufacturers and suppliers that either allow them to procure inventory based upon criteria defined by us or that establish the parameters defining our requirements. We also enter into agreements and purchase commitments with suppliers for the construction, launch, and operation of our satellites. In certain instances, these agreements allow us the option to cancel, reschedule and adjust our requirements based on our business needs prior to firm orders being placed. Consequently, only a portion of our reported purchase commitments arising from these agreements are firm, non-cancelable and unconditional commitments. We may also cancel, reschedule or adjust our requirements based on business needs after firm orders are placed at a cost, which may be material.

Our condensed consolidated balance sheets included $2.2 billion and $2.5 billion of “other liabilities” as of December 31, 2024 and March 31,