Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 15

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 million and $29.5 million for the nine months ended September 30, 2025 and 2024, respectively, for payments received related to the Cap.Gains and losses resulting from fair value adjustments to the Cap are recorded within accumulated other comprehensive income within the Company’s condensed consolidated balance sheets and reclassified to interest expense on the dates that interest payments become due. Cash flows related to the derivative contracts are included in cash flows from operating activities on the condensed consolidated statements of cash flows. Over the next 12 months, the Company expects any gains or losses for cash flow hedges amortized from accumulated other comprehensive income into earnings to have an immaterial impact on the Company’s consolidated financial statements.The following table presents the amount of unrealized gain or loss and related tax impact associated with the derivative instruments that the Company recorded in its condensed consolidated statements of operations and comprehensive income:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(In thousands)(In thousands)Unrealized loss, net of tax$(4,575)$(19,401)$(16,791)$(17,518)Tax benefit $1,377 $5,957 $5,061 $5,094 

7. Equity Transactions

Preferred StockThe Company is authorized to issue 2.0 million shares of preferred stock with a par value of $0.0001 per share. The Company previously issued 1.5 million shares of preferred stock, all of which have converted to common stock. The remaining 0.5 million authorized shares of preferred stock remained undesignated and unissued as of September 30, 2025 and December 31, 2024. As of September 30, 2025 and December 31, 2024, there were no outstanding shares of preferred stock, as all previously designated and issued preferred stock was converted into common stock in prior periods.DividendsStockholders are entitled to receive, when and if declared by the Company’s Board of Directors from time to time, dividends and other distributions in cash, stock or property from the Company’s assets or funds legally and contractually available for such purposes. The Company paid dividends of $0.14 per share of common stock for each of the three months ended March 31 and June 30, 2025, and a dividend of $0.15 per share of common stock for the three months ended September 30, 2025, resulting in total payments to stockholders of $