Company: IRDM
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005302
Chunk: 117

Company: Iridium Communications Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 117
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49,613)Cumulative translation adjustments— — — (58)— (58)Unrealized loss on cash flow hedges, net of tax— — — (17,598)— (17,598)Balance at December 31, 2023122,776 123 1,089,466 33,907 (235,397)888,099 Stock-based compensation— — 68,327 — — 68,327 Stock options exercised and awards vested1,761 1 3,440 — — 3,441 Stock withheld to cover employee taxes(194)— (6,702)— — (6,702)Repurchases and retirements of common stock(13,986)(14)(124,240)— (283,471)(407,725)Net income— — — — 112,776 112,776 Dividends declared— — (65,943)— — (65,943)Cumulative translation adjustments— — — (3,143)— (3,143)Unrealized loss on cash flow hedges, net of tax— — — (12,493)— (12,493)Balance at December 31, 2024110,357 $110 $964,348 $18,271 $(406,092)$576,637 

See notes to consolidated financial statements

60

Iridium Communications Inc.

Consolidated Statements of Cash Flows

(In thousands)

 Year Ended December 31, 202420232022Cash flows from operating activities:Net income$112,776 $15,415 $8,722 Adjustments to reconcile net income to net cash provided by operating activities:Deferred income taxes6,560 (31,828)(1,189)Depreciation and amortization203,127 320,000 303,484 Loss on extinguishment of debt — — 1,187 Stock-based compensation (net of amounts capitalized)63,457 57,455 43,732 Amortization of deferred financing fees2,523 3,739 4,602 (Gain) loss on equity method investments(15,251)6,089 1,496 All other items, net715 732 638 Changes in operating assets and liabilities:Accounts receivable