Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases

Components of Lease Expense

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(In thousands)
Operating lease cost (1)	$	91,447	$	14,004	$	229,359	$	47,585
Short-term lease cost (2)		3,281		2,488		10,220		9,686
Finance lease cost:
Amortization of right-of-use assets (3)		6,048		17,829		21,989		53,488
Interest on lease liabilities (3)		3,926		3,467		9,084		11,635
Total finance lease cost (3)		9,974		21,296		31,073		65,123
Total lease costs	$	104,702	$	37,788	$	270,652	$	122,394

(1) The increase in operating lease cost is primarily related to communication tower leases.

(2) Leases that have terms of 12 months or less.

(3) The decrease in finance lease cost is primarily related to the QuetzSat-1 finance lease, which expired in November 2021, as well as the Anik F3 finance lease that was extended in April 2022 and as a result is currently accounted for as an operating lease.

Summary of Supplemental cash flow information related to leases

	For the Nine Months Ended
	September 30,
	2022		2021
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	106,036	$	52,220
Operating cash flows from finance leases	$	8,721	$	9,932
Financing cash flows from finance leases	$	34,266	$	49,873
Right-of-use assets obtained in exchange for lease obligations:
Operating leases (1)	$	1,184,791	$	799,261
Finance leases	$	51,661	$	—

(1) The increase in operating lease assets primarily related to communication tower leases.

Summary of supplemental balance sheet information related to leases

	As of
	September 30,		December 31,
	2022		2021
	(In thousands)
Operating Leases:
Operating lease assets (1)	$	2,513,219	$	1,493,410
Other current liabilities	$	163,915	$	75,748
Operating lease liabilities (1)		2,500,747		1,453,395
Total operating lease liabilities	$	2,664,662	$	1,529,143
Finance Leases:
Property and equipment, gross	$	397,127	$	568,889
Accumulated depreciation		(297,754)		(499,188)
Property and equipment, net	$	99,373	$	69,701
Other current liabilities	$	41,915	$	34,772
Other long-term liabilities		75,139		64,886
Total finance lease liabilities	$	117,054	$	99,658
Weighted Average Remaining Lease Term:
Operating leases		12.2 years		12.9 years
Finance leases		2.6 years		2.6 years
Weighted Average Discount Rate:
Operating leases		6.9%		5.3%
Finance leases		9.7%		11.0%

(1) The increase in operating lease assets and liabilities primarily related to communication tower leases.

Summary of maturities of finance lease liabilities

	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total
	(In thousands)
2022 (remaining three months)	$	51,993	$	10,017	$	62,010
2023		236,556		54,125		290,681
2024		259,893		45,532		305,425
2025		287,072		15,756		302,828
2026		314,762		7,058		321,820
Thereafter		3,018,557		—		3,018,557
Total lease payments		4,168,833		132,488		4,301,321
Less: Imputed interest		(1,504,171)		(15,434)		(1,519,605)
Total		2,664,662		117,054		2,781,716
Less: Current portion		(163,915)		(41,915)		(205,830)
Long-term portion of lease obligations	$	2,500,747	$	75,139	$	2,575,886