Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments (Tables)

12 Months Ended

Dec. 31, 2024

Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

Schedule of marketable investment securities, restricted cash and cash equivalents, and other investments

	As of December 31,
	2024		2023
	(In thousands)
Marketable investment securities:
Current marketable investment securities:
Strategic - available-for-sale	$	51	$	144
Strategic - trading/equity		10		7,799
Other		225		179
Total current marketable investment securities		286		8,122
Restricted marketable investment securities (1)		23,882		19,772
Total marketable investment securities		24,168		27,894
Restricted cash and cash equivalents (1)		254,714		89,107
Other investments, net:
Equity method investments (2)		20,440		126,179
Cost method investments		2,950		3,448
Fair value method investments (3)		12,093		39,198
Total other investments, net		35,483		168,825
Total marketable investment securities, restricted cash and cash equivalents, and other investments, net	$	314,365	$	285,826

(1) Restricted marketable investment securities and restricted cash and cash equivalents are included in “Current restricted cash and cash equivalents” and “Restricted cash, cash equivalents and marketable investment securities” on our Consolidated Balance Sheets and discussed below.

(2) This change primarily resulted from the Sale and Transfer of Assets to EchoStar, see Note 1 for further information, and the decrease in our Invidi Technologies Corporation investment, discussed below.

(3) The decrease primarily resulted from a $27 million impairment in a fair value method investment during the year ended December 31, 2024 and recorded in “Other, net” on our Consolidated Statements of Operations and Comprehensive Income (Loss).

Schedule of fair value measurements

	As of December 31,
	2024								2023
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents (including restricted)	$	261,990	$	221,083	$	40,907	$	—	$	347,976	$	304,410	$	43,566	$	—
Debt securities (including restricted):
U.S. Treasury and agency securities	$	8,163	$	8,163	$	—	$	—	$	7,567	$	7,567	$	—	$	—
Commercial paper		—		—		—		—		7,500		—		7,500		—
Corporate securities		15,719		—		15,719		—		4,705		—		4,705		—
Other		276		—		225		51		323		—		179		144
Equity securities		10		10		—		—		7,799		7,799		—		—
Total	$	24,168	$	8,173	$	15,944	$	51	$	27,894	$	15,366	$	12,384	$	144

Schedule of gains and losses on sales and changes in carrying amounts of investments and other

	For the Years Ended December 31,
Other, net:	2024		2023		2022
	(In thousands)
Marketable and non-marketable investment securities - realized and unrealized gains (losses)	$	(30,730)	$	4,085	$	26,186
Sale of Assets to EchoStar - realized gains (losses) (Note 1)		128,788		—		—
Derivative instruments - net realized and/or unrealized gains (losses)		—		(1,793,387)		1,015,387
Gains (losses) related to early redemption of debt		—		73,024		(922)
Equity in earnings (losses) of affiliates		(67,214)		(3,835)		2,616
Liberty Puerto Rico Asset Sale (Note 13)		21,310		—		—
EchoStar Exchange Offers debt extinguishment gains (losses) (Note 9)		688,661		—		—
Other		1,890		(21,763)		(4,285)
Total	$	742,705	$	(1,741,876)	$	1,038,982