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

3 Months Ended

Mar. 31, 2025

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
	March 31,		December 31,
	2025		2024
	(In thousands)
Marketable investment securities:
Current marketable investment securities:
Strategic - available-for-sale	$	51	$	51
Strategic - trading/equity		10		10
Other		—		225
Total current marketable investment securities		61		286
Restricted marketable investment securities (1)		53,562		23,882
Total marketable investment securities		53,623		24,168
Restricted cash and cash equivalents (1)		248,604		254,714
Other investments, net:
Equity method investments		19,919		20,440
Other investments		15,043		15,043
Total other investments, net		34,962		35,483
Total marketable investment securities, restricted cash and cash equivalents, and other investments, net	$	337,189	$	314,365

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

Schedule of fair value measurements

	As of
	March 31, 2025								December 31, 2024
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Cash and cash equivalents (including restricted):
Cash	$	405,351	$	—	$	—	$	405,351	$	468,799	$	—	$	—	$	468,799
Cash equivalents		154,447		480,541				634,988		221,083		40,907		—		261,990
Total	$	559,798	$	480,541	$	—	$	1,040,339	$	689,882	$	40,907	$	—	$	730,789
Debt securities (including restricted):
U.S. Treasury and agency securities	$	10,356	$	—	$	—	$	10,356	$	8,163	$	—	$	—	$	8,163
Commercial paper		—		17,981		—		17,981		—		—		—		—
Corporate securities		—		24,885		—		24,885		—		15,719		—		15,719
Other		—		340		51		391		—		225		51		276
Equity securities		10		—		—		10		10		—		—		10
Total	$	10,366	$	43,206	$	51	$	53,623	$	8,173	$	15,944	$	51	$	24,168

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

	For the Three Months Ended
	March 31,
Other, net:	2025		2024
	(In thousands)
Marketable and non-marketable investment securities - realized and unrealized gains (losses)	$	5	$	(870)
Sale of Assets to EchoStar - realized gains (losses) (Note 12)		—		128,788
Equity in earnings (losses) of affiliates		(481)		(708)
Other		(4)		132
Total	$	(480)	$	127,342