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		26,454		176,205
Other		1,215,531		446,695
Total current marketable investment securities		1,242,036		623,044
Restricted marketable investment securities (1)		32,114		27,840
Total marketable investment securities		1,274,150		650,884
Restricted cash and cash equivalents (1)		288,411		90,225
Other investments, net:
Equity method investments (2)		83,423		169,038
Cost method investments		106,811		106,134
Fair value method and other debt investments (3)		12,093		39,198
Total other investments, net		202,327		314,370
Total marketable investment securities, restricted cash and cash equivalents, and other investments, net	$	1,764,888	$	1,055,479

(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) The decrease primarily resulted from our Invidi Technologies Corporation and Broadband Connectivity Solutions (Restricted) Limited investments, 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)	$	3,999,150	$	255,118	$	3,744,032	$	—	$	1,692,849	$	573,504	$	1,119,345	$	—
Debt securities (including restricted):
U.S. Treasury and agency securities	$	8,163	$	8,163	$	—	$	—	$	65,172	$	65,172	$	—	$	—
Commercial paper		596,568		—		596,568		—		290,398		—		290,398		—
Corporate securities		629,115		—		629,115		—		114,265		—		114,265		—
Other		13,850		—		13,799		51		4,844		—		4,700		144
Equity securities		26,454		26,454		—		—		176,205		166,481		9,724		—
Total	$	1,274,150	$	34,617	$	1,239,482	$	51	$	650,884	$	231,653	$	419,087	$	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)	$	(73,217)	$	13,664	$	73,293
Derivative instruments - net realized and/or unrealized gains (losses)		—		(1,793,387)		1,015,387
Other investment securities - other-than-temporary impairments		—		(39,800)		—
Gains (losses) related to early redemption of debt		—		73,024		(922)
Foreign currency transaction gains (losses)		(4,511)		5,677		5,235
Equity in earnings (losses) of affiliates		(73,451)		(8,098)		(3,087)
Liberty Puerto Rico Asset Sale gains (losses) (Note 15)		50,418		—		—
EchoStar Exchange Offers debt extinguishment gains (losses) (Note 10)		688,661		—		—
Other		5,597		(21,872)		(1,465)
Total	$	593,497	$	(1,770,792)	$	1,088,441