Financial Statements of Parent and Subsidiary Guarantors (Tables)

12 Months Ended

Mar. 30, 2012

Financial Statements of Parent and Subsidiary Guarantors [Abstract]

Condensed Consolidated Balance Sheet

Condensed Consolidated Balance Sheet as of March 30, 2012

	Issuing Parent Company		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Consolidation  and Elimination Adjustments			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	162,426	$	439	$	9,718	$	—		$	172,583
Accounts receivable, net		192,313		12,411		6,966		—			211,690
Inventories		106,151		16,474		5,021		—			127,646
Deferred income taxes		18,482		1,526		308		—			20,316
Prepaid expenses and other current assets		27,128		2,923		866		—			30,917
Total current assets		506,500		33,773		22,879		—			563,152
Satellites, net		358,580		227,151		—		—			585,731
Property and equipment, net		178,611		110,137		6,225		—			294,973
Other acquired intangible assets, net		2,633		52,389		8,019		—			63,041
Goodwill		63,939		9,687		9,835		—			83,461
Investments in subsidiaries and intercompany receivables		437,631		2,501		1,428		(441,560	)		—
Other assets		117,300		18,886		609		—			136,795
Total assets	$	1,665,194	$	454,524	$	48,995	$	(441,560	)	$	1,727,153
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	62,085	$	12,192	$	763	$	—		$	75,040
Accrued liabilities		128,327		27,477		3,958		—			159,762
Current portion of other long-term debt		129		1,111		—		—			1,240
Total current liabilities		190,541		40,780		4,721		—			236,042
Senior Notes, net		547,791		—		—		—			547,791
Other long-term debt		74		700		—		—			774
Intercompany payables		1,428		4,462		9,429		(15,319	)		—
Other liabilities		37,385		10,269		2,699		—			50,353
Total liabilities		777,219		56,211		16,849		(15,319	)		834,960
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		887,975		398,313		32,146		(430,459	)		887,975
Noncontrolling interest in subsidiary		—		—		—		4,218			4,218
Total equity		887,975		398,313		32,146		(426,241	)		892,193
Total liabilities and equity	$	1,665,194	$	454,524	$	48,995	$	(441,560	)	$	1,727,153

Condensed Consolidated Balance Sheet as of April 1, 2011

	Issuing Parent Company		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Consolidation  and Elimination Adjustments			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	24,347	$	7,600	$	8,543	$	—		$	40,490
Accounts receivable, net		171,183		10,644		10,062		—			191,889
Inventories		88,542		7,484		2,932		(403	)		98,555
Deferred income taxes		16,428		1,723		162		492			18,805
Prepaid expenses and other current assets		15,236		4,745		1,160		—			21,141
Total current assets		315,736		32,196		22,859		89			370,880
Satellites, net		276,418		256,582		—		—			533,000
Property and equipment, net		122,945		103,410		7,785		(1,001	)		233,139
Other acquired intangible assets, net		6,201		65,341		10,347		—			81,889
Goodwill		63,939		9,686		9,907		—			83,532
Investments in subsidiaries and intercompany receivables		490,288		2,246		404		(492,938	)		—
Other assets		89,834		12,922		552		—			103,308
Total assets	$	1,365,361	$	482,383	$	51,854	$	(493,850	)	$	1,405,748
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	62,465	$	8,164	$	1,083	$	—		$	71,712
Accrued liabilities		100,749		25,691		4,143		—			130,583
Current portion of other long-term debt		116		1,012		—		—			1,128
Total current liabilities		163,330		34,867		5,226		—			203,423
Senior Notes, net		272,296		—		—		—			272,296
Other long-term debt		60,203		1,743		—		—			61,946
Intercompany payables		14,606		—		11,945		(26,551	)		—
Other liabilities		16,464		4,321		3,057		—			23,842
Total liabilities		526,899		40,931		20,228		(26,551	)		561,507
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		838,462		441,452		31,626		(471,415	)		840,125
Noncontrolling interest in subsidiary		—		—		—		4,116			4,116
Total equity		838,462		441,452		31,626		(467,299	)		844,241
Total liabilities and equity	$	1,365,361	$	482,383	$	51,854	$	(493,850	)	$	1,405,748

Condensed Consolidated Statement of Operations

Condensed Consolidated Statement of Operations for the Fiscal Year Ended March 30, 2012

	Issuing Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(In thousands)
Revenues:
Product revenues	$	514,577		$	2,998		$	24,767		$	(278	)	$	542,064
Service revenues		106,548			206,470			10,482			(1,937	)		321,563
Total revenues		621,125			209,468			35,249			(2,215	)		863,627
Operating expenses:
Cost of product revenues		384,858			2,902			16,711			(1,677	)		402,794
Cost of service revenues		66,833			160,579			7,612			(1,837	)		233,187
Selling, general and administrative		119,227			53,051			9,453			(3	)		181,728
Independent research and development		24,109			—			928			(45	)		24,992
Amortization of acquired intangible assets		3,569			12,954			2,209			—			18,732
Income (loss) from operations		22,529			(20,018	)		(1,664	)		1,347			2,194
Other income (expense):
Interest income		264			—			6			(210	)		60
Interest expense		(8,199	)		(108	)		(210	)		210			(8,307	)
Income (loss) before income taxes		14,594			(20,126	)		(1,868	)		1,347			(6,053	)
Provision for (benefit from) income taxes		(7,407	)		(6,038	)		(698	)		492			(13,651	)
Equity in net income (loss) of consolidated subsidiaries		(15,360	)		—			—			15,360			—
Net income (loss)		6,641			(14,088	)		(1,170	)		16,215			7,598
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			102			102
Net income (loss) attributable to ViaSat, Inc.	$	6,641		$	(14,088	)	$	(1,170	)	$	16,113		$	7,496

Condensed Consolidated Statement of Operations for the Fiscal Year Ended April 1, 2011

	Issuing Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(In thousands)
Revenues:
Product revenues	$	505,634		$	5,546		$	16,583		$	(3,825	)	$	523,938
Service revenues		53,701			215,267			10,994			(1,694	)		278,268
Total revenues		559,335			220,813			27,577			(5,519	)		802,206
Operating expenses:
Cost of product revenues		375,635			8,228			9,426			(3,344	)		389,945
Cost of service revenues		34,339			121,024			6,926			(1,666	)		160,623
Selling, general and administrative		104,235			50,946			9,123			(39	)		164,265
Independent research and development		27,807			—			924			(20	)		28,711
Amortization of acquired intangible assets		4,672			12,954			1,783			—			19,409
Income (loss) from operations		12,647			27,661			(605	)		(450	)		39,253
Other income (expense):
Interest income		687			—			9			(373	)		323
Interest expense		(3,103	)		(49	)		(375	)		373			(3,154	)
Income (loss) before income taxes		10,231			27,612			(971	)		(450	)		36,422
Provision for (benefit from) income taxes		(10,188	)		10,325			353			(492	)		(2	)
Equity in net income (loss) of consolidated subsidiaries		15,654			—			—			(15,654	)		—
Net income (loss)		36,073			17,287			(1,324	)		(15,612	)		36,424
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			309			309
Net income (loss) attributable to ViaSat, Inc.	$	36,073		$	17,287		$	(1,324	)	$	(15,921	)	$	36,115

Condensed Consolidated Statement of Operations for the Fiscal Year Ended April 2, 2010

	Issuing Parent Company			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(In thousands)
Revenues:
Product revenues	$	581,911		$	907	$	4,065		$	(2,809	)	$	584,074
Service revenues		34,986			62,499		7,010			(489	)		104,006
Total revenues		616,897			63,406		11,075			(3,298	)		688,080
Operating expenses:
Cost of product revenues		405,624			960		3,851			(1,909	)		408,526
Cost of service revenues		23,070			36,937		7,316			(493	)		66,830
Selling, general and administrative		109,931			20,957		2,013			(6	)		132,895
Independent research and development		26,961			2		362			—			27,325
Amortization of acquired intangible assets		5,178			3,778		538			—			9,494
Income (loss) from operations		46,133			772		(3,005	)		(890	)		43,010
Other income (expense):
Interest income		658			3		12			(52	)		621
Interest expense		(7,354	)		—		(52	)		52			(7,354	)
Income (loss) before income taxes		39,437			775		(3,045	)		(890	)		36,277
Provision for (benefit from) income taxes		5,113			308		17			—			5,438
Equity in net income (loss) of consolidated subsidiaries		(2,300	)		—		—			2,300			—
Net income (loss)		32,024			467		(3,062	)		1,410			30,839
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—		—			(297	)		(297	)
Net income (loss) attributable to ViaSat, Inc.	$	32,024		$	467	$	(3,062	)	$	1,707		$	31,136

Condensed Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows for the Fiscal Year Ended March 30, 2012

	Issuing Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(In thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	64,191		$	71,869		$	7,350		$	(1,961	)	$	141,449
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(156,874	)		(46,922	)		(3,138	)		1,961			(204,973	)
Cash paid for patents, licenses and other assets		(23,993	)		—			(56	)		—			(24,049	)
Long-term intercompany notes and investments		2,849			—			—			(2,849	)		—
Net cash provided by (used in) investing activities		(178,018	)		(46,922	)		(3,194	)		(888	)		(229,022	)
Cash flows from financing activities:
Proceeds from line of credit borrowings		130,000			—			—			—			130,000
Payments on line of credit		(190,000	)		—			—			—			(190,000	)
Proceeds from issuance of Senior Notes		275,000			—			—			—			275,000
Payment of debt issuance costs		(5,706	)		—			—			—			(5,706	)
Proceeds from issuance of common stock under equity plans		19,341			—			—			—			19,341
Purchase of common stock in treasury		(7,451	)		—			—			—			(7,451	)
Payments on capital lease		(116	)		(948	)		—			—			(1,064	)
Payments on estimated satellite performance incentives obligation		(322	)		—			—			—			(322	)
Long-term intercompany financing		31,160			(31,160	)		(2,849	)		2,849			—
Net cash provided by (used in) financing activities		251,906			(32,108	)		(2,849	)		2,849			219,798
Effect of exchange rate changes on cash		—			—			(132	)		—			(132	)
Net increase (decrease) in cash and cash equivalents		138,079			(7,161	)		1,175			—			132,093
Cash and cash equivalents at beginning of fiscal year		24,347			7,600			8,543			—			40,490
Cash and cash equivalents at end of fiscal year	$	162,426		$	439		$	9,718		$	—		$	172,583

Condensed Consolidated Statement of Cash Flows for the Fiscal Year Ended April 1, 2011

	Issuing Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(In thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	57,877		$	112,029		$	(19	)	$	(270	)	$	169,617
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(152,416	)		(54,126	)		(2,013	)		270			(208,285	)
Cash paid for patents, licenses and other assets		(15,942	)		—			(44	)		—			(15,986	)
Payments related to acquisition of businesses, net of cash acquired		(14,203	)		—			747			—			(13,456	)
Long-term intercompany notes and investments		(726	)		100			1,731			(1,105	)		—
Net cash provided by (used in) investing activities		(183,287	)		(54,026	)		421			(835	)		(237,727	)
Cash flows from financing activities:
Proceeds from line of credit borrowings		40,000			—			—			—			40,000
Payments on line of credit		(40,000	)		—			—			—			(40,000	)
Payment of debt issuance costs		(2,775	)		—			—			—			(2,775	)
Proceeds from issuance of common stock under equity plans		26,398			—			—			—			26,398
Purchase of common stock in treasury		(5,880	)		—			—			—			(5,880	)
Incremental tax benefits from stock-based compensation		867			—			—			—			867
Long-term intercompany financing		64,889			(66,619	)		625			1,105			—
Net cash provided by (used in) financing activities		83,499			(66,619	)		625			1,105			18,610
Effect of exchange rate changes on cash		—			—			359			—			359
Net increase (decrease) in cash and cash equivalents		(41,911	)		(8,616	)		1,386			—			(49,141	)
Cash and cash equivalents at beginning of fiscal year		66,258			16,216			7,157			—			89,631
Cash and cash equivalents at end of fiscal year	$	24,347		$	7,600		$	8,543		$	—		$	40,490

Condensed Consolidated Statement of Cash Flows for the Fiscal Year Ended April 2, 2010

	Issuing Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(In thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	74,032		$	40,671		$	(1,238	)	$	(919	)	$	112,546
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(121,497	)		(10,075	)		(3,890	)		919			(134,543	)
Cash paid for patents, licenses and other assets		(13,709	)		—			(87	)		—			(13,796	)
Payments related to acquisition of businesses, net of cash acquired		(442,700	)		64,336			377			—			(377,987	)
Change in restricted cash, net		(31	)		7,329			—			—			7,298
Long-term intercompany notes and investments		(5,114	)		—			691			4,423			—
Net cash provided by (used in) investing activities		(583,051	)		61,590			(2,909	)		5,342			(519,028	)
Cash flows from financing activities:
Proceeds from line of credit borrowings		263,000			—			—			—			263,000
Payments on line of credit		(203,000	)		—			—			—			(203,000	)
Proceeds from issuance of Senior Notes, net of discount		271,582			—			—			—			271,582
Payment of debt issuance costs		(12,781	)		—			—			—			(12,781	)
Proceeds from issuance of common stock under equity plans		23,085			—			—			—			23,085
Proceeds from common stock issued under public offering, net of issuance costs		100,533			—			—			—			100,533
Purchase of common stock in treasury		(10,326	)		—			—			—			(10,326	)
Intercompany long-term financing		85,354			(86,045	)		5,114			(4,423	)		—
Net cash provided by (used in) financing activities		517,447			(86,045	)		5,114			(4,423	)		432,093
Effect of exchange rate changes on cash		—			—			529			—			529
Net increase (decrease) in cash and cash equivalents		8,428			16,216			1,496			—			26,140
Cash and cash equivalents at beginning of fiscal year		57,830			—			5,661			—			63,491
Cash and cash equivalents at end of fiscal year	$	66,258		$	16,216		$	7,157		$	—		$	89,631