Financial Statements of Parent and Subsidiary Guarantors (Tables)

3 Months Ended

Jun. 29, 2012

Financial Statements of Parent and Subsidiary Guarantors [Abstract]

Condensed Consolidated Balance Sheet

Condensed Consolidated Balance Sheet as of June 29, 2012

	Issuing Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidation and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	117,893	$	1,896	$	10,103	$	—		$	129,892
Accounts receivable, net		205,072		10,949		5,873		—			221,894
Inventories		111,223		21,627		4,987		—			137,837
Deferred income taxes		18,540		1,526		308		—			20,374
Prepaid expenses and other current assets		26,774		4,895		643		—			32,312
Current portion of intercompany receivables		34,261		—		—		(34,261	)		—
Total current assets		513,763		40,893		21,914		(34,261	)		542,309
Satellites, net		353,241		219,776		—		—			573,017
Property and equipment, net		180,817		122,784		6,008		—			309,609
Other acquired intangible assets, net		2,358		49,151		7,306		—			58,815
Goodwill		63,938		9,687		9,546		—			83,171
Investments in subsidiaries and intercompany receivables		416,879		2,696		1,521		(421,096	)		—
Other assets		126,228		27,836		632		—			154,696
Total assets	$	1,657,224	$	472,823	$	46,927	$	(455,357	)	$	1,721,617
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	64,516	$	10,564	$	651	$	—		$	75,731
Accrued liabilities		115,973		28,936		3,355		—			148,264
Current portion of other long-term debt		131		1,124		—		—			1,255
Current portion of intercompany payables		—		34,261		—		(34,261	)		—
Total current liabilities		180,620		74,885		4,006		(34,261	)		225,250
Senior Notes, net		547,915		—		—		—			547,915
Other long-term debt		41		413		—		—			454
Intercompany payables		1,530		—		9,606		(11,136	)		—
Other liabilities		37,959		14,096		2,579		—			54,634
Total liabilities		768,065		89,394		16,191		(45,397	)		828,253
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		889,159		383,429		30,736		(414,165	)		889,159
Noncontrolling interest in subsidiary		—		—		—		4,205			4,205
Total equity		889,159		383,429		30,736		(409,960	)		893,364
Total liabilities and equity	$	1,657,224	$	472,823	$	46,927	$	(455,357	)	$	1,721,617

Condensed Consolidated Balance Sheet as of March 30, 2012

	Issuing Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidation and Elimination Adjustments			Consolidated
	(Unaudited, 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 Statement of Operations

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) for the Three Months Ended June 29, 2012

	Issuing Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	143,174		$	531		$	4,128		$	(104	)	$	147,729
Service revenues		37,360			54,584			2,478			(388	)		94,034
Total revenues		180,534			55,115			6,606			(492	)		241,763
Operating expenses:
Cost of product revenues		106,325			82			2,722			(80	)		109,049
Cost of service revenues		24,354			52,925			1,678			(388	)		78,569
Selling, general and administrative		31,143			22,975			2,383			—			56,501
Independent research and development		7,091			150			152			(24	)		7,369
Amortization of acquired intangible assets		275			3,238			551			—			4,064
Income (loss) from operations		11,346			(24,255	)		(880	)		—			(13,789	)
Other income (expense):
Interest income		58			—			2			—			60
Interest expense		(11,521	)		(20	)		(5	)		—			(11,546	)
Income (loss) before income taxes		(117	)		(24,275	)		(883	)		—			(25,275	)
Provision for (benefit from) income taxes		(1,320	)		(9,389	)		(133	)		—			(10,842	)
Equity in net income (loss) of consolidated subsidiaries		(15,623	)		—			—			15,623			—
Net income (loss)		(14,420	)		(14,886	)		(750	)		15,623			(14,433	)
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			(13	)		(13	)
Net income (loss) attributable to ViaSat, Inc.	$	(14,420	)	$	(14,886	)	$	(750	)	$	15,636		$	(14,420	)
Comprehensive income (loss) attributable to ViaSat, Inc.	$	(15,121	)	$	(14,886	)	$	(1,475	)	$	16,361		$	(15,121	)

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) for the Three Months Ended July 1, 2011

	Issuing Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	118,913		$	652		$	3,250		$	(269	)	$	122,546
Service revenues		17,697			53,351			2,226			(719	)		72,555
Total revenues		136,610			54,003			5,476			(988	)		195,101
Operating expenses:
Cost of product revenues		89,564			757			2,573			(609	)		92,285
Cost of service revenues		10,892			37,136			1,958			(670	)		49,316
Selling, general and administrative		26,615			13,077			2,044			(3	)		41,733
Independent research and development		5,365			—			338			(9	)		5,694
Amortization of acquired intangible assets		970			3,238			564			—			4,772
Income (loss) from operations		3,204			(205	)		(2,001	)		303			1,301
Other income (expense):
Interest income		133			—			2			(109	)		26
Interest expense		—			—			(109	)		109			—
Income (loss) before income taxes		3,337			(205	)		(2,108	)		303			1,327
Provision for (benefit from) income taxes		(20	)		(90	)		(157	)		—			(267	)
Equity in net income (loss) of consolidated subsidiaries		(1,901	)		—			—			1,901			—
Net income (loss)		1,456			(115	)		(1,951	)		2,204			1,594
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			(165	)		(165	)
Net income (loss) attributable to ViaSat, Inc.	$	1,456		$	(115	)	$	(1,951	)	$	2,369		$	1,759
Comprehensive income (loss) attributable to ViaSat, Inc.	$	1,636		$	(115	)	$	(1,508	)	$	1,926		$	1,939

Condensed Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows for the Three Months Ended June 29, 2012

	Issuing Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(24,999	)	$	25,674		$	116		$	—		$	791
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(12,721	)		(23,944	)		(217	)		—			(36,882	)
Cash paid for patents, licenses and other assets		(6,293	)		—			(34	)		—			(6,327	)
Long-term intercompany notes and investments		(633	)		—			—			633			—
Net cash provided by (used in) investing activities		(19,647	)		(23,944	)		(251	)		633			(43,209	)
Cash flows from financing activities:
Proceeds from issuance of common stock under equity plans		4,635			—			—			—			4,635
Payment of debt issuance costs		(2,215	)		—			—			—			(2,215	)
Purchase of common stock in treasury		(2,020	)		—			—			—			(2,020	)
Payments on capital lease		(32	)		(273	)		—			—			(305	)
Payments of satellite performance incentives obligation		(255	)		—			—			—			(255	)
Long-term intercompany financing		—			—			633			(633	)		—
Net cash provided by (used in) financing activities		113			(273	)		633			(633	)		(160	)
Effect of exchange rate changes on cash		—			—			(113	)		—			(113	)
Net increase (decrease) in cash and cash equivalents		(44,533	)		1,457			385			—			(42,691	)
Cash and cash equivalents at beginning of period		162,426			439			9,718			—			172,583
Cash and cash equivalents at end of period	$	117,893		$	1,896		$	10,103		$	—		$	129,892

Condensed Consolidated Statement of Cash Flows for the Three Months Ended July 1, 2011

	Issuing Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(4,303	)	$	12,921		$	291		$	—		$	8,909
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(30,440	)		(5,897	)		(230	)		—			(36,567	)
Cash paid for patents, licenses and other assets		(4,112	)		—			(7	)		—			(4,119	)
Long-term intercompany notes and investments		(955	)		—			—			955			—
Net cash provided by (used in) investing activities		(35,507	)		(5,897	)		(237	)		955			(40,686	)
Cash flows from financing activities:
Proceeds from issuance of common stock under equity plans		4,469			—			—			—			4,469
Purchase of common stock in treasury		(2,165	)		—			—			—			(2,165	)
Proceeds from line of credit borrowings		15,000			—			—			—			15,000
Long-term intercompany financing		11,069			(11,069	)		955			(955	)		—
Net cash provided by (used in) financing activities		28,373			(11,069	)		955			(955	)		17,304
Effect of exchange rate changes on cash		—			—			96			—			96
Net increase (decrease) in cash and cash equivalents		(11,437	)		(4,045	)		1,105			—			(14,377	)
Cash and cash equivalents at beginning of period		24,347			7,600			8,543			—			40,490
Cash and cash equivalents at end of period	$	12,910		$	3,555		$	9,648		$	—		$	26,113