2024 Q1 Form 10-K Financial Statement

#000141881924000008 Filed on February 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $203.9M $194.7M $790.7M
YoY Change -0.69% 0.47% 9.67%
Cost Of Revenue $60.33M $55.61M $225.1M
YoY Change -5.36% -2.38% 11.92%
Gross Profit $143.5M $139.1M $565.6M
YoY Change 1.41% 1.65% 8.79%
Gross Profit Margin 70.41% 71.44% 71.53%
Selling, General & Admin $35.31M $34.32M $143.7M
YoY Change -8.72% -6.24% 16.36%
% of Gross Profit 24.6% 24.66% 25.41%
Research & Development $7.198M $5.728M $20.27M
YoY Change 85.61% -0.35% 24.98%
% of Gross Profit 5.02% 4.12% 3.58%
Depreciation & Amortization $49.74M $52.80M $320.0M
YoY Change -34.39% -30.29% 5.44%
% of Gross Profit 34.66% 37.95% 56.58%
Operating Expenses $92.25M $92.83M $164.0M
YoY Change 116.75% -21.39% 17.36%
Operating Profit $51.27M $46.30M $81.63M
YoY Change 121.49% 146.61% 6.45%
Interest Expense -$20.66M -$19.11M $14.70M
YoY Change 15.5% -2.46% -122.08%
% of Operating Profit -40.3% -41.29% 18.01%
Other Income/Expense, Net $43.00K $3.031M -$86.38M
YoY Change -100.24% 530.15% 27.65%
Pretax Income $29.15M $30.21M -$4.747M
YoY Change 430.02% -2076.0% -152.66%
Income Tax $7.931M -$9.578M -$26.25M
% Of Pretax Income 27.21% -31.7%
Net Earnings $19.65M $38.02M $15.42M
YoY Change 101.05% -4805.82% 76.74%
Net Earnings / Revenue 9.64% 19.53% 1.95%
Basic Earnings Per Share $0.16 $0.12
Diluted Earnings Per Share $0.16 $0.29 $0.12
COMMON SHARES
Basic Shares Outstanding 122.4M shares 123.9M shares 125.6M shares
Diluted Shares Outstanding 124.0M shares 127.2M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $174.0M $71.87M $71.87M
YoY Change 37.47% -57.42% -57.42%
Cash & Equivalents $162.5M $71.87M $39.34M
Short-Term Investments
Other Short-Term Assets $14.31M $13.28M $13.28M
YoY Change 1.07% -13.68% -13.68%
Inventory $92.54M $91.14M $91.14M
Prepaid Expenses
Receivables $95.92M $91.72M $94.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $376.8M $271.1M $271.1M
YoY Change 35.18% -11.47% -11.47%
LONG-TERM ASSETS
Property, Plant & Equipment $2.158B $2.196B $2.212B
YoY Change -9.45% -9.76% -9.73%
Goodwill $0.00
YoY Change
Intangibles $40.98M $41.10M
YoY Change -2.87% -3.48%
Long-Term Investments $65.56M $67.13M $67.13M
YoY Change -8.97% 34.66% 34.66%
Other Assets $94.38M $86.71M $70.58M
YoY Change -0.81% -28.97% -32.88%
Total Long-Term Assets $2.359B $2.391B $2.391B
YoY Change -9.02% -9.71% -9.71%
TOTAL ASSETS
Total Short-Term Assets $376.8M $271.1M $271.1M
Total Long-Term Assets $2.359B $2.391B $2.391B
Total Assets $2.736B $2.662B $2.662B
YoY Change -4.73% -9.89% -9.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.55M $28.67M $28.67M
YoY Change -4.73% 34.15% 34.15%
Accrued Expenses $42.93M $54.83M $54.83M
YoY Change -1.09% -19.33% -19.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $15.00M $0.00
YoY Change
Long-Term Debt Due $16.25M $15.00M $15.00M
YoY Change -1.52% -9.09% -9.09%
Total Short-Term Liabilities $113.0M $131.6M $131.6M
YoY Change -2.85% -7.08% -7.08%
LONG-TERM LIABILITIES
Long-Term Debt $1.588B $1.467B $1.467B
YoY Change 8.17% -0.22% -0.22%
Other Long-Term Liabilities $58.00M $16.03M $59.99M
YoY Change 276.98% -2.05% -2.65%
Total Long-Term Liabilities $1.646B $16.03M $1.527B
YoY Change 10595.52% -2.05% -0.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $113.0M $131.6M $131.6M
Total Long-Term Liabilities $1.646B $16.03M $1.527B
Total Liabilities $1.882B $1.774B $1.774B
YoY Change 5.39% -2.84% -2.84%
SHAREHOLDERS EQUITY
Retained Earnings -$256.3M -$235.4M
YoY Change 208.37% 393.04%
Common Stock $1.070B $1.089B
YoY Change -5.07% -3.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.000M $1.000M
YoY Change
Treasury Stock Shares
Shareholders Equity $853.7M $888.1M $888.1M
YoY Change
Total Liabilities & Shareholders Equity $2.736B $2.662B $2.662B
YoY Change -4.73% -9.89% -9.89%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $19.65M $38.02M $15.42M
YoY Change 101.05% -4805.82% 76.74%
Depreciation, Depletion And Amortization $49.74M $52.80M $320.0M
YoY Change -34.39% -30.29% 5.44%
Cash From Operating Activities $71.43M $87.81M $314.9M
YoY Change 3.6% -2.72% -8.65%
INVESTING ACTIVITIES
Capital Expenditures $14.56M $16.19M $73.49M
YoY Change -36.42% -38.94% 3.12%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$10.00M
YoY Change -100.0% -80.0%
Cash From Investing Activities -$14.56M -$16.19M -$83.49M
YoY Change -55.74% -38.94% -31.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $247.0M
YoY Change -3.91%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 45.52M -68.65M -$327.1M
YoY Change -158.39% -38.26% -12.78%
NET CHANGE
Cash From Operating Activities 71.43M 87.81M $314.9M
Cash From Investing Activities -14.56M -16.19M -$83.49M
Cash From Financing Activities 45.52M -68.65M -$327.1M
Net Change In Cash 102.4M 2.974M -$96.90M
YoY Change -342.75% -106.27% -36.31%
FREE CASH FLOW
Cash From Operating Activities $71.43M $87.81M $314.9M
Capital Expenditures $14.56M $16.19M $73.49M
Free Cash Flow $56.86M $71.63M $241.4M
YoY Change 23.51% 12.34% -11.71%

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305431000 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1187000 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-879000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
57455000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
43732000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
26782000 usd
CY2023 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3739000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4602000 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4201000 usd
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6089000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1496000 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2023 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
732000 usd
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
638000 usd
CY2021 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-160000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9538000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18712000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1823000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
50958000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10183000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3592000 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1153000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4227000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1696000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3019000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3441000 usd
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3911000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2759000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4730000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2166000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4899000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5929000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
7170000 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-2961000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
4871000 usd
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-7531000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-2756000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-3792000 usd
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-5083000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
314913000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
344729000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
302874000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73487000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
71267000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42147000 usd
CY2023 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
10000000 usd
CY2022 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
50000000 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2023 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 usd
CY2022 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 usd
CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
1635000 usd
CY2023 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 usd
CY2021 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
7400000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-83487000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-121267000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36382000 usd
CY2023 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
63940000 usd
CY2022 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 usd
CY2021 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
179285000 usd
CY2023 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-72315000 usd
CY2022 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-116500000 usd
CY2021 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-195785000 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
247019000 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
257059000 usd
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
163442000 usd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1162000 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4052000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3958000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3872000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7443000 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9680000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5293000 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5918000 usd
CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
64774000 usd
CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 usd
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-327052000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-374980000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-182469000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1274000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-625000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-288000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-96900000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-152143000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
83735000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
168770000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
320913000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
237178000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71870000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
168770000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
320913000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
91936000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
63880000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
72195000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4225000 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
8225000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2224000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1784000 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7070000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5697000 usd
CY2023 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
6684000 usd
CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4635000 usd
CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2834000 usd
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1315000 usd
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
16616000 usd
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives and recoverability of long-lived and intangible assets, income taxes, stock-based compensation, the incremental borrowing rate for its leases, and contingencies, among others. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses. Actual results could differ materially from those estimates.</span></div>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivables. The majority of cash is invested into a money market fund with U.S. treasuries, agency mortgage backed securities and/or U.S. government guaranteed debt. While the Company maintains its cash and cash equivalents with financial institutions with high credit ratings, it often maintains those deposits in federally insured financial institutions in excess of federally insured limits. The Company performs credit evaluations of its customers’ financial condition and records reserves to provide for estimated credit losses. Accounts receivable are due from both domestic and international customers.</span></div>
CY2023 irdm Definition Three Year Cumulative Inflation Rate Highly Inflationary Economy
DefinitionThreeYearCumulativeInflationRateHighlyInflationaryEconomy
1 rate
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
17964000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
23014000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1202000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
39776000 usd
CY2023Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
32200000 usd
CY2022Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
9000000 usd
CY2023 irdm Share Based Compensation Propertyand Equipment Net
ShareBasedCompensationPropertyandEquipmentNet
5963000 usd
CY2022 irdm Share Based Compensation Propertyand Equipment Net
ShareBasedCompensationPropertyandEquipmentNet
4018000 usd
CY2023 irdm Share Based Compensation Inventory Net
ShareBasedCompensationInventoryNet
721000 usd
CY2022 irdm Share Based Compensation Inventory Net
ShareBasedCompensationInventoryNet
617000 usd
CY2023 irdm Share Based Compensation Equipment Expense
ShareBasedCompensationEquipmentExpense
60000 usd
CY2022 irdm Share Based Compensation Equipment Expense
ShareBasedCompensationEquipmentExpense
69000 usd
CY2023 irdm Share Based Compensation Costof Services
ShareBasedCompensationCostofServices
16128000 usd
CY2022 irdm Share Based Compensation Costof Services
ShareBasedCompensationCostofServices
12337000 usd
CY2023 irdm Share Based Compensation Researchand Development
ShareBasedCompensationResearchandDevelopment
1282000 usd
CY2022 irdm Share Based Compensation Researchand Development
ShareBasedCompensationResearchandDevelopment
648000 usd
CY2023 irdm Share Based Compensation Selling Generaland Administrative Expense
ShareBasedCompensationSellingGeneralandAdministrativeExpense
39985000 usd
CY2022 irdm Share Based Compensation Selling Generaland Administrative Expense
ShareBasedCompensationSellingGeneralandAdministrativeExpense
30678000 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
64139000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
48367000 usd
CY2023 us-gaap Basic Earnings Per Share Adjustment Pro Forma
BasicEarningsPerShareAdjustmentProForma
0.21
CY2023 us-gaap Earnings Per Share Diluted Pro Forma Adjustment
EarningsPerShareDilutedProFormaAdjustment
0.20
CY2023 us-gaap Advertising Expense
AdvertisingExpense
1400000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
1700000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
1900000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71870000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
168770000 usd
CY2023Q4 irdm Satellite System Gross
SatelliteSystemGross
3242829000 usd
CY2022Q4 irdm Satellite System Gross
SatelliteSystemGross
3197460000 usd
CY2023Q4 irdm Ground System Gross
GroundSystemGross
70497000 usd
CY2022Q4 irdm Ground System Gross
GroundSystemGross
73890000 usd
CY2023Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
51788000 usd
CY2022Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
49423000 usd
CY2023Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
332824000 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
297538000 usd
CY2023Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
33433000 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
32695000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3731371000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3651006000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1804884000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1538535000 usd
CY2023Q4 irdm Property Plant And Equipment Net Excluding Construction In Process And Land
PropertyPlantAndEquipmentNetExcludingConstructionInProcessAndLand
1926487000 usd
CY2022Q4 irdm Property Plant And Equipment Net Excluding Construction In Process And Land
PropertyPlantAndEquipmentNetExcludingConstructionInProcessAndLand
2112471000 usd
CY2023Q4 us-gaap Land
Land
8037000 usd
CY2022Q4 us-gaap Land
Land
8037000 usd
CY2023Q4 irdm Spare Satellites
SpareSatellites
181557000 usd
CY2022Q4 irdm Spare Satellites
SpareSatellites
225254000 usd
CY2023Q4 irdm Other Construction In Process
OtherConstructionInProcess
79677000 usd
CY2022Q4 irdm Other Construction In Process
OtherConstructionInProcess
87543000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2195758000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2433305000 usd
CY2023 us-gaap Depreciation
Depreciation
318500000 usd
CY2022 us-gaap Depreciation
Depreciation
301900000 usd
CY2021 us-gaap Depreciation
Depreciation
303800000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15801000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18414000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
19585000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
35225000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
35225000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
22704000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-16834000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5870000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
57929000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-16834000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
41095000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
35225000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
35225000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
22693000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-15341000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7352000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
57918000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-15341000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
42577000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1600000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1600000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
3505000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5870000 usd
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16133000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16925000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16133000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16925000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4327000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3784000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14087000 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
5200000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
5200000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
5600000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5548000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5646000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3792000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2226000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1982000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2592000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21786000 usd
CY2023Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P17Y6M
CY2023 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
19200000 usd
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
21400000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
12391000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
12391000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
12391000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
12391000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
12391000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
82106000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
144061000 usd
CY2023Q4 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
15000000 usd
CY2023Q4 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
100000000 usd
CY2023Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1200000 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-900000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1500000000 usd
CY2019Q4 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
6.25
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
15900000 usd
CY2023 us-gaap Interest Expense
InterestExpense
14700000 usd
CY2023 us-gaap Interest Costs Incurred
InterestCostsIncurred
102321000 usd
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4316000 usd
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
5086000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2590000 usd
CY2022 us-gaap Interest Costs Incurred
InterestCostsIncurred
72090000 usd
CY2021 us-gaap Interest Costs Incurred
InterestCostsIncurred
72816000 usd
CY2023 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3958000 usd
CY2022 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4760000 usd
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2146000 usd
CY2023Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1000000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
300000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
15000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
15000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
15000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
15000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
15000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1425000000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
17510000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
15000000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
1467490000 usd
CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3300000 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3300000 usd
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
8500000 usd
CY2023 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
36200000 usd
CY2022 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
7200000 usd
CY2023 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-17598000 usd
CY2022 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
58668000 usd
CY2021 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
10408000 usd
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
5379000 usd
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
-17834000 usd
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
-3316000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
12917165 shares
CY2023 irdm Share Base Compensation Award Reduction In Shares Available For Issuance By Shares Issued Pursuant To Any Appreciation Award
ShareBaseCompensationAwardReductionInSharesAvailableForIssuanceBySharesIssuedPursuantToAnyAppreciationAward
1 shares
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1
CY2023 irdm Share Based Compensation Award Reductionin Shares Availablefor Issuanceby Shares Issued Pursuantto Any Stock Awardthatisnotan Appreciation Award
ShareBasedCompensationAwardReductioninSharesAvailableforIssuancebySharesIssuedPursuanttoAnyStockAwardthatisnotanAppreciationAward
1.8 shares
CY2023Q4 irdm Total Authorized Preferred Stock Number
TotalAuthorizedPreferredStockNumber
2000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1500000 shares
CY2023Q4 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
500000 shares
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
64800000 usd
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1300000 usd
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
16600000 usd
CY2021Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 usd
CY2023 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
4800000 shares
CY2022 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
6800000 shares
CY2021 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
4300000 shares
CY2023 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
244600000 usd
CY2022 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
257000000 usd
CY2021 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
163400000 usd
CY2023 irdm Treasury Stock Value Tax
TreasuryStockValueTax
1400000 usd
CY2023Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
26000 shares
CY2023Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1000000 usd
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
334000000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1260000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-9094000 usd
CY2023 irdm Income Tax Reconciliation Change In State Tax Valuation Allowance
IncomeTaxReconciliationChangeInStateTaxValuationAllowance
-338000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
31400000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
26300000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
43000000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-10596000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
10179000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-31352000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
5849000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
331000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2464000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4747000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10510000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-28888000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-537000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1032000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
272000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
42000 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
4545000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1209000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
2240000 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5577000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1481000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1745000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-31311000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3354000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-14109000 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-226000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1794000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-6686000 usd
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-291000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
371000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-519000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-31828000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1189000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-21314000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-26251000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
292000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-19569000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-997000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1893000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-6067000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
927000 usd
CY2022 irdm Income Tax Reconciliation Change In State Tax Valuation Allowance
IncomeTaxReconciliationChangeInStateTaxValuationAllowance
748000 usd
CY2021 irdm Income Tax Reconciliation Change In State Tax Valuation Allowance
IncomeTaxReconciliationChangeInStateTaxValuationAllowance
711000 usd
CY2023 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
0 usd
CY2022 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
0 usd
CY2021 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
1200000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-10234000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-6184000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-9597000 usd
CY2023 irdm Effective Income Tax Rate Reconciliation Limitationon Executive Compensation
EffectiveIncomeTaxRateReconciliationLimitationonExecutiveCompensation
4011000 usd
CY2022 irdm Effective Income Tax Rate Reconciliation Limitationon Executive Compensation
EffectiveIncomeTaxRateReconciliationLimitationonExecutiveCompensation
2905000 usd
CY2021 irdm Effective Income Tax Rate Reconciliation Limitationon Executive Compensation
EffectiveIncomeTaxRateReconciliationLimitationonExecutiveCompensation
3140000 usd
CY2021 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
IncomeTaxReconciliationTaxContingenciesForeign
1100000 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1487000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
200000 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
251000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-26251000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
292000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
114000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
33000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
65000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
21817000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
949000 usd
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1278000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
IncomeTaxReconciliationTaxContingenciesForeign
3570000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
IncomeTaxReconciliationTaxContingenciesForeign
386000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-19569000 usd
CY2023Q4 irdm Deferred Tax Assets Long Term Contracts
DeferredTaxAssetsLongTermContracts
51226000 usd
CY2022Q4 irdm Deferred Tax Assets Long Term Contracts
DeferredTaxAssetsLongTermContracts
52553000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
351094000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
374767000 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
26676000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
24553000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
428996000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
451873000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33420000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
34643000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
395576000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
417230000 usd
CY2023Q4 irdm Deferred Tax Liabilities Fixed Assets And Intangibles
DeferredTaxLiabilitiesFixedAssetsAndIntangibles
425980000 usd
CY2022Q4 irdm Deferred Tax Liabilities Fixed Assets And Intangibles
DeferredTaxLiabilitiesFixedAssetsAndIntangibles
490384000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
63108000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
48754000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
19336000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
27976000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
508424000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
567114000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
112848000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
149884000 usd
CY2023Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
1800000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
114600000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
59200000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
60000000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
32300000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
12100000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
8700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
5200000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2022Q4 irdm Foreign Tax Credit Carry Forward Valuation Allowance Increase
ForeignTaxCreditCarryForwardValuationAllowanceIncrease
500000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2400000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 us-gaap Net Income Loss
NetIncomeLoss
15415000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
8722000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-9319000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125598000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128255000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133530000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127215000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130134000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133530000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2023 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
200000 shares
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
3500000 usd
CY2023 irdm No Single Customer Over10 Total Revenue Commercial
NoSingleCustomerOver10TotalRevenueCommercial
0.10
CY2023Q4 irdm No Single Customer Over10 Total Ar Government
NoSingleCustomerOver10TotalARGovernment
0.10 rate
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2195758000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2433305000 usd
CY2023 us-gaap Revenues
Revenues
790723000 usd
CY2022 us-gaap Revenues
Revenues
721034000 usd
CY2021 us-gaap Revenues
Revenues
614500000 usd
CY2023 irdm No Single Customer Over10 Total Revenue Government
NoSingleCustomerOver10TotalRevenueGovernment
0.10
CY2023 us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
1 rate
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1 rate
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.05 rate
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
4300000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
3500000 usd
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
3500000 usd

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