Globalstar, Inc. (GSAT) financial statements (2021 and earlier)

Company profile

Business Address 1351 HOLIDAY SQUARE BLVD.,
COVINGTON,, LA 70433
State of Incorp. DE
Fiscal Year End December 31
SIC 4899 - Communications Services, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1319121082625
Cash and cash equivalents1319121082625
Restricted cash and investments444 16161
Receivables22212022222122
Inventory, net of allowances, customer advances and progress billings14151616161715
Inventory14151616161715
Contract with customer, asset   3221
Other undisclosed current assets16131411151919
Total current assets:6873656163147144
Noncurrent Assets
Finance lease, right-of-use asset0   000
Operating lease, right-of-use asset14141515161614
Property, plant and equipment716734754775800820844
Long-term investments and receivables2   2  
Long-term investments2   2  
Intangible assets, net (including goodwill)28(10)(9)(9)25(9)(8)
Intangible assets, net (excluding goodwill)28(10)(9)(9)25(9)(8)
Restricted cash and investments5151515151  
Other noncurrent assets1   1  
Other undisclosed noncurrent assets847474684544
Total noncurrent assets:820837858878902873894
TOTAL ASSETS:8889119249399661,0201,037
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities29332830334237
Accounts payable3554857
Accrued liabilities26282426253730
Deferred revenue26282727 2833
Debt594645 29999
Derivative instruments and hedges, liabilities     00
Due to related parties1000002
Other undisclosed current liabilities    28  
Total current liabilities:1141071015863169171
Noncurrent Liabilities
Long-term debt and lease obligation340344338370479418406
Long-term debt, excluding current maturities327330324356464402393
Operating lease, liability14141414151513
Liabilities, other than long-term debt11131416161767
Deferred revenue3555555
Liability, pension and other postretirement and postemployment benefits4444455
Other liabilities3333333
Derivative instruments and hedges, liabilities01244454
Total noncurrent liabilities:351357352386495435473
Total liabilities:465464453444558604644
Stockholders' equity
Stockholders' equity attributable to parent, including:423447470495407416393
Additional paid in capital2,0972,0952,0942,0921,9701,9411,940
Accumulated other comprehensive income (loss)(3)002(3)(4)(5)
Accumulated deficit(1,671)(1,649)(1,624)(1,599)(1,559)(1,522)(1,543)
Other undisclosed stockholders' equity attributable to parent0000000
Total stockholders' equity:423447470495407416393
TOTAL LIABILITIES AND EQUITY:8889119249399661,0201,037

Income statement (P&L) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues33333032323931
Cost of revenue(32)(37)(35)(34)(34)(38)(37)
Gross profit:1(5)(5)(2)(2)1(6)
Operating expenses(16)(10)(10)(12)(15)(13)(11)
Operating loss:(15)(15)(15)(14)(17)(12)(17)
Nonoperating income (expense)(6)(10)(9)(24)(20)3323
Investment income, nonoperating111(1)35035
Foreign currency transaction gain (loss), before tax701(9)   
Other nonoperating income (expense)(3)(0)(0)(0)(1)(3)0
Interest and debt expense   (18)(7)(0)(0)
Other undisclosed income from continuing operations before equity method investments, income taxes   18700
Income (loss) from continuing operations before income taxes:(21)(25)(25)(38)(37)216
Income tax expense(0)(0)(0)(0)(0)(0)(0)
Net income (loss) attributable to parent:(22)(25)(25)(38)(38)216
Other undisclosed net income (loss) available to common stockholders, basic(2)(0)0 2(45)5
Net income (loss) available to common stockholders, diluted:(24)(25)(25)(38)(35)(24)11

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income (loss):(22)(25)(25)(38)(38)216
Other comprehensive income (loss) (0)(1)5 1(0)
Comprehensive income (loss):(22)(25)(26)(33)(38)226
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3)   0  
Comprehensive income (loss), net of tax, attributable to parent:(25)(25)(26)(33)(38)226

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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