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
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13815421077
Cash and cash equivalents13815421077
Restricted cash and investments416064   
Receivables22221917151515
Inventory, net of allowances, customer advances and progress billings141614781215
Inventory141614781215
Contract with customer, asset 21
Advances on inventory purchases      0
Other undisclosed current assets1615137548
Total current assets:6863123136383845
Noncurrent Assets
Inventory, Noncurrent     9 
Finance lease, right-of-use asset00
Operating lease, right-of-use asset1416
Property, plant and equipment7168008839711,0401,0781,114
Long-term investments and receivables222    
Long-term investments222    
Intangible assets, net (including goodwill)2825251076 
Intangible assets, net (excluding goodwill)2825251076 
Restricted cash and investments5151  383838
Deferred costs     5864
Other noncurrent assets111    
Other undisclosed noncurrent assets8812121068
Total noncurrent assets:8209029239931,0941,1941,224
TOTAL ASSETS:8889661,0451,1291,1331,2331,268
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:29333027213137
Accounts payable3876797
Accrued liabilities26252321232222
Taxes payable      7
Interest and dividends payable      1
Other undisclosed accounts payable and accrued liabilities    (10)  
Deferred revenue26 
Debt592967976336
Derivative instruments and hedges, liabilities  11   
Due to related parties1010010
Deferred revenue and credits32262422
Contract with customer, liability32
Other undisclosed current liabilities 28 21491914
Total current liabilities:1146316016017210779
Noncurrent Liabilities
Long-term debt and lease obligation340479367435501606624
Long-term debt, excluding current maturities327464367435501606624
Operating lease, liability1415
Liabilities, other than long-term debt1116160243298283491
Deferred revenue and credits6667
Accounts payable and accrued liabilities     2121
Deferred revenue35
Contract with customer, liability6
Asset retirement obligations      1
Liability for uncertainty in income taxes      3
Liability, pension and other postretirement and postemployment benefits4444555
Other liabilities333661112
Derivative instruments and hedges, liabilities04146227281240442
Other undisclosed noncurrent liabilities      (4)
Total noncurrent liabilities:3514955276787988891,110
Total liabilities:4655586878389719961,190
Stockholders' equity
Stockholders' equity attributable to parent, including:42340735929116223779
Additional paid in capital2,0971,9701,9371,8691,6491,5911,504
Accumulated other comprehensive loss(3)(3)(4)(7)(5)(5)(3)
Accumulated deficit(1,671)(1,559)(1,575)(1,571)(1,482)(1,350)(1,422)
Other undisclosed stockholders' equity attributable to parent0000000
Total stockholders' equity:42340735929116223779
TOTAL LIABILITIES AND EQUITY:8889661,0451,1291,1331,2331,268

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues128132130113979090
Revenue, net113979090
Cost of revenue(139)(144)(120)(115)(110)(114)(149)
Cost of goods and services sold(1)(0) (48)(42)(42)(66)
Gross profit:(10)(12)10(2)(13)(24)(59)
Operating expenses(49)(52)(57)(67)(51)(43)(36)
Operating loss:(59)(64)(47)(69)(64)(67)(96)
Nonoperating income (expense)(50)8041(20)(76)140(366)
Investment income, nonoperating31458121(42)182(286)
Interest and debt expense(18)(16)(9)(8)(9)(10)(50)
Other undisclosed income from continuing operations before equity method investments, income taxes18169891050
Income (loss) from continuing operations before income taxes:(109)16(6)(89)(139)74(462)
Income tax expense (benefit)(1)(1)(0)(0)7(1)(1)
Net income (loss) attributable to parent:(110)15(7)(89)(133)72(463)
Other undisclosed net income (loss) available to common stockholders, basic (126)   11 
Net income (loss) available to common stockholders, diluted:(110)(111)(7)(89)(133)84(463)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(110)15(7)(89)(133)72(463)
Other comprehensive income (loss)  3(2)(1)(2)(4)
Comprehensive income (loss):(110)15(3)(91)(133)70(467)
Other undisclosed comprehensive income, net of tax, attributable to parent10     
Comprehensive income (loss), net of tax, attributable to parent:(109)16(3)(91)(133)70(467)

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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