Globalstar, Inc. (GSAT) financial statements (2022 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)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments141381542107
Cash and cash equivalents141381542107
Restricted cash and investments 416064  
Receivables27222219171515
Inventory, net of allowances, customer advances and progress billings141416147812
Inventory141416147812
Contract with customer, asset  21✕✕✕
Other undisclosed current assets14161513754
Total current assets:6968631231363838
Noncurrent Assets
Inventory, Noncurrent      9
Finance lease, right-of-use asset000✕✕✕✕
Operating lease, right-of-use asset321416✕✕✕✕
Property, plant and equipment6727168008839711,0401,078
Long-term investments and receivables0222   
Long-term investments0222   
Intangible assets, net (including goodwill)312825251076
Intangible assets, net (excluding goodwill)312825251076
Restricted cash and investments 5151  3838
Deferred costs      58
Other noncurrent assets2111   
Other undisclosed noncurrent assets8881212106
Total noncurrent assets:7458209029239931,0941,194
TOTAL ASSETS:8148889661,0451,1291,1331,233
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:35293330272131
Accounts payable6387679
Accrued liabilities29262523212322
Other undisclosed accounts payable and accrued liabilities     (10) 
Deferred revenue2626 ✕✕✕✕
Debt 59296797633
Derivative instruments and hedges, liabilities   11  
Due to related parties0101001
Deferred revenue and credits✕✕✕✕322624
Contract with customer, liability✕✕✕32✕✕✕
Other undisclosed current liabilities  28 214919
Total current liabilities:6211463160160172107
Noncurrent Liabilities
Long-term debt and lease obligation267340479367435501606
Long-term debt, excluding current maturities238327464367435501606
Operating lease, liability291415✕✕✕✕
Liabilities, other than long-term debt1201116160243298283
Deferred revenue and credits✕✕✕✕666
Accounts payable and accrued liabilities      21
Deferred revenue11235✕✕✕✕
Contract with customer, liability✕✕✕6✕✕✕
Liability, pension and other postretirement and postemployment benefits 444455
Other liabilities83336611
Derivative instruments and hedges, liabilities 04146227281240
Total noncurrent liabilities:387351495527678798889
Total liabilities:449465558687838971996
Stockholders' equity
Stockholders' equity attributable to parent, including:365423407359291162237
Additional paid in capital2,1472,0971,9701,9371,8691,6491,591
Accumulated other comprehensive income (loss)2(3)(3)(4)(7)(5)(5)
Accumulated deficit(1,783)(1,671)(1,559)(1,575)(1,571)(1,482)(1,350)
Other undisclosed stockholders' equity attributable to parent0000000
Total stockholders' equity:365423407359291162237
TOTAL LIABILITIES AND EQUITY:8148889661,0451,1291,1331,233

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1241281321301139790
Revenue, net✕✕✕✕1139790
Cost of revenue(145)(139)(144)(120)(115)(110)(114)
Cost of goods and services sold(1)(1)(0) (48)(42)(42)
Gross profit:(21)(10)(12)10(2)(13)(24)
Operating expenses(45)(49)(52)(57)(67)(51)(43)
Operating loss:(66)(59)(64)(47)(69)(64)(67)
Nonoperating income (expense)(47)(50)8041(20)(76)140
Investment income, nonoperating(1)31458121(42)182
Interest and debt expense(0)(18)(16)(9)(8)(9)(10)
Other undisclosed income from continuing operations before equity method investments, income taxes 181698910
Income (loss) from continuing operations before equity method investments, income taxes:(113)(109)16(6)(89)(139)74
Other undisclosed income from continuing operations before income taxes0      
Income (loss) from continuing operations before income taxes:(113)(109)16(6)(89)(139)74
Income tax expense (benefit)0(1)(1)(0)(0)7(1)
Net income (loss) attributable to parent:(113)(110)15(7)(89)(133)72
Other undisclosed net income (loss) available to common stockholders, basic  (126)   11
Net income (loss) available to common stockholders, diluted:(113)(110)(111)(7)(89)(133)84

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(113)(110)15(7)(89)(133)72
Other comprehensive income (loss)   3(2)(1)(2)
Comprehensive income (loss):(113)(110)15(3)(91)(133)70
Other undisclosed comprehensive income, net of tax, attributable to parent510    
Comprehensive income (loss), net of tax, attributable to parent:(108)(109)16(3)(91)(133)70

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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