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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments81542107717
Cash and cash equivalents81542107717
Restricted cash and investments16064    
Receivables22191715151516
Inventory, net of allowances, customer advances and progress billings161478121532
Inventory161478121532
Contract with customer, asset21
Advances on inventory purchases     09
Other undisclosed current assets151375487
Total current assets:6312313638384581
Noncurrent Assets
Inventory, Noncurrent    9  
Finance lease, right-of-use asset0
Operating lease, right-of-use asset16
Property, plant and equipment8008839711,0401,0781,1141,170
Long-term investments and receivables22     
Long-term investments22     
Intangible assets, net (including goodwill)25251076 1
Intangible assets, net (excluding goodwill)25251076 1
Restricted cash and investments51  38383838
Deferred costs    58641
Other noncurrent assets11     
Other undisclosed noncurrent assets81212106881
Total noncurrent assets:9029239931,0941,1941,2241,291
TOTAL ASSETS:9661,0451,1291,1331,2331,2681,373
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:33302721313743
Accounts payable87679715
Accrued liabilities25232123222223
Taxes payable     76
Interest and dividends payable     1 
Other undisclosed accounts payable and accrued liabilities   (10)   
Debt29679763364
Derivative instruments and hedges, liabilities 11   57
Due to related parties0100100
Deferred revenue and credits3226242217
Contract with customer, liability32
Other undisclosed current liabilities28 2149191418
Total current liabilities:6316016017210779140
Noncurrent Liabilities
Long-term debt and lease obligation479367435501606624665
Long-term debt, excluding current maturities464367435501606624665
Operating lease, liability15
Liabilities, other than long-term debt16160243298283491456
Deferred revenue and credits66677
Pension and other postretirement defined benefit plans, liabilities4
Accounts payable and accrued liabilities    212121
Deferred revenue5
Contract with customer, liability6
Asset retirement obligations     11
Liability for uncertainty in income taxes     34
Liability, pension and other postretirement and postemployment benefits444555
Other liabilities3366111214
Derivative instruments and hedges, liabilities4146227281240442405
Other undisclosed noncurrent liabilities     (4)(5)
Total noncurrent liabilities:4955276787988891,1101,116
Total liabilities:5586878389719961,1901,256
Stockholders' equity
Stockholders' equity attributable to parent, including:40735929116223779117
Common stock      0
Additional paid in capital1,9701,9371,8691,6491,5911,5041,075
Accumulated other comprehensive income (loss)(3)(4)(7)(5)(5)(3)1
Accumulated deficit(1,559)(1,575)(1,571)(1,482)(1,350)(1,422)(959)
Other undisclosed stockholders' equity attributable to parent000000 
Total stockholders' equity:40735929116223779117
TOTAL LIABILITIES AND EQUITY:9661,0451,1291,1331,2331,2681,373

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues13213011397909083
Revenue, net11397909083
Cost of revenue(144)(120)(115)(110)(114)(149)(128)
Cost of goods and services sold(0) (48)(42)(42)(66)(50)
Gross profit:(12)10(2)(13)(24)(59)(45)
Operating expenses(52)(57)(67)(51)(43)(36)(42)
Operating loss:(64)(47)(69)(64)(67)(96)(87)
Nonoperating income (expense)8041(20)(76)140(366)(503)
Investment income, nonoperating1458121(42)182(286)(306)
Interest and debt expense(16)(9)(8)(9)(10)(50)(109)
Other undisclosed income from continuing operations before equity method investments, income taxes169891050109
Income (loss) from continuing operations before income taxes:16(6)(89)(139)74(462)(590)
Income tax expense (benefit)(1)(0)(0)7(1)(1)(1)
Net income (loss) attributable to parent:15(7)(89)(133)72(463)(591)
Other undisclosed net income (loss) available to common stockholders, basic(126)   11  
Net income (loss) available to common stockholders, diluted:(111)(7)(89)(133)84(463)(591)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):15(7)(89)(133)72(463)(591)
Other comprehensive income (loss) 3(2)(1)(2)(4)3
Comprehensive income (loss):15(3)(91)(133)70(467)(588)
Other undisclosed comprehensive income, net of tax, attributable to parent0      
Comprehensive income (loss), net of tax, attributable to parent:16(3)(91)(133)70(467)(588)

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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