Iridium Communications Inc (IRDM) Financial Statements (2023 and Earlier)

Company Profile

Business Address 1750 TYSONS BOULEVARD
MCLEAN, VA 22102
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3669 - Communications Equipment, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments321237224273298410
Cash and cash equivalents321237224273286371
Short-term investments    1239
Receivables636169716857
Inventory, net of allowances, customer advances and progress billings293240282018
Inventory293240282018
Other undisclosed current assets111711182531
Total current assets:424348343390411517
Noncurrent Assets
Property, plant and equipment2,6622,9173,1813,3713,2102,813
Intangible assets, net (including goodwill)444647495046
Intangible assets, net (excluding goodwill)444647495046
Restricted cash and investments   192102113
Other noncurrent assets50515313811
Total noncurrent assets:2,7563,0133,2813,6243,3712,983
TOTAL ASSETS:3,1813,3613,6244,0143,7823,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities646464999049
Accounts payable16147134311
Accrued liabilities484949573224
Interest and dividends payable 08291514
Deferred revenue283239
Debt1717 12686 
Deferred revenue and credits3834
Other undisclosed current liabilities  1137  
Total current liabilities:10911311426321483
Noncurrent Liabilities
Long-term debt and lease obligation1,5821,5971,4131,8301,6181,657
Long-term debt, excluding current maturities1,5821,5971,4131,8301,6181,657
Liabilities, other than long-term debt2027696246353402
Deferred revenue and credits4836
Deferred revenue485167
Deferred tax liabilities, net241246362
Deferred income tax liabilities134  
Other liabilities2025294604
Other undisclosed noncurrent liabilities 15554275 13
Total noncurrent liabilities:1,7841,8282,0512,1501,9712,073
Total liabilities:1,8931,9422,1642,4132,1862,156
Stockholders' equity
Stockholders' equity attributable to parent1,2881,4191,4591,6021,5961,344
Common stock000000
Additional paid in capital1,1541,1611,1341,1091,0811,060
Accumulated other comprehensive loss(7)(17)(7)(9)(4)(5)
Retained earnings141276332502519289
Total stockholders' equity:1,2881,4191,4591,6021,5961,344
TOTAL LIABILITIES AND EQUITY:3,1813,3613,6244,0143,7823,500

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues615583560523448434
Revenue, net448434
Cost of revenue(454)(444)(441)(359)(247)(158)
Cost of goods and services sold  (1)(0)(44)(45)
Gross profit:160139119164201276
Operating expenses(114)(104)(109)(122)(100)(100)
Other undisclosed operating income    14 
Operating income:46351042115176
Nonoperating income (expense)(75)(124)(228)(62)42
Interest and debt expense(1)(4)(112)714(78)
Income (loss) from continuing operations before equity method investments, income taxes:(30)(93)(330)(13)134100
Other undisclosed income (loss) from continuing operations before income taxes14112(7)(14)78
Income (loss) from continuing operations before income taxes:(29)(89)(218)(21)120178
Income tax expense (benefit)2033567114(67)
Net income (loss) attributable to parent:(9)(56)(162)(13)234111
Undistributed earnings (loss) allocated to participating securities, basic    (0)
Other undisclosed net loss available to common stockholders, basic  (4)(10)(15)(15)
Net income (loss) available to common stockholders, basic:(9)(56)(166)(24)21896
Other undisclosed net income available to common stockholders, diluted    1515
Net income (loss) available to common stockholders, diluted:(9)(56)(166)(24)234111

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):(9)(56)(162)(13)234111
Other comprehensive income3     
Comprehensive income (loss):(6)(56)(162)(13)234111
Other undisclosed comprehensive income (loss), net of tax, attributable to parent7(10)2(5)24
Comprehensive income (loss), net of tax, attributable to parent:1(66)(160)(18)236115

Statements Sources

The financial statements are based on the Company's filings with 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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