http://fasb.org/us-gaap/2024#OtherAccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrenthttp://fasb.org/us-gaap/2024#AccountsPayableCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrenthttp://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligationsCurrenthttp://www.dishnetwork.com/20240930#LongTermDebtAndFinanceLeaseObligationsNetOfCurrentPortionhttp://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligationsCurrent http://www.dishnetwork.com/20240930#LongTermDebtAndFinanceLeaseObligationsNetOfCurrentPortion0001001082--12-312024Q3false0.023750.023750.058750.058750.07750.07750.033750.033750.05250.05250.11750.11750.073750.073750.05750.05750.051250.051250.023750.058750.1075P1YP1Yhttp://fasb.org/us-gaap/2024#OtherAccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrenthttp://fasb.org/us-gaap/2024#AccountsPayableCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrenthttp://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligationsCurrenthttp://www.dishnetwork.com/20240930#LongTermDebtAndFinanceLeaseObligationsNetOfCurrentPortionhttp://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligationsCurrent http://www.dishnetwork.com/20240930#LongTermDebtAndFinanceLeaseObligationsNetOfCurrentPortion0.023750.05250.05250.05750.05750.07750.07750.073750.073750.051250.051250.058750.033750.033750.05250.05750.05250.05750.033750.06750.023750001001082us-gaap:CommonStockMember2023-07-012023-09-300001001082us-gaap:CommonStockMember2023-04-012023-06-300001001082us-gaap:CommonStockMember2023-01-012023-03-310001001082us-gaap:RetainedEarningsMember2024-09-300001001082us-gaap:NoncontrollingInterestMember2024-09-300001001082us-gaap:AdditionalPaidInCapitalMember2024-09-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300001001082us-gaap:RetainedEarningsMember2024-06-300001001082us-gaap:NoncontrollingInterestMember2024-06-300001001082us-gaap:AdditionalPaidInCapitalMember2024-06-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001001082us-gaap:RetainedEarningsMember2024-03-310001001082us-gaap:NoncontrollingInterestMember2024-03-310001001082us-gaap:AdditionalPaidInCapitalMember2024-03-310001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310001001082us-gaap:RetainedEarningsMember2023-12-310001001082us-gaap:NoncontrollingInterestMember2023-12-310001001082us-gaap:AdditionalPaidInCapitalMember2023-12-310001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001001082dish:RedeemableNoncontrollingInterestMember2023-12-310001001082us-gaap:RetainedEarningsMember2023-09-300001001082us-gaap:NoncontrollingInterestMember2023-09-300001001082us-gaap:CommonStockMember2023-09-300001001082us-gaap:AdditionalPaidInCapitalMember2023-09-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300001001082dish:RedeemableNoncontrollingInterestMember2023-09-300001001082us-gaap:RetainedEarningsMember2023-06-300001001082us-gaap:NoncontrollingInterestMember2023-06-300001001082us-gaap:CommonStockMember2023-06-300001001082us-gaap:AdditionalPaidInCapitalMember2023-06-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001001082dish:RedeemableNoncontrollingInterestMember2023-06-300001001082us-gaap:RetainedEarningsMember2023-03-310001001082us-gaap:NoncontrollingInterestMember2023-03-310001001082us-gaap:CommonStockMember2023-03-310001001082us-gaap:AdditionalPaidInCapitalMember2023-03-310001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310001001082dish:RedeemableNoncontrollingInterestMember2023-03-3100010010822023-03-310001001082us-gaap:RetainedEarningsMember2022-12-310001001082us-gaap:NoncontrollingInterestMember2022-12-310001001082us-gaap:CommonStockMember2022-12-310001001082us-gaap:AdditionalPaidInCapitalMember2022-12-310001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001001082dish:RedeemableNoncontrollingInterestMember2022-12-310001001082dish:PayTvAndBroadbandMember2024-07-012024-09-300001001082dish:FiveGNetworkDeploymentMember2024-07-012024-09-300001001082dish:PayTvAndBroadbandMember2024-01-012024-09-300001001082dish:FiveGNetworkDeploymentMember2024-01-012024-09-300001001082dish:PayTvAndBroadbandMember2023-07-012023-09-300001001082dish:FiveGNetworkDeploymentMember2023-07-012023-09-300001001082dish:PayTvAndBroadbandMember2023-01-012023-09-300001001082dish:FiveGNetworkDeploymentMember2023-01-012023-09-300001001082us-gaap:ServiceMemberdish:EchoStarMember2024-07-012024-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:WirelessMember2024-07-012024-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:PayTvAndBroadbandMember2024-07-012024-09-300001001082us-gaap:ServiceMember2024-07-012024-09-300001001082dish:WirelessServicesAndRelatedRevenueMember2024-07-012024-09-300001001082dish:WirelessEquipmentAndRelatedRevenueMember2024-07-012024-09-300001001082dish:PayTvVideoAndRelatedRevenueMember2024-07-012024-09-300001001082dish:EquipmentSalesAndOtherRevenueMember2024-07-012024-09-300001001082us-gaap:ServiceMemberdish:EchoStarMember2024-01-012024-09-300001001082srt:ConsolidationEliminationsMemberdish:AllOtherAndEliminationsMember2024-01-012024-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:WirelessMember2024-01-012024-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:PayTvAndBroadbandMember2024-01-012024-09-300001001082us-gaap:ServiceMember2024-01-012024-09-300001001082dish:WirelessServicesAndRelatedRevenueMember2024-01-012024-09-300001001082dish:WirelessEquipmentAndRelatedRevenueMember2024-01-012024-09-300001001082dish:PayTvVideoAndRelatedRevenueMember2024-01-012024-09-300001001082dish:EquipmentSalesAndOtherRevenueMember2024-01-012024-09-300001001082us-gaap:ServiceMemberdish:EchoStarMember2023-07-012023-09-300001001082srt:ConsolidationEliminationsMemberdish:AllOtherAndEliminationsMember2023-07-012023-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:WirelessMember2023-07-012023-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:PayTvAndBroadbandMember2023-07-012023-09-300001001082us-gaap:ServiceMember2023-07-012023-09-300001001082dish:WirelessServicesAndRelatedRevenueMember2023-07-012023-09-300001001082dish:WirelessEquipmentAndRelatedRevenueMember2023-07-012023-09-300001001082dish:PayTvVideoAndRelatedRevenueMember2023-07-012023-09-300001001082dish:EquipmentSalesAndOtherRevenueMember2023-07-012023-09-300001001082us-gaap:ServiceMemberdish:EchoStarMember2023-01-012023-09-300001001082srt:ConsolidationEliminationsMemberdish:AllOtherAndEliminationsMember2023-01-012023-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:WirelessMember2023-01-012023-09-300001001082dish:EquipmentSalesAndOtherRevenueMemberdish:PayTvAndBroadbandMember2023-01-012023-09-300001001082us-gaap:ServiceMember2023-01-012023-09-300001001082dish:WirelessServicesAndRelatedRevenueMember2023-01-012023-09-300001001082dish:WirelessEquipmentAndRelatedRevenueMember2023-01-012023-09-300001001082dish:PayTvVideoAndRelatedRevenueMember2023-01-012023-09-300001001082dish:EquipmentSalesAndOtherRevenueMember2023-01-012023-09-300001001082dish:NewDishDbsFinancingMember2024-09-300001001082srt:MinimumMemberus-gaap:BuildingAndBuildingImprovementsMember2024-09-300001001082srt:MinimumMemberdish:SoftwareAndComputerEquipmentMember2024-09-300001001082srt:MinimumMemberdish:SatellitesMember2024-09-300001001082srt:MinimumMemberdish:FurnitureFixturesEquipmentAndOtherMember2024-09-300001001082srt:MinimumMemberdish:FiveGNetworkDeploymentEquipmentMember2024-09-300001001082srt:MinimumMemberdish:EquipmentsLeasedToOtherPartyMember2024-09-300001001082srt:MaximumMemberus-gaap:BuildingAndBuildingImprovementsMember2024-09-300001001082srt:MaximumMemberdish:SoftwareAndComputerEquipmentMember2024-09-300001001082srt:MaximumMemberdish:SatellitesMember2024-09-300001001082srt:MaximumMemberdish:FurnitureFixturesEquipmentAndOtherMember2024-09-300001001082srt:MaximumMemberdish:FiveGNetworkDeploymentEquipmentMember2024-09-300001001082srt:MaximumMemberdish:EquipmentsLeasedToOtherPartyMember2024-09-300001001082us-gaap:LandMember2024-09-300001001082us-gaap:ConstructionInProgressMember2024-09-300001001082us-gaap:BuildingAndBuildingImprovementsMember2024-09-300001001082dish:SoftwareAndComputerEquipmentMember2024-09-300001001082dish:SatellitesMember2024-09-300001001082dish:FurnitureFixturesEquipmentAndOtherMember2024-09-300001001082dish:FiveGNetworkDeploymentEquipmentMember2024-09-300001001082dish:EquipmentsLeasedToOtherPartyMember2024-09-300001001082dish:AssetsHeldUnderFinanceLeasesMember2024-09-300001001082us-gaap:LandMember2023-12-310001001082us-gaap:ConstructionInProgressMember2023-12-310001001082us-gaap:BuildingAndBuildingImprovementsMember2023-12-310001001082dish:SoftwareAndComputerEquipmentMember2023-12-310001001082dish:SatellitesMember2023-12-310001001082dish:FurnitureFixturesEquipmentAndOtherMember2023-12-310001001082dish:FiveGNetworkDeploymentEquipmentMember2023-12-310001001082dish:EquipmentsLeasedToOtherPartyMember2023-12-310001001082dish:AssetsHeldUnderFinanceLeasesMember2023-12-310001001082dish:InterCompanyLoanMember2024-03-012024-03-310001001082dish:InterCompanyLoanMember2024-01-102024-01-100001001082dish:InterCompanyLoanMember2024-01-012024-01-310001001082dish:InterCompanyLoanMemberdish:DISHDBSCorporationMember2022-02-112022-02-110001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingMember2024-01-012024-09-300001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingMember2023-01-012023-12-310001001082dish:CapitalizedInterestMember2024-01-012024-09-300001001082dish:NetworkDevelopment5gMember2008-01-012024-09-300001001082dish:EchostarSnrHoldcoLlcMemberdish:SnrHoldcoMember2024-02-162024-02-160001001082dish:NorthstarSpectrumMember2023-10-122023-10-120001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingMember2024-07-012024-09-300001001082dish:InterCompanyLoanMemberdish:DISHDBSCorporationMember2024-09-300001001082dish:IntercompanyLoan2028TrancheMemberdish:DISHDBSCorporationMember2024-09-300001001082dish:NbiotCapitalizedCostsMember2024-07-012024-09-300001001082dish:NbiotCapitalizedCostsMember2024-01-012024-09-300001001082dish:NetworkDevelopment5gMember2023-07-012023-09-300001001082dish:NbiotCapitalizedCostsMember2023-07-012023-09-300001001082dish:NetworkDevelopment5gMember2023-01-012023-09-300001001082dish:NbiotCapitalizedCostsMember2023-01-012023-09-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001001082us-gaap:OperatingSegmentsMemberdish:RetailWirelessMember2024-07-012024-09-300001001082us-gaap:OperatingSegmentsMemberdish:PayTvAndBroadbandMember2024-07-012024-09-300001001082us-gaap:OperatingSegmentsMemberdish:FiveGNetworkDeploymentMember2024-07-012024-09-300001001082srt:ConsolidationEliminationsMemberdish:AllOtherAndEliminationsMember2024-07-012024-09-300001001082us-gaap:OperatingSegmentsMemberdish:RetailWirelessMember2024-01-012024-09-300001001082us-gaap:OperatingSegmentsMemberdish:PayTvAndBroadbandMember2024-01-012024-09-300001001082us-gaap:OperatingSegmentsMemberdish:FiveGNetworkDeploymentMember2024-01-012024-09-300001001082us-gaap:OperatingSegmentsMemberdish:RetailWirelessMember2023-07-012023-09-300001001082us-gaap:OperatingSegmentsMemberdish:PayTvAndBroadbandMember2023-07-012023-09-300001001082us-gaap:OperatingSegmentsMemberdish:FiveGNetworkDeploymentMember2023-07-012023-09-300001001082us-gaap:OperatingSegmentsMemberdish:RetailWirelessMember2023-01-012023-09-300001001082us-gaap:OperatingSegmentsMemberdish:PayTvAndBroadbandMember2023-01-012023-09-300001001082us-gaap:OperatingSegmentsMemberdish:FiveGNetworkDeploymentMember2023-01-012023-09-300001001082dish:NagraStarLLCMember2024-07-012024-09-300001001082dish:NagraStarLLCMember2024-01-012024-09-300001001082dish:NagraStarLLCMember2023-07-012023-09-300001001082dish:NagraStarLLCMember2023-01-012023-09-300001001082dish:DISHDBSCorporationMember2024-09-300001001082dish:WirelessEquipmentMember2024-01-012024-09-300001001082dish:WirelessEquipmentMember2023-01-012023-09-300001001082us-gaap:RetainedEarningsMember2024-07-012024-09-300001001082us-gaap:RetainedEarningsMember2024-04-012024-06-300001001082us-gaap:RetainedEarningsMember2023-07-012023-09-300001001082us-gaap:RetainedEarningsMember2023-04-012023-06-300001001082us-gaap:RetainedEarningsMember2023-01-012023-03-310001001082dish:StrategicMarketableInvestmentTradingSecuritiesMember2024-09-300001001082dish:StrategicMarketableInvestmentAvailableForSaleSecuritiesMember2024-09-300001001082dish:OtherInvestmentSecuritiesMember2024-09-300001001082dish:StrategicMarketableInvestmentTradingSecuritiesMember2023-12-310001001082dish:StrategicMarketableInvestmentAvailableForSaleSecuritiesMember2023-12-310001001082dish:OtherInvestmentSecuritiesMember2023-12-310001001082dish:RestrictedMarketableInvestmentSecuritiesMember2024-09-300001001082dish:RestrictedMarketableInvestmentSecuritiesMember2023-12-310001001082dish:CyberSecurityClassActionsMember2024-01-012024-09-300001001082dish:ClearplayMemberus-gaap:PendingLitigationMember2023-03-212023-03-210001001082dish:VermontNationalTelephoneCompanyMemberdish:NorthstarWirelessOrNorthstarSpectrumMembersrt:MinimumMemberdish:Aws3LicensesMember2016-09-232016-09-230001001082dish:VermontNationalTelephoneCompanyMemberdish:NorthstarWirelessOrNorthstarSpectrumMembersrt:MaximumMemberdish:Aws3LicensesMember2016-09-232016-09-230001001082dish:TqDeltaLlcMemberus-gaap:PendingLitigationMember2015-07-172015-07-1700010010822022-09-200001001082dish:ConxCorpMember2024-05-010001001082srt:MinimumMember2024-09-300001001082srt:MaximumMember2024-09-3000010010822024-03-310001001082us-gaap:RelatedPartyMember2024-09-300001001082us-gaap:NonrelatedPartyMember2024-09-300001001082us-gaap:NonrelatedPartyMember2023-12-310001001082dish:InterCompanyLoanMemberdish:DISHDBSCorporationMember2024-07-012024-09-300001001082dish:IntercompanyLoan2028TrancheMemberdish:DISHDBSCorporationMember2024-07-012024-09-300001001082dish:InterCompanyLoanMemberdish:DISHDBSCorporationMember2024-01-012024-09-300001001082dish:IntercompanyLoan2028TrancheMemberdish:DISHDBSCorporationMember2024-01-012024-09-300001001082dish:With16951710Mhz17551780MhzAnd21552180MhzMember2024-09-300001001082dish:WirelessMember2024-09-300001001082dish:SnrWirelessManagementLLCMember2024-09-300001001082dish:MultichannelVideoDistributionAndDataServiceLicensesMember2024-09-300001001082dish:Licenses700MHzMember2024-09-300001001082dish:Licenses600MhzMember2024-09-300001001082dish:Licenses35503650MhzMember2024-09-300001001082dish:Licenses3.453.55GhzBandMember2024-09-300001001082dish:HBlockLicensesMember2024-09-300001001082dish:Ghz3739ghzAnd47ghzLicensesMember2024-09-300001001082dish:Ghz3.7To3.98Member2024-09-300001001082dish:Ghz28Member2024-09-300001001082dish:Ghz24Member2024-09-300001001082dish:EchoStarMember2024-09-300001001082dish:DbsLicensesMember2024-09-300001001082dish:CapitalizedInterestMember2024-09-300001001082dish:Aws4LicensesMember2024-09-300001001082dish:Aws3LicensesMember2024-09-300001001082dish:InvidiTechnologiesCorporationMemberus-gaap:OtherNonoperatingIncomeExpenseMember2024-04-012024-06-300001001082dish:EchoStarMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdish:DisposalOf700MhzSpectrumAssetMemberus-gaap:RelatedPartyMember2024-01-012024-09-300001001082us-gaap:OtherIncomeMember2024-01-012024-09-300001001082us-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300001001082dish:WirelessSpectrumLicensesInPuertoRicoAndUsVirginIslandsMember2024-07-012024-09-300001001082us-gaap:EquipmentMember2024-09-300001001082us-gaap:EquipmentMember2023-12-310001001082us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-09-300001001082us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-09-300001001082us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001001082us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001001082dish:InvidiTechnologiesCorporationMember2024-09-300001001082dish:NagraStarLLCMember2017-02-280001001082dish:EchoStarMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdish:DisposalOf700MhzSpectrumAssetMemberus-gaap:RelatedPartyMember2024-03-120001001082dish:SoftwareAndComputerEquipmentMember2024-07-012024-09-300001001082dish:SatellitesMember2024-07-012024-09-300001001082dish:IntangibleAssetsAndOthersMember2024-07-012024-09-300001001082dish:FiveGNetworkDeploymentEquipmentMember2024-07-012024-09-300001001082dish:EquipmentsLeasedToOtherPartyMember2024-07-012024-09-300001001082dish:BuildingFurnitureFixturesOtherEquipmentMember2024-07-012024-09-300001001082dish:SoftwareAndComputerEquipmentMember2024-01-012024-09-300001001082dish:SatellitesMember2024-01-012024-09-300001001082dish:IntangibleAssetsAndOthersMember2024-01-012024-09-300001001082dish:FiveGNetworkDeploymentEquipmentMember2024-01-012024-09-300001001082dish:EquipmentsLeasedToOtherPartyMember2024-01-012024-09-300001001082dish:BuildingFurnitureFixturesOtherEquipmentMember2024-01-012024-09-300001001082dish:SoftwareAndComputerEquipmentMember2023-07-012023-09-300001001082dish:SatellitesMember2023-07-012023-09-300001001082dish:IntangibleAssetsAndOthersMember2023-07-012023-09-300001001082dish:FiveGNetworkDeploymentEquipmentMember2023-07-012023-09-300001001082dish:EquipmentsLeasedToOtherPartyMember2023-07-012023-09-300001001082dish:BuildingFurnitureFixturesOtherEquipmentMember2023-07-012023-09-300001001082dish:SoftwareAndComputerEquipmentMember2023-01-012023-09-300001001082dish:SatellitesMember2023-01-012023-09-300001001082dish:IntangibleAssetsAndOthersMember2023-01-012023-09-300001001082dish:FiveGNetworkDeploymentEquipmentMember2023-01-012023-09-300001001082dish:EquipmentsLeasedToOtherPartyMember2023-01-012023-09-300001001082dish:BuildingFurnitureFixturesOtherEquipmentMember2023-01-012023-09-300001001082dish:EchoStarMember2024-03-310001001082dish:SeniorNotes5.875PercentDue2024Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotesZeroDue2025Member2024-01-012024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Member2024-01-012024-09-300001001082dish:DbsSubscribercoMemberdish:InterestRateFromFinancingClosingDateAndTwelveMonthsThereafterMemberdish:NewDishDbsFinancingTermLoanDue2029Member2024-09-300001001082dish:DbsSubscribercoMemberdish:InterestRateFromFinancingClosingDateAndTwelveMonthsThereafterMemberdish:NewDishDbsFinancingRollUpIncrementalTermLoanMember2024-09-300001001082dish:DbsSubscribercoMemberdish:InterestRateFromFinancingClosingDateAndTwelveMonthsThereafterMemberdish:NewDishDbsFinancingMandatorilyRedeemablePreferredSharesDue2029Member2024-09-300001001082dish:DbsSubscribercoMemberdish:InterestRateForTwelveMonthsAfterFinancingClosingDateMemberdish:NewDishDbsFinancingTermLoanDue2029Member2024-09-300001001082dish:DbsSubscribercoMemberdish:InterestRateForTwelveMonthsAfterFinancingClosingDateMemberdish:NewDishDbsFinancingRollUpIncrementalTermLoanMember2024-09-300001001082dish:DbsSubscribercoMemberdish:InterestRateForTwelveMonthsAfterFinancingClosingDateMemberdish:NewDishDbsFinancingMandatorilyRedeemablePreferredSharesDue2029Member2024-09-300001001082dish:SeniorNotes7.75Due2026Memberdish:DISHDBSCorporationMember2024-09-300001001082dish:SeniorNotes5.750PercentDue2028Memberdish:DISHDBSCorporationMember2024-09-300001001082dish:SeniorNotes5.250PercentDue2026Memberdish:DISHDBSCorporationMember2024-09-300001001082dish:DishNetworkCorporationMemberdish:ConvertibleNotesZeroDue2025Member2024-09-300001001082dish:DishNetworkCorporationMemberdish:ConvertibleNotes3.375PercentDue2026Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SecondLienNotes7.75PercentDue2026Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SecondLienNotes5.375PercentDue2028Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SecondLienNotes5.125PercentDue2029Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:FirstLienNotes5.75PercentDue2028Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:FirstLienNotes5.25PercentDue2026Member2024-09-300001001082dish:SeniorNotes5.750PercentDue2028Member2024-09-300001001082dish:SeniorNotes5.250PercentDue2026Member2024-09-300001001082dish:SeniorNotes11.75PercentDue2027Member2024-09-300001001082dish:ConvertibleNotesZeroDue2025Member2024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Member2024-09-300001001082dish:ConvertibleNotes2.38Due2024Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.875PercentDue2024Member2024-09-290001001082dish:ConvertibleNotes2.38Due2024Member2024-03-150001001082dish:SeniorNotes11.75PercentDue2027Member2023-12-310001001082dish:ConvertibleNotes3.375PercentDue2026Member2023-12-310001001082dish:ConvertibleNotes2.38Due2024Member2023-12-310001001082dish:DishNetworkCorporationMemberdish:ExistingConvertibleNotesMember2024-11-080001001082dish:SeniorSecuredNotes6.75PercentDue2030Member2024-10-100001001082dish:ExchangeNotesMember2024-10-100001001082dish:ConvertibleSecuredNotes3.875PercentDue2030Member2024-10-100001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingTermLoanMember2024-09-300001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotesZeroDue2025Member2020-12-210001001082dish:ConvertibleNotes3.375PercentDue2026Member2016-08-080001001082dish:DISHDBSCorporationMemberdish:SeniorNotes7.75Due2026Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes7.375PercentDue2028Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.875PercentDue2024Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.750PercentDue2028Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.250PercentDue2026Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.125PercentDue2029Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes11.75PercentDue2027Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:MortgageAndOtherNotesPayableMember2024-09-300001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotesZeroDue2025Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotes3.375PercentDue2026Member2024-09-300001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingTermLoanDue2029Member2024-09-300001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingTermLoanDue2025Member2024-09-300001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingMandatorilyRedeemablePreferredSharesDue2029Member2024-09-300001001082dish:LongTermDebtExcludingOtherNotesPayableMember2024-09-300001001082dish:InterCompanyLoanMember2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorNotes7.75Due2026Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:SeniorNotes7.375PercentDue2028Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.875PercentDue2024Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.750PercentDue2028Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.250PercentDue2026Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:SeniorNotes5.125PercentDue2029Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:SeniorNotes11.75PercentDue2027Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:MortgageAndOtherNotesPayableMember2023-12-310001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotesZeroDue2025Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotes3.375PercentDue2026Member2023-12-310001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotes2.38Due2024Member2023-12-310001001082dish:LongTermDebtExcludingOtherNotesPayableMember2023-12-310001001082dish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:WarrantMemberus-gaap:CommonClassAMember2024-01-012024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:WarrantMemberdish:EchoStarMemberus-gaap:CommonClassAMember2024-01-012024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberdish:ConvertibleNoteHedgesMemberus-gaap:CommonClassAMember2024-01-012024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberdish:ConvertibleNoteHedgesMemberdish:EchoStarMember2024-01-012024-09-300001001082dish:CustomerContractMember2024-09-300001001082srt:MinimumMemberdish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:WarrantMemberdish:EchoStarMemberus-gaap:CommonClassAMember2024-09-300001001082srt:MaximumMemberdish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:WarrantMemberdish:EchoStarMemberus-gaap:CommonClassAMember2024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:WarrantMemberus-gaap:CommonClassAMember2024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberdish:ConvertibleNoteHedgesMemberus-gaap:CommonClassAMember2024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberdish:ConvertibleNoteHedgesMemberdish:EchoStarMember2024-09-300001001082dish:ConvertibleNotesZeroDue2025Memberus-gaap:CommonClassAMember2024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:CommonClassAMember2024-09-300001001082us-gaap:OperatingSegmentsMemberdish:RetailWirelessMember2024-09-300001001082us-gaap:OperatingSegmentsMemberdish:PayTvAndBroadbandMember2024-09-300001001082us-gaap:OperatingSegmentsMemberdish:FiveGNetworkDeploymentMember2024-09-300001001082srt:ConsolidationEliminationsMemberdish:AllOtherAndEliminationsMember2024-09-300001001082us-gaap:OperatingSegmentsMemberdish:RetailWirelessMember2023-12-310001001082us-gaap:OperatingSegmentsMemberdish:PayTvAndBroadbandMember2023-12-310001001082us-gaap:OperatingSegmentsMemberdish:FiveGNetworkDeploymentMember2023-12-310001001082srt:ConsolidationEliminationsMemberdish:AllOtherAndEliminationsMember2023-12-3100010010822024-06-3000010010822023-09-3000010010822023-06-3000010010822022-12-310001001082us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001001082us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001001082us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300001001082us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001001082dish:EchoStarMember2023-12-310001001082dish:NorthstarWirelessOrNorthstarSpectrumMemberdish:NorthstarLicensesMember2024-09-300001001082dish:AmericanIIIMemberdish:SNRWirelessOrSNRWirelessHoldcoMember2024-09-300001001082dish:DISHDBSCorporationMemberdish:EchoStarMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberdish:AssetsTransferMember2024-09-300001001082srt:MaximumMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-09-300001001082srt:MaximumMemberus-gaap:CommercialPaperMember2024-01-012024-09-300001001082dish:DISHDBSCorporationMember2024-01-012024-09-300001001082dish:WirelessSpectrumLicensesInPuertoRicoAndUsVirginIslandsMember2024-01-012024-09-300001001082us-gaap:RetainedEarningsMember2024-01-012024-03-310001001082dish:InCaseOfOutstanding2028And2029DbsNotesMemberdish:NewDishDbsFinancingTermLoanMember2024-09-300001001082dish:InCaseOfOutstanding2026DbsNotesAndSecuredNotesAnd2028DbsSecuredNotesMemberdish:NewDishDbsFinancingTermLoanMember2024-09-300001001082us-gaap:IntersegmentEliminationMemberdish:EquipmentSalesAndOtherRevenueMember2024-07-012024-09-300001001082us-gaap:IntersegmentEliminationMemberdish:EquipmentSalesAndOtherRevenueMember2024-01-012024-09-300001001082us-gaap:IntersegmentEliminationMemberdish:EquipmentSalesAndOtherRevenueMember2023-07-012023-09-300001001082us-gaap:IntersegmentEliminationMemberdish:EquipmentSalesAndOtherRevenueMember2023-01-012023-09-300001001082srt:MinimumMemberdish:EchoStarMemberdish:MasterTransactionAgreementMemberdish:TTAndCAgreementMember2024-01-012024-09-300001001082srt:MaximumMemberdish:HughesNetworkSystemsLLCMemberdish:CollocationAndAntennaSpaceAgreementsMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:MasterTransactionAgreementMemberdish:TTAndCAgreementMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:OneZeroZeroInvernessLeaseAgreementMember2017-03-012017-03-310001001082srt:MinimumMemberdish:HughesBroadbandDistributionAgreementMember2012-10-022012-10-020001001082dish:EchoStarMemberdish:RoviLicenseAgreementMember2016-08-192016-08-190001001082dish:EchoStarMemberdish:PriorTelemetryTrackingAndControlAgreementMember2024-01-012024-09-300001001082dish:HughesBroadbandDistributionAgreementMember2012-10-022012-10-020001001082dish:HughesNetworkSystemsLLCMemberdish:HughesEquipmentAndServicesAgreementMember2019-02-012019-02-280001001082dish:EchoStarMemberdish:ElPasoLeaseAgreementMember2024-01-012024-09-300001001082dish:HughesNetworkSystemsLLCMemberdish:CollocationAndAntennaSpaceAgreementsMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:CollocationAndAntennaSpaceAgreementsMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:CheyenneLeaseAgreementMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:InvernessLeaseAgreementMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:TTAndCAgreementMember2021-06-012021-06-300001001082dish:EchoStarMemberdish:ProfessionalServicesAgreementMember2024-01-012024-09-300001001082dish:EchoStarMemberdish:TaxSharingAgreementMember2024-09-300001001082dish:HughesBroadbandMasterServicesAgreementMember2024-07-012024-09-300001001082dish:HughesBroadbandMasterServicesAgreementMember2024-01-012024-09-300001001082dish:HughesBroadbandMasterServicesAgreementMember2023-07-012023-09-300001001082dish:HughesBroadbandMasterServicesAgreementMember2023-01-012023-09-300001001082dish:DISHDBSCorporationMemberdish:ConvertibleNotes2.38Due2024Member2024-03-152024-03-150001001082dish:DISHDBSCorporationMember2024-09-292024-09-290001001082dish:Mhz700LicensesAndAws4LicensesMembersrt:MinimumMember2023-09-292023-09-290001001082us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberdish:Aws3LicensesMember2024-01-012024-09-300001001082dish:NorthstarWirelessOrNorthstarSpectrumMemberdish:SNRLicensesMember2015-08-182015-08-180001001082dish:EchoStarMemberdish:PatentCrossLicenseAgreementsMember2011-12-012011-12-310001001082us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310001001082dish:NagraStarLLCMember2024-09-300001001082dish:SlingTVHoldingLLCMember2024-09-300001001082dish:DishTvMember2024-09-300001001082dish:PayTVSatellitesMember2024-01-012024-09-3000010010822023-09-290001001082dish:SNRWirelessOrSNRWirelessHoldcoMemberdish:SNRLicensesMemberdish:PriorArrangementMember2024-01-012024-09-300001001082dish:NorthstarWirelessOrNorthstarSpectrumMemberdish:PriorArrangementMember2024-01-012024-09-300001001082dish:DbsSubscribercoMember2024-01-012024-09-300001001082dish:NetworkDevelopment5gMember2024-01-012024-09-300001001082dish:WirelessMember2022-06-1400010010822023-09-292023-09-290001001082dish:NorthstarLicensesMemberdish:PriorArrangementMember2024-09-300001001082dish:SNRWirelessOrSNRWirelessHoldcoMember2024-09-3000010010822024-05-022024-05-020001001082dish:WirelessMember2024-01-012024-09-300001001082dish:WirelessMember2021-01-012023-12-310001001082us-gaap:NoncontrollingInterestMember2024-07-012024-09-300001001082us-gaap:NoncontrollingInterestMember2024-04-012024-06-300001001082us-gaap:NoncontrollingInterestMember2024-01-012024-03-310001001082dish:RedeemableNoncontrollingInterestMember2024-01-012024-03-310001001082us-gaap:NoncontrollingInterestMember2023-07-012023-09-300001001082dish:RedeemableNoncontrollingInterestMember2023-07-012023-09-300001001082us-gaap:NoncontrollingInterestMember2023-04-012023-06-300001001082dish:RedeemableNoncontrollingInterestMember2023-04-012023-06-3000010010822023-04-012023-06-300001001082us-gaap:NoncontrollingInterestMember2023-01-012023-03-310001001082dish:RedeemableNoncontrollingInterestMember2023-01-012023-03-3100010010822023-01-012023-03-310001001082dish:CertainOf600MhzLicensesMember2024-01-012024-09-300001001082dish:CertainOf600MhzLicenseAreasMember2024-01-012024-09-300001001082dish:CertainOfOtherMhz700LicensesAws4LicensesHBlockLicensesMember2024-01-012024-09-300001001082dish:CertainOfMhz700LicensesAws4LicensesHBlockLicenseAreasMember2024-01-012024-09-300001001082dish:CertainOfAws3AndSnrLicenseAreasMember2024-01-012024-09-300001001082dish:Mhz700LicensesAndAws4LicensesMember2024-01-012024-09-300001001082dish:Licenses600MhzMember2024-01-012024-09-300001001082dish:HBlockLicensesMember2024-01-012024-09-300001001082dish:CertainOfOtherAws3AndSnrLicensesMember2024-01-012024-09-300001001082us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberdish:OtherDebtSecuritiesNonrestrictedAndRestrictedMember2024-09-300001001082us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberdish:OtherDebtSecuritiesNonrestrictedAndRestrictedMember2024-09-300001001082us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001001082us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001001082us-gaap:FairValueMeasurementsRecurringMemberdish:OtherDebtSecuritiesNonrestrictedAndRestrictedMember2024-09-300001001082us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001001082us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001001082us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001001082us-gaap:FairValueMeasurementsRecurringMember2024-09-300001001082us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberdish:OtherDebtSecuritiesNonrestrictedAndRestrictedMember2023-12-310001001082us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001001082us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperMember2023-12-310001001082us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberdish:OtherDebtSecuritiesNonrestrictedAndRestrictedMember2023-12-310001001082us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001001082us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001001082us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001001082us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperMember2023-12-310001001082us-gaap:FairValueMeasurementsRecurringMemberdish:OtherDebtSecuritiesNonrestrictedAndRestrictedMember2023-12-310001001082us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001001082us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001001082us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001001082us-gaap:FairValueMeasurementsRecurringMember2023-12-310001001082srt:MaximumMember2024-01-012024-09-300001001082dish:SNRWirelessOrSNRWirelessHoldcoMember2024-01-012024-09-300001001082dish:NorthstarWirelessOrNorthstarSpectrumMember2024-01-012024-09-300001001082dish:InterCompanyLoanMember2024-07-012024-09-300001001082dish:ConxCorpMember2024-07-012024-09-300001001082dish:ConxCorpMember2024-01-012024-09-300001001082dish:InterCompanyLoanMember2021-11-012021-11-0100010010822024-01-100001001082dish:EchoStarMember2024-04-010001001082dish:EchoStarMember2024-07-012024-09-300001001082dish:EchoStarMember2024-01-012024-09-300001001082dish:EchoStarMember2023-07-012023-09-300001001082dish:EchoStarMember2023-01-012023-09-300001001082dish:EchoStarMember2024-01-012024-03-310001001082dish:EchoStarMember2024-09-300001001082dish:ConvertibleNotes3.38Due2026Memberus-gaap:SubsequentEventMember2024-11-082024-11-080001001082dish:ConvertibleNotes0Due2025Memberus-gaap:SubsequentEventMember2024-11-082024-11-080001001082dish:DishNetworkCorporationMember2024-01-012024-09-300001001082dish:ConvertibleNotesZeroDue2025Memberus-gaap:CommonClassAMember2024-01-012024-09-300001001082dish:ConvertibleNotes3.375PercentDue2026Memberus-gaap:CommonClassAMember2024-01-012024-09-300001001082dish:SeniorSecuredNotes10.75PercentDue2029Member2024-09-300001001082dish:DISHDBSCorporationMemberdish:SeniorSecuredNotes10.75PercentDue2029Member2024-09-300001001082dish:SeniorSecuredNotes6.75PercentDue2030Memberus-gaap:SubsequentEventMember2024-11-080001001082dish:ExistingConvertibleNotesMemberus-gaap:SubsequentEventMember2024-11-080001001082dish:ExchangeNotesMemberus-gaap:SubsequentEventMember2024-11-080001001082dish:ConvertibleSecuredNotes3.875PercentDue2030Memberus-gaap:SubsequentEventMember2024-11-080001001082dish:ConvertibleNotes3.38Due2026Memberus-gaap:SubsequentEventMember2024-11-080001001082dish:ConvertibleNotes0Due2025Memberus-gaap:SubsequentEventMember2024-11-080001001082dish:DishNetworkCorporationMemberdish:ExistingConvertibleNotesMember2024-10-100001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingMember2024-09-300001001082dish:DbsSubscribercoMemberdish:NewDishDbsFinancingMember2024-09-2900010010822024-07-012024-09-3000010010822023-07-012023-09-300001001082dish:WirelessSpectrumLicensesInPuertoRicoAndUsVirginIslandsMember2024-09-300001001082dish:LibertyAgreementMember2024-09-300001001082dish:NagraStarLLCMember2024-09-300001001082dish:NagraStarLLCMember2023-12-310001001082dish:InterCompanyLoanMember2024-01-012024-09-300001001082dish:VermontNationalTelephoneCompanyMemberdish:NorthstarWirelessOrNorthstarSpectrumMemberdish:Aws3LicensesMember2016-09-232016-09-230001001082dish:SNRWirelessOrSNRWirelessHoldcoMemberdish:SNRLicensesMember2015-08-182015-08-180001001082dish:NorthstarWirelessOrNorthstarSpectrumMemberdish:NorthstarLicensesMember2015-08-182015-08-180001001082dish:ProfessionalServicesAgreementMember2024-01-012024-09-300001001082dish:HughesNetworkSystemsLLCMemberdish:HughesBroadbandMasterServicesAgreementMember2017-03-012017-03-310001001082dish:EchoStarMemberdish:RoviLicenseAgreementMember2024-01-012024-09-300001001082us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-3100010010822024-01-012024-03-310001001082us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-3000010010822024-04-012024-06-3000010010822023-01-012023-09-3000010010822024-09-3000010010822023-12-310001001082dish:WithGhz3.45ToGhz3.55LicensesMember2024-01-012024-09-300001001082dish:EchoStarMember2024-03-0400010010822024-11-0100010010822024-01-012024-09-30xbrli:sharesdish:employeeiso4217:USDxbrli:puredish:persondish:sitedish:itemiso4217:USDxbrli:sharesdish:segment

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024.

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO .

Commission File Number: 001-39144

DISH Network Corporation

(Exact name of registrant as specified in its charter)


Nevada		88-0336997
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

9601 South Meridian Boulevard
Englewood, Colorado		80112
(Address of principal executive offices)		(Zip code)

(303) 723-1000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. (Note: The registrant is a voluntary filer of reports under Section 13 or 15(d) of the Securities Exchange Act of 1934.) Yes ⌧ No ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer ☐		Accelerated filer ☐

Non-accelerated filer ☒		Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of November 1, 2024, the registrant’s outstanding common stock consisted of 1,000 shares of common stock, $0 par value per share.

The registrant meets the conditions set forth in General Instructions (H)(1)(a) and (b) of Form 10-Q and is therefore filing this Form 10-Q with the reduced disclosure format.

Table of Contents

TABLE OF CONTENTS

PART I — FINANCIAL INFORMATION

	Disclosure Regarding Forward-Looking Statements	i

Item 1.	Financial Statements	1

	Condensed Consolidated Balance Sheets	1

	Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)	2

	Condensed Consolidated Statements of Changes in Stockholder’s Equity (Deficit)	3

	Condensed Consolidated Statements of Cash Flows	4

	Notes to Condensed Consolidated Financial Statements	5

Item 2.	Management’s Narrative Analysis of Results of Operations	64

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	*

Item 4.	Controls and Procedures	100

PART II — OTHER INFORMATION

Item 1.	Legal Proceedings	100

Item 1A.	Risk Factors	100

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	*

Item 3.	Defaults Upon Senior Securities	*

Item 4.	Mine Safety Disclosures	None

Item 5.	Other Information	None

Item 6.	Exhibits	104

	Signatures	105

* This item has been omitted pursuant to the reduced disclosure format as set forth in General Instructions (H)(2) of Form 10-Q.

Table of Contents

PART I — FINANCIAL INFORMATION

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

Unless otherwise required by the context, in this report, the words “DISH Network,” “DISH,” the “Company,” “we,” “our” and “us” refer to DISH Network Corporation and its subsidiaries, “EchoStar” refers to EchoStar Corporation, our parent company, and its subsidiaries, including us, and “DISH DBS” and “DDBS” refers to DISH DBS Corporation, our wholly-owned, indirect subsidiary and its subsidiaries.

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, in particular, statements about our plans, objectives and strategies, growth opportunities in our industries and businesses, our expectations regarding future results, financial condition, liquidity and capital requirements, our estimates regarding the impact of regulatory developments and legal proceedings, and other trends and projections. Forward-looking statements are not historical facts and may be identified by words such as “future,” “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “estimate,” “expect,” “predict,” “will,” “would,” “could,” “can,” “may,” and similar terms. These forward-looking statements are based on information available to us as of the date of this Quarterly Report on Form 10-Q and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. Accordingly, actual performance, events or results could differ materially from those expressed or implied in the forward-looking statements due to a number of factors, including, but not limited to, those summarized below:

SUMMARY OF RISK FACTORS

Risks Relating to the DIRECTV Transaction

●

We are subject to a number of risks while the DIRECTV Transaction is pending, which may have an adverse effect on our business, financial condition and results of operations.

Risks Related to the Integration

●

Although we expect that the Merger will result in synergies and other benefits, those synergies and benefits may not be realized in the amounts anticipated, or may not be realized within the expected timeframe, or at all, and risks associated with the foregoing may also result from any extended delay in the Integration.

Competition and Economic Risks

●

We face intense and increasing competition from providers of video, broadband and/or wireless services. Changing consumer behavior and new technologies in our Pay-TV and/or Wireless business may reduce our subscriber activations and may cause our subscribers to purchase fewer services from us or to cancel our services altogether, resulting in less revenue to us.

●

We face certain risks competing in the wireless services industry and operating a facilities-based wireless services business.

●

Our pay-TV competitors may be able to leverage their relationships with programmers to reduce their programming costs and/or offer exclusive content that will place them at a competitive advantage to us.

●

Through the MNSA and the NSA, we depend on T-Mobile and AT&T to provide network services to our Wireless subscribers. Our failure to effectively manage these relationships, including without limitation, our minimum commitments, any system failure in their wireless networks, interruption in the services provided to us, and/or the termination of the MNSA or the NSA could have a material adverse effect on our business, financial condition and results of operations.

Table of Contents

●

We compete with the MNOs whose networks we rely on to provide wireless services to our customers, and they may seek to limit, reduce or terminate our network access to the extent that it becomes competitively advantageous to do so.

●

If we are unable to take advantage of technological developments on a timely basis, or at all, we may experience a decline in demand for our services or face challenges in implementing or evolving our business strategy.

Operational and Service Delivery Risks

●

Any deterioration in our operational performance, subscriber activations and churn rate and subscriber satisfaction could adversely affect our business, financial condition and results of operations.

●

We depend on others to provide the programming that we offer to our Pay-TV subscribers and, if we fail to obtain or lose access to certain programming, our Pay-TV subscriber activations and our subscriber churn rate may be negatively impacted.

●

We have limited satellite capacity and any failures or reduced capacity, caused by, among other things, operational and environmental risks, could adversely affect our business, financial condition and results of operations.

●

Extreme weather may result in risk of damage to our infrastructure and therefore our ability to provide services, and may lead to changes in federal, state and foreign government regulation, all of which could materially and adversely affect our business, results of operations and financial condition.

●

We rely on a single vendor or a limited number of vendors to provide certain key products or services to us, and the inability of these key vendors to meet our needs could have a material adverse effect on our business.

●

We depend on independent third parties to solicit orders for our services that represent a meaningful percentage of our total gross new subscriber activations.

Risks Related to our Human Capital

●

We rely on highly skilled personnel for our business, and any inability to hire and retain key personnel or to hire qualified personnel may negatively affect our business, financial condition and results of operations.

●

Our business growth and customer retention strategies rely in part on the work of technically skilled employees.

Risks Related to our Products and Technology

●

Our business depends on certain intellectual property rights and on not infringing the intellectual property rights of others.

●

We are, and may become, party to various lawsuits which, if adversely decided, could have a significant adverse impact on our business, particularly lawsuits regarding intellectual property.

●

If our products contain defects, we could be subject to significant costs to correct such defects and our product and network service contracts could be delayed or cancelled, which could adversely affect our revenue.

Risks Related to Cybersecurity

●

We have experienced and may experience in the future consistent cyber-attacks and attempts to gain unauthorized access to our systems and any failure or inadequacy of our information technology infrastructure and communications systems or those of third parties that we use in our operations could disrupt or harm our business.

●

The confidentiality, integrity, and availability of our services and products depends on the continuing operation of our information technology and other enabling systems.

Table of Contents

Acquisition and Capital Structure Risks

●

We have substantial debt outstanding and may incur additional debt and covenants in our Indentures could limit our ability to undertake certain types of activities and adversely affect our liquidity.

●

We may pursue acquisitions, dispositions, capital expenditures, the development, acquisition and launch of new satellites and other strategic initiatives to complement or expand our business, which may not be successful and we may lose a portion or all of our investment in these acquisitions and transactions.

●

We have made substantial investments to acquire certain wireless spectrum licenses and other related assets, and may be unable to realize a return on these assets.

●

We may need additional capital, which may not be available on favorable terms, to fund current obligations, to continue investing in our business and to finance acquisitions and other strategic transactions.

●

Our parent, EchoStar, is controlled by one principal stockholder, who is also our Chairman.

Risks Related to the Regulation of Our Business

●

Our services depend on FCC licenses that can expire or be revoked or modified and applications for FCC licenses that may not be granted.

Other factors that could cause or contribute to such differences include, but are not limited to, those discussed under the caption “Risk Factors” in Part II, Item 1A of this Quarterly Report on Form 10-Q and in Part I, Item 1A of our most recent Annual Report on Form 10-K (the “10-K”) filed with the SEC, those discussed in “Management’s Narrative Analysis of Results of Operations” herein and in the 10-K and those discussed in other documents we file with the SEC. All cautionary statements made or referred to herein should be read as being applicable to all forward-looking statements wherever they appear. Investors should consider the risks and uncertainties described or referred to herein and should not place undue reliance on any forward-looking statements. The forward-looking statements speak only as of the date made, and we expressly disclaim any obligation to update these forward-looking statements.

iii

Table of Contents

Item 1. FINANCIAL STATEMENTS

DISH NETWORK CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share amounts)

(Unaudited)


	As of
	September 30,		December 31,
	2024		2023
Assets
Current Assets:
Cash and cash equivalents	$	378,575	$	373,641
Current restricted cash and cash equivalents		2,047,489		—
Marketable investment securities		172		8,122
Trade accounts receivable, net of allowance for credit losses of $67,064 and $53,991, respectively (Note 12)		859,378		890,333
Inventory		268,653		497,058
Prepaids and other assets		578,980		572,199
Other current assets		38,065		2,308
Total current assets		4,171,312		2,343,661

Noncurrent Assets:
Restricted cash, cash equivalents and marketable investment securities		125,413		108,879
Property and equipment, net		7,257,621		7,401,947
Regulatory authorizations, net		30,592,886		38,114,249
Other investments, net		64,327		168,825
Operating lease assets		3,030,380		2,934,862
Intangible assets, net		67,394		159,490
Other noncurrent assets, net		260,684		181,118
Total noncurrent assets		41,398,705		49,069,370
Total assets	$	45,570,017	$	51,413,031

Liabilities and Stockholder's Equity (Deficit)
Current Liabilities:
Trade accounts payable	$	678,347	$	673,291
Deferred revenue and other		570,886		638,471
Accrued programming		1,499,375		1,427,762
Accrued interest		390,466		258,603
DISH 2021 Intercompany Loan 2026 Tranche - Interest payable in cash (Note 8)		87,400		—
Other accrued expenses and liabilities		1,545,790		1,552,610
Current portion of debt, finance lease and other obligations (Note 8)		2,513,226		3,041,429
Total current liabilities		7,285,490		7,592,166

Long-Term Obligations, Net of Current Portion:
Long-term debt, finance lease and other obligations, net of current portion (Note 8)		20,032,711		18,178,288
DISH 2021 Intercompany Loan 2026 Tranche (Note 8)		4,767,289		—
Deferred tax liabilities, net		8,270,093		4,557,262
Operating lease liabilities		2,999,747		2,992,863
Long-term deferred revenue and other long-term liabilities		915,122		861,896
Total long-term obligations, net of current portion		36,984,962		26,590,309
Total liabilities		44,270,452		34,182,475

Commitments and Contingencies (Note 9)

Redeemable noncontrolling interests (Note 2)		—		438,382

Stockholder's Equity (Deficit):
Common stock, $0 par value, 1,000 shares authorized, 1,000 shares issued and outstanding
Additional paid-in capital		1,420,792		4,916,120
Accumulated other comprehensive income (loss)		(2,403)		(2,676)
Accumulated earnings (deficit)		(562,851)		11,876,627
Total DISH Network stockholder's equity (deficit)		855,538		16,790,071
Noncontrolling interests		444,027		2,103
Total stockholder's equity (deficit)		1,299,565		16,792,174
Total liabilities and stockholder's equity (deficit)	$	45,570,017	$	51,413,031

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

DISH NETWORK CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

(Dollars in thousands, except per share amounts)

(Unaudited)


	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Revenue:				.
Service revenue	$	3,380,913	$	3,590,581	$	10,329,859	$	11,126,777
Equipment sales and other revenue		134,404		113,935		393,617		446,298
Total revenue		3,515,317		3,704,516		10,723,476		11,573,075

Costs and Expenses (exclusive of depreciation and amortization):
Cost of services		2,415,552		2,238,216		7,226,180		6,831,393
Cost of sales - equipment and other		319,564		570,688		956,918		1,569,159
Selling, general and administrative expenses		540,502		642,621		1,548,287		1,878,068
Depreciation and amortization		364,199		294,797		1,122,383		806,504
Total costs and expenses		3,639,817		3,746,322		10,853,768		11,085,124

Operating income (loss)		(124,500)		(41,806)		(130,292)		487,951

Other Income (Expense):
Interest income		8,627		18,649		31,794		90,907
Interest expense, net of amounts capitalized		(160,625)		(10,173)		(495,821)		(27,379)
Other, net (Note 4)		18,019		(151,497)		80,884		(120,726)
Total other income (expense)		(133,979)		(143,021)		(383,143)		(57,198)

Income (loss) before income taxes		(258,479)		(184,827)		(513,435)		430,753
Income tax (provision) benefit, net		47,971		67,988		80,872		(81,930)
Net income (loss)		(210,508)		(116,839)		(432,563)		348,823
Less: Net income (loss) attributable to noncontrolling interests, net of tax		15		22,346		3,688		64,980
Net income (loss) attributable to DISH Network	$	(210,523)	$	(139,185)	$	(436,251)	$	283,843

Comprehensive Income (Loss):
Net income (loss)	$	(210,508)	$	(116,839)	$	(432,563)	$	348,823
Other comprehensive income (loss):
Foreign currency translation adjustments		(125)		573		(138)		1,303
Unrealized holding gains (losses) on available-for-sale debt securities		53		(230)		1,792		(200)
Recognition of previously unrealized (gains) losses on available-for-sale securities included in net income (loss)		(9)		230		(1,758)		231
Deferred income tax (expense) benefit, net		(2)		(199)		(3)		(358)
Total other comprehensive income (loss), net of tax		(83)		374		(107)		976
Comprehensive income (loss)		(210,591)		(116,465)		(432,670)		349,799
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax		15		22,346		3,688		64,980
Comprehensive income (loss) attributable to DISH Network	$	(210,606)	$	(138,811)	$	(436,358)	$	284,819

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

DISH NETWORK CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER’S EQUITY (DEFICIT)

(In thousands)

(Unaudited)


					Accumulated
	Class A and B		Additional		Other		Accumulated						Redeemable
	Common		Paid-In		Comprehensive		Earnings		Noncontrolling				Noncontrolling
	Stock		Capital		Income (Loss)		(Deficit)		Interests		Total		Interests
Balance, December 31, 2022	$	5,311	$	4,851,392	$	(3,029)	$	13,088,850	$	1,757	$	17,944,281	$	464,359
Issuance of Class A common stock		4		2,863		—		—		—		2,867		—
Non-cash, stock-based compensation		—		12,037		—		—		—		12,037		—
Other comprehensive income (loss)		—		—		481		—		—		481		—
Net income (loss) attributable to noncontrolling interests		—		—		—		—		127		127		20,405
Net income (loss) attributable to DISH Network		—		—		—		222,705		—		222,705		—
Balance, March 31, 2023	$	5,315	$	4,866,292	$	(2,548)	$	13,311,555	$	1,884	$	18,182,498	$	484,764
Issuance of Class A common stock		23		17,934		—		—		—		17,957		—
Non-cash, stock-based compensation		—		9,894		—		—		—		9,894		—
Other comprehensive income (loss)		—		—		121		—		—		121		—
Net income (loss) attributable to noncontrolling interests		—		—		—		—		79		79		22,023
Net income (loss) attributable to DISH Network		—		—		—		200,323		—		200,323		—
Balance, June 30, 2023	$	5,338	$	4,894,120	$	(2,427)	$	13,511,878	$	1,963	$	18,410,872	$	506,787
Issuance of Class A common stock		5		2,468		—		—		—		2,473		—
Non-cash, stock-based compensation		—		7,557		—		—		—		7,557		—
Other comprehensive income (loss)		—		—		374		—		—		374		—
Net income (loss) attributable to noncontrolling interests		—		—		—		—		80		80		22,266
Net income (loss) attributable to DISH Network		—		—		—		(139,185)		—		(139,185)		—
Balance, September 30, 2023	$	5,343	$	4,904,145	$	(2,053)	$	13,372,693	$	2,043	$	18,282,171	$	529,053


					Accumulated
			Additional		Other		Accumulated						Redeemable
	Common		Paid-In		Comprehensive		Earnings		Noncontrolling				Noncontrolling
	Stock		Capital		Income (Loss)		(Deficit)		Interests		Total		Interests
Balance, December 31, 2023	$	—	$	4,916,120	$	(2,676)	$	11,876,627	$	2,103	$	16,792,174	$	438,382
Non-cash, stock-based compensation		—		6,115		—		—		—		6,115		—
Other comprehensive income (loss) and other		—		(62)		17		—		—		(45)		—
Asset Transfer to EchoStar, including deferred taxes of $3,775,370		—		(3,775,370)		380		(12,003,227)		(146)		(15,778,363)		—
Sale of Assets to EchoStar, net of deferred taxes of $3,857		—		5,513		—		—		—		5,513		—
700 MHz Spectrum Sale to EchoStar, net of deferred taxes of $37,681		—		114,831		—		—		—		114,831		—
Conversion of outstanding redeemable noncontrolling interest in SNR HoldCo to noncontrolling interest		—		—		—		—		441,998		441,998		(441,998)
Net income (loss) attributable to noncontrolling interests		—		—		—		—		32		32		3,616
Net income (loss) attributable to DISH Network		—		—		—		(13,879)		—		(13,879)		—
Balance, March 31, 2024	$	—	$	1,267,147	$	(2,279)	$	(140,479)	$	443,987	$	1,568,376	$	—
Non-cash, stock-based compensation		—		6,923		—		—		—		6,923		—
Other comprehensive income (loss)		—		—		(41)		—		—		(41)		—
Orbital II Transfer from EchoStar		—		140,510		—		—		—		140,510		—
Net income (loss) attributable to noncontrolling interests		—		—		—		—		25		25		—
Net income (loss) attributable to DISH Network		—		—		—		(211,849)		—		(211,849)		—
Balance, June 30, 2024	$	—	$	1,414,580	$	(2,320)	$	(352,328)	$	444,012	$	1,503,944	$	—
Non-cash, stock-based compensation		—		6,212		—		—		—		6,212		—
Other comprehensive income (loss)		—		—		(83)		—		—		(83)		—
Net income (loss) attributable to noncontrolling interests		—		—		—		—		15		15		—
Net income (loss) attributable to DISH Network		—		—		—		(210,523)		—		(210,523)		—
Balance, September 30, 2024	$	—	$	1,420,792	$	(2,403)	$	(562,851)	$	444,027	$	1,299,565	$	—

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

DISH NETWORK CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)


	For the Nine Months Ended
	September 30,
	2024		2023
Cash Flows From Operating Activities:
Net income (loss)	$	(432,563)	$	348,823
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization		1,122,383		806,504
Realized and unrealized losses (gains) on investments, impairments and other		922		(73,998)
Realized and unrealized losses (gains) on derivatives		—		192,107
Realized losses (gains) on Sale of Assets to EchoStar (Note 1)		(128,788)		—
Liberty Puerto Rico Asset Sale losses (gains) (Note 9)		(21,310)		—
Non-cash, stock-based compensation		19,250		29,488
Deferred tax expense (benefit)		(104,080)		95,526
Equity in (earnings) losses of affiliates		68,257		3,596
Changes in allowance for credit losses		13,073		7,275
Change in long-term deferred revenue and other long-term liabilities		88,123		18,786
Other, net		101,679		126,041
Changes in current assets and current liabilities, net		147,544		163,948
Net cash flows from operating activities		874,490		1,718,096

Cash Flows From Investing Activities:
Purchases of marketable investment securities		(17,987)		(1,368,964)
Sales and maturities of marketable investment securities		34,118		1,942,010
Purchases of property and equipment (Note 6)		(977,141)		(2,326,883)
Capitalized interest related to regulatory authorizations (Note 2)		(491,094)		(747,743)
Purchases of regulatory authorizations, including deposits		(1,104)		(1,802)
Sale of Assets to EchoStar (Note 1)		245,800		—
700 MHz Spectrum Sale to EchoStar (Note 1)		1,036,500		—
Liberty Puerto Rico Asset Sale (Note 9)		95,435		—
Other, net (Note 6)		(36,429)		5,115
Net cash flows from investing activities		(111,902)		(2,498,267)

Cash Flows From Financing Activities:
Repayment of long-term debt, finance lease and other obligations		(97,205)		(95,789)
Redemption and repurchases of convertible and senior notes		(951,170)		(1,634,084)
Proceeds from issuance of senior notes		—		1,500,000
Debt issuance costs and debt (discount) premium		—		21,635
Proceeds from New DISH DBS Financing (Note 9)		2,500,000		—
Debt issuance costs and debt (discount) premium from New DISH DBS Financing		(136,208)		—
Early debt extinguishment gains (losses) of convertible and senior notes		—		72,566
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan		—		8,617
Other, net		(61)		(4,670)
Net cash flows from financing activities		1,315,356		(131,725)

Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents		2,077,944		(911,896)
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 4)		462,748		1,847,981
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 4)	$	2,540,692	$	936,085

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.Organization and Business Activities

Principal Business

DISH Network Corporation is a holding company. Its subsidiaries (which together with DISH Network Corporation are referred to as “DISH Network,” the “Company,” “we,” “us” and/or “our,” unless otherwise required by the context) operate three primary business segments. DISH Network is a wholly-owned subsidiary of EchoStar Corporation (“EchoStar”), a publicly traded company listed on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “SATS.”

Recent Developments

DIRECTV Transaction

On September 29, 2024, EchoStar and DIRECTV Holdings, LLC (“DTV”), entered into an Equity Purchase Agreement (the “Purchase Agreement”). Pursuant to the terms and subject to the conditions set forth in the Purchase Agreement, DTV agreed to acquire from us all of the issued and outstanding equity interests of DISH DBS Corporation (“DISH DBS”), which operates our Pay-TV business (the “Business” and such acquisition of the Business the “DIRECTV Transaction”). Prior to the closing of the DIRECTV Transaction (the “DIRECTV Closing”), we will complete the Pre-Closing Restructuring, as defined in the Purchase Agreement, and the Pre-Closing Reorganization, as defined in the Purchase Agreement, following which, among other things, DISH DBS will hold all of the properties, rights, assets and liabilities primarily related to the Business, except for certain excluded assets and excluded liabilities.

During the period between signing of the Purchase Agreement and the DIRECTV Closing, DISH DBS and its subsidiaries are not permitted to declare or pay dividends or otherwise cause or permit any leakage (which includes, among other things, cash payments and certain other value transfers by DISH DBS and its subsidiaries, on the one hand, to us or certain other related persons, on the other hand), other than (i) certain permitted cash transfers prior to September 30, 2025 in an aggregate amount not to exceed the permitted cash transfer cap set forth in the Purchase Agreement, and (ii) certain permitted tax sharing payments, in each case, on terms and conditions as set forth in the Purchase Agreement. The permitted cash transfer cap is initially equal to $1.52 billion, calculated in accordance with the Purchase Agreement, (“Permitted Transfer Cap”) and is subject to certain adjustments set forth in the Purchase Agreement, including transaction expenses and certain accrued interest adjustments and adjustments tied to certain key performance indicators.

As set forth in the Reorganization Plan, immediately prior to the DIRECTV Closing, DISH DBS will distribute the DISH 2021 Intercompany Loan 2028 Tranche (see Note 8) to our seller subsidiary. At the DIRECTV Closing, our seller subsidiary will sell and transfer to DTV all of the issued and outstanding equity interests of DISH DBS in exchange for a total cash purchase price of $1.00 plus the assumption of net debt of DISH DBS and its subsidiaries that is outstanding as of the DIRECTV Closing. Additionally, effective with the DIRECTV Closing, certain other intercompany amounts between DISH DBS and us (in addition to the DISH 2021 Intercompany Loan 2028 Tranche) will be subject to cancellation.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

As of September 30, 2024, the balance of the DISH DBS intercompany receivables for the DISH 2021 Intercompany Loan 2028 Tranche and other intercompany amounts totaled $4.606 billion, not including Permitted Transfer Cap receivables of up to $1.52 billion and certain other amounts of residual capital remaining based on performance. Upon the completion of the DIRECTV Transaction, DISH DBS will become a direct and wholly-owned subsidiary of DTV.

Completion of the DIRECTV Transaction is subject to satisfaction or waiver of closing conditions set forth in the Purchase Agreement, including, but not limited to, the receipt of governmental approvals and the success of the DISH DBS Exchange Offers, as detailed and defined in Note 8. The DISH DBS Exchange Offers expired at 5:00 p.m., New York City time on November 12, 2024, and the DISH DBS Exchange Offers have been terminated due to the failure to satisfy the Minimum Series Exchange Condition and the Acquisition Consent Threshold Condition, each as defined in the Exchange Offering Memorandum (defined herein). Pursuant to the terms of the Purchase Agreement, DIRECTV may terminate the Purchase Agreement by November 22, 2024 due to the failure to consummate the DISH DBS Exchange Offers by November 12, 2024 or the failure to satisfy the Acquisition Consent Threshold Condition.

Sale and Transfer of Assets

In accordance with Accounting Standards Codification 805-50 Business Combinations – Related Issues, for transactions among entities under common control, generally the assets transferred and/or sold are recorded at the net carrying value of the assets. The difference between the net carrying value and the fair value of the assets transferred and/or sold is recorded in “Additional paid-in capital” or “Accumulated earnings (deficit)” on our Condensed Consolidated Balance Sheets. If an asset transferred and/or sold among entities under common control is determined to be a financial asset, any gain or loss on the sale of the financial asset is recorded in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). All transactions detailed below are transactions among entities under common control.

Sale of Assets to EchoStar. On January 10, 2024, we sold certain assets and equity interests to EchoStar, which included the sale of a financial asset (the “Sale of Assets to EchoStar”), for fair value of approximately $246 million. The difference between our net carrying value of the assets sold to their fair value was $138 million, of which $6 million, net of deferred tax, was recorded in “Additional paid-in capital” on our Condensed Consolidated Balance Sheets as of September 30, 2024 and a $129 million gain related to the financial asset was recorded in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the nine months ended September 30, 2024.

Asset Transfer to EchoStar. On January 10, 2024, we transferred our wholly-owned subsidiaries that hold certain assets, including the EchoStar XXV satellite currently under construction, and our wireless spectrum licenses, including AWS-4, H-Block, CBRS (3550-3650 MHz), C-Band – Cheyenne (3.7-3.98 GHz), 12GHz (MVDDS), LMDS, 24 GHz, 28 GHz, 37GHz, 39GHz and 47GHz to EchoStar Wireless Holding L.L.C., a direct wholly-owned subsidiary of our parent, EchoStar (together with the “Intercompany Loan 2026 Tranche” defined below, the “Asset Transfer to EchoStar”). In addition, DISH DBS, in its capacity as “Lender” under the terms of the Loan and Security Agreement related to the Intercompany Loan between DISH Network and DISH DBS, has consummated the assignment pursuant to such terms, without any modification or amendment thereto, of its receivable in respect to the 2026 Tranche of $4.7 billion (the “Intercompany Loan 2026 Tranche”) to DBS Intercompany Receivable L.L.C. DBS Intercompany Receivable L.L.C. has subsequently assigned its rights as lender thereunder to EchoStar Intercompany Receivable Company L.L.C., our parent, EchoStar’s direct wholly-owned subsidiary, such that amounts owed in respect of the 2026 Tranche will now be paid by us to EchoStar Intercompany Receivable L.L.C.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

The transferred amount equals our historical net carrying value of these assets, which was $12.003 billion with the offset recorded as a dividend in “Accumulated earnings (deficit)” on our Condensed Consolidated Balance Sheets as of September 30, 2024.

Tax Associated with the Asset Transfer to EchoStar. During the nine months ended September 30, 2024, we recorded $3.775 billion in “Deferred tax liabilities, net” on our Condensed Consolidated Balance Sheets resulting from the step up in basis due to the difference in the fair value compared to the book value of the Asset Transfer to EchoStar, with the offset recorded in “Additional paid-in capital” on our Condensed Consolidated Balance Sheets.

700 MHz Spectrum Sale to EchoStar. On March 12, 2024, we sold our wholly-owned subsidiary which holds the 700 MHz spectrum to a wholly-owned subsidiary of our parent, EchoStar (the “700 MHz Spectrum Sale to EchoStar”), for fair value of approximately $1.037 billion. The difference between our net carrying value of the assets sold to their fair value of $115 million, net of deferred tax, was recorded in “Additional paid-in capital” on our Condensed Consolidated Balance Sheets as of September 30, 2024. The proceeds were used to pay the remaining balance of $951 million on our 2 3/8% Convertible Note which matured on March 15, 2024.

The Sale of Assets to EchoStar, Asset Transfer to EchoStar and 700 MHz Spectrum Sale to EchoStar together are referred to as (the “Sale and Transfer of Assets to EchoStar”).

Orbital II Transfer from EchoStar. On May 2, 2024, EchoStar transferred certain assets to us, including the EchoStar XXV satellite currently under construction. The transferred amount equals our historical net carrying value of these assets, which was $141 million with the offset recorded as a capital contribution in “Additional paid-in capital” on our Condensed Consolidated Balance Sheets as of September 30, 2024.

Merger with EchoStar

On December 31, 2023, EchoStar completed the acquisition of DISH Network pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of October 2, 2023 (the “Amended Merger Agreement”), by and among EchoStar, EAV Corp., a Nevada corporation and its wholly owned subsidiary (“Merger Sub”), and DISH Network, pursuant to which EchoStar acquired DISH Network by means of the merger of Merger Sub with and into DISH Network (the “Merger”), with DISH Network surviving the Merger as EchoStar’s wholly owned subsidiary. For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.

With the Merger complete, we are currently focused on the process of integrating our and EchoStar’s business in a manner that facilitates synergies, cost savings, growth opportunities and achieves other anticipated benefits (the “Integration”).

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Future Capital Requirements

The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

During the third quarter of 2024 and through the issuance date of these condensed consolidated financial statements we and our parent EchoStar completed several financing transactions, including, but not limited to, our issuance of $2.5 billion (including $136 million of debt issuance costs) of New DISH DBS Financing, as detailed and defined in Note 8, which includes $2.047 billion of funds required to be used for the redemption, repayment or repurchase of the principal balance and remaining interest outstanding on our 5 7/8% Senior Notes due November 15, 2024, and our parent, EchoStar’s (i) issuance of $5.356 billion (including $156 million issuable in kind as discounts and commitment and/or backstop premiums) of new EchoStar 10 3/4% Senior Secured Notes due 2029, and (ii) closing of a PIPE investment for an aggregate cash purchase price of approximately $400 million. For further information on our parent, EchoStar’s, financing transactions refer to EchoStar’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.

As a result of these transactions, our parent, EchoStar, committed to providing us with sufficient funds necessary to meet our obligations through one year from the date of filing these condensed consolidated financial statements. Accordingly, substantial doubt no longer exists about our ability to continue as a going concern.

Our cash and cash equivalents, current restricted cash and cash equivalents, and marketable investment securities totaled $2.426 billion as of September 30, 2024 (“Cash on Hand”) and we will fund the $1.983 billion of debt maturing in November 2024 from Cash on Hand.

Segments

We currently operate three primary business segments: (1) Pay-TV; (2) Retail Wireless and (3) 5G Network Deployment.

Pay-TV

We offer pay-TV services under the DISH® brand and the SLING® brand (collectively “Pay-TV” services). The DISH branded pay-TV service consists of, among other things, Federal Communications Commission (“FCC”) licenses authorizing us to use direct broadcast satellite (“DBS”) and Fixed Satellite Service (“FSS”) spectrum, our owned and leased satellites, receiver systems, broadcast operations, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in our operations (“DISH TV”). We also design, develop and distribute receiver systems and provide digital broadcast operations, including satellite uplinking/downlinking, transmission and other services to third-party pay-TV providers. The SLING branded pay-TV services consist of, among other things, multichannel, live-linear and on-demand streaming over-the-top (“OTT”) Internet-based domestic, international, Latino and Freestream video programming services (“SLING TV”). As of September 30, 2024, we had 8.031 million Pay-TV subscribers in the United States, including 5.888 million DISH TV subscribers and 2.143 million SLING TV subscribers.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Retail Wireless

We offer nationwide prepaid and postpaid retail wireless services to subscribers primarily under our Boost Mobile® and Gen Mobile® brands (“Retail Wireless” services), as well as a competitive portfolio of wireless devices. Prepaid wireless subscribers generally pay in advance for monthly access to wireless talk, text and data services. Postpaid wireless subscribers are qualified to pay after receiving wireless talk, text and data services, and may also qualify for certain device financing arrangements.

We are currently operating our Retail Wireless segment primarily as a mobile virtual network operator (“MVNO”) as we continue our 5G Network Deployment and commercialize and grow customer traffic on our 5G Network, as defined below. We are transitioning our Retail Wireless segment to a mobile network operator (“MNO”) as our 5G Network has become commercially available and we grow customer traffic on our 5G Network. We are currently activating Boost Mobile subscribers with compatible devices onto our 5G Network in markets where we have reached voice over new radio (“VoNR”). We have deployed 5G VoNR covering over 200 million Americans. Within our MVNO operations, today we depend on T-Mobile and AT&T to provide us with network services under the amended Master Network Services Agreement (“MNSA”) and Network Services Agreement (the “NSA”), respectively. As of September 30, 2024, we had 6.984 million Wireless subscribers.

5G Network Deployment

We initially invested a total of over $30 billion in Wireless spectrum licenses, and a portion of these licenses were included in the Sale and Transfer of Assets to EchoStar. We currently have $24 billion of investments related to Wireless spectrum licenses, which does not include $7 billion of capitalized interest related to the carrying value of such licenses. See Note 1, Note 2 and Note 9 for further information. We plan to commercialize our Wireless spectrum licenses through the completion of the nation’s first cloud-native, Open Radio Access Network (“O-RAN”) based 5G network (our “5G Network Deployment”). We have committed to deploy a facilities-based 5G broadband network (our “5G Network”) capable of serving increasingly larger portions of the U.S. population at different deadlines.

We may need to raise additional capital in the future, which may not be available on favorable terms, to fund the efforts described below, as well as, among other things, make any potential Northstar Re-Auction Payment and SNR Re-Auction Payment for the AWS-3 licenses retained by the FCC. There can be no assurance that we will be able to complete all build-out requirements or profitably deploy our Wireless spectrum licenses, which may affect the carrying amount of these assets and our future financial condition or results of operations. See Note 9 for further information.

Our Wireless spectrum licenses are subject to certain interim and final build-out requirements, as well as certain renewal requirements. On September 29, 2023, the FCC confirmed we have met all of our June 14, 2023 band-specific 5G deployment commitments, and two of our three nationwide 5G commitments. The single remaining 5G commitment, that at least 70% of the U.S. population has access to average download speeds equal to 35 Mbps, was achieved in March 2024 using the drive test methodology previously agreed upon by us and the FCC and overseen by an independent monitor. We currently have the largest commercial deployment of 5G VoNR in the world covering over 200 million Americans and 5G broadband service covering over 250 million Americans.

In September 2024, the FCC conditionally granted our requests to extend the 5G deployment deadlines for certain of our licenses based on several commitments, as detailed in Note 9.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

We may need to make significant additional investments or partner with others to, among other things, continue our 5G Network Deployment and further commercialize, build-out and integrate these licenses and related assets and any additional acquired licenses and related assets, as well as to comply with regulations applicable to such licenses. Depending on the nature and scope of such activities, any such investments or partnerships could vary significantly. In addition, as we continue our 5G Network Deployment, we have and may continue to incur significant additional expenses related to, among other things, research and development, wireless testing and ongoing upgrades to the wireless network infrastructure, software and third-party integration. As a result of these investments, among other factors, we may need to raise additional capital, which may not be available on favorable terms. We may also determine that additional wireless spectrum licenses may be required for our 5G Network Deployment and to compete effectively with other wireless service providers.

2.Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these statements do not include all of the information and notes required for complete financial statements prepared under GAAP. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Our results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the full year.

For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. Certain prior period amounts have been reclassified to conform to the current period presentation.

“Cost of services.” Historically, as we built-out our 5G Network, certain direct costs related to our 5G Network Deployment, including lease expense on communication towers, transport, cloud services and other costs, were presented within “Cost of sales – equipment and other” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) as our 5G Network service had not commenced. As we have commenced utilizing our 5G Network for commercial traffic, such amounts now represent costs of operating our 5G Network and are, beginning on January 1, 2024, presented within the “Cost of services” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The change has no impact on net income. For the three and nine months ended September 30, 2023, the direct costs related to our 5G Network Deployment included within the “Cost of sales – equipment and other” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) were $261 million and $671 million, respectively.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Principles of Consolidation

We consolidate all majority owned subsidiaries, investments in entities in which we have controlling influence and VIEs where we have been determined to be the primary beneficiary. Minority interests are recorded as noncontrolling interests or redeemable noncontrolling interests. See below for further information. Non-consolidated investments are accounted for using the equity method when we have the ability to significantly influence the operating decisions of the investee. When we do not have the ability to significantly influence the operating decisions of an investee, these equity securities are classified as either marketable investment securities or other investments, which will be initially recorded at cost, and based on observable market prices, will be adjusted to their fair value. We record fair value adjustments in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation.

Redeemable Noncontrolling Interests

Northstar Wireless. Northstar Wireless, L.L.C. (“Northstar Wireless”) is a wholly-owned subsidiary of Northstar Spectrum, LLC (“Northstar Spectrum”), which is an entity wholly-owned by us and, prior to October 12, 2023, by us and Northstar Manager, LLC (“NorthStar Manager”). On October 12, 2023, the FCC consented to the sale of Northstar Manager’s ownership interests in Northstar Spectrum, which we purchased for a total of approximately $109 million. This purchase resulted in the elimination of all of our redeemable noncontrolling interest as it related to Northstar Spectrum as of the purchase date and we continue to consolidate the Northstar Entities as wholly-owned subsidiaries.

SNR Wireless. SNR Wireless LicenseCo, LLC (“SNR Wireless”) is a wholly-owned subsidiary of SNR Wireless HoldCo, LLC (“SNR HoldCo”), which is an entity owned by us and our parent’s direct wholly-owned subsidiary, EchoStar SNR Holdco L.L.C. and, prior to February 16, 2024, by us and SNR Wireless Management, LLC (“SNR Management”). On February 16, 2024, the FCC consented to the sale of SNR Management’s ownership interests in SNR HoldCo, which was purchased by EchoStar SNR HoldCo L.L.C. for a total of approximately $442 million. This purchase resulted in the conversion of our outstanding redeemable noncontrolling interest as it relates to SNR HoldCo to noncontrolling interest, which is now held by our parent, EchoStar, as of the purchase date and we continue to consolidate the SNR Entities into our financial statements.

For further information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Use of Estimates

The preparation of financial statements in conformity with GAAP requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense for each reporting period. Estimates are based on historical experience, observable market inputs, and other reasonable assumptions in accounting for, among other things, allowances for credit losses (including those related to our installment billing programs), self-insurance obligations, deferred taxes and related valuation allowances, uncertain tax positions, loss contingencies, fair value of financial instruments, fair value of options granted under EchoStar’s stock-based compensation plans, fair value of assets and liabilities acquired in business combinations, inputs used to recognize revenue over time, including the relative standalone selling prices of performance obligations, finance leases, asset impairments, estimates of future cash flows used to evaluate and recognize impairments, useful lives of property, equipment and intangible assets, incremental borrowing rate (“IBR”) on lease right of use assets, nonrefundable upfront fees, independent third-party retailer incentives, programming expenses, subscriber lives and likelihood of certain contingent events. Economic conditions may increase the inherent uncertainty in the estimates and assumptions indicated above. Actual results may differ from previously estimated amounts, and such differences may be material to our condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected prospectively in the period they occur.

Capitalized Interest

We capitalize interest associated with the acquisition or construction of certain assets, including, among other things, our Wireless spectrum licenses, build-out costs associated with our 5G Network Deployment and satellites. Capitalization of interest begins when, among other things, steps are taken to prepare the asset for its intended use and ceases when the asset is ready for its intended use or when these activities are substantially suspended.

We are currently commercializing our 5G Network Deployment. As a result, the interest expense related to the carrying amount of the 5G Network Deployment qualifying assets is being capitalized. Historically, the qualifying assets exceeded the carrying value of our long-term debt and finance lease obligations, therefore substantially all of our interest expense was being capitalized.

As a result of the lower basis of our qualifying assets due to the Sale and Transfer of Assets to EchoStar and other qualifying assets, including certain bands of wireless spectrum licenses that have been placed into service with the deployment of our 5G Network, we no longer capitalize substantially all interest on those assets. We expect this trend to continue.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Fair Value Measurements

We determine fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Market or observable inputs are the preferred source of values, followed by unobservable inputs or assumptions based on hypothetical transactions in the absence of market inputs. We apply the following hierarchy in determining fair value:

●

Level 1, defined as observable inputs being quoted prices in active markets for identical assets;

●

Level 2, defined as observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets and liabilities in active markets; and quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and

●

Level 3, defined as unobservable inputs for which little or no market data exists, consistent with reasonably available assumptions made by other participants therefore requiring assumptions based on the best information available.

As of September 30, 2024 and December 31, 2023, the carrying amount for cash and cash equivalents, trade accounts receivable (net of allowance for credit losses) and current liabilities (excluding the “Current portion of debt, finance lease and other obligations”) was equal to or approximated fair value due to their short-term nature or proximity to current market rates.

Fair values of our marketable investment securities are measured on a recurring basis based on a variety of observable market inputs. For our investments in publicly traded equity securities and U.S. government securities, fair value ordinarily is determined based on Level 1 measurements that reflect quoted prices for identical securities in active markets. Fair values of our investments in other marketable debt securities are generally based on Level 2 measurements as the markets for such debt securities are less active. We consider trades of identical debt securities on or near the measurement date as a strong indication of fair value and matrix pricing techniques that consider par value, coupon rate, credit quality, maturity and other relevant features may also be used to determine fair value of our investments in marketable debt securities. Additionally, we use fair value measurements from time to time in connection with other investments, asset impairment testing and the assignment of purchase consideration to assets and liabilities of acquired companies. Those fair value measurements typically include significant unobservable inputs and are categorized within Level 3 of the fair value hierarchy. Transfers between levels in the fair value hierarchy are considered to occur at the beginning of the quarterly accounting period. See Note 4 for the fair value of our marketable investment securities and derivative instruments.

Furthermore, for any sale of a financial asset in a transaction among entities under common control the difference between the net carrying value and the fair value of the assets sold, if any, is recorded as a gain or loss on the sale of the financial asset in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Fair values for our publicly traded debt securities are based on quoted market prices, when available. The fair values of private debt are based on, among other things, available trade information, and/or an analysis in which we evaluate market conditions, related securities, various public and private offerings, and other publicly available information. In performing this analysis, we make various assumptions regarding, among other things, credit spreads, and the impact of these factors on the value of the debt securities. See Note 8 for the fair value of our long-term debt.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Assets Recognized Related to the Costs to Obtain a Contract with a Customer

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that certain sales incentive programs in our Pay-TV and Retail Wireless segments, including those with our independent third-party retailers, meet the requirements to be capitalized, and payments made under these programs are capitalized and amortized to expense over the estimated customer life or the contract term. These amounts are capitalized in “Prepaids and other assets” and “Other noncurrent assets, net” on our Condensed Consolidated Balance Sheets, and then amortized in “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Advertising Costs

We recognize advertising expense when incurred as a component of “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Advertising expenses totaled $173 million and $169 million for the three months ended September 30, 2024 and 2023, respectively. Advertising expenses totaled $422 million and $462 million for the nine months ended September 30, 2024 and 2023, respectively.

Research and Development

Research and development costs, not incurred in connection with customer requirements, are expensed as incurred and are included as a component of “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Research and development costs totaled $6 million and $11 million for the three months ended September 30, 2024 and 2023, respectively. Research and development costs totaled $20 million and $33 million for the nine months ended September 30, 2024 and 2023, respectively.

New Accounting Pronouncements

Joint Ventures. On August 23, 2023, the FASB issued ASU 2023-05, Business Combinations — Joint Venture Formations (Subtopic 805-60) (“ASU 2023-05”), which requires an entity that qualifies as either a joint venture or a corporate joint venture as defined in the FASB Accounting Standards Codification (ASC) master glossary to apply a new basis of accounting upon the formation of the joint venture. This standard will be effective for all joint venture formations with a formation date on or after January 1, 2025. A joint venture that was formed before January 1, 2025 may elect to apply the amendments retrospectively if it has sufficient information. Early adoption is permitted in any interim or annual period in which financial statements have not yet been issued or made available for issuance. We plan to adopt the standard if applicable and we expect the adoption of the standard will have an immaterial impact on our disclosures.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Segment Reporting. On November 27, 2023, the FASB issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reporting Segment Disclosures (“ASU 2023-07”), which will enhance financial reporting by providing additional information about a public company’s significant segment expenses and more timely and detailed segment information reporting throughout the fiscal period. This standard will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We plan to adopt the standard when it becomes effective for us beginning in our fiscal year 2024 annual financial statements, and we expect the adoption of the standard will impact certain of our segment reporting disclosures.

Income Taxes. On December 14, 2023, the FASB issued ASU 2023-9, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which will enhance income tax disclosures. ASU 2023-09 requires among other items disaggregated information in a reporting entity’s rate reconciliation table, clarification on uncertain tax positions and the related financial statement impact as well as information on income taxes paid on a disaggregated basis. This standard will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are evaluating the impact the adoption of ASU 2023-09 will have on our Condensed Consolidated Financial Statements and related disclosures.

3.Supplemental Data - Statements of Cash Flows

The following table presents certain supplemental cash flow and other non-cash data. See Note 7 for supplemental cash flow and non-cash data related to leases.


	For the Nine Months Ended
	September 30,
	2024		2023

	(In thousands)
Cash paid for interest (including capitalized interest)	$	798,598	$	851,275
Cash paid for interest Intercompany Loan 2026 Tranche		64,582		—
Cash received for interest		8,832		11,578
Cash paid for income taxes, net of (refunds)		(22,268)		(10,113)
Cash paid for income taxes to EchoStar, net of (refunds)		—		—
Capitalized interest (1)		684,204		969,736
Employee benefits paid in Class A common stock		—		14,680
Vendor financing		—		87,343
Accrued capital expenditures		110,058		222,941
Asset retirement obligation		14,010		65,580
Asset Transfer to EchoStar, including deferred taxes of $3,775,370 (2)		15,778,363		—
Conversion of outstanding redeemable noncontrolling interest in SNR HoldCo to noncontrolling interest		441,998		—
Orbital II Transfer from EchoStar		140,510		—
Accrued Upfront Payment		—		100,000
Unsettled sales of marketable investment securities		—		119,068

(1)	See Note 2 for further information.

(2)	See Note 1 for further information.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Beginning in 2024, DISH Network and its domestic subsidiaries join with EchoStar in filing U.S. consolidated federal income tax returns and, in some states, combined or consolidated returns. The federal and state income tax provisions or benefits recorded by DISH Network are generally those that would have been recorded if DISH Network and its domestic subsidiaries had filed returns as a consolidated group independent of EchoStar. Cash is due and paid to EchoStar based on amounts that would be payable based on DISH Network consolidated or combined group filings. Amounts are receivable from EchoStar on a basis similar to when they would be receivable from the IRS or state taxing authorities. During the three and nine months ended September 30, 2024, no payments were made to EchoStar for income taxes.

Exchange Offer

On March 4, 2024, EchoStar commenced a tender offer to eligible employees (which excludes EchoStar’s and our co-founders and the non-executive/non-employee members of EchoStar’s Board of Directors) to exchange eligible stock options (which excludes the Ergen 2020 Performance Award) for new options as detailed in its Schedule TO filed March 4, 2024 with the Securities and Exchange Commission (the “Exchange Offer”), to, among other things, further align employee incentives with the current market. The Exchange Offer expired on April 1, 2024 and EchoStar accepted for exchange approximately 7 million stock options. As a result of the Exchange Offer, during the second quarter of 2024, the exercise price of approximately 3 million new stock options associated with our employees, affecting approximately 800 eligible employees, was adjusted to $14.04. The total incremental non-cash stock-based compensation expense resulting from the Exchange Offer was $11 million, which will be recognized over the remaining vesting period of the applicable options.

4.Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments

Our marketable investment securities, restricted cash and cash equivalents, and other investments consisted of the following:


	As of
	September 30,		December 31,
	2024		2023

	(In thousands)
Marketable investment securities:
Current marketable investment securities:
Strategic - available-for-sale	$	51	$	144
Strategic - trading/equity		10		7,799
Other		111		179
Total current marketable investment securities		172		8,122
Restricted marketable investment securities (1)		10,785		19,772
Total marketable investment securities		10,957		27,894

Restricted cash and cash equivalents (1) (2)		2,162,117		89,107

Other investments, net:
Equity method investments (3)		19,388		126,179
Cost method investments		5,648		3,448
Fair value method investments		39,291		39,198
Total other investments, net		64,327		168,825

Total marketable investment securities, restricted cash and cash equivalents, and other investments, net	$	2,237,401	$	285,826

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

(1)	Restricted marketable investment securities and restricted cash and cash equivalents are included in “Current restricted cash and cash equivalents” and “Restricted cash, cash equivalents and marketable investment securities” on our Condensed Consolidated Balance Sheets.

(2)	Includes $2.047 billion in proceeds received from the New DBS Financing, as detailed and defined in Note 8.

(3)	This change primarily resulted from the Sale and Transfer of Assets to EchoStar, see Note 1 for further information, and the decrease in our Invidi Technologies Corporation investment, discussed below.

Marketable Investment Securities

Our marketable investment securities portfolio may consist of debt and equity instruments. All equity securities are carried at fair value, with changes in fair value recognized in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). All debt securities are classified as available-for-sale and are recorded at fair value.

We report the temporary unrealized gains and losses related to changes in market conditions of marketable debt securities as a separate component of “Accumulated other comprehensive income (loss)” within “Stockholder’s Equity (Deficit),” net of related deferred income tax on our Condensed Consolidated Balance Sheets. The corresponding changes in the fair value of marketable debt securities, which are determined to be company specific credit losses are recorded in “Other, net” within “Other Income (Expense)” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See Note 2 for further information.

Current Marketable Investment Securities – Strategic

Our current strategic marketable investment securities portfolio includes and may include strategic and financial debt and/or equity investments in private and public companies that are highly speculative and have experienced and continue to experience volatility. As of September 30, 2024, this portfolio consisted of securities of a small number of issuers, and as a result the value of that portfolio depends, among other things, on the performance of those issuers. The fair value of certain of the debt and equity securities in this portfolio can be adversely impacted by, among other things, the issuers’ respective performance and ability to obtain any necessary additional financing on acceptable terms, or at all.

Current Marketable Investment Securities - Other

Our current other marketable investment securities portfolio includes investments in various debt instruments including, among others, commercial paper, corporate securities and United States treasury and/or agency securities.

Commercial paper consists mainly of unsecured short-term, promissory notes issued primarily by corporations with maturities ranging up to 365 days. Corporate securities consist of debt instruments issued by corporations with various maturities normally less than 18 months. U.S. Treasury and agency securities consist of debt instruments issued by the federal government and other government agencies.

Restricted Cash, Cash Equivalents and Marketable Investment Securities

As of September 30, 2024 and December 31, 2023, our restricted marketable investment securities, together with our restricted cash and cash equivalents, included amounts required as collateral for our letters of credit, surety bonds and trusts.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Current restricted cash and cash equivalents. As of September 30, 2024, “Current restricted cash and cash equivalents” on our Condensed Consolidated Balance Sheets includes $2.047 billion in proceeds received from the New DBS Financing, as detailed and defined in Note 8, which is required to be used for the redemption, repayment or repurchase of the principal balance and remaining interest outstanding on our 5 7/8% Senior Notes due November 15, 2024.

Other Investments, net

We have strategic investments in certain debt and/or equity securities that are included in noncurrent “Other investments, net” on our Condensed Consolidated Balance Sheets. Our debt securities are classified as available-for-sale and are recorded at fair value. Generally, our debt investments in non-publicly traded debt instruments without a readily determinable fair value are recorded at amortized cost. Our equity investments where we have the ability to exercise significant influence over the investee are accounted for using the equity method of accounting. Certain of our equity method investments are detailed below.

NagraStar L.L.C. We own a 50% interest in NagraStar L.L.C. (“NagraStar”), a joint venture that is our primary provider of encryption and related security systems intended to assure that only authorized customers have access to our programming. The three main technologies NagraStar provides to its customers are microchips, set-top box software, and uplink computer systems. NagraStar also provides end-to-end platform security testing services.

Invidi Technologies Corporation. We own a 35% interest in Invidi Technologies Corporation (“Invidi”), an entity that provides proprietary software for the addressable advertising market. Invidi contracts with multichannel video programming distributers to include its software in their respective set-top boxes and DVRs in order to deliver targeted advertisements based on a variety of demographic attributes selected by the advertisers. Invidi has also developed a cloud-based solution for internet protocol-based platforms. During the three months ended June 30, 2024, Invidi impaired the goodwill on their financial statements and our portion of this impairment resulted in a $63 million loss in “Equity in earnings (losses) of affiliates” recorded in “Other, net” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) during the nine months ended September 30, 2024.

We also hold investments that are not accounted for using the equity method of accounting, which are measured at fair value. Investments in equity securities without readily determinable fair values are accounted for at cost, less impairment, and adjusted for observable price changes for identical or similar investments of the same issuer.

Our ability to realize value from our strategic investments in securities that are not publicly traded depends on, among other things, the success of the issuers’ businesses and their ability to obtain sufficient capital, on acceptable terms or at all, and to execute their business plans. Because private markets are not as liquid as public markets, there is also increased risk that we will not be able to sell these investments, or that when we desire to sell them we will not be able to obtain fair value for them.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Fair Value Measurements

Our investments measured at fair value on a recurring basis were as follows:


	As of
	September 30, 2024								December 31, 2023
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3

	(In thousands)
Cash equivalents (including restricted)	$	2,168,058	$	85,330	$	2,082,728	$	—	$	347,976	$	304,410	$	43,566	$	—

Debt securities (including restricted):
U.S. Treasury and agency securities	$	10,785	$	10,785	$	—	$	—	$	7,567	$	7,567	$	—	$	—
Commercial paper		—		—		—		—		7,500		—		7,500		—
Corporate securities		—		—		—		—		4,705		—		4,705		—
Other		162		—		111		51		323		—		179		144
Equity securities		10		10		—		—		7,799		7,799		—		—
Total	$	10,957	$	10,795	$	111	$	51	$	27,894	$	15,366	$	12,384	$	144

As of September 30, 2024, restricted and non-restricted marketable investment securities included debt securities of $11 million with contractual maturities within one year. Actual maturities may differ from contractual maturities as a result of our ability to sell these securities prior to maturity.

Derivative Instruments

We had the option to purchase certain of T-Mobile’s 800 MHz spectrum licenses from T-Mobile at a fixed price pursuant to the License Purchase Agreement, as defined and detailed in our Annual Report on Form 10-K for the year ended December 31, 2023. This instrument met the definition of a derivative and was valued based upon, among other things, our estimate of the underlying asset price, the expected term, volatility, the risk free rate of return and the probability of us exercising the option. We did not exercise the option to purchase the 800 MHz spectrum licenses pursuant to the License Purchase Agreement, which expired on its own terms on April 1, 2024. As of December 31, 2023, the derivative’s fair value was zero on our Condensed Consolidated Balance Sheets. All changes in the derivative’s fair value were recorded in “Other, net” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See the table below.

We accounted for our option to purchase certain T-Mobile’s 800 MHz spectrum licenses under the License Purchase Agreement as a Level 3 instrument within the fair value hierarchy.

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

Gains and Losses on Sales and Changes in Carrying Amounts of Investments and Other

“Other, net” within “Other Income (Expense)” included on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) is as follows:


	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
Other, net:	2024		2023		2024		2023

	(In thousands)
Marketable and non-marketable investment securities - realized and unrealized gains (losses)	$	(8)	$	20	$	(922)	$	1,432
Sale of Assets to EchoStar - realized gains (losses)		—		—		128,788		—
Derivative instruments - net realized and/or unrealized gains (losses)		—		(155,133)		—		(192,107)
Gains (losses) related to early redemption of debt		—		4,480		—		72,566
Equity in earnings (losses) of affiliates		(3,345)		(1,216)		(68,257)		(3,596)
Liberty Puerto Rico Asset Sale (Note 9)		21,310		—		21,310		—
Other		62		352		(35)		979
Total	$	18,019	$	(151,497)	$	80,884	$	(120,726)

5.Inventory

Inventory consisted of the following:


	As of
	September 30,		December 31,
	2024		2023

	(In thousands)
Finished goods	$	221,254	$	407,620
Work-in-process and service repairs		31,194		35,464
Consignment		13,066		47,723
Raw materials		3,139		6,251
Total inventory	$	268,653	$	497,058

Table of Contents

DISH NETWORK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Continued

(Unaudited)

6.Property and Equipment and Intangible Assets

Property and Equipment

Property and equipment consisted of the following:



	Depreciable			As of
	Life			September 30,		December 31,
	(In Years)			2024		2023

				(In thousands)
Equipment leased to customers	2	-	5	$	1,044,268	$	1,181,193
Satellites	6	-	15		1,718,865		1,718,865
Satellites acquired under finance lease agreements		15			344,447		344,447
Furniture, fixtures, equipment and other (1)	2	-	12		799,644		908,924
5G Network Deployment equipment (2)	3	-	15		4,860,116		4,263,327
Software and computer equipment	2	-	8		2,347,536		2,111,305
Buildings and improvements (1)	5	-	40		334,017		381,757
Land (1)		-			12,041

DISH Network CORP 10-Q