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10-Q Filing

Globalstar, Inc. CIK: 1366868 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001144204-13-027603
Period End Date 20130331
Filing Date 20130510
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance gsat-20130331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $6.67M USD Point-in-time
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $6.36M USD Point-in-time
Accounts payable, including contractor payables ConstructionPayableCurrent $25.08M USD Point-in-time
Accounts payable, including contractor payables ConstructionPayableCurrent $27.75M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.79M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.95M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.74M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.30M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $46.78M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $38.15M USD Point-in-time
Accounts receivable, net of allowance of $6,363 and $6,667, respectively AccountsReceivableNet $13.94M USD Point-in-time
Accounts receivable, net of allowance of $6,363 and $6,667, respectively AccountsReceivableNet $14.38M USD Point-in-time
Inventory InventoryNet $42.18M USD Point-in-time
Inventory InventoryNet $39.82M USD Point-in-time
Deferred financing costs DeferredFinanceCostsCurrentNet $34.62M USD Point-in-time
Deferred financing costs DeferredFinanceCostsCurrentNet $32.14M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $5.33M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $5.23M USD Point-in-time
Total current assets AssetsCurrent $131.12M USD Point-in-time
Total current assets AssetsCurrent $154.55M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.22B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.22B USD Point-in-time
Deferred financing costs DeferredFinanceCostsNoncurrentNet $16.88M USD Point-in-time
Deferred financing costs DeferredFinanceCostsNoncurrentNet $17.35M USD Point-in-time
Advances for inventory InventoryNoncurrent $9.16M USD Point-in-time
Advances for inventory InventoryNoncurrent $9.16M USD Point-in-time
Intangible and other assets, net IntangibleAssetsAndOtherAssetsNoncurrent $11.83M USD Point-in-time
Intangible and other assets, net IntangibleAssetsAndOtherAssetsNoncurrent $8.03M USD Point-in-time
Total assets Assets $1.39B USD Point-in-time
Total assets Assets $1.40B USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $657.47M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $655.87M USD Point-in-time
Accounts payable, including contractor payables of $25,078 and $27,747, respectively AccountsPayableCurrent $32.57M USD Point-in-time
Accounts payable, including contractor payables of $25,078 and $27,747, respectively AccountsPayableCurrent $35.69M USD Point-in-time
Accrued contract termination charge AccruedLiabilitiesAndOtherLiabilities $23.17M USD Point-in-time
Accrued contract termination charge AccruedLiabilitiesAndOtherLiabilities $23.46M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $38.25M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $28.16M USD Point-in-time
Payables to affiliates DueToAffiliateCurrent $230.00K USD Point-in-time
Payables to affiliates DueToAffiliateCurrent $260.00K USD Point-in-time
Deferred revenue DeferredRevenueCurrent $18.04M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $18.13M USD Point-in-time
Total current liabilities LiabilitiesCurrent $761.16M USD Point-in-time
Total current liabilities LiabilitiesCurrent $770.14M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $95.16M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $97.74M USD Point-in-time
Employee benefit obligations PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $7.22M USD Point-in-time
Employee benefit obligations PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $7.23M USD Point-in-time
Derivative liabilities DerivativeLiabilitiesNoncurrent $25.18M USD Point-in-time
Derivative liabilities DerivativeLiabilitiesNoncurrent $24.66M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $4.64M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $4.43M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $16.80M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $15.88M USD Point-in-time
Total non-current liabilities LiabilitiesNoncurrent $150.86M USD Point-in-time
Total non-current liabilities LiabilitiesNoncurrent $148.07M USD Point-in-time
Commitments and contingent liabilities (Notes 8 and 9) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingent liabilities (Notes 8 and 9) CommitmentsAndContingencies - USD Point-in-time
Preferred Stock PreferredStockValue - USD Point-in-time
Preferred Stock PreferredStockValue - USD Point-in-time
Common Stock CommonStockValue $49.00K USD Point-in-time
Common Stock CommonStockValue $49.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $864.17M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $864.88M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.33M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.10M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.76M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.64M USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-393.00M USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-367.92M USD Point-in-time
Total stockholders' equity StockholdersEquity $494.54M USD Point-in-time
Total stockholders' equity StockholdersEquity $469.60M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.40B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.39B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Service revenues SalesRevenueServicesNet $15.39M USD 1 Quarter
Service revenues SalesRevenueServicesNet $12.63M USD 1 Quarter
Subscriber equipment sales SalesRevenueGoodsNet $3.94M USD 1 Quarter
Subscriber equipment sales SalesRevenueGoodsNet $4.11M USD 1 Quarter
Total revenue Revenues $16.74M USD 1 Quarter
Total revenue Revenues $19.33M USD 1 Quarter
Cost of services (exclusive of depreciation, amortization, and accretion shown separately below) CostOfServices $7.53M USD 1 Quarter
Cost of services (exclusive of depreciation, amortization, and accretion shown separately below) CostOfServices $7.26M USD 1 Quarter
Cost of subscriber equipment sales CostOfGoodsSold $2.94M USD 1 Quarter
Cost of subscriber equipment sales CostOfGoodsSold $2.72M USD 1 Quarter
Cost of subscriber equipment sales - reduction in the value of inventory InventoryWriteDown - USD 1 Quarter
Cost of subscriber equipment sales - reduction in the value of inventory InventoryWriteDown $249.00K USD 1 Quarter
Marketing, general, and administrative SellingGeneralAndAdministrativeExpense $6.92M USD 1 Quarter
Marketing, general, and administrative SellingGeneralAndAdministrativeExpense $6.62M USD 1 Quarter
Reduction in the value of long-lived assets ImpairmentOfLongLivedAssetsHeldForUse $79.00K USD 1 Quarter
Reduction in the value of long-lived assets ImpairmentOfLongLivedAssetsHeldForUse - USD 1 Quarter
Depreciation, amortization, and accretion DepreciationAmortizationAndAccretionNet $14.73M USD 1 Quarter
Depreciation, amortization, and accretion DepreciationAmortizationAndAccretionNet $20.33M USD 1 Quarter
Total operating expenses CostsAndExpenses $37.72M USD 1 Quarter
Total operating expenses CostsAndExpenses $31.67M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-14.93M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-18.39M USD 1 Quarter
Interest income and expense, net of amounts capitalized InterestIncomeAndExpenseNet $-7.75M USD 1 Quarter
Interest income and expense, net of amounts capitalized InterestIncomeAndExpenseNet $-3.05M USD 1 Quarter
Derivative gain (loss) GainLossOnDerivativeInstrumentsNetPretax $-6.52M USD 1 Quarter
Derivative gain (loss) GainLossOnDerivativeInstrumentsNetPretax $525.00K USD 1 Quarter
Other OtherNonoperatingIncomeExpense $642.00K USD 1 Quarter
Other OtherNonoperatingIncomeExpense $132.00K USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-6.58M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-9.44M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-24.98M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-24.37M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $103.00K USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $157.00K USD 1 Quarter
Net loss NetIncomeLoss $-24.52M USD 1 Quarter
Net loss NetIncomeLoss $-25.08M USD 1 Quarter
Basic EarningsPerShareBasic $-0.07 USD 1 Quarter
Basic EarningsPerShareBasic $-0.05 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.05 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.07 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 472.19M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 357.42M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 472.19M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 357.42M shares 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-24.07M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-25.65M USD 1 Quarter
Cash Flow Statement 82 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-24.52M USD 1 Quarter
Net loss NetIncomeLoss $-25.08M USD 1 Quarter
Depreciation, amortization, and accretion DepreciationAmortizationAndAccretionNet $14.73M USD 1 Quarter
Depreciation, amortization, and accretion DepreciationAmortizationAndAccretionNet $20.33M USD 1 Quarter
Change in fair value of derivative assets and liabilities GainLossOnDerivativeInstrumentsNetPretax $-6.52M USD 1 Quarter
Change in fair value of derivative assets and liabilities GainLossOnDerivativeInstrumentsNetPretax $525.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $236.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $206.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $2.07M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $856.00K USD 1 Quarter
Reduction in the value of long-lived assets and inventory OtherAssetImpairmentCharges - USD 1 Quarter
Reduction in the value of long-lived assets and inventory OtherAssetImpairmentCharges $328.00K USD 1 Quarter
Provision for bad debts ProvisionForDoubtfulAccounts $482.00K USD 1 Quarter
Provision for bad debts ProvisionForDoubtfulAccounts $112.00K USD 1 Quarter
Noncash interest and accretion expense NonCashInterestExpenseCashFlow $1.19M USD 1 Quarter
Noncash interest and accretion expense NonCashInterestExpenseCashFlow $2.73M USD 1 Quarter
Loss on equity method investment IncomeLossFromEquityMethodInvestments $-105.00K USD 1 Quarter
Loss on equity method investment IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-283.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-333.00K USD 1 Quarter
Unrealized foreign currency loss ForeignCurrencyTransactionGainLossUnrealized $701.00K USD 1 Quarter
Unrealized foreign currency loss ForeignCurrencyTransactionGainLossUnrealized $139.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $1.02M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-386.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-2.11M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-756.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $89.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-906.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $4.99M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-646.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-5.51M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $4.02M USD 1 Quarter
Payables to affiliates IncreaseDecreaseInDueToAffiliates $30.00K USD 1 Quarter
Payables to affiliates IncreaseDecreaseInDueToAffiliates $29.00K USD 1 Quarter
Other non-current liabilities IncreaseDecreaseInOtherOperatingLiabilities $879.00K USD 1 Quarter
Other non-current liabilities IncreaseDecreaseInOtherOperatingLiabilities $-330.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-396.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-104.00K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-533.00K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-2.58M USD 1 Quarter
Second-generation satellites, ground and related launch costs PaymentsForConstructionInProcess $20.54M USD 1 Quarter
Second-generation satellites, ground and related launch costs PaymentsForConstructionInProcess $17.57M USD 1 Quarter
Property and equipment additions PaymentsToAcquirePropertyPlantAndEquipment $120.00K USD 1 Quarter
Property and equipment additions PaymentsToAcquirePropertyPlantAndEquipment $239.00K USD 1 Quarter
Investment in businesses PaymentsToAcquireEquityMethodInvestments - USD 1 Quarter
Investment in businesses PaymentsToAcquireEquityMethodInvestments $150.00K USD 1 Quarter
Restricted cash proceeds (payments) IncreaseDecreaseInRestrictedCash $2.50M USD 1 Quarter
Restricted cash proceeds (payments) IncreaseDecreaseInRestrictedCash $-8.62M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-23.31M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-9.18M USD 1 Quarter
Borrowings from Facility Agreement ProceedsFromOtherDebt - USD 1 Quarter
Borrowings from Facility Agreement ProceedsFromOtherDebt $5.01M USD 1 Quarter
Proceeds from contingent equity account ProceedsFromPaymentsForOtherFinancingActivities $18.50M USD 1 Quarter
Proceeds from contingent equity account ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts $489.00K USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts $250.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $23.26M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-489.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $419.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-287.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-2.22M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-10.49M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $11.79M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $9.95M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $7.74M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $1.30M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $11.79M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $9.95M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $7.74M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $1.30M USD Point-in-time
Cash paid during the period for interest InterestPaid - USD 1 Quarter
Cash paid during the period for interest InterestPaid $7.38M USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaid $16.00K USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaid $28.00K USD 1 Quarter
Reduction in accrued second-generation satellites and ground costs ConstructionInProgressExpendituresIncurredButNotYetPaid $1.06M USD 1 Quarter
Reduction in accrued second-generation satellites and ground costs ConstructionInProgressExpendituresIncurredButNotYetPaid $7.49M USD 1 Quarter
Increase in capitalized accrued interest for second-generation satellites and ground costs InterestCostsIncurredCapitalized $1.27M USD 1 Quarter
Increase in capitalized accrued interest for second-generation satellites and ground costs InterestCostsIncurredCapitalized $1.60M USD 1 Quarter
Capitalization of the accretion of debt discount and amortization of prepaid finance costs PaymentsOfDebtIssuanceCosts $2.67M USD 1 Quarter
Capitalization of the accretion of debt discount and amortization of prepaid finance costs PaymentsOfDebtIssuanceCosts $2.69M USD 1 Quarter
Payments made in convertible notes and common stock IssuanceOfCommonStockInExchangeForAccruedExpenses $339.00K USD 1 Quarter
Payments made in convertible notes and common stock IssuanceOfCommonStockInExchangeForAccruedExpenses $281.00K USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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