Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2016
Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investment Securities  
Schedule of marketable investment securities, restricted cash and other investment securities

 

 

 

 

 

 

 

 

 

 

As of

 

 

 

June 30,

 

December 31,

 

 

    

2016

    

2015

 

 

 

(In thousands)

 

Marketable investment securities:

 

 

 

 

 

 

 

Current marketable investment securities - strategic

 

$
32,543

 

$
259,145

 

Current marketable investment securities - other

 

 
105,386

 

 
298,766

 

Total current marketable investment securities

 

 
137,929

 

 
557,911

 

Restricted marketable investment securities (1)

 

 
82,099

 

 
82,280

 

Total marketable investment securities

 

 
220,028

 

 
640,191

 

 

 

 

 

 

 

 

 

Restricted cash and cash equivalents (1)

 

 
275

 

 
94

 

 

 

 

 

 

 

 

 

Other investment securities:

 

 

 

 

 

 

 

Investment in EchoStar preferred tracking stock - cost method

 

 
228,795

 

 
228,795

 

Investment in HSSC preferred tracking stock - cost method

 

 
87,409

 

 
87,409

 

Other investment securities - cost method

 

 
8,167

 

 
11,046

 

Total other investment securities

 

 
324,371

 

 
327,250

 

 

 

 

 

 

 

 

 

Total marketable investment securities, restricted cash and cash equivalents, and other investment securities

 

$
544,674

 

$
967,535

 

 

 

 

 

 

 

 

 

(1)

Restricted marketable investment securities and restricted cash and cash equivalents are included in “Restricted cash, cash equivalents and marketable investment securities” on our Condensed Consolidated Balance Sheets.
Schedule of components of available-for-sale investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of  June 30, 2016

 

As of  December 31, 2015

 

 

Marketable

 

 

 

 

 

 

 

 

 

 

Marketable

 

 

 

 

 

 

 

 

 

 

 

Investment

 

Unrealized

 

Investment

 

Unrealized

 

 

Securities

    

Gains

    

Losses

    

Net

    

Securities

    

Gains

    

Losses

    

Net

 

 

(In thousands)

 

Debt securities (including restricted):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U. S. Treasury and agency securities

$
82,290

 

$
118

 

$

 —

 

$
118

 

$
82,124

 

$
2

 

$
(135)

 

$
(133)

 

Corporate securities

 
125,282

 

 
5,536

 

 
(4)

 

 
5,532

 

 
349,897

 

 
29,370

 

 
(480)

 

 
28,890

 

Other

 
1,184

 

 
68

 

 
(11)

 

 
57

 

 
47,847

 

 
73

 

 
(17)

 

 
56

 

Equity securities

 
11,272

 

 

 —

 

 
(1,932)

 

 
(1,932)

 

 
160,323

 

 
68,751

 

 
(41)

 

 
68,710

 

Total

$
220,028

 

$
5,722

 

$
(1,947)

 

$
3,775

 

$
640,191

 

$
98,196

 

$
(673)

 

$
97,523

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of available-for-sale securities in continuous unrealized loss position by length of time and their fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

 

June 30, 2016

 

December 31, 2015

 

 

 

Fair 

 

Unrealized

 

Fair 

 

Unrealized

 

 

    

Value

    

Loss

    

Value

    

Loss

 

 

 

(In thousands)

 

Debt Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

$
13,174

 

$
(4)

 

$
303,194

 

$
(612)

 

12 months or more

 

 
127

 

 
(11)

 

 
7,512

 

 
(20)

 

Equity Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 
6,012

 

 
(1,932)

 

 
6,133

 

 
(41)

 

12 months or more

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Total

 

$
19,313

 

$
(1,947)

 

$
316,839

 

$
(673)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

June 30, 2016

 

December 31, 2015

 

 

Total  

    

Level 1

    

Level 2

    

Level 3

    

Total  

    

Level 1

    

Level 2

    

Level 3

 

 

(In thousands)

 

Cash equivalents (including restricted)

$
3,260,509

 

$
2,681,628

 

$
578,881

 

$

 —

 

$
920,689

 

$
82,675

 

$
838,014

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities (including restricted):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U. S. Treasury and agency securities

$
82,290

 

$
77,560

 

$
4,730

 

$

 —

 

$
82,124

 

$
77,328

 

$
4,796

 

$

 —

 

Corporate securities

 
125,282

 

 

 —

 

 
119,118

 

 
6,164

 

 
349,897

 

 

 —

 

 
343,733

 

 
6,164

 

Other

 
1,184

 

 

 —

 

 
989

 

 
195

 

 
47,847

 

 

 —

 

 
47,648

 

 
199

 

Equity securities

 
11,272

 

 
11,272

 

 

 —

 

 

 —

 

 
160,323

 

 
160,323

 

 

 —

 

 

 —

 

Subtotal

 
220,028

 

 
88,832

 

 
124,837

 

 
6,359

 

 
640,191

 

 
237,651

 

 
396,177

 

 
6,363

 

Derivative financial instruments

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 
556,828

 

 

 —

 

 
556,828

 

 

 —

 

Total

$
220,028

 

$
88,832

 

$
124,837

 

$
6,359

 

$
1,197,019

 

$
237,651

 

$
953,005

 

$
6,363

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of changes in Level 3 instruments

 

 

 

 

 

 

 

Level 3

 

 

 

Investment

 

 

    

Securities

 

 

 

(In thousands)

 

Balance as of December 31, 2015

 

$
6,363

 

Net realized and unrealized gains (losses) included in earnings

 

 

 —

 

Net realized and unrealized gains (losses) included in other comprehensive income (loss)

 

 
92

 

Purchases

 

 

 —

 

Settlements

 

 
(96)

 

Issuances

 

 

 —

 

Transfers into or out of Level 3

 

 

 —

 

Balance as of June 30, 2016

 

$
6,359

 

 

 

 

 

 

 

Schedule of gains and losses on sales and changes in carrying values of investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months

 

For the Six Months

 

 

 

Ended June 30,

 

Ended June 30,

 

Other Income (Expense):

    

2016

    

2015

 

2016

    

2015

 

 

 

(In thousands)

 

Marketable investment securities - gains (losses) on sales/exchanges

 

$
29,868

 

$
34,927

 

$
108,521

 

$
99,907

 

Derivative financial instruments - net realized and/or unrealized gains (losses)

 

 
17,078

 

 
100,776

 

 
5,405

 

 
168,387

 

Marketable investment securities - other-than-temporary impairments

 

 
(914)

 

 

 —

 

 
(914)

 

 
(5,567)

 

Other

 

 
(2,091)

 

 
(225)

 

 
(2,006)

 

 
(6,960)

 

Total

 

$
43,941

 

$
135,478

 

$
111,006

 

$
255,767