[PART I — FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section provides the company's consolidated financial statements, management's discussion and analysis, market risk disclosures, and internal controls [Item 1. Financial Statements](index=8&type=section&id=Item%201.%20Financial%20Statements) This section presents DISH Network's consolidated financial statements, detailing financial position and performance for the nine months ended September 30, 2021 [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This table presents the company's financial position, detailing assets, liabilities, and equity at specific reporting dates Condensed Consolidated Balance Sheet Data (in thousands) | Account | As of Sep 30, 2021 | As of Dec 31, 2020 | | :--- | :--- | :--- | | **Total current assets** | $7,278,537 | $7,022,158 | | **Total noncurrent assets** | $33,935,700 | $31,217,789 | | **Total assets** | **$41,214,237** | **$38,239,947** | | **Total current liabilities** | $6,309,344 | $6,084,746 | | **Total long-term obligations** | $19,566,740 | $18,023,908 | | **Total liabilities** | **$25,876,084** | **$24,108,654** | | **Total stockholders' equity** | $14,955,852 | $13,780,645 | | **Total liabilities and stockholders' equity** | **$41,214,237** | **$38,239,947** | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) This table details the company's revenues, operating income, and net income over specified periods, reflecting operational performance Condensed Consolidated Statements of Operations (in thousands, except per share amounts) | Metric | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | **Total revenue** | $4,449,635 | $4,531,591 | $13,434,448 | $10,936,070 | | **Operating income (loss)** | $717,705 | $811,248 | $2,489,019 | $1,592,976 | | **Net income (loss)** | $567,520 | $532,959 | $1,890,534 | $1,112,638 | | **Net income (loss) attributable to DISH Network** | $557,042 | $504,599 | $1,858,313 | $1,030,041 | | **Diluted earnings per share** | $0.88 | $0.86 | $2.93 | $1.77 | [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This table summarizes the company's cash inflows and outflows from operating, investing, and financing activities Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | **Net cash flows from operating activities** | $3,259,667 | $2,717,691 | | **Net cash flows from investing activities** | ($3,836,933) | ($3,180,493) | | **Net cash flows from financing activities** | ($532,206) | ($156,937) | | **Net (decrease) in cash and equivalents** | ($1,109,472) | ($619,739) | [Notes to Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides additional information and disclosures essential for understanding the condensed consolidated financial statements [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=112&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operational results, focusing on segment performance and 5G network deployment strategy [Overview](index=112&type=section&id=Overview) This section provides an overview of the company's primary business segments and their respective strategies - The company operates two primary business segments: **Pay-TV** (under DISH® and SLING® brands) and **Wireless**, which is further divided into Retail Wireless and 5G Network Deployment[389](index=389&type=chunk) - The Pay-TV strategy focuses on providing the best value, technology, and customer service, with SLING TV targeting consumers who do not subscribe to traditional pay-TV services[390](index=390&type=chunk) - The Retail Wireless strategy (Boost Mobile, Ting Mobile, Republic Wireless) aims to grow its subscriber base by offering competitive plans and value-added services while the 5G network is being built[391](index=391&type=chunk) - The **5G Network Deployment** strategy is to build the nation's first **cloud-native**, **Open Radio Access Network (O-RAN)** based 5G network, with agreements with tower companies like Crown Castle and American Tower, and technology vendors like Amazon, Dell, and VMware[392](index=392&type=chunk)[394](index=394&type=chunk) [Recent Developments](index=114&type=section&id=Recent%20Developments) This section outlines recent events impacting the company, including the ongoing effects of the COVID-19 pandemic and key acquisitions - The **COVID-19 pandemic** continues to impact business operations, particularly through **supply chain interruptions** for set-top boxes, wireless devices, and network equipment, which could affect the **5G network buildout timeline**[395](index=395&type=chunk)[397](index=397&type=chunk) - The company completed the acquisition of **Boost Mobile** on July 1, 2020, entering the retail wireless market with over **9 million subscribers**[400](index=400&type=chunk) - The company completed the acquisition of **Ting Mobile** on August 1, 2020, adding over **200,000 subscribers**[403](index=403&type=chunk) - The company completed the acquisition of **Republic Wireless** on May 1, 2021, adding approximately **200,000 subscribers**[405](index=405&type=chunk) [RESULTS OF OPERATIONS – Segments](index=121&type=section&id=RESULTS%20OF%20OPERATIONS%20%E2%80%93%20Segments) This section analyzes the financial performance of the company's Pay-TV and Wireless segments, including revenue and operating income Consolidated Revenue by Segment (in thousands) | Segment | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Pay-TV | $3,220,128 | $3,190,664 | 0.9% | | Wireless | $1,230,072 | $1,341,512 | (8.3%) | | **Total** | **$4,449,635** | **$4,531,591** | **(1.8%)** | Consolidated Operating Income by Segment (in thousands) | Segment | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Pay-TV | $699,730 | $803,817 | (12.9%) | | Wireless | $17,975 | $7,431 | 141.9% | | **Total** | **$717,705** | **$811,248** | **(11.5%)** | [LIQUIDITY AND CAPITAL RESOURCES](index=153&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) This section discusses the company's cash position, capital expenditures, and financing activities, particularly for 5G network deployment - As of September 30, 2021, the company held **$5.248 billion** in cash, cash equivalents, and current marketable investment securities, an increase of **$1.515 billion** from year-end 2020[564](index=564&type=chunk) Free Cash Flow Reconciliation (in thousands) | Metric | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash flows from operating activities | $3,259,667 | $2,717,691 | | Purchases of property and equipment (incl. capitalized interest) | ($1,389,311) | ($955,814) | | **Free cash flow** | **$1,870,356** | **$1,761,877** | - The company expects to incur **significant capital expenditures** for its **5G Network Deployment**, which are anticipated to increase substantially through 2021 and beyond[586](index=586&type=chunk)[589](index=589&type=chunk) - On May 24, 2021, the company issued **$1.5 billion** of **5 1/8% Senior Notes due 2029**, and the **$2.0 billion 6 3/4% Senior Notes due 2021** were fully repurchased or redeemed as of June 1, 2021[594](index=594&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=162&type=section&id=Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its market risk during the nine months ended September 30, 2021 - There have been **no material changes** in the company's **market risk** during the nine months ended September 30, 2021[598](index=598&type=chunk) [Controls and Procedures](index=162&type=section&id=Controls%20and%20Procedures) Management evaluated the company's disclosure controls and procedures, concluding they were effective with no material changes during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures** were **effective** as of the end of the period covered by the report[599](index=599&type=chunk) - There were **no changes** in **internal control over financial reporting** during the most recent fiscal quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[600](index=600&type=chunk) [PART II — OTHER INFORMATION](index=162&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section covers additional information including legal proceedings, risk factors, equity sales, and a list of filed exhibits [Legal Proceedings](index=162&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 11 in the financial statements for information regarding the company's legal proceedings - Information regarding **legal proceedings** is detailed in **Note 11** of the financial statements[602](index=602&type=chunk) [Risk Factors](index=162&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the Annual Report on Form 10-K for a detailed discussion of the company's risk factors - A **detailed discussion** of **risk factors** is included in the company's Annual Report on Form 10-K for the year ended December 31, 2020[603](index=603&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=163&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no Class A common stock repurchases during Q3 2021 and authorized a new $1.0 billion repurchase program - **No shares** of Class A common stock were **repurchased** during the three months ended September 30, 2021[605](index=605&type=chunk)[607](index=607&type=chunk) - On November 1, 2021, the Board of Directors authorized a **new stock repurchase program** for up to **$1.0 billion** of Class A common stock, valid through December 31, 2022[605](index=605&type=chunk) [Exhibits](index=163&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and key agreements - Exhibits filed include **CEO/CFO certifications** and the **Network Services Agreement with AT&T** dated July 14, 2021[609](index=609&type=chunk)

Table of Contents 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 JUNE 30, 2021. OR ☐ 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 (St ...

Table of Contents 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 MARCH 31, 2021. OR ☐ 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 C ...

Subscriber Base - As of December 31, 2020, DISH Network had 11.290 million Pay-TV subscribers, including 8.816 million DISH TV subscribers and 2.474 million SLING TV subscribers[18]. - The retail wireless segment had 9.055 million subscribers as of December 31, 2020, following the Boost Mobile Acquisition which added over 9 million subscribers and the Ting Mobile Acquisition which added over 200,000 subscribers[19]. - DISH Network's SLING TV services are marketed as lower-cost alternatives to traditional pay-TV, requiring an Internet connection and available on multiple devices[37]. Acquisitions and Investments - The Boost Mobile Acquisition was completed for an aggregate purchase price of $1.4 billion, effective July 1, 2020[23]. - The Ting Mobile Acquisition was completed on August 1, 2020, acquiring over 200,000 subscribers[28]. - DISH Network has invested over $21 billion in wireless spectrum licenses and related assets, including over $11 billion directly for licenses and over $10 billion in non-controlling investments[21]. - The company has made over $10 billion in non-controlling investments in Northstar and SNR entities related to AWS-3 wireless spectrum licenses[57]. Wireless Network Development - DISH Network aims to commercialize its wireless spectrum licenses through the development of the first cloud-native, Open Radio Access Network (O-RAN) based 5G network[21]. - The company plans to spend approximately $10 billion on its 5G Network Deployment, excluding capitalized interest[55]. - The company has entered into a long-term agreement with Crown Castle to lease space on up to 20,000 communication towers as part of its network deployment strategy[55]. - The company operates as an MVNO while building its 5G network, relying on T-Mobile for network services under the MNSA[46]. Competitive Landscape - The company faces intense competition from both traditional pay-TV providers and new entrants in the streaming market, including Netflix, Hulu, and Amazon[44]. - The retail wireless market is characterized by intense competition from larger national carriers like Verizon, AT&T, and T-Mobile, which poses challenges for subscriber acquisition and retention[52]. - The company faces intense competition in the Pay-TV sector, with increasing competition from broadband and wireless service providers, impacting subscriber acquisition and retention[149]. - The wireless services industry is highly competitive, with established players like Verizon and AT&T having greater resources, which may hinder DISH's ability to attract new subscribers[163]. Regulatory Challenges - The company faces significant government regulation and oversight, particularly from the FCC, which could impact its operations and financial condition[63]. - The FCC has proposed allowing "tweener" DBS operations, which could potentially cause harmful interference to the company's services and constrain future operations[77]. - The FCC's rules regarding public interest obligations require the company to set aside 4% of channel capacity for noncommercial programming, which could impact financial results[82]. - The FCC's consideration of extending cable exclusivity bans to DBS providers could adversely affect the company's ability to serve multiple dwelling units[98]. Financial Performance and Risks - The company’s revenue from both pay-TV and wireless services is vulnerable to economic weakness and uncertainty, particularly related to the COVID-19 pandemic[146]. - The cost of programming is the largest component of Pay-TV costs, and competitors with programming affiliations may secure lower costs or exclusive content, placing DISH at a disadvantage[169]. - Economic weakness may lead to fewer subscriber activations and increased churn rates, particularly among lower-tier programming package subscribers[180]. - Increased subscriber acquisition and retention costs are anticipated due to economic conditions, impacting profitability[185]. Operational Challenges - The COVID-19 pandemic has adversely affected the company's business, leading to reduced subscriber activations and increased churn rates due to social distancing measures[144]. - The company has experienced interruptions in its supply chain due to COVID-19, affecting its ability to meet build-out requirements for its wireless spectrum licenses[147]. - The company faces challenges in renewing programming contracts, which could negatively impact subscriber activations and churn rates[193]. - Cybersecurity risks pose a threat to the company's information technology systems, which could disrupt operations and harm subscriber trust[200]. Management and Leadership - The company had approximately 13,500 employees as of December 31, 2020, and is in negotiations with a union representing a small group of employees[122]. - The company believes its future success is dependent on retaining key executives, with potential adverse effects if key personnel are lost[120]. - The executive team includes Charles W. Ergen as Chairman, Paul W. Orban as CFO, and David A. Scott as Chief Human Resources Officer, among others[129]. - The company has a history of executive leadership stability, with key executives serving in their roles for several years, contributing to its strategic direction[127].

Table of Contents 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, 2020. OR ☐ 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 Netwo ...

Financial Performance - Total revenue for the three months ended June 30, 2020, was $3,187,090, a decrease of 0.2% compared to $3,211,312 for the same period in 2019[47]. - Subscriber-related revenue was $3,149,813 for the three months ended June 30, 2020, down from $3,162,572 in the prior year, reflecting a decline of approximately 0.4%[47]. - Operating income for the three months ended June 30, 2020, increased to $637,650, compared to $430,732 for the same period in 2019, representing a growth of 48.1%[47]. - Net income attributable to DISH Network for the three months ended June 30, 2020, was $452,343, up from $317,043 in the same period last year, marking a rise of 42.6%[47]. - Total costs and expenses for the three months ended June 30, 2020, were $2,549,440, a decrease of 8.3% from $2,780,580 in the prior year[47]. - Subscriber acquisition costs totaled $199,724 for the three months ended June 30, 2020, down 16.1% from $238,078 in the same period of 2019[47]. - Basic net income per share attributable to DISH Network was $0.86 for the three months ended June 30, 2020, compared to $0.68 for the same period in 2019, an increase of 26.5%[47]. - Comprehensive income attributable to DISH Network for the three months ended June 30, 2020, was $449,481, compared to $317,249 in the same period last year, reflecting a growth of 41.6%[47]. - The company reported a decrease in subscriber-related expenses to $1,884,743 for the three months ended June 30, 2020, down from $2,000,961 in the prior year, a reduction of 5.8%[47]. Assets and Liabilities - Total current assets increased to $4,108,574 thousand as of June 30, 2020, compared to $4,015,100 thousand as of December 31, 2019, reflecting a growth of approximately 2.3%[43]. - Cash and cash equivalents rose to $2,589,817 thousand, up from $2,443,643 thousand, indicating an increase of about 5.9%[43]. - Total liabilities decreased to $20,732,122 thousand from $21,114,788 thousand, representing a reduction of approximately 1.8%[43]. - Long-term debt and finance lease obligations decreased to $10,985,852 thousand from $12,968,229 thousand, a decline of about 15.3%[43]. - Total stockholders' equity rose to $12,159,537 thousand, up from $11,564,072 thousand, reflecting an increase of about 5.1%[43]. - The current portion of long-term debt and finance lease obligations increased to $2,073,410 thousand from $1,171,366 thousand, a significant rise of approximately 77%[43]. - Marketable investment securities decreased significantly to $40,202 thousand from $416,704 thousand, a decline of about 90.4%[43]. Cash Flow and Investments - Net cash flows from operating activities for the six months ended June 30, 2020, were $1.71 billion, an increase from $1.35 billion in the prior year[53]. - Cash, cash equivalents, and restricted cash at the end of the period were $2.65 billion, up from $1.92 billion at the end of June 2019[53]. - The company redeemed and repurchased senior notes totaling $1.1 billion during the financing activities[53]. - The company incurred an impairment of long-lived assets amounting to $356.42 million during the six months ended June 30, 2020[53]. - The company expects expenditures for its 5G Network Deployment to be approximately $10 billion, excluding capitalized interest[67]. - Anticipated expenditures for wireless projects in 2020 are estimated to be between $250 million and $500 million, excluding capitalized interest[67]. Subscriber Information - As of June 30, 2020, DISH Network had 11.272 million Pay-TV subscribers, including 9.017 million DISH TV subscribers and 2.255 million SLING TV subscribers[56]. - The weighted-average common shares outstanding for the three months ended June 30, 2020, were 524,292, an increase from 469,655 in the same period of 2019[47]. Spectrum and Regulatory Commitments - The company has committed to offer 5G broadband service to at least 70% of the U.S. population by June 14, 2023, as part of its FCC build-out commitments[65]. - The company is required to offer nationwide postpaid retail mobile wireless service within one year of the Closing Date[62]. - The company must comply with various build-out commitments to avoid penalties totaling up to $2.2 billion to the FCC[63]. - The company entered into a Spectrum Purchase Agreement to acquire Sprint's 800 MHz spectrum for approximately $3.59 billion[177]. - The company must provide the DOJ with deployment efforts updates every fiscal quarter, including the number of towers deployed and mobile wireless subscriptions[188]. Impairments and Charges - A non-cash impairment charge of $253 million was recorded in Q1 2020 due to the revision of build-out deadlines for the narrowband IoT deployment[67]. - The company recorded a non-cash impairment charge of $356.4 million for long-lived assets during the first quarter of 2020, which included $103 million related to AWS-4 satellites and $253 million for narrowband IoT deployment[91][92][94]. - The company impaired $227 million for capitalized costs related to the narrowband IoT deployment during the six months ended June 30, 2020[152]. Research and Development - Research and development costs totaled $5 million for the three months ended June 30, 2020, compared to $6 million for the same period in 2019, reflecting a decrease of approximately 16.67%[120].

[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) [Disclosure Regarding Forward-Looking Statements](index=4&type=section&id=Disclosure%20Regarding%20Forward-Looking%20Statements) This section outlines forward-looking statements, based on current management views, which are not guarantees of future performance and are subject to various risks - The report contains forward-looking statements regarding plans, objectives, and future results, which are subject to risks and uncertainties beyond the company's control[7](index=7&type=chunk) - Key risk categories that could impact future performance include: - **Competition and Economic Risks:** Intense competition from pay-TV and digital media, changing consumer behavior, economic weakness, and the impact of the COVID-19 pandemic - **Operational and Service Delivery Risks:** Dependence on programming providers, rising programming expenses, reliance on key vendors, and risks related to satellite capacity and technology changes - **Acquisition and Capital Structure Risks:** Risks associated with wireless spectrum investments, build-out requirements, integration of acquisitions (like the Prepaid Business from Sprint), and substantial debt - **Legal and Regulatory Risks:** Risks from litigation (e.g., Telemarketing litigation), intellectual property disputes, and significant FCC regulatory oversight[8](index=8&type=chunk)[16](index=16&type=chunk)[20](index=20&type=chunk)[32](index=32&type=chunk) [Item 1. Financial Statements](index=13&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 2020, including Balance Sheets, Income, Equity, and Cash Flows, with explanatory notes [Condensed Consolidated Financial Statements](index=13&type=section&id=Condensed%20Consolidated%20Financial%20Statements) Financial statements show total assets at **$33.67 billion**, total revenue at **$3.22 billion**, but net income significantly decreased to **$73.1 million** due to a **$356.4 million** impairment charge Condensed Consolidated Balance Sheet Data (Unaudited) | Balance Sheet Items | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $4,642,289 | $4,015,100 | | **Total Assets** | $33,673,295 | $33,230,935 | | **Total Current Liabilities** | $4,630,987 | $4,496,091 | | **Total Liabilities** | $21,435,715 | $21,114,788 | | **Total Stockholders' Equity** | $11,659,593 | $11,564,072 | Condensed Consolidated Statement of Operations Data (Unaudited) | Income Statement Items | Q1 2020 (in thousands) | Q1 2019 (in thousands) | | :--- | :--- | :--- | | **Total Revenue** | $3,217,389 | $3,187,144 | | **Total Costs and Expenses** | $3,073,311 | $2,730,844 | | **Operating Income (Loss)** | $144,078 | $456,300 | | **Net Income (Loss)** | $99,274 | $361,299 | | **Net Income (Loss) Attributable to DISH Network** | $73,099 | $339,761 | | **Diluted EPS** | $0.13 | $0.65 | Condensed Consolidated Statement of Cash Flows Data (Unaudited) | Cash Flow Items | Q1 2020 (in thousands) | Q1 2019 (in thousands) | | :--- | :--- | :--- | | **Net Cash Flows from Operating Activities** | $875,953 | $732,929 | | **Net Cash Flows from Investing Activities** | ($481,136) | ($40,268) | | **Net Cash Flows from Financing Activities** | ($11,186) | $4,753 | [Notes to Condensed Consolidated Financial Statements](index=17&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail business segments, accounting policies, Sprint asset acquisition, wireless spectrum investments, impairment charges, **$280 million** litigation accrual, and related-party transactions - The company operates two primary business segments: Pay-TV (DISH TV and Sling TV) and Wireless. As of March 31, 2020, there were **11.323 million** Pay-TV subscribers[45](index=45&type=chunk)[46](index=46&type=chunk) - In Q1 2020, the company recorded a **$356.4 million** non-cash impairment charge. This was due to abandoning its narrowband IoT deployment in favor of a 5G network, resulting in a **$253 million** write-down of related assets, and a **$103 million** write-down of the T1 and D1 AWS-4 satellites[83](index=83&type=chunk)[84](index=84&type=chunk) - The company has entered into an Asset Purchase Agreement to acquire Sprint's prepaid mobile businesses (Boost Mobile, Virgin Mobile) for **$1.4 billion**. The deal is part of a larger arrangement with T-Mobile and the DOJ to establish DISH as a new nationwide wireless competitor[47](index=47&type=chunk)[48](index=48&type=chunk) - DISH has made significant commitments to the FCC to deploy a nationwide 5G broadband network, with specific population coverage targets by June 2022 and June 2023. Failure to meet these commitments could result in up to **$2.2 billion** in penalties and license forfeitures[57](index=57&type=chunk)[61](index=61&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=119&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A highlights a **413,000** Pay-TV subscriber loss, COVID-19 impacts, a strategic shift to 5G with a **$356 million** impairment, and strong liquidity but **$10 billion** in future 5G capital needs Q1 2020 Key Operating Metrics | Metric | Q1 2020 | Change from Q1 2019 | | :--- | :--- | :--- | | Net Pay-TV Subscriber Loss | 413,000 | Increased loss of 154,000 | | Net DISH TV Subscriber Loss | 132,000 | Decreased loss of 134,000 | | Net Sling TV Subscriber Loss | 281,000 | Down from 7,000 net additions | | Pay-TV ARPU | $88.76 | +4.4% | | DISH TV Churn Rate | 1.54% | Down from 1.74% | - The COVID-19 pandemic has adversely impacted the business by reducing in-person sales, disrupting commercial services (bars, restaurants, hotels), and potentially affecting subscribers' ability to pay. In response, the company paused service for **250,000** commercial accounts, removing them from the subscriber count[425](index=425&type=chunk)[427](index=427&type=chunk)[521](index=521&type=chunk) - The company has shifted its wireless strategy from a narrowband IoT network to a full 5G broadband network deployment. This led to a **$253 million** impairment of assets that will not be used in the 5G network. The total estimated cost for the 5G deployment is approximately **$10 billion**[466](index=466&type=chunk)[583](index=583&type=chunk) - Free cash flow for Q1 2020 was **$537 million**, an increase from **$322 million** in Q1 2019, primarily due to higher net cash from operating activities[550](index=550&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=168&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk occurred during Q1 2020, with further details available in the 2019 Annual Report on Form 10-K - There were no material changes to the company's market risk exposure during the three months ended March 31, 2020[592](index=592&type=chunk) [Controls and Procedures](index=168&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2020, with no material changes to internal controls, while monitoring COVID-19 impacts - The CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the reporting period[593](index=593&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[594](index=594&type=chunk) [PART II — OTHER INFORMATION](index=168&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) [Legal Proceedings](index=168&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 10 of the financial statements for detailed information on ongoing legal proceedings - For information on legal proceedings, the report directs readers to Note 10, "Commitments and Contingencies – Litigation," in the Notes to the Condensed Consolidated Financial Statements[596](index=596&type=chunk) [Risk Factors](index=168&type=section&id=Item%201A.%20Risk%20Factors) This section updates risk factors, focusing on the significant adverse impacts of the COVID-19 pandemic on business operations, subscriber activations, and supply chains - The COVID-19 pandemic is presented as a significant risk factor that has already adversely impacted the business and could have a material adverse effect on future financial condition and results[598](index=598&type=chunk)[599](index=599&type=chunk) - Specific risks exacerbated by the pandemic include: - Fewer subscriber activations and potentially higher churn due to economic weakness, social distancing impacting in-home installations, and reduced operations of commercial customers (e.g., bars, restaurants) - Potential difficulty in satisfying long-term payment obligations, including for the 5G network deployment, due to weakness in capital markets - Disruptions to the supply chain, which could delay the 5G network deployment and impact pay-TV operations - A large portion of the workforce working remotely, increasing risks to IT infrastructure and cybersecurity - The possibility that anticipated benefits from the acquisition of Sprint's Prepaid Business may be materially and adversely affected[602](index=602&type=chunk)[604](index=604&type=chunk)[608](index=608&type=chunk)[609](index=609&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=171&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no Class A common stock repurchases in Q1 2020, with a **$1.0 billion** repurchase program remaining active through December 31, 2020 Issuer Purchases of Equity Securities (Q1 2020) | Period | Total Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 1 - Jan 31, 2020 | 0 | $0 | | Feb 1 - Feb 29, 2020 | 0 | $0 | | Mar 1 - Mar 31, 2020 | 0 | $0 | | **Total** | **0** | **$0** | - A stock repurchase program authorizing up to **$1.0 billion** in purchases of Class A common stock remains active, with the full amount available as of March 31, 2020. The program is authorized through December 31, 2020[610](index=610&type=chunk) [Exhibits](index=172&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including CEO/CFO certifications and financial statements in iXBRL format - Exhibits filed with the report include CEO and CFO certifications (Exhibits 31.1, 31.2, 32.1, 32.2) and financial data in iXBRL format (Exhibit 101)[613](index=613&type=chunk)

Part I [Item 1. Business](index=13&type=section&id=Item%201.%20Business) DISH Network operates Pay-TV and Wireless segments, serving 11.986 million Pay-TV subscribers and investing heavily in 5G network deployment, while facing intense competition and significant FCC regulation - The company's wireless strategy involves significant investment, totaling over **$21 billion** since 2008 for spectrum licenses and related assets, with plans to deploy a nationwide 5G network[55](index=55&type=chunk)[86](index=86&type=chunk) - DISH entered into an Asset Purchase Agreement with T-Mobile and Sprint to acquire Sprint's prepaid mobile businesses (Boost Mobile, Virgin Mobile) for **$1.4 billion**, contingent on the Sprint-T-Mobile merger[52](index=52&type=chunk)[72](index=72&type=chunk) - The company has committed to the FCC to deploy a nationwide 5G broadband network with specific population coverage targets by 2023 and 2025 across its various spectrum bands. Failure to meet these commitments could result in voluntary contributions up to **$2.2 billion**[79](index=79&type=chunk)[83](index=83&type=chunk) Subscriber Count as of December 31, 2019 | Subscriber Type | Count (in millions) | | :--- | :--- | | **Total Pay-TV** | **11.986** | | DISH TV | 9.394 | | Sling TV | 2.592 | [Overview](index=13&type=section&id=Overview) DISH Network Corporation operates two main business segments: Pay-TV (DISH and Sling brands) and Wireless, focused on 5G network deployment, with recent strategic moves including acquiring EchoStar's BSS Business and Sprint's prepaid mobile business - The company operates two primary business segments: **Pay-TV** (DISH and Sling brands) and **Wireless**[43](index=43&type=chunk)[44](index=44&type=chunk) - In September 2019, DISH completed the acquisition of EchoStar's BSS (broadcast satellite operations and services) Business through a tax-free spin-off and merger[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk) - An agreement was made in July 2019 to acquire Sprint's prepaid mobile businesses (Boost Mobile, Virgin Mobile) for **$1.4 billion**, contingent upon the T-Mobile/Sprint merger[51](index=51&type=chunk)[52](index=52&type=chunk) - Total investment in wireless spectrum licenses and related assets has exceeded **$21 billion** since 2008, with an additional **$5 billion** in capitalized interest[55](index=55&type=chunk) [Business Strategy](index=17&type=section&id=Business%20Strategy) DISH's Pay-TV strategy focuses on technology and value, while its wireless strategy involves acquiring Sprint's prepaid business and deploying a nationwide 5G network with significant build-out commitments and potential penalties - The Pay-TV strategy is to be the best video provider through superior technology (e.g., Hopper DVR), customer service, and value (e.g., price guarantees, low-cost Sling services)[58](index=58&type=chunk)[59](index=59&type=chunk)[62](index=62&type=chunk) - The wireless strategy involves acquiring Sprint's prepaid business for **$1.4 billion** and its 800 MHz spectrum for an additional **$3.59 billion**, positioning DISH as a new national wireless competitor[72](index=72&type=chunk)[73](index=73&type=chunk) - As part of the Sprint deal, DISH has made binding commitments to the DOJ and FCC to deploy a nationwide 5G network, covering at least **70% of the U.S. population by June 2023**[77](index=77&type=chunk)[79](index=79&type=chunk)[83](index=83&type=chunk) - Failure to meet the 5G build-out commitments could result in voluntary contributions to the FCC totaling up to **$2.2 billion** and potential forfeiture of certain spectrum licenses[79](index=79&type=chunk) - The company paused its narrowband IoT deployment in October 2019 and now expects total expenditures for its 5G Network Deployment to be approximately **$10 billion**, excluding capitalized interest[85](index=85&type=chunk)[88](index=88&type=chunk) [Competition](index=31&type=section&id=Competition) DISH faces intense competition in the mature pay-TV market from traditional providers and growing OTT services, exacerbated by industry consolidation and changing consumer behavior - The company faces substantial competition from traditional pay-TV providers (AT&T, Comcast, Charter) and a rapidly growing number of internet-based video providers (Netflix, Hulu, Apple, Amazon, Disney+)[103](index=103&type=chunk)[104](index=104&type=chunk)[108](index=108&type=chunk) - Industry consolidation, such as AT&T's acquisition of DirecTV and Time Warner, has created competitors with greater scale and leverage, making it more difficult for DISH to obtain programming on non-discriminatory terms[104](index=104&type=chunk) - A programming dispute with AT&T led to the removal of HBO and Cinemax channels from DISH TV and Sling TV in October 2018, as AT&T now offers this content directly to consumers[104](index=104&type=chunk)[106](index=106&type=chunk) - Changing consumer behavior, including **"cord-cutting"** and a preference for on-demand, mobile viewing, poses a significant threat to the traditional DISH TV subscriber base[107](index=107&type=chunk)[262](index=262&type=chunk) [Government Regulations](index=40&type=section&id=Government%20Regulations) DISH's operations are heavily regulated by the FCC, covering satellite licensing, retransmission consent, program access rules, and strict build-out requirements for its extensive wireless spectrum holdings - The FCC has broad authority over DISH's DBS operations, including the assignment of satellite radio frequencies, orbital locations, and licensing[139](index=139&type=chunk) - The company must obtain retransmission consent from local broadcast stations to carry their signals, and the rates for this consent have been increasing substantially, leading to more frequent negotiating impasses[157](index=157&type=chunk) - The expiration of the FCC's prohibition on exclusive contracts with cable-affiliated programmers may limit DISH's ability to access certain programming on non-discriminatory terms[165](index=165&type=chunk)[166](index=166&type=chunk) - All of DISH's wireless spectrum licenses are subject to specific FCC build-out requirements and renewal conditions. Failure to meet these requirements can result in the termination of licenses[138](index=138&type=chunk)[192](index=192&type=chunk)[195](index=195&type=chunk) [Item 1A. Risk Factors](index=71&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from intense competition, rising operational costs, substantial capital requirements for wireless expansion, and ongoing legal and regulatory challenges - **Competition/Economic:** Intense competition from bundled service providers and OTT services is causing subscriber churn and pressure on pricing. Changing consumer behavior towards streaming is a major threat[246](index=246&type=chunk)[260](index=260&type=chunk) - **Operational:** Increasing programming expenses, particularly for local and sports content, pressure margins. The business is dependent on third-party programming, key technology vendors, and the operational integrity of its satellite fleet[287](index=287&type=chunk)[291](index=291&type=chunk)[315](index=315&type=chunk) - **Acquisition/Capital:** The company has made substantial investments in wireless spectrum and faces significant risks and capital requirements to build out a 5G network and compete in the wireless industry. The pending acquisition of Sprint's prepaid business also carries integration risks[351](index=351&type=chunk)[426](index=426&type=chunk)[441](index=441&type=chunk) - **Legal/Regulatory:** Ongoing telemarketing litigation could result in a **$280 million** payment and injunctive relief. The business is also subject to extensive FCC regulation, including strict build-out requirements for its wireless licenses, which if not met, could lead to license revocation[479](index=479&type=chunk)[434](index=434&type=chunk) [Item 1B. Unresolved Staff Comments](index=148&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments from the Securities and Exchange Commission - There are no unresolved staff comments[519](index=519&type=chunk) [Item 2. Properties](index=149&type=section&id=Item%202.%20Properties) DISH Network's principal properties include its corporate headquarters, customer call centers, digital broadcast operations centers, and a fleet of 13 satellites - Key owned and leased properties include the corporate headquarters in Englewood, CO, and major digital broadcast centers in Cheyenne, WY, and Gilbert, AZ[522](index=522&type=chunk) - The company operates a network of customer call centers, warehouses, and service centers across the country, in locations such as Texas, Virginia, and Arizona[522](index=522&type=chunk) - A major component of the company's property is its fleet of **13 owned or leased satellites** used for its DISH TV services[523](index=523&type=chunk) [Item 3. Legal Proceedings](index=150&type=section&id=Item%203.%20Legal%20Proceedings) This section refers to Note 15 of the Consolidated Financial Statements for information regarding the company's legal proceedings - Information regarding legal proceedings is detailed in Note 15 of the Consolidated Financial Statements[525](index=525&type=chunk) [Item 4. Mine Safety Disclosures](index=150&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's operations - Not applicable[526](index=526&type=chunk) Part II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=150&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) DISH Network's Class A common stock trades on Nasdaq, with a **$1.0 billion** stock repurchase program authorized through December 2020, though no shares were repurchased in Q4 2019 - The company's Class A common stock is traded on the Nasdaq under the symbol **"DISH"**[527](index=527&type=chunk) - A stock repurchase program for up to **$1.0 billion** of Class A common stock is authorized through December 31, 2020[530](index=530&type=chunk) - No shares of Class A common stock were repurchased during the fourth quarter of 2019[532](index=532&type=chunk) [Item 6. Selected Financial Data](index=152&type=section&id=Item%206.%20Selected%20Financial%20Data) Selected financial data shows declining revenue and Pay-TV subscribers from 2015-2019, with volatile net income and growing total assets driven by wireless spectrum investments Selected Financial Data (2015-2019) | Metric (in millions, except per share) | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $12,808 | $13,621 | $14,391 | $15,212 | $15,225 | | **Net Income** | $1,400 | $1,575 | $2,099 | $1,498 | $802 | | **Total Assets** | $33,231 | $30,587 | $29,774 | $27,914 | $22,665 | | **Long-Term Debt** | $14,140 | $15,153 | $16,203 | $16,484 | $13,763 | | **Diluted EPS** | $2.60 | $3.00 | $4.07 | $3.15 | $1.73 | Selected Operating Data (2015-2019) | Metric (subscribers in millions) | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Pay-TV Subscribers (End of Period)** | 11.986 | 12.322 | 13.242 | 13.671 | 13.897 | | DISH TV Subscribers | 9.394 | 9.905 | 11.030 | 12.170 | 13.274 | | Sling TV Subscribers | 2.592 | 2.417 | 2.212 | 1.501 | 0.623 | | **Pay-TV ARPU** | $85.92 | $85.46 | $86.43 | $88.66 | $86.79 | | **DISH TV Churn Rate** | 1.62% | 1.78% | 1.78% | 1.97% | 1.75% | | **DISH TV SAC** | $822 | $759 | $751 | $832 | $822 | [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=153&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) DISH Network's 2019 revenue and net income declined due to Pay-TV subscriber losses, while the company focuses on wireless investments and maintains solid liquidity for future capital requirements 2019 Financial and Operational Highlights | Metric | 2019 Value | | :--- | :--- | | Revenue | $12.808 billion | | Net Income | $1.400 billion | | Diluted EPS | $2.60 | | Net Pay-TV Subscriber Change | (336,000) | | Pay-TV ARPU | $85.92 | | DISH TV Churn Rate | 1.62% | | DISH TV SAC | $822 | | Cash and Marketable Securities | $2.860 billion | - The decline in the DISH TV subscriber base continues to be a primary challenge, driven by a mature market and intense competition from both traditional and OTT providers[545](index=545&type=chunk)[597](index=597&type=chunk) - The company's liquidity remains solid, with **$2.86 billion** in cash and marketable securities at year-end, supported by **$2.7 billion** in cash from operations and a **$1.0 billion** rights offering[651](index=651&type=chunk)[659](index=659&type=chunk)[665](index=665&type=chunk) - Future capital requirements are substantial, driven by the planned **$10 billion** 5G network deployment and the **$1.4 billion** acquisition of Sprint's prepaid business[687](index=687&type=chunk)[694](index=694&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=209&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate exposure, affecting its short-duration investment portfolio and the fair value of its fixed-rate long-term debt - The company's main market risk is interest rate risk affecting its investment portfolio and the fair value of its debt[737](index=737&type=chunk) - The **$2.86 billion** cash and marketable securities portfolio is primarily in short-term instruments, mitigating fair value risk from interest rate changes[738](index=738&type=chunk)[739](index=739&type=chunk) - All of the company's **$14.67 billion** in long-term debt is fixed-rate, protecting it from increased interest expense due to rising rates, although the fair value of the debt is sensitive to rate changes[743](index=743&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=211&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section indicates that the company's consolidated financial statements and selected quarterly financial data are included in the report, beginning on page F-1 - The company's consolidated financial statements are included in the report starting on page F-1[745](index=745&type=chunk) [Item 9A. Controls and Procedures](index=211&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2019, with no material changes during the quarter - Management concluded that disclosure controls and procedures were effective as of December 31, 2019[747](index=747&type=chunk) - There were no material changes in internal control over financial reporting during the fourth quarter of 2019[749](index=749&type=chunk) - The company's internal control over financial reporting was deemed effective as of December 31, 2019, based on the COSO framework, and this assessment was audited by KPMG LLP[753](index=753&type=chunk)[754](index=754&type=chunk) Part III [Item 10. Directors, Executive Officers and Corporate Governance](index=213&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's 2020 Proxy Statement - This information is incorporated by reference from the company's 2020 Proxy Statement[755](index=755&type=chunk) [Item 11. Executive Compensation](index=215&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's 2020 Proxy Statement - This information is incorporated by reference from the company's 2020 Proxy Statement[757](index=757&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=215&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership and related stockholder matters is incorporated by reference from the company's 2020 Proxy Statement - This information is incorporated by reference from the company's 2020 Proxy Statement[758](index=758&type=chunk) [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=215&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information regarding certain relationships, related transactions, and director independence is incorporated by reference from the company's 2020 Proxy Statement - This information is incorporated by reference from the company's 2020 Proxy Statement[759](index=759&type=chunk) [Item 14. Principal Accounting Fees and Services](index=215&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding principal accounting fees and services is incorporated by reference from the company's 2020 Proxy Statement - This information is incorporated by reference from the company's 2020 Proxy Statement[760](index=760&type=chunk) Part IV [Item 15. Exhibits, Financial Statement Schedules](index=215&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section lists the financial statements, schedules, and exhibits filed with the Form 10-K, including key agreements and debt indentures - This section contains the index to the Consolidated Financial Statements and a list of all exhibits filed with the 10-K[761](index=761&type=chunk)[762](index=762&type=chunk) [Item 16. Form 10-K Summary](index=229&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company has not provided a summary for its Form 10-K - None provided[792](index=792&type=chunk) Financial Statements and Notes [Consolidated Financial Statements](index=232&type=section&id=Consolidated%20Financial%20Statements) DISH Network reported declining revenues and net income in 2019, with growing assets due to wireless investments, and maintained strong operating cash flow Consolidated Statement of Operations Highlights (2019 vs. 2018) | Line Item (in billions) | 2019 | 2018 | | :--- | :--- | :--- | | **Total Revenue** | $12.81 | $13.62 | | Operating Income | $1.88 | $2.15 | | **Net Income (attributable to DISH)** | **$1.40** | **$1.58** | | Diluted EPS | $2.60 | $3.00 | Consolidated Balance Sheet Highlights (as of Dec 31) | Line Item (in billions) | 2019 | 2018 | | :--- | :--- | :--- | | Cash, Cash Equivalents & Marketable Securities | $2.86 | $2.07 | | FCC Authorizations | $25.78 | $24.74 | | **Total Assets** | **$33.23** | **$30.59** | | Long-Term Debt & Finance Lease Obligations | $14.14 | $15.15 | | **Total Stockholders' Equity** | **$11.56** | **$8.59** | Consolidated Cash Flow Highlights (2019 vs. 2018) | Line Item (in billions) | 2019 | 2018 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | **$2.66** | **$2.52** | | Net Cash from Investing Activities | ($0.72) | ($1.98) | | Net Cash from Financing Activities | ($0.33) | ($1.13) | [Notes to Consolidated Financial Statements](index=241&type=section&id=Notes%20to%20Financial%20Statements) These notes detail accounting policies, strategic acquisitions, wireless spectrum commitments, debt instruments, significant litigation, and extensive related-party transactions with EchoStar - **Note 1:** Details the acquisition of EchoStar's BSS Business and the pending **$1.4 billion** acquisition of Sprint's prepaid business, which are central to the company's strategy[830](index=830&type=chunk)[837](index=837&type=chunk) - **Note 2 & 8:** Explains the accounting for significant assets, including the capitalization of interest on wireless spectrum licenses and the impairment testing of satellites and other long-lived assets[894](index=894&type=chunk)[983](index=983&type=chunk)[984](index=984&type=chunk) - **Note 10:** Provides a detailed breakdown of the company's **$14.14 billion** in long-term debt and finance lease obligations, including terms for its various senior and convertible notes[1006](index=1006&type=chunk) - **Note 15:** Outlines major commitments and contingencies, including contractual obligations, extensive details on wireless build-out requirements, and significant litigation like the FTC Action (**$280 million** accrual) and the Krakauer Action (**$61 million** judgment paid in 2019)[1103](index=1103&type=chunk)[1258](index=1258&type=chunk)[1261](index=1261&type=chunk) - **Note 19:** Details the extensive related-party transactions with EchoStar, governed by various agreements for satellite capacity, real estate leases, and professional services, reflecting the common control by Chairman Charles W. Ergen[1296](index=1296&type=chunk)[1297](index=1297&type=chunk)

Table of Contents 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, 2019. OR ☐ 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: 0-26176 DISH Network Corporation (Exact name of registrant as specified in its charter) Nevada 88-0336997 ...

Table of Contents 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 JUNE 30, 2019. OR ☐ 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: 0-26176 DISH Network Corporation (Exact name of registrant as specified in its charter) Nevada 88-0336997 (Stat ...