Maxar (MAXR) 10-Q 3 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 26, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	001-38228
Entity Registrant Name	Maxar Technologies Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2809420
Entity Address, Address Line One	1300 W. 120th Avenue,
Entity Address, City or Town	Westminster
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80234
City Area Code	303
Local Phone Number	684-7660
Security 12b Title	Common stock par value of $0.0001 per share
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	MAXR
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		71,862,210
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001121142
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Total revenues	$ 392	$ 381
Costs and expenses:
Selling, general and administrative	84	68
Depreciation and amortization	74	90
Impairment loss		14
Operating loss	(7)	(29)
Interest expense, net	(78)	(49)
Other income, net	(1)	(3)
Loss before taxes	(84)	(75)
Income tax expense		2
Equity in loss from joint ventures, net of tax		1
Loss from continuing operations	(84)	(78)
Income from discontinued operations, net of tax		30
Net loss	$ (84)	$ (48)
Basic net income (loss) per common share:
Basic loss from continuing operations (in dollars per share)	$ (1.30)	$ (1.30)
Basic income from discontinued operations, net of tax (in dollars per share)		0.50
Basic net loss per common share (in dollars per share)	(1.30)	(0.80)
Diluted net income (loss) per common share:
Diluted loss from continued operations (in dollars per share)	(1.30)	(1.30)
Diluted income from discontinued operations, net of tax (in dollars per share)		0.50
Diluted net loss per common share (in dollars per share)	$ (1.30)	$ (0.80)
Product
Revenues:
Total revenues	$ 142	$ 107
Costs and expenses:
Product and service costs, excluding depreciation and amortization	148	145
Service
Revenues:
Total revenues	250	274
Costs and expenses:
Product and service costs, excluding depreciation and amortization	$ 93	$ 93

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Comprehensive Income (Loss)
Net loss	$ (84)	$ (48)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(1)	(49)
Unrealized gain (loss) on interest rate swaps	6	(15)
Gain on pension and other postretirement benefit plans	1	1
Other comprehensive income (loss), net of tax	6	(63)
Comprehensive loss, net of tax	$ (78)	$ (111)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 22	$ 27
Trade and other receivables, net	318	327
Inventory	38	31
Advances to suppliers	27	24
Prepaid and other current assets	58	59
Total current assets	463	468
Non-current assets:
Orbital receivables, net	339	361
Property, plant and equipment, net	889	883
Intangible assets, net	867	895
Non-current operating lease assets	156	163
Goodwill	1,627	1,627
Other non-current assets	84	86
Total assets	4,425	4,483
Current liabilities:
Accounts payable	104	115
Accrued liabilities	77	65
Accrued compensation and benefits	76	105
Contract liabilities	284	278
Current portion of long-term debt	8	8
Current operating lease liabilities	41	41
Other current liabilities	48	51
Total current liabilities	638	663
Non-current liabilities:
Pension and other postretirement benefits	189	192
Contract liabilities	1	1
Operating lease liabilities	151	158
Long-term debt	2,098	2,414
Other non-current liabilities	101	119
Total liabilities	3,178	3,547
Commitments and contingencies
Stockholders' equity:
Common stock ($0.0001 par value, 240 million common shares authorized; 71.7 million and 61.2 million outstanding at March 31, 2021 and December 31, 2020, respectively)
Additional paid-in capital	2,207	1,818
Accumulated deficit	(847)	(763)
Accumulated other comprehensive loss	(114)	(120)
Total Maxar stockholders' equity	1,246	935
Noncontrolling interest	1	1
Total stockholders' equity	1,247	936
Total liabilities and stockholders' equity	$ 4,425	$ 4,483

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Consolidated Balance Sheets
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized shares	240,000,000	240,000,000
Common stock, shares outstanding	71,700,000	61,200,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows (used in) provided by Operating activities:
Net loss	$ (84)	$ (48)
Income from operations of discontinued operations, net of tax		30
Loss from continuing operations	(84)	(78)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Impairment loss		14
Depreciation and amortization	74	90
Amortization of debt issuance costs and other non-cash interest expense	4	4
Stock-based compensation expense	11	3
Loss from early extinguishment of debt	41
Cumulative adjustment to SXM-7 revenue	25
Other	4	(1)
Changes in operating assets and liabilities:
Trade and other receivables	3	47
Accounts payable and liabilities	(49)	(39)
Contract liabilities	6	(52)
Other	(8)	(1)
Cash provided by (used in) operating activities - continuing operations	27	(13)
Cash used in operating activities - discontinued operations		(2)
Cash provided by (used in) operating activities	27	(15)
Investing activities:
Purchase of property, plant and equipment and development or purchase of software	(50)	(60)
Return of capital from discontinued operations		11
Cash used in investing activities - continuing operations	(50)	(49)
Cash used in investing activities - discontinued operations		(3)
Cash used in investing activities	(50)	(52)
Financing activities:
Net proceeds of revolving credit facility	25	15
Repurchase of 2023 Notes, including premium	(384)
Net proceeds from issuance of common stock	380
Repayments of long-term debt	(2)	(7)
Settlement of securitization liability	(3)	(4)
Other	1
Cash provided by financing activities - continuing operations	17	4
Cash used in financing activities - discontinued operations		(15)
Cash provided by (used in) financing activities	17	(11)
Decrease in cash, cash equivalents, and restricted cash	(6)	(78)
Cash, cash equivalents, and restricted cash, beginning of year	32	109
Cash, cash equivalents, and restricted cash, end of period	$ 26	$ 31

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Mar. 31, 2020
Reconciliation of cash flow information:
Cash and cash equivalents	$ 22	$ 27
Restricted cash included in prepaid and other current assets	4	1
Restricted cash included in other non-current assets		3
Total cash, cash equivalents, and restricted cash	$ 26	$ 31

Consolidated Statements of Chan

Consolidated Statements of Change in Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Common Stock	Additional paid in capital	Accumulated Deficit	Accumulated other comprehensive income (loss)	Noncontrolling interest	Total
Balance at the beginning of period at Dec. 31, 2019		$ 1,784	$ (1,064)	$ 41	$ 1	$ 762
Balance at the beginning of period (in shares) at Dec. 31, 2019	59.9
Increase (Decrease) in Shareholders' Equity
Common stock issued under employee stock purchase plan		2				2
Common stock issued under employee stock purchase plan (in shares)	0.2
Equity classified stock-based compensation expense		4				4
Comprehensive loss			(48)	(63)		(111)
Balance at the end of period at Mar. 31, 2020		1,790	(1,112)	(22)	1	657
Balance at the end of period (in shares) at Mar. 31, 2020	60.1
Balance at the beginning of period at Dec. 31, 2020		1,818	(763)	(120)	1	$ 936
Balance at the beginning of period (in shares) at Dec. 31, 2020	61.2					61.2
Increase (Decrease) in Shareholders' Equity
Common stock issuance, net of transaction fees		380				$ 380
Common stock issuance, net of transaction fees (in shares)	10
Common stock issued under employee stock purchase plan		2				2
Common stock issued under employee stock purchase plan (in shares)	0.1
Equity classified stock-based compensation expense		7				7
Equity classified stock-based compensation expense (in shares)	0.4
Comprehensive loss			(84)	6		(78)
Balance at the end of period at Mar. 31, 2021		$ 2,207	$ (847)	$ (114)	$ 1	$ 1,247
Balance at the end of period (in shares) at Mar. 31, 2021	71.7					71.7

Consolidated Statements of Ch_2

Consolidated Statements of Change in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Change in Stockholders' Equity
Dividends per share (in dollars per share)	$ 0.01	$ 0.01

General business description

General business description	3 Months Ended
	Mar. 31, 2021
General business description
General business description	1. GENERAL BUSINESS DESCRIPTION Maxar Technologies Inc. (the “Company” or “Maxar”) is a partner and innovator in Earth Intelligence and Space Infrastructure. Maxar delivers value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. The Company’s approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with speed, scale and cost effectiveness.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2021
Summary of significant accounting policies
Summary of significant accounting policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation ​ The Unaudited Condensed Consolidated Financial Statements include the accounts of Maxar Technologies Inc., and all consolidated subsidiary entities. The Company’s Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). All intercompany balances and transactions are eliminated on consolidation. ​ The Company’s Unaudited Condensed Consolidated Financial Statements are presented in U.S. dollars and have been prepared on a historical cost basis, except for certain financial assets and liabilities including derivative financial instruments which are stated at fair value. References to “C$” refer to Canadian currency. ​ The Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Company’s annual audited consolidated financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K filed with the SEC. Unless otherwise indicated, amounts provided in the Notes to the Unaudited Condensed Consolidated Financial Statements pertain to continuing operations (See Note 3 for information on discontinued operations). Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. In management’s opinion, all adjustments of a normal recurring nature that are necessary for a fair statement of the accompanying Unaudited Condensed Consolidated Financial Statements have been included. ​ Use of estimates, assumptions and judgments ​ The preparation of the Unaudited Condensed Consolidated Financial Statements in accordance with U.S. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the reporting date, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared using the most current and best available information; however, actual results could differ materially from those estimates. Purchase Price Allocation On July 1, 2020, the Company closed the acquisition of Vricon, Inc. During the three months ended March 31, 2021, the Company finalized the purchase price allocation related to the acquisition. There were no adjustments from the preliminary purchase price allocation determined as of December 31, 2020. Recent Accounting Guidance Not Yet Adopted Reference Rate Reform ​ In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which together with subsequent amendments is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate and other interbank offered rates to alternative reference rates. This guidance was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company expects that it will elect to apply some of the expedients and exceptions in ASU 2020-04. However, the Company is still evaluating the guidance and the impact that adoption of ASU 2020-04 will have on the Company's financial statements.

Discontinued operations

Discontinued operations	3 Months Ended
	Mar. 31, 2021
Discontinued operations
Discontinued operations	3 . DISCONTINUED OPERATIONS On April 8, 2020, the Company completed the sale of the Company’s former Canadian subsidiary (“MDA Business”), to Neptune Acquisition Inc., a corporation existing under the laws of the Province of British Columbia and an affiliate of Northern Private Capital Ltd. (“MDA Purchaser”), for an aggregate purchase price of $729 million (C $1.0 billion) (“MDA Transaction”). The Company recognized an after-tax gain on disposal of discontinued operations of $ 317 million, net of $ 12 million in taxes, on the MDA Transaction for the year ended December 31, 2020. The operating results and cash flows related to the MDA Business are reflected as discontinued operations in the Unaudited Condensed Consolidated Statements of Operations and the Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2020. There was no activity within discontinued operations for the three months ended March 31, 2021. ​ In addition, the Company and the MDA Purchaser entered into a Transition Services Agreement pursuant to which the MDA Purchaser would receive certain services (“Services”). The Services were provided based on an agreed upon fee arrangement through April 8, 2021. ​ Income from discontinued operations, net of tax for the MDA Business in the Unaudited Condensed Consolidated Statement of Operations consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, 2020 Revenues: ​ ​ ​ Product ​ $ 39 Service ​ ​ 36 Total revenues ​ ​ 75 Costs and expenses: ​ ​ ​ Product costs, excluding depreciation and amortization ​ ​ 34 Service costs, excluding depreciation and amortization ​ ​ 21 Selling, general and administrative ​ ​ 13 Depreciation and amortization ​ ​ 4 Impairment loss ​ ​ 12 Operating loss ​ ​ (9) Interest expense, net ​ ​ 1 Other income, net 1 ​ ​ (36) Income before taxes ​ 26 Income tax benefit ​ ​ (4) Income from discontinued operations, net of tax ​ $ 30 ​ 1 Other income, net includes the $39 million recovery of the previously recorded liability in relation to the Company’s dispute with a customer for the three months ended March 31, 2020.

Trade and other receivables, ne

Trade and other receivables, net	3 Months Ended
	Mar. 31, 2021
Trade and other receivables, net
Trade and other receivables, net	4. TRADE AND OTHER RECEIVABLES, NET ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Billed $ 158 ​ $ 181 Unbilled 111 ​ 95 Total trade receivables ​ 269 ​ ​ 276 Orbital receivables, current portion ​ 49 ​ ​ 49 Other ​ 1 ​ ​ 3 Allowance for doubtful accounts ​ (1) ​ ​ (1) Trade and other receivables, net $ 318 ​ $ 327 ​ During the first quarter of 2021, the Company reduced its outstanding receivables related to the SXM-7 satellite for the final milestone and expected orbital payments of $15 million and $14 million, respectively. ​ The Company had orbital receivables from 14 customers for which the largest customer’s value represents 22% and 19% of the stated balance sheet value as of March 31, 2021 and December 31, 2020, respectively. ​ As of March 31, 2021 and December 31, 2020, non-current orbital receivables, net of allowance for expected credit losses were $339 million and $361 million, respectively. ​ The changes in allowance for expected credit losses related to non-current orbital receivables for the three months ended March 31, 2021, consist of the following: ​ ​ ​ ​ ​ ​ ​ Orbital Receivables Allowance Allowance as of December 31, 2020 ​ $ (49) Additions ​ — Allowance as of March 31, 2021 ​ $ (49) ​ Securitization liabilities as of March 31, 2021 and December 31, 2020, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Current portion $ 14 ​ $ 14 Non-current portion 44 ​ 47 Total securitization liabilities $ 58 ​ $ 61 ​

Inventory

Inventory	3 Months Ended
	Mar. 31, 2021
Inventory
Inventory	5 . INVENTORY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Raw materials ​ $ 27 ​ $ 22 Work in process ​ ​ 11 ​ ​ 9 Inventory ​ $ 38 ​ $ 31 ​

Property, plant and equipment,

Property, plant and equipment, net	3 Months Ended
	Mar. 31, 2021
Property, plant and equipment, net
Property, plant and equipment, net	6 . ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Satellites ​ $ 397 ​ $ 397 Equipment ​ ​ 213 ​ ​ 207 Computer hardware ​ ​ 91 ​ ​ 78 Leasehold improvements ​ ​ 82 ​ ​ 81 Furniture and fixtures ​ ​ 15 ​ ​ 15 Construction in process 1 ​ ​ 579 ​ ​ 572 Property, plant and equipment, at cost ​ ​ 1,377 ​ ​ 1,350 Accumulated depreciation ​ (488) ​ ​ (467) Property, plant and equipment, net ​ $ 889 ​ $ 883 ​ 1 ​ Depreciation expense for property, plant and equipment was $23 million and $24 million for the three months ended March 31, 2021 and 2020, respectively.

Intangible assets and goodwill

Intangible assets and goodwill	3 Months Ended
	Mar. 31, 2021
Intangible assets and goodwill
Intangible assets and goodwill	7. INTANGIBLE ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ Gross carrying value ​ Accumulated amortization ​ Net carrying value ​ Gross carrying value ​ Accumulated amortization ​ Net carrying value Customer relationships ​ $ 615 ​ $ (157) ​ $ 458 ​ $ 615 ​ $ (146) ​ $ 469 Technologies ​ ​ 369 ​ ​ (228) ​ ​ 141 ​ ​ 369 ​ ​ (211) ​ ​ 158 Software ​ ​ 320 ​ ​ (135) ​ ​ 185 ​ ​ 298 ​ ​ (125) ​ ​ 173 Backlog ​ 129 ​ (87) ​ 42 ​ 129 ​ (79) ​ 50 Image library ​ ​ 80 ​ ​ (61) ​ ​ 19 ​ ​ 80 ​ ​ (58) ​ ​ 22 Trade names and other ​ ​ 38 ​ ​ (16) ​ ​ 22 ​ ​ 38 ​ ​ (15) ​ ​ 23 Intangible assets ​ $ 1,551 ​ $ (684) ​ $ 867 ​ $ 1,529 ​ $ (634) ​ $ 895 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization expense related to intangible assets was $51 million and $66 million for the three months ended March 31, 2021 and 2020, respectively.

Long-term debt and interest exp

Long-term debt and interest expense, net	3 Months Ended
	Mar. 31, 2021
Long-term debt and interest expense, net
Long-term debt and interest expense, net	8 . LONG-TERM DEBT AND INTEREST EXPENSE , NET ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Syndicated Credit Facility: ​ ​ ​ ​ ​ Revolving Credit Facility ​ $ 25 ​ $ — Term Loan B ​ ​ 1,444 ​ ​ 1,444 2023 Notes ​ ​ 500 ​ ​ 850 2027 Notes ​ ​ 150 ​ ​ 150 Deferred financing ​ ​ 30 ​ ​ 32 Debt discount and issuance costs ​ (47) ​ (57) Obligations under finance leases and other ​ 4 ​ 3 Total long-term debt ​ 2,106 ​ 2,422 Current portion of long-term debt ​ (8) ​ (8) Non-current portion of long-term debt ​ $ 2,098 ​ $ 2,414 ​ The Company’s senior secured syndicated credit facility (“Syndicated Credit Facility”) is composed of: (i) a senior secured first lien revolving credit facility in an aggregate capacity of up to $500 million maturing in December 2023 (“Revolving Credit Facility”) and (ii) a senior secured first lien term B facility in an original aggregate principal amount of $2.0 billion maturing in October 2024 (“Term Loan B”). ​ The maximum consolidated debt leverage ratios permitted under the Original Syndicated Credit Facility are 7.50x at the end of each fiscal quarter until the fiscal quarter ending September 30, 2021, 7.25x at the end of each fiscal quarter thereafter until the quarter ending September 30, 2022, 6.25x at the end of each fiscal quarter thereafter until the fiscal quarter ending March 31, 2023, and 5.50x for each fiscal quarter thereafter (subject to a 0.25x reduction in each maximum level upon a disposition of a business line for greater than $500 million). ​ The Revolving Credit Facility includes an aggregate $200 million sub limit under which letters of credit can be issued. As of March 31, 2021 and December 31, 2020, the Company had $25 million and $31 million, respectively, of issued and undrawn letters of credit outstanding under the Revolving Credit Facility. ​ In December 2019, the Company issued $1.0 billion in principal amount of 9.75% Senior Secured Notes due 2023 (“2023 Notes”). The 2023 Notes were offered and sold to qualified institutional buyers in the U.S. pursuant to Rule 144A and outside the U.S. pursuant to Regulation S under the Securities Act of 1933, as amended. The 2023 Notes were issued at a price of 98% and are recorded as long-term debt in the consolidated financial statements. The 2023 Notes bear interest at the rate of 9.75% per year, payable semi-annually in cash in arrears, which interest payments commenced in June 2020. ​ On June 25, 2020, the Company repurchased $150 million aggregate principal amount of its 9.75% Senior Secured Notes due 2023 (“2023 Notes”) using proceeds from the MDA Transaction. The 2023 Notes were repurchased (“2023 Notes Repurchase”) at approximately 112.45% of the principal amount thereof, subject to customary closing conditions. ​ On June 25, 2020, the Company issued $150 million in principal amount of 7.54% Senior Secured Notes due 2027 (“2027 Notes”). The 2027 Notes were offered and sold to qualified institutional buyers in the U.S. pursuant to Rule 144A and outside the U.S. pursuant to Regulation S under the Securities Act of 1933, as amended. The 2027 Notes were issued at a price of 98.25% and bear interest at the rate of 7.54% per annum, payable semi-annually in cash in arrears, for which interest payments commenced December 2020. The 2027 Notes are guaranteed on a senior secured basis by each of the Company’s existing and future subsidiaries that guarantee the Syndicated Credit Facility and the 2023 Notes. ​ The Company accounted for the 2027 Notes and 2023 Notes Repurchase as debt modifications. As a result, the 12.45% premium paid on the repurchase of the $150 million of 2023 Notes is accounted for as an incremental discount that is amortized over the life of the 2027 Notes. Separately, the previously incurred unamortized debt discount and debt issuance costs are amortized over the remaining life of the outstanding 2023 Notes. ​ On March 26, 2021, the Company redeemed $350 million aggregate principal of its 2023 Notes using a portion of the net proceeds from the common stock offering (“Offering”). The Company paid premiums of approximately $34 million related to the early redemption. This resulted in a loss on debt extinguishment of $41 million for the three months ended March 31, 2021, which is included as part of Interest expense, net within the Unaudited Condensed Consolidated Statements of Operations. See Note 10 for additional details on the Offering. ​ Interest expense, net on long-term debt and other obligations is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 Interest on long-term debt ​ $ 44 ​ $ 54 Loss on debt extinguishment ​ ​ 41 ​ ​ — Interest on orbital securitization liability ​ ​ 1 ​ ​ 1 Imputed interest and other ​ ​ 1 ​ ​ — Interest expense on advance payments from customers ​ ​ — ​ ​ 2 Capitalized interest ​ ​ (9) ​ ​ (8) Interest expense, net ​ $ 78 ​ $ 49 ​

Financial instruments and fair

Financial instruments and fair value disclosures	3 Months Ended
	Mar. 31, 2021
Financial instruments and fair value disclosures
Financial instruments and fair value disclosures	9. FINANCIAL INSTRUMENTS AND FAIR VALUE DISCLOSURES Factors used in determining the fair value of financial assets and liabilities are summarized into three categories in accordance with ASC 820 - Fair Value Measurements: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) Level 3: Inputs for the asset or liability that are based on unobservable inputs ​ The following tables present assets and liabilities that are measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The Company had no assets measured at fair value as of March 31, 2021 and December 31, 2020, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recurring Fair Value Measurements of as of March 31, 2021 ​ ​ Level 1 ​ Level 2 ​ Level 3 ​ Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ — ​ $ 14 ​ $ — ​ $ 14 Long-term debt 1 ​ ​ — ​ ​ 2,157 ​ ​ — ​ ​ 2,157 ​ ​ $ — ​ $ 2,171 ​ $ — ​ $ 2,171 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recurring Fair Value Measurements of as of December 31, 2020 ​ ​ Level 1 ​ Level 2 ​ Level 3 ​ Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ — ​ $ 20 ​ $ — ​ $ 20 Long-term debt 1 ​ ​ — ​ ​ 2,556 ​ ​ — ​ ​ 2,556 ​ ​ $ — ​ $ 2,576 ​ $ — ​ $ 2,576 ​ 1 Long-term debt excludes finance leases, borrowings under the Revolving Credit Facility, deferred financing and other and is carried at amortized cost. The outstanding carrying value was $2,047 million and $2,387 million at March 31, 2021 and December 31, 2020, respectively. The carrying value of borrowings under the Revolving Credit Facility approximates their fair value. ​ In April 2021 ​ The Company determines fair value of its derivative financial instruments based on internal valuation models, such as discounted cash flow analysis, using management estimates and observable market-based inputs, as applicable. Management estimates include assumptions concerning the amount and timing of estimated future cash flows and application of appropriate discount rates. Observable market-based inputs are sourced from third parties and include interest rates and yield curves, currency spot and forward rates and credit spreads, as applicable. ​ The Company determines fair value of long-term debt that is actively traded in the secondary market using external pricing data, including any available quoted market prices and other observable inputs from available market information. For debt that is not actively traded in the secondary market, the fair value is based on the Company’s indicative borrowing cost derived from dealer quotes or discounted cash flows. Cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are all short-term in nature; therefore, the carrying value of these items approximates their fair value. ​ There were no transfers into or out of each of the levels of the fair value hierarchy during the periods ended March 31, 2021 and December 31, 2020.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2021
Stockholders' equity
Stockholders' Equity	1 0. STOCKHOLDERS’ EQUITY On March 22, 2021, the Company completed the Offering of 10 million shares of common stock, par value $0.0001 per share, at a public offering price of $40 per share. The Company received proceeds of $380 million, net of $20 million of transaction fees as of March 31, 2021. ​ As of March 31, 2021 and December 31, 2020, the Company had 2.4 million shares authorized and no shares outstanding of the Series A Preferred stock. ​ Changes in the components of Accumulated other comprehensive (loss) income are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency Translation Adjustments ​ Unrealized Loss on Interest Rate Swaps ​ Loss on Pension and Other Postretirement Plans ​ Total Accumulated Other Comprehensive Loss Balance as of December 31, 2020 ​ $ 1 ​ $ (20) ​ $ (101) ​ $ (120) Other comprehensive (loss) income ​ ​ (1) ​ ​ 6 ​ ​ 1 ​ ​ 6 Tax benefit (expense) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance as of March 31, 2021 ​ $ — ​ $ (14) ​ $ (100) ​ $ (114) ​

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue
Revenue	11. REVENUE On March 31, 2021, the Company had $1.8 billion of remaining performance obligations, which represents the transaction price of firm orders less inception-to-date revenues recognized. Remaining performance obligations generally exclude unexercised contract options and indefinite delivery/indefinite quantity contracts. The Company expects to recognize revenues relating to existing performance obligations of approximately $1.0 billion , $0.5 billion and $0.3 billion for the remaining nine months ended December 31, 2021, the year ending December 31, 2022 and thereafter, respectively. ​ Contract liabilities by segment are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, 2021 Earth Intelligence Space Infrastructure Total Contract liabilities ​ $ 42 ​ $ 243 ​ $ 285 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 Earth Intelligence Space Infrastructure Total Contract liabilities ​ $ 45 ​ $ 234 ​ $ 279 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The increase in contract liabilities is primarily due to cash received on a commercial contract in the Space Infrastructure segment in advance of services performed. The increase is partially offset by revenues recognized based upon the satisfaction of performance obligations. ​ The Company’s primary sources of revenues are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 Earth Intelligence Space Infrastructure Eliminations Total Product revenues ​ $ — ​ $ 142 ​ $ — ​ $ 142 Service revenues ​ 250 ​ — ​ — ​ 250 Intersegment ​ ​ — ​ 13 ​ (13) ​ — ​ ​ $ 250 ​ $ 155 ​ $ (13) ​ $ 392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 Earth Intelligence Space Infrastructure Eliminations Total Product revenues ​ $ — ​ $ 107 ​ $ — ​ $ 107 Service revenues ​ 271 ​ 3 ​ — ​ 274 Intersegment ​ ​ — ​ ​ 22 ​ ​ (22) ​ ​ — ​ ​ $ 271 ​ $ 132 ​ $ (22) ​ $ 381 ​ Certain of the Company’s contracts with customers in the Space Infrastructure segment include a significant financing component since payments are received from the customer more than one year after delivery of the promised goods or services. The Company recognized orbital interest revenue of $7 million for both the three months ended March 31, 2021 and 2020, respectively, related to these contracts, which is included in product revenues. ​ Revenue in the Space Infrastructure segment is primarily generated from long-term construction contracts. Due to the long-term nature of these contracts, the Company generally recognizes revenue over time using the cost-to-cost method of accounting to measure progress. Under the cost-to-cost method of accounting, revenue is recognized based on the proportion of total costs incurred to estimated total costs-at-completion ("EAC"). An EAC includes all direct costs and indirect costs directly attributable to a program or allocable based on program cost pooling arrangements. Estimates regarding the Company’s cost associated with the design, manufacture and delivery of products and services are used in determining the EAC. Changes to an EAC are recorded as a cumulative adjustment to revenue. ​ For the three months ended March 31, 2021, the Company recognized a $25 million cumulative adjustment to revenue related to the Sirius XM contract with Sirius XM Holdings Inc. (“Sirius XM”). This resulted primarily from adjusting the EAC transaction price for the amount of the final milestone and expected orbital payments due to the non-performance of the SXM-7 satellite and other adjustments. In addition to the cumulative adjustment, incremental costs of $3 million were incurred related to the SXM-7 recovery efforts during the three months ended March 31, 2021. ​ The Company did not ​ The Company has certain programs in the Space Infrastructure segment which contain significant development efforts that have experienced delays and cost growth primarily due to the complexity of the programs resulting in an overall loss position. During the three months ended March 31, 2021, the Company recorded $10 million in EAC adjustments on loss contracts. During the three months ended March 31, 2020, the Company recorded $19 million in EAC adjustments on a commercial satellite loss contract which included significant development efforts further delayed by COVID-19. ​ Revenues based on the geographic location of customers are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2021 2020 United States $ 323 ​ $ 302 Asia 22 ​ 27 Europe 15 ​ 18 Middle East ​ 14 ​ ​ 13 Australia ​ 11 ​ ​ 7 South America 2 ​ 9 Other 5 ​ 5 Total revenues $ 392 ​ $ 381 ​ Revenues from significant customers are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ Earth Intelligence ​ Space Infrastructure ​ Eliminations ​ Total U.S. federal government and agencies ​ $ 171 ​ $ 66 ​ $ — ​ $ 237 Commercial and other ​ ​ 79 ​ ​ 89 ​ ​ (13) ​ 155 Total revenues ​ $ 250 ​ $ 155 ​ $ (13) ​ $ 392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 Earth Intelligence Space Infrastructure ​ Eliminations Total U.S. federal government and agencies ​ $ 199 ​ $ 65 ​ $ — ​ $ 264 Commercial and other ​ ​ 72 ​ ​ 67 ​ ​ (22) ​ 117 Total revenues ​ $ 271 ​ $ 132 ​ $ (22) ​ $ 381 ​ The Company had revenues from a commercial customer in the Space Infrastructure segment that represented 19% of total revenues for the three months ended March 31, 2021. The revenues from this commercial customer in the Space Infrastructure segment were less than 10% of the Company’s total revenues for the three months ended March 31, 2020.

Segment information

Segment information	3 Months Ended
	Mar. 31, 2021
Segment information
Segment information	12. SEGMENT INFORMATION The Company’s business is organized into two reportable segments: Earth Intelligence and Space Infrastructure. The Earth Intelligence reportable segment is a supplier of high-resolution space-based optical and radar imagery products and analytics. The Space Infrastructure reportable segment is a provider of Space Infrastructure that designs, builds, integrates and tests solutions for space-based communication satellites, on-orbit servicing, robotic assembly and space exploration. ​ The Company’s Chief Operating Decision Maker (“CODM”) measures the performance of each segment based on revenue and Adjusted EBITDA. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization (“EBITDA”) adjusted for certain items affecting comparability as specified in the calculation. Certain items affecting comparability include restructuring, impairments, satellite insurance recovery, gain (loss) on sale of assets, CEO severance and transaction and integration related expense. Transaction and integration related expense includes costs associated with de-leveraging activities, acquisitions and dispositions and the integration of acquisitions. Corporate and other expenses include items such as corporate office costs, regulatory costs, executive and director compensation, foreign exchange gains and losses, and fees for audit, legal and consulting services. ​ Intersegment sales are generally recorded at cost plus a specified margin, which may differ from what the segment may be able to obtain on sales to external customers. ​ The following table summarizes the operating performance of the Company’s segments: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ Revenues: ​ ​ ​ Earth Intelligence $ 250 ​ $ 271 ​ Space Infrastructure 155 ​ 132 ​ Intersegment eliminations ​ (13) ​ ​ (22) ​ Total revenues $ 392 ​ $ 381 ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted EBITDA: ​ ​ ​ ​ ​ ​ Earth Intelligence $ 107 ​ $ 133 ​ Space Infrastructure ​ (12) ​ ​ (39) ​ Intersegment eliminations ​ (5) ​ ​ (7) ​ Corporate and other expenses ​ (23) ​ ​ (10) ​ Transaction and integration related expense ​ — ​ ​ (1) ​ Impairment loss ​ — ​ ​ (14) ​ Depreciation and amortization ​ (74) ​ ​ (90) ​ Interest expense, net ​ (78) ​ ​ (49) ​ Interest income 1 ​ 1 ​ ​ 1 ​ Equity in income from joint ventures, net of tax ​ — ​ ​ 1 ​ (Loss) income from continuing operations before taxes $ (84) ​ $ (75) ​ ​ 1 Included in Other (income) expense, net on the Unaudited Condensed Consolidated Statements of Operations. ​ The Company’s capital expenditures are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ Earth Intelligence Space Infrastructure Corporate and Eliminations ​ Total Capital expenditures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment ​ $ 13 ​ $ 4 ​ $ 9 ​ $ 26 Intangible assets ​ 20 ​ — ​ 4 ​ 24 ​ ​ $ 33 ​ $ 4 ​ $ 13 ​ $ 50 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ Earth Intelligence Space Infrastructure Corporate and Eliminations ​ Total Capital expenditures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment ​ $ 34 ​ $ 3 ​ $ 7 ​ $ 44 Intangible assets ​ 16 ​ — ​ — ​ 16 ​ ​ $ 50 ​ $ 3 ​ $ 7 ​ $ 60 ​ Substantially all of the Company’s long-lived tangible assets were in the United States as of March 31, 2021 and December 31, 2020.

Employee benefit plans

Employee benefit plans	3 Months Ended
	Mar. 31, 2021
Employee benefit plans
Employee benefit plans	13. EMPLOYEE BENEFIT PLANS ​ The following table summarizes the components of net periodic benefit cost for the Company’s pension plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 ​ 2020 Interest cost ​ $ 3 ​ $ 4 Expected return on plan assets ​ ​ (7) ​ ​ (6) Amortization of net loss ​ ​ 1 ​ ​ — Expenses paid ​ ​ 1 ​ ​ 1 Net periodic benefit cost ​ $ (2) ​ $ (1) ​ Contributions ​ The funding policy for the Company’s pension plans is to contribute at least the minimum required by applicable laws and regulations or to directly make benefit payments where appropriate. In December 2020, the Company prefunded approximately $16 million to its qualified pension plan. Due to the December 2020 prefunding, there are no further required contributions for the Company’s qualified pension plan for the year ended December 31, 2021.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2021
Income taxes
Income taxes	14. INCOME TAXES For the three months ended March 31, 2021 and 2020, the effective tax rate on pre-tax continuing operations was 0.0% and (2.7)%, respectively. The effective tax rates for the three months ended March 31, 2021 and 2020 differ from the statutory U.S. federal income tax rate of 21.0% primarily due to the estimated Base Erosion and Anti-Abuse Tax, estimated permanent differences and changes in valuation allowance. The Company does not anticipate a significant change to the Company’s gross unrecognized tax benefits within the next 12 months. ​ The Company assesses the deferred tax assets for recoverability on a quarterly basis. Based upon all available positive and negative evidence, the Company maintains a valuation allowance to reduce the net deferred tax asset to the amount that is more-likely-than-not realizable. ​ The Company computes an estimated annual effective tax rate (“AETR”) each quarter based on the current and forecasted continuing operating results. The income tax expense or benefit associated with the interim period is computed using the most recent estimated AETR applied to the year-to-date ordinary income or loss, plus the tax effect of any significant or infrequently occurring items recorded during the interim period. The computation of the estimated AETR at each interim period requires certain estimates and significant judgments including, but not limited to, the expected operating income (loss) for the year, projections of the proportion of income earned and taxed in various jurisdictions, permanent differences and the likelihood of recovering deferred tax assets generated in the current year. The accounting estimates used to compute the provision for income taxes may change as new events occur and additional information becomes known or as the tax environment changes.

Net income (loss) per common sh

Net income (loss) per common share	3 Months Ended
	Mar. 31, 2021
Net income (loss) per common share
Earnings per share	15. NET INCOME (LOSS) PER COMMON SHARE The following table includes the calculation of basic and diluted net income (loss) per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2021 2020 ​ ​ ​ ​ ​ ​ ​ Loss from continuing operations ​ $ (84) ​ $ (78) Income from discontinued operations, net of tax ​ ​ — ​ ​ 30 Net loss ​ $ (84) ​ $ (48) ​ ​ ​ ​ ​ ​ ​ Weighted average number of common shares outstanding-basic ​ ​ 64.8 ​ ​ 60.1 Weighted dilutive effect of equity awards ​ — ​ — Weighted average number of common shares outstanding-diluted ​ ​ 64.8 ​ ​ 60.1 ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per common share: ​ ​ ​ ​ ​ ​ Loss from continuing operations ​ $ (1.30) ​ $ (1.30) Income from discontinued operations, net of tax ​ ​ — ​ ​ 0.50 Basic net loss per common share ​ $ (1.30) ​ $ (0.80) ​ ​ ​ ​ ​ ​ ​ Diluted net income (loss) per common share: ​ ​ ​ ​ ​ ​ Loss from continuing operations ​ $ (1.30) ​ $ (1.30) Income from discontinued operations, net of tax ​ ​ — ​ ​ 0.50 Diluted net loss per common share ​ $ (1.30) ​ $ (0.80) ​ The weighted average number of common shares outstanding for the three months ended March 31, 2021 includes 10 million shares of the Company’s common stock issued in connection with the Offering. See Note 10 for further details. ​ For the three months ended March 31, 2021 and 2020 approximately 5 million and 4 million awards, respectively, were excluded from the diluted weighted average number of ordinary common shares outstanding calculation because their effect would have been anti-dilutive.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and contingencies
Commitments and contingencies	16. COMMITMENTS AND CONTINGENCIES Contingencies in the Normal Course of Business Satellite construction contracts may include performance incentives whereby payment for a portion of the purchase price of the satellite is contingent upon in-orbit performance of the satellite. The Company’s ultimate receipt of orbital performance incentives is subject to the continued performance of its satellites generally over the contractually stipulated life of the satellites. A complete or partial loss of a satellite’s functionality can result in loss of orbital receivable payments or repayment of amounts received by the Company under a warranty payback arrangement. The Company generally receives the present value of the orbital receivables if there is a launch failure or a failure caused by a customer error, but will forfeit some or all of the orbital receivables if the loss is caused by satellite failure or as a result of Company error. The Company recognizes orbital performance incentives in the financial statements based on the amounts that are expected to be received and believes that it will not incur a material loss relating to the incentives recognized. With respect to the Company’s securitized liability for the orbital receivables, upon the occurrence of an event of default under the securitization facility agreement or upon the occurrence of limited events, the Company may be required to repurchase on demand any effected receivables at their then net present value. The Company may incur liquidated damages on programs as a result of delays due to slippage, or for programs which fail to meet all milestone requirements as outlined within the contractual arrangements with customers. Losses on programs related to liquidated damages result in a reduction of revenue. Changes in estimates related to contracts accounted for using the cost-to-cost method of accounting are recognized in the period in which such changes are made for the inception-to-date effect of the changes. Unrecoverable costs on contracts that are expected to be incurred in future periods are recorded in program cost in the current period. Additionally, construction contracts may have termination for default clauses, which if triggered, could result in potential losses and legal disputes. ​ The Company enters into agreements in the ordinary course of business with resellers and others. Most of these agreements require the Company to indemnify the other party against third-party claims alleging that one of its products infringes or misappropriates a patent, copyright, trademark, trade secret or other intellectual property right. Certain of these agreements require the Company to indemnify the other party against claims relating to property damage, personal injury or acts or omissions by the Company, its employees, agents or representatives. ​ From time to time, the Company has made guarantees regarding the performance of its systems to its customers. Some of these agreements do not limit the maximum potential future payments the Company could be obligated to make. The Company evaluates and estimates potential losses from such indemnification based on the likelihood that the future event will occur. The Company has not incurred any material costs as a result of such obligations and has not accrued any liabilities related to such indemnification and guarantees in the Unaudited Condensed Consolidated Financial Statements. ​ The Company has entered into industrial cooperation agreements, sometimes referred to as offset agreements, as a condition to entering into contracts for its products and services from certain customers in foreign countries. These agreements are designed to return economic value to the foreign country and may be satisfied through activities that do not require a direct cash payment, including transferring technology and providing manufacturing, training and other consulting support to in-country projects. These agreements may provide for penalties in the event the Company fails to perform in accordance with offset requirements. The Company has historically not been required to pay any such penalties. ​ Risks and uncertainties related to COVID-19 The near and long-term impacts of the current pandemic on the cost and schedule of the numerous programs in the Company’s existing backlog and the timing of new awards remain uncertain. The Company is observing stress in its supplier base inside and outside the U.S. and will continue to monitor and assess the actual and potential COVID-19 impacts on employees, customers, suppliers and the productivity of the work being done, all of which to some extent will affect revenues, estimated costs to complete projects, earnings and cash flow. The Company’s current estimates at completion on the Company’s satellite manufacturing contracts assume, among other things, that the Company remains in a COVID-19 operating posture in the Company’s factories through the spring of 2021. ​ COVID-19 represents a force majeure event and as such, the Company has notified certain customers that it will be exercising its legal rights given the uncertain nature of the current pandemic and the near and long-term impacts on the cost and schedule of the numerous programs in the existing backlog. ​ Legal proceedings On January 14, 2019, a Maxar stockholder filed a putative class action lawsuit captioned Oregon Laborers Employers Pension Trust Fund, et al. v. Maxar Technologies Inc. seeking monetary damages. On October 7, 2019, the lead plaintiff filed a consolidated amended complaint alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against the Company and members of management in connection with the Company’s public disclosures between March 26, 2018 and January 6, 2019. The consolidated complaint alleges that the Company’s statements regarding the AMOS-8 contract, accounting for its GEO communications assets, and WorldView-4 were allegedly false and/or misleading during the class period. On September 11, 2020, the court granted in part, and denied in part, defendants’ motion to dismiss. Also, in January 2019, a Maxar stockholder resident in Canada issued a putative class action lawsuit captioned Charles O’Brien v. Maxar Technologies Inc. Charles O’Brien v. Maxar Technologies Inc. On October 21, 2019, a Maxar stockholder filed a putative class action lawsuit captioned McCurdy v. Maxar Technologies Inc., et al. On November 14, 2019, a derivative action was filed against Maxar and certain current and former members of management and the board of directors in United States District Court for the District of Delaware, captioned as Dorling, Derivatively on Behalf of Nominal Defendant Maxar Technologies Inc. v. Lance, et al. Golub, Derivatively on Behalf of Maxar Technologies Inc. v. Lance, et al.   The Company is a party to various other legal proceedings and claims that arise in the ordinary course of business as either a plaintiff or defendant. As a matter of course, the Company is prepared both to litigate these matters to judgment, as well as to evaluate and consider all reasonable settlement opportunities. The Company has established accrued liabilities for these matters where losses are deemed probable and reasonably estimable. The outcome of any of these other proceedings, either individually or in the aggregate, is not expected to have a material adverse effect on the Company’s financial position, results of operations or liquidity. The Company expenses legal fees related to contingencies as incurred.

Supplemental cash flow

Supplemental cash flow	3 Months Ended
	Mar. 31, 2021
Supplemental cash flow
Supplemental cash flow	17. SUPPLEMENTAL CASH FLOW Selected cash payments and non-cash activities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 ​ 2020 Supplemental cash flow information: ​ ​ ​ ​ ​ ​ Cash paid for interest ​ $ 27 ​ $ 51 Supplemental non-cash investing and financing activities: ​ ​ ​ ​ ​ ​ Accrued capital expenditures ​ ​ 13 ​ ​ 19 ​

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2021
Summary of significant accounting policies
Basis of presentation	Basis of presentation ​ The Unaudited Condensed Consolidated Financial Statements include the accounts of Maxar Technologies Inc., and all consolidated subsidiary entities. The Company’s Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). All intercompany balances and transactions are eliminated on consolidation. ​ The Company’s Unaudited Condensed Consolidated Financial Statements are presented in U.S. dollars and have been prepared on a historical cost basis, except for certain financial assets and liabilities including derivative financial instruments which are stated at fair value. References to “C$” refer to Canadian currency. ​ The Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Company’s annual audited consolidated financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K filed with the SEC. Unless otherwise indicated, amounts provided in the Notes to the Unaudited Condensed Consolidated Financial Statements pertain to continuing operations (See Note 3 for information on discontinued operations). Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. In management’s opinion, all adjustments of a normal recurring nature that are necessary for a fair statement of the accompanying Unaudited Condensed Consolidated Financial Statements have been included.
Use of estimates, assumptions and judgments	Use of estimates, assumptions and judgments ​ The preparation of the Unaudited Condensed Consolidated Financial Statements in accordance with U.S. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the reporting date, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared using the most current and best available information; however, actual results could differ materially from those estimates.
Purchase Price Allocation	Purchase Price Allocation On July 1, 2020, the Company closed the acquisition of Vricon, Inc. During the three months ended March 31, 2021, the Company finalized the purchase price allocation related to the acquisition. There were no adjustments from the preliminary purchase price allocation determined as of December 31, 2020.
Recent Accounting Guidance Not Yet Adopted	Recent Accounting Guidance Not Yet Adopted Reference Rate Reform ​ In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which together with subsequent amendments is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate and other interbank offered rates to alternative reference rates. This guidance was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company expects that it will elect to apply some of the expedients and exceptions in ASU 2020-04. However, the Company is still evaluating the guidance and the impact that adoption of ASU 2020-04 will have on the Company's financial statements.

Discontinued operations (Tables

Discontinued operations (Tables)	3 Months Ended
	Mar. 31, 2021
Discontinued operations
Schedule of results of discontinued operations	Income from discontinued operations, net of tax for the MDA Business in the Unaudited Condensed Consolidated Statement of Operations consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, 2020 Revenues: ​ ​ ​ Product ​ $ 39 Service ​ ​ 36 Total revenues ​ ​ 75 Costs and expenses: ​ ​ ​ Product costs, excluding depreciation and amortization ​ ​ 34 Service costs, excluding depreciation and amortization ​ ​ 21 Selling, general and administrative ​ ​ 13 Depreciation and amortization ​ ​ 4 Impairment loss ​ ​ 12 Operating loss ​ ​ (9) Interest expense, net ​ ​ 1 Other income, net 1 ​ ​ (36) Income before taxes ​ 26 Income tax benefit ​ ​ (4) Income from discontinued operations, net of tax ​ $ 30 ​ 1 Other income, net includes the $39 million recovery of the previously recorded liability in relation to the Company’s dispute with a customer for the three months ended March 31, 2020.

Trade and other receivables, _2

Trade and other receivables, net (Tables)	3 Months Ended
	Mar. 31, 2021
Trade and other receivables, net
Schedule of trade and other receivables, net	​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Billed $ 158 ​ $ 181 Unbilled 111 ​ 95 Total trade receivables ​ 269 ​ ​ 276 Orbital receivables, current portion ​ 49 ​ ​ 49 Other ​ 1 ​ ​ 3 Allowance for doubtful accounts ​ (1) ​ ​ (1) Trade and other receivables, net $ 318 ​ $ 327
Schedule of changes in allowance for expected credit losses related to non-current orbital receivables	The changes in allowance for expected credit losses related to non-current orbital receivables for the three months ended March 31, 2021, consist of the following: ​ ​ ​ ​ ​ ​ ​ Orbital Receivables Allowance Allowance as of December 31, 2020 ​ $ (49) Additions ​ — Allowance as of March 31, 2021 ​ $ (49)
Schedule of securitization liabilities	Securitization liabilities as of March 31, 2021 and December 31, 2020, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Current portion $ 14 ​ $ 14 Non-current portion 44 ​ 47 Total securitization liabilities $ 58 ​ $ 61

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory
Schedule of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Raw materials ​ $ 27 ​ $ 22 Work in process ​ ​ 11 ​ ​ 9 Inventory ​ $ 38 ​ $ 31

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	3 Months Ended
	Mar. 31, 2021
Property, plant and equipment, net
Schedule of property, plant and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Satellites ​ $ 397 ​ $ 397 Equipment ​ ​ 213 ​ ​ 207 Computer hardware ​ ​ 91 ​ ​ 78 Leasehold improvements ​ ​ 82 ​ ​ 81 Furniture and fixtures ​ ​ 15 ​ ​ 15 Construction in process 1 ​ ​ 579 ​ ​ 572 Property, plant and equipment, at cost ​ ​ 1,377 ​ ​ 1,350 Accumulated depreciation ​ (488) ​ ​ (467) Property, plant and equipment, net ​ $ 889 ​ $ 883 ​ 1

Intangible assets and goodwill

Intangible assets and goodwill (Tables)	3 Months Ended
	Mar. 31, 2021
Intangible assets and goodwill
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ Gross carrying value ​ Accumulated amortization ​ Net carrying value ​ Gross carrying value ​ Accumulated amortization ​ Net carrying value Customer relationships ​ $ 615 ​ $ (157) ​ $ 458 ​ $ 615 ​ $ (146) ​ $ 469 Technologies ​ ​ 369 ​ ​ (228) ​ ​ 141 ​ ​ 369 ​ ​ (211) ​ ​ 158 Software ​ ​ 320 ​ ​ (135) ​ ​ 185 ​ ​ 298 ​ ​ (125) ​ ​ 173 Backlog ​ 129 ​ (87) ​ 42 ​ 129 ​ (79) ​ 50 Image library ​ ​ 80 ​ ​ (61) ​ ​ 19 ​ ​ 80 ​ ​ (58) ​ ​ 22 Trade names and other ​ ​ 38 ​ ​ (16) ​ ​ 22 ​ ​ 38 ​ ​ (15) ​ ​ 23 Intangible assets ​ $ 1,551 ​ $ (684) ​ $ 867 ​ $ 1,529 ​ $ (634) ​ $ 895 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term debt and interest e_2

Long-term debt and interest expense, net (Tables)	3 Months Ended
	Mar. 31, 2021
Long-term debt and interest expense, net
Summary of long term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2021 2020 Syndicated Credit Facility: ​ ​ ​ ​ ​ Revolving Credit Facility ​ $ 25 ​ $ — Term Loan B ​ ​ 1,444 ​ ​ 1,444 2023 Notes ​ ​ 500 ​ ​ 850 2027 Notes ​ ​ 150 ​ ​ 150 Deferred financing ​ ​ 30 ​ ​ 32 Debt discount and issuance costs ​ (47) ​ (57) Obligations under finance leases and other ​ 4 ​ 3 Total long-term debt ​ 2,106 ​ 2,422 Current portion of long-term debt ​ (8) ​ (8) Non-current portion of long-term debt ​ $ 2,098 ​ $ 2,414
Schedule of interest expense on long term debt and other obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 Interest on long-term debt ​ $ 44 ​ $ 54 Loss on debt extinguishment ​ ​ 41 ​ ​ — Interest on orbital securitization liability ​ ​ 1 ​ ​ 1 Imputed interest and other ​ ​ 1 ​ ​ — Interest expense on advance payments from customers ​ ​ — ​ ​ 2 Capitalized interest ​ ​ (9) ​ ​ (8) Interest expense, net ​ $ 78 ​ $ 49

Financial instruments and fai_2

Financial instruments and fair value disclosures (Tables)	3 Months Ended
	Mar. 31, 2021
Financial instruments and fair value disclosures
Summary of financial instruments measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recurring Fair Value Measurements of as of March 31, 2021 ​ ​ Level 1 ​ Level 2 ​ Level 3 ​ Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ — ​ $ 14 ​ $ — ​ $ 14 Long-term debt 1 ​ ​ — ​ ​ 2,157 ​ ​ — ​ ​ 2,157 ​ ​ $ — ​ $ 2,171 ​ $ — ​ $ 2,171 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recurring Fair Value Measurements of as of December 31, 2020 ​ ​ Level 1 ​ Level 2 ​ Level 3 ​ Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ — ​ $ 20 ​ $ — ​ $ 20 Long-term debt 1 ​ ​ — ​ ​ 2,556 ​ ​ — ​ ​ 2,556 ​ ​ $ — ​ $ 2,576 ​ $ — ​ $ 2,576 ​ 1 Long-term debt excludes finance leases, borrowings under the Revolving Credit Facility, deferred financing and other and is carried at amortized cost. The outstanding carrying value was $2,047 million and $2,387 million at March 31, 2021 and December 31, 2020, respectively. The carrying value of borrowings under the Revolving Credit Facility approximates their fair value. ​

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' equity
Schedule of changes in the components of accumulated other comprehensive (loss) income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency Translation Adjustments ​ Unrealized Loss on Interest Rate Swaps ​ Loss on Pension and Other Postretirement Plans ​ Total Accumulated Other Comprehensive Loss Balance as of December 31, 2020 ​ $ 1 ​ $ (20) ​ $ (101) ​ $ (120) Other comprehensive (loss) income ​ ​ (1) ​ ​ 6 ​ ​ 1 ​ ​ 6 Tax benefit (expense) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance as of March 31, 2021 ​ $ — ​ $ (14) ​ $ (100) ​ $ (114)

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue
Summary of contract assets and contract liabilities by segment	Contract liabilities by segment are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, 2021 Earth Intelligence Space Infrastructure Total Contract liabilities ​ $ 42 ​ $ 243 ​ $ 285 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 Earth Intelligence Space Infrastructure Total Contract liabilities ​ $ 45 ​ $ 234 ​ $ 279 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of revenue by primary sources	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 Earth Intelligence Space Infrastructure Eliminations Total Product revenues ​ $ — ​ $ 142 ​ $ — ​ $ 142 Service revenues ​ 250 ​ — ​ — ​ 250 Intersegment ​ ​ — ​ 13 ​ (13) ​ — ​ ​ $ 250 ​ $ 155 ​ $ (13) ​ $ 392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 Earth Intelligence Space Infrastructure Eliminations Total Product revenues ​ $ — ​ $ 107 ​ $ — ​ $ 107 Service revenues ​ 271 ​ 3 ​ — ​ 274 Intersegment ​ ​ — ​ ​ 22 ​ ​ (22) ​ ​ — ​ ​ $ 271 ​ $ 132 ​ $ (22) ​ $ 381
Summary of revenue by geographic location	​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2021 2020 United States $ 323 ​ $ 302 Asia 22 ​ 27 Europe 15 ​ 18 Middle East ​ 14 ​ ​ 13 Australia ​ 11 ​ ​ 7 South America 2 ​ 9 Other 5 ​ 5 Total revenues $ 392 ​ $ 381
Schedule of revenue from significant customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ Earth Intelligence ​ Space Infrastructure ​ Eliminations ​ Total U.S. federal government and agencies ​ $ 171 ​ $ 66 ​ $ — ​ $ 237 Commercial and other ​ ​ 79 ​ ​ 89 ​ ​ (13) ​ 155 Total revenues ​ $ 250 ​ $ 155 ​ $ (13) ​ $ 392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 Earth Intelligence Space Infrastructure ​ Eliminations Total U.S. federal government and agencies ​ $ 199 ​ $ 65 ​ $ — ​ $ 264 Commercial and other ​ ​ 72 ​ ​ 67 ​ ​ (22) ​ 117 Total revenues ​ $ 271 ​ $ 132 ​ $ (22) ​ $ 381

Segment information (Tables)

Segment information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment information
Summary of operating performance of the reporting segments	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ Revenues: ​ ​ ​ Earth Intelligence $ 250 ​ $ 271 ​ Space Infrastructure 155 ​ 132 ​ Intersegment eliminations ​ (13) ​ ​ (22) ​ Total revenues $ 392 ​ $ 381 ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted EBITDA: ​ ​ ​ ​ ​ ​ Earth Intelligence $ 107 ​ $ 133 ​ Space Infrastructure ​ (12) ​ ​ (39) ​ Intersegment eliminations ​ (5) ​ ​ (7) ​ Corporate and other expenses ​ (23) ​ ​ (10) ​ Transaction and integration related expense ​ — ​ ​ (1) ​ Impairment loss ​ — ​ ​ (14) ​ Depreciation and amortization ​ (74) ​ ​ (90) ​ Interest expense, net ​ (78) ​ ​ (49) ​ Interest income 1 ​ 1 ​ ​ 1 ​ Equity in income from joint ventures, net of tax ​ — ​ ​ 1 ​ (Loss) income from continuing operations before taxes $ (84) ​ $ (75) ​ ​ 1 Included in Other (income) expense, net on the Unaudited Condensed Consolidated Statements of Operations. ​
Schedule of capital expenditures by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ Earth Intelligence Space Infrastructure Corporate and Eliminations ​ Total Capital expenditures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment ​ $ 13 ​ $ 4 ​ $ 9 ​ $ 26 Intangible assets ​ 20 ​ — ​ 4 ​ 24 ​ ​ $ 33 ​ $ 4 ​ $ 13 ​ $ 50 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ Earth Intelligence Space Infrastructure Corporate and Eliminations ​ Total Capital expenditures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment ​ $ 34 ​ $ 3 ​ $ 7 ​ $ 44 Intangible assets ​ 16 ​ — ​ — ​ 16 ​ ​ $ 50 ​ $ 3 ​ $ 7 ​ $ 60

Employee benefit plans (Tables)

Employee benefit plans (Tables)	3 Months Ended
	Mar. 31, 2021
Employee benefit plans
Summary of the components of net periodic benefit cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 ​ 2020 Interest cost ​ $ 3 ​ $ 4 Expected return on plan assets ​ ​ (7) ​ ​ (6) Amortization of net loss ​ ​ 1 ​ ​ — Expenses paid ​ ​ 1 ​ ​ 1 Net periodic benefit cost ​ $ (2) ​ $ (1)

Net income (loss) per common _2

Net income (loss) per common share (Tables)	3 Months Ended
	Mar. 31, 2021
Net income (loss) per common share
Summary of calculation of basic and diluted EPS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2021 2020 ​ ​ ​ ​ ​ ​ ​ Loss from continuing operations ​ $ (84) ​ $ (78) Income from discontinued operations, net of tax ​ ​ — ​ ​ 30 Net loss ​ $ (84) ​ $ (48) ​ ​ ​ ​ ​ ​ ​ Weighted average number of common shares outstanding-basic ​ ​ 64.8 ​ ​ 60.1 Weighted dilutive effect of equity awards ​ — ​ — Weighted average number of common shares outstanding-diluted ​ ​ 64.8 ​ ​ 60.1 ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per common share: ​ ​ ​ ​ ​ ​ Loss from continuing operations ​ $ (1.30) ​ $ (1.30) Income from discontinued operations, net of tax ​ ​ — ​ ​ 0.50 Basic net loss per common share ​ $ (1.30) ​ $ (0.80) ​ ​ ​ ​ ​ ​ ​ Diluted net income (loss) per common share: ​ ​ ​ ​ ​ ​ Loss from continuing operations ​ $ (1.30) ​ $ (1.30) Income from discontinued operations, net of tax ​ ​ — ​ ​ 0.50 Diluted net loss per common share ​ $ (1.30) ​ $ (0.80)

Supplemental cash flow (Tables)

Supplemental cash flow (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental cash flow
Schedule of supplemental cash flow	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 ​ 2020 Supplemental cash flow information: ​ ​ ​ ​ ​ ​ Cash paid for interest ​ $ 27 ​ $ 51 Supplemental non-cash investing and financing activities: ​ ​ ​ ​ ​ ​ Accrued capital expenditures ​ ​ 13 ​ ​ 19

Discontinued operations - Narra

Discontinued operations - Narratives (Details) - MDA business - Discontinued operations $ in Millions, $ in Billions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Apr. 08, 2020USD ($)	Apr. 08, 2020CAD ($)
Discontinued Operations
Aggregate purchase price			$ 729	$ 1
Gain on disposal of discontinued operations, net of tax		$ 317
Tax on gain on disposal of discontinued operations		$ 12
Accrued Liabilities
Discontinued Operations
Recovery of previously recorded liability from dispute	$ 39

Discontinued operations - Finan

Discontinued operations - Financial information Operations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Costs and expenses:
Income from discontinued operations, net of tax	$ 30
MDA business | Discontinued operations
Revenues:
Total revenues	75
Costs and expenses:
Selling, general and administrative	13
Depreciation and amortization	4
Impairment loss	12
Operating loss	(9)
Interest expense, net	1
Other income, net	(36)
Income before taxes	26
Income tax benefit	(4)
Income from discontinued operations, net of tax	30
MDA business | Discontinued operations | Product
Revenues:
Total revenues	39
Costs and expenses:
Costs, excluding depreciation and amortization	34
MDA business | Discontinued operations | Service
Revenues:
Total revenues	36
Costs and expenses:
Costs, excluding depreciation and amortization	$ 21

Trade and other receivables, _3

Trade and other receivables, net (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Trade and other receivables, net
Billed	$ 158	$ 181
Unbilled	111	95
Total trade receivables	269	276
Orbital receivables, current portion	49	49
Other	1	3
Allowance for doubtful accounts	(1)	(1)
Total trade and other receivables, net	$ 318	$ 327

Trade and other receivables - O

Trade and other receivables - Orbital receivables (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)customer	Dec. 31, 2020USD ($)customer
Trade and other receivables
Reduction in outstanding receivables, final milestone	$ 15
Reduction in outstanding receivables, expected orbital payments	14
Orbital receivables, net	339	$ 361
Changes in allowance for expected credit losses related to non-current orbital receivables
Allowance at the beginning of the period	(49)
Allowance at the end of the period	$ (49)	$ (49)
Accounts Receivable | Credit Concentration Risk
Trade and other receivables
Number of customers | customer	14	14
Accounts Receivable | Credit Concentration Risk | Largest Customer
Trade and other receivables
Concentration risk, percentage	22.00%	19.00%

Trade and other receivables - S

Trade and other receivables - Securitization liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Trade and other receivables, net
Current portion	$ 14	$ 14
Non-current portion	44	47
Total securitization liabilities	$ 58	$ 61

Inventory (Details)

Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Inventory
Raw materials	$ 27	$ 22
Work in process	11	9
Total inventory	$ 38	$ 31

Property, plant and equipment_3

Property, plant and equipment, net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Property, plant and equipment
Property, plant and equipment, at cost	$ 1,377		$ 1,350
Accumulated depreciation	(488)		(467)
Property, plant and equipment, net	889		883
Depreciation	23	$ 24
Satellites
Property, plant and equipment
Property, plant and equipment, at cost	397		397
Equipment
Property, plant and equipment
Property, plant and equipment, at cost	213		207
Leasehold improvements
Property, plant and equipment
Property, plant and equipment, at cost	82		81
Computer hardware
Property, plant and equipment
Property, plant and equipment, at cost	91		78
Furniture and fixtures
Property, plant and equipment
Property, plant and equipment, at cost	15		15
Construction in process
Property, plant and equipment
Property, plant and equipment, at cost	$ 579		$ 572

Intangible assets and goodwil_2

Intangible assets and goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Finite-lived intangible assets:
Gross carrying value	$ 1,551		$ 1,529
Accumulated amortization	(684)		(634)
Net carrying value	867		895
Amortization of intangible assets	51	$ 66
Customer relationships
Finite-lived intangible assets:
Gross carrying value	615		615
Accumulated amortization	(157)		(146)
Net carrying value	458		469
Backlog
Finite-lived intangible assets:
Gross carrying value	129		129
Accumulated amortization	(87)		(79)
Net carrying value	42		50
Technologies
Finite-lived intangible assets:
Gross carrying value	369		369
Accumulated amortization	(228)		(211)
Net carrying value	141		158
Software
Finite-lived intangible assets:
Gross carrying value	320		298
Accumulated amortization	(135)		(125)
Net carrying value	185		173
Image library
Finite-lived intangible assets:
Gross carrying value	80		80
Accumulated amortization	(61)		(58)
Net carrying value	19		22
Trade names and other
Finite-lived intangible assets:
Gross carrying value	38		38
Accumulated amortization	(16)		(15)
Net carrying value	$ 22		$ 23

Long-term debt and interest e_3

Long-term debt and interest expense, net (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Long-term debt and interest expenses
Debt discount and issuance costs	$ (47)	$ (57)
Obligations under finance leases and other	4	3
Total long-term debt	2,106	2,422
Current portion of long-term debt	(8)	(8)
Non-current portion of long-term debt	2,098	2,414
Revolving Credit Facility
Long-term debt and interest expenses
Long-term debt	25
Term Loan B
Long-term debt and interest expenses
Long-term debt	1,444	1,444
2023 Notes
Long-term debt and interest expenses
Long-term debt	500	850
2027 Notes
Long-term debt and interest expenses
Long-term debt	150	150
Deferred financing
Long-term debt and interest expenses
Long-term debt	$ 30	$ 32

Long-term debt and interest e_4

Long-term debt and interest expense, net - Syndicated credit facility (Details) $ in Millions	May 26, 2021USD ($)	Jun. 25, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Long-term debt and interest expenses
Loss on debt extinguishment				$ (41)
Unamortized debt issuance cost expensed				4	$ 4
2023 Notes
Long-term debt and interest expenses
Aggregate principal amount			$ 1,000
Principal amount of redeemed	$ 350
Premium paid for debt redemption	$ 34
Loss on debt extinguishment				41
Aggregate principal amount repurchased		$ 150		$ 150
Interest rate (as a percent)		9.75%	9.75%
Notes issue price percentage			98.00%
Percentage of principal amount of repurchased debt		112.45%
Percentage of premium paid on repurchase of notes		12.45%
2027 Notes
Long-term debt and interest expenses
Aggregate principal amount		$ 150
Interest rate (as a percent)		7.54%
Issue Price (as a percent)		98.25%
Syndicated Credit Facility | At the end of each fiscal quarter for the next nine months
Long-term debt and interest expenses
Maximum debt to EBITDA				7.50
Syndicated Credit Facility | At the end of each fiscal quarter for the next 18 months
Long-term debt and interest expenses
Maximum debt to EBITDA				7.25
Syndicated Credit Facility | At the end of each fiscal quarter for the next 24 months
Long-term debt and interest expenses
Maximum debt to EBITDA				6.25
Syndicated Credit Facility | For each fiscal quarter thereafter
Long-term debt and interest expenses
Maximum debt to EBITDA				5.50
Syndicated Credit Facility | Upon a disposition of a business line for greater than $500 million
Long-term debt and interest expenses
Maximum debt to EBITDA				0.25
Revolving Credit Facility | Upon a disposition of a business line for greater than $500 million
Long-term debt and interest expenses
Minimum amount of disposition of business line to trigger a reduction in each maximum level of consolidated debt to EBITDA				$ 500
Revolving Credit Facility | Maturing in December 2023
Long-term debt and interest expenses
Maximum borrowing capacity				500
Letter of credit
Long-term debt and interest expenses
Maximum borrowing capacity				200
Letter of credit outstanding				25		$ 31
Term Loan B | Maturing in October 2024
Long-term debt and interest expenses
Aggregate principal amount				$ 2,000

Long-term debt and interest e_5

Long-term debt and interest expense, net - Interest expense on long term debts and other obligations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest expenses
Interest on long-term debt	$ 44	$ 54
Loss on debt extinguishment	41
Interest on orbital securitization liability	1	1
Interest expense on advance payments from customers		2
Imputed interest and other	1
Capitalized interest	(9)	(8)
Interest expense, net	$ 78	$ 49

Financial instruments and fai_3

Financial instruments and fair value disclosures - Financial instruments measured at fair value (Details) - Recurring - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Liabilities
Long-term debt	$ 2,157	$ 2,556
Liabilities fair value	2,171	2,576
Interest rate swaps
Liabilities
Derivative financial instruments	14	20
Level 2
Liabilities
Long-term debt	2,157	2,556
Liabilities fair value	2,171	2,576
Level 2 | Interest rate swaps
Liabilities
Derivative financial instruments	$ 14	$ 20

Financial instruments and fai_4

Financial instruments and fair value disclosures - Financial instruments recorded at carrying value (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financial instruments and fair value disclosures
Fair value assets level 1 to level 2 transfers			$ 0	$ 0
Fair value assets level 2 to level 1 transfers			0	0
Fair value assets transfers into level 3			0	0
Fair value assets transfers out of level 3			0	0
Fair value liabilities level 1 to level 2 transfers			0	0
Fair value liabilities level 2 to level 1 transfers			0	0
Fair value liabilities transfers into level 3			0	0
Fair value liabilities transfers out of level 3			0	0
Carrying value
Financial instruments and fair value disclosures
Long-term debt excludes finance leases, deferred financing and other			$ 2,047	$ 2,387
Interest rate swaps
Financial instruments and fair value disclosures
Maturities of interest rate swaps		$ 500
Interest rate swaps | Forecast
Financial instruments and fair value disclosures
Maturities of interest rate swaps	$ 500

Stockholders' equity (Details)

Stockholders' equity (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 22, 2021	Mar. 31, 2021	Dec. 31, 2020
Stockholders' equity
Common stock, shares issued	10,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Public offering price	$ 40
Proceeds from common stock		$ 380
Net transaction fee		$ 20
Series A Junior Participating Preferred Stock
Stockholders' equity
Preferred stock, authorized shares		2.4	2.4
Preferred stock, shares outstanding		0	0
Common Stock
Stockholders' equity
Common stock, shares issued		10,000,000

Stockholders' equity - Componen

Stockholders' equity - Components of accumulated other comprehensive income (loss) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period	$ 935
Balance at the end of period	1,246
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period	(120)
Other comprehensive (loss) income	6
Balance at the end of period	(114)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period	1
Other comprehensive (loss) income	(1)
Unrecognized Loss on Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period	(20)
Other comprehensive (loss) income	6
Balance at the end of period	(14)
Pension Adjustments
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period	(101)
Other comprehensive (loss) income	1
Balance at the end of period	$ (100)

Revenue - Remaining performance

Revenue - Remaining performance obligations (Details) $ in Billions	Mar. 31, 2021USD ($)
Revenue
Remaining performance obligation	$ 1.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue
Remaining performance obligation	$ 1
Expected timing of satisfaction	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue
Remaining performance obligation	$ 0.5
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue
Remaining performance obligation	$ 0.3
Expected timing of satisfaction

Revenue - Contract assets and l

Revenue - Contract assets and liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Contract assets and contract liabilities
Contract Liabilities	$ 285	$ 279
Earth intelligence
Contract assets and contract liabilities
Contract Liabilities	42	45
Space Infrastructure
Contract assets and contract liabilities
Contract Liabilities	$ 243	$ 234

Revenue - Disaggregation of rev

Revenue - Disaggregation of revenue by source (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue
Revenues	$ 392	$ 381
Product
Revenue
Revenues	142	107
Service
Revenue
Revenues	250	274
Earth intelligence
Revenue
Revenues	250	271
Space Infrastructure
Revenue
Revenues	155	132
Orbital interest revenue	7	7
Cumulative adjustment to revenue	25
Cumulative adjustment, incremental costs	3
Space Infrastructure | Commercial Satellite Contract
Revenue
EAC adjustment	10	19
Space Infrastructure | COVID-19
Revenue
Growth in estimated total cost-at-completion ("EAC")	0	18
Operating Segments
Revenue
Revenues	(13)	(22)
Operating Segments | Earth intelligence
Revenue
Revenues	250	271
Operating Segments | Earth intelligence | Service
Revenue
Revenues	250	271
Operating Segments | Space Infrastructure
Revenue
Revenues	155	132
Operating Segments | Space Infrastructure | Product
Revenue
Revenues	142	107
Operating Segments | Space Infrastructure | Service
Revenue
Revenues		3
Intersegment eliminations
Revenue
Revenues	(13)	(22)
Intersegment eliminations | Space Infrastructure
Revenue
Revenues	$ 13	$ 22

Revenue - Disaggregation of r_2

Revenue - Disaggregation of revenue on geographic location of customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue
Revenues	$ 392	$ 381
U.S.
Revenue
Revenues	323	302
Asia
Revenue
Revenues	22	27
Europe
Revenue
Revenues	15	18
Middle East
Revenue
Revenues	14	13
Australia
Revenue
Revenues	11	7
South America
Revenue
Revenues	2	9
Other
Revenue
Revenues	$ 5	$ 5

Revenue - Disaggregation of r_3

Revenue - Disaggregation of revenue from significant customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue
Revenues	$ 392	$ 381
U.S. Federal Government and agencies
Revenue
Revenues	237	264
Commercial and other
Revenue
Revenues	$ 155	$ 117
Commercial and other | Revenue | Customer concentration risk
Revenue
Concentration risk, percentage	19.00%
Commercial and other | Revenue | Customer concentration risk | Maximum
Revenue
Concentration risk, percentage		10.00%
Operating Segments
Revenue
Revenues	$ (13)	$ (22)
Intersegment eliminations
Revenue
Revenues	(13)	(22)
Intersegment eliminations | Commercial and other
Revenue
Revenues	(13)	(22)
Earth intelligence
Revenue
Revenues	250	271
Earth intelligence | U.S. Federal Government and agencies
Revenue
Revenues	171	199
Earth intelligence | Commercial and other
Revenue
Revenues	79	72
Earth intelligence | Operating Segments
Revenue
Revenues	250	271
Space Infrastructure
Revenue
Revenues	155	132
Space Infrastructure | U.S. Federal Government and agencies
Revenue
Revenues	66	65
Space Infrastructure | Commercial and other
Revenue
Revenues	89	67
Space Infrastructure | Operating Segments
Revenue
Revenues	155	132
Space Infrastructure | Intersegment eliminations
Revenue
Revenues	$ 13	$ 22

Segment information - Operating

Segment information - Operating performance (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Segment information
Number of reportable segments | segment	2
Total revenues	$ 392	$ 381
Corporate and other expense	(23)	(10)
Transaction and integration related expense		(1)
Inventory impairment		(14)
Depreciation and amortization	(74)	(90)
Interest expense, net	(78)	(49)
Interest income	1	1
Equity loss (income) from joint ventures, net of tax		1
Loss before taxes	(84)	(75)
Operating Segments
Segment information
Total revenues	(13)	(22)
Operating Segments | Earth Intelligence
Segment information
Total revenues	250	271
Adjusted EBITDA	107	133
Operating Segments | Space Infrastructure
Segment information
Total revenues	155	132
Adjusted EBITDA	(12)	(39)
Intersegment eliminations
Segment information
Total revenues	(13)	(22)
Adjusted EBITDA	$ (5)	$ (7)

Segment information - Capital e

Segment information - Capital expenditures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment information
Capital expenditures, property, plant and equipment	$ 26	$ 44
Capital expenditures, intangible assets	24	16
Capital expenditures	50	60
Intersegment eliminations
Segment information
Capital expenditures, property, plant and equipment	9	7
Capital expenditures, intangible assets	4
Capital expenditures	13	7
Earth Intelligence | Operating Segments
Segment information
Capital expenditures, property, plant and equipment	13	34
Capital expenditures, intangible assets	20	16
Capital expenditures	33	50
Space Infrastructure | Operating Segments
Segment information
Capital expenditures, property, plant and equipment	4	3
Capital expenditures	$ 4	$ 3

Employee benefit plans - Compon

Employee benefit plans - Components of net periodic benefit cost (Details) - Pension - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee benefit plans
Interest cost	$ 3	$ 4
Expected return on plan assets	(7)	(6)
Amortization of net loss	1
Expenses paid	1	1
Net periodic benefit cost	$ (2)	$ (1)

Employee benefit plans - Narrat

Employee benefit plans - Narrative (Details) - Pension $ in Millions	1 Months Ended
	Dec. 31, 2020USD ($)
Employee benefit plans
Employer contributions	$ 16
Expected future contribution by the employer	$ 0

Income taxes - Income tax rate

Income taxes - Income tax rate (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income taxes
Statutory U.S. Federal income tax rate	21.00%	21.00%
Effective income tax rate	0.00%	(2.70%)

Net income (loss) per common _3

Net income (loss) per common share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income (loss) per common share
Income from continuing operations	$ (84)	$ (78)
Income from discontinued operations, net of tax		30
Net loss	$ (84)	$ (48)
Weighted average number of common shares outstanding - basic (in shares)	64.8	60.1
Weighted average number of common shares outstanding-diluted	64.8	60.1
Basic net income per common share:
Income from continuing operations (in dollars per share)	$ (1.30)	$ (1.30)
Income from discontinued operations, net of tax (in dollars per share)		0.50
Basic net loss per common share (in dollars per share)	(1.30)	(0.80)
Diluted net income per common share:
Loss from continuing operations (in dollars per share)	(1.30)	(1.30)
Income from discontinued operations, net of tax (in dollars per share)		0.50
Diluted net loss per common share (in dollars per share)	$ (1.30)	$ (0.80)

Net income (loss) per common _4

Net income (loss) per common share - Anti-dilutive securities (Details) - shares shares in Millions	Mar. 22, 2021	Mar. 31, 2021	Mar. 31, 2020
Net income (loss) per common share
Common stock, shares issued	10
Antidilutive securities excluded from computation of earnings per share (in shares)		5	4

Commitments and contingencies (

Commitments and contingencies (Details) $ in Millions	1 Months Ended
	Jan. 31, 2019USD ($)
Pending Litigation | Stockholder class action
Commitments and Contingencies
Recovery amount sought	$ 700

Supplemental cash flow - (Detai

Supplemental cash flow - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental cash flow information:
Cash paid for interest	$ 27	$ 51
Supplemental non-cash investing and financing activities:
Accrued capital expenditures	$ 13	$ 19