Iridium Communications (IRDM) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 24, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Iridium Communications Inc.
Entity Central Index Key	1,418,819
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	IRDM
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017
Entity Common Stock, Shares Outstanding		97,668,880

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 335,199	$ 371,167
Marketable securities	21,322	39,328
Accounts receivable, net	63,379	57,373
Inventory	20,422	18,204
Prepaid expenses and other current assets	22,660	30,698
Total current assets	462,982	516,770
Property and equipment, net	3,111,042	2,813,084
Restricted cash	135,265	113,139
Other assets	10,530	10,836
Intangible assets, net	50,784	45,796
Total assets	3,770,603	3,499,625
Current liabilities:
Accounts payable	128,254	11,131
Accrued expenses and other current liabilities	28,920	23,840
Interest payable	14,272	14,136
Deferred revenue	36,641	34,087
Total current liabilities	208,087	83,194
Accrued satellite operations and maintenance expense, net of current portion		13,138
Credit facility, net	1,688,420	1,657,145
Deferred income tax liabilities, net	390,974	361,656
Deferred revenue, net of current portion	37,503	36,417
Other long-term liabilities	33,075	4,317
Total liabilities	2,358,059	2,155,867
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value, 300,000 shares authorized, 97,657 and 95,879 shares issued and outstanding, respectively	98	96
Additional paid-in capital	1,069,436	1,060,311
Retained earnings	347,664	288,797
Accumulated other comprehensive loss, net of tax	(4,654)	(5,446)
Total stockholders' equity	1,412,544	1,343,758
Total liabilities and stockholders' equity	3,770,603	3,499,625
Series A Preferred Stock [Member]
Stockholders' equity:
Preferred Stock, Value
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred Stock, Value

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets [Parenthetical] - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.0001
Preferred stock, shares authorized	2,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	97,657,000	95,879,000
Common stock, shares outstanding	97,657,000	95,879,000
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	500,000	500,000
Preferred stock, shares outstanding	499,955	500,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Services	$ 86,623,000	$ 83,486,000	$ 168,396,000	$ 163,309,000
Subscriber equipment	18,844,000	20,362,000	35,958,000	37,922,000
Engineering and support services	6,137,000	5,347,000	11,676,000	12,166,000
Total revenue	111,604,000	109,195,000	216,030,000	213,397,000
Operating expenses:
Cost of services (exclusive of depreciation and amortization)	21,368,000	16,448,000	38,326,000	32,351,000
Cost of subscriber equipment	10,868,000	11,859,000	20,972,000	22,322,000
Research and development	3,014,000	4,013,000	6,241,000	6,572,000
Selling, general and administrative	20,411,000	22,303,000	39,628,000	41,366,000
Depreciation and amortization	20,201,000	12,843,000	33,708,000	25,779,000
Total operating expenses	75,862,000	67,466,000	138,875,000	128,390,000
Gain on Boeing transaction			14,189,000
Operating income	35,742,000	41,729,000	91,344,000	85,007,000
Other income (expense):
Interest income, net	832,000	800,000	1,665,000	1,558,000
Undrawn credit facility fees		(368,000)	(25,000)	(871,000)
Other income (expense), net	(56,000)	333,000	(118,000)	320,000
Total other income, net	776,000	765,000	1,522,000	1,007,000
Income before income taxes	36,518,000	42,494,000	92,866,000	86,014,000
Provision for income taxes	(11,740,000)	(15,640,000)	(30,140,000)	(30,640,000)
Net income	24,778,000	26,854,000	62,726,000	55,374,000
Net income attributable to common stockholders	$ 20,919,000	$ 22,995,000	$ 55,008,000	$ 47,656,000
Weighted average shares outstanding - basic	97,989	95,913	97,424	95,782
Weighted average shares outstanding - diluted	126,943	123,465	126,659	123,227
Net income attributable to common stockholders per share - basic	$ 0.21	$ 0.24	$ 0.56	$ 0.50
Net income attributable to common stockholders per share - diluted	$ 0.20	$ 0.22	$ 0.49	$ 0.45
Comprehensive income:
Net income	$ 24,778,000	$ 26,854,000	$ 62,726,000	$ 55,374,000
Foreign currency translation adjustments, net of tax	(1,448,000)	1,068,000	799,000	2,935,000
Unrealized gain (loss) on marketable securities, net of tax	(3,000)	138,000	(7,000)	267,000
Comprehensive income	23,327,000	28,060,000	63,518,000	58,576,000
Series A Preferred Stock [Member]
Other income (expense):
Preferred Stock dividends, declared and paid	0	1,750,000	1,750,000	3,500,000
Preferred Stock dividends, undeclared	1,750,000		1,750,000
Series B Preferred Stock [Member]
Other income (expense):
Preferred Stock dividends, declared and paid	0	$ 2,109,000	2,109,000	$ 4,218,000
Preferred Stock dividends, undeclared	$ 2,109,000		$ 2,109,000

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net cash provided by operating activities	$ 119,866,000	$ 108,835,000
Cash flows from investing activities:
Capital expenditures	(168,172,000)	(156,802,000)
Purchases of marketable securities	0	(19,414,000)
Sales and maturities of marketable securities	17,901,000	146,265,000
Net cash used in investing activities	(150,271,000)	(29,951,000)
Cash flows from financing activities:
Borrowings under the Credit Facility	22,207,000	129,431,000
Payment of deferred financing fees	(1,533,000)	(8,158,000)
Restricted cash deposits	(22,126,000)	(11,094,000)
Proceeds from exercise of stock options	1,572,000	80,000
Tax payment upon settlement of stock awards	(1,753,000)	(586,000)
Net cash provided by (used in) financing activities	(5,492,000)	101,955,000
Effect of exchange rate changes on cash and cash equivalents	(71,000)	477,000
Net increase (decrease) in cash and cash equivalents	(35,968,000)	181,316,000
Cash and cash equivalents, beginning of period	371,167,000	185,665,000
Cash and cash equivalents, end of period	335,199,000	366,981,000
Supplemental cash flow information:
Interest paid	42,458,000	10,985,000
Income taxes paid, net	1,312,000	735,000
Supplemental disclosure of non-cash investing activities:
Property and equipment received but not paid for yet	152,722,000	5,388,000
Interest capitalized but not paid	14,272,000	13,314,000
Capitalized amortization of deferred financing costs	10,600,000	9,156,000
Capitalized paid-in-kind interest	253,000	25,136,000
Capitalized stock-based compensation	1,561,000	1,304,000
Series A Preferred Stock [Member]
Cash flows from financing activities:
Payment of Preferred Stock dividends	(1,750,000)	(3,500,000)
Supplemental disclosure of non-cash financing activities:
Dividends Payable	292,000	292,000
Series B Preferred Stock [Member]
Cash flows from financing activities:
Payment of Preferred Stock dividends	(2,109,000)	(4,218,000)
Supplemental disclosure of non-cash financing activities:
Dividends Payable	$ 352,000	$ 352,000

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	1. Basis of Presentation and Principles of Consolidation Iridium Communications Inc. (the “Company”) has prepared its condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The accompanying condensed consolidated financial statements include the accounts of (i) the Company, (ii) its wholly owned subsidiaries, and (iii) all less than wholly owned subsidiaries that the Company controls. All material intercompany transactions and balances have been eliminated. In the opinion of management, the condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on February 23, 2017.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation – Stock Compensation, Improvements to Employee Share-Based Payment Accounting • The Company made an accounting policy election to continue estimating the number of awards that are expected to be forfeited, consistent with the Company’s prior practice. • The Company excluded the excess tax benefits and deficiencies component from the treasury stock method in the diluted earnings per share calculation. The change had an immaterial impact on the Company’s reported diluted earnings per share. • The Company recorded current excess tax benefits and tax deficiencies as income tax benefit (expense) in the consolidated statements of operations and comprehensive income. The change resulted in an excess tax benefit of $0.1 million and $1.0 million recorded in the provision for income taxes for the three and six months ended June 30, 2017, respectively. • The Company will present excess tax benefits as an operating activity on the condensed consolidated statement of cash flows rather than as a financing activity. Prior periods have not been adjusted. There were no additional impacts on the Company’s financial statements, resulting from the adoption of ASU 2016-09 that required a retrospective or modified retrospective approach. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory Accounting Pronouncements Not Yet Adopted In May 2014, the FASB and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard, ASU No. 2014-09, Revenue from Contracts with Customers The Company has established a project team in order to analyze the effect of the standard on its contracts by reviewing its current accounting policies and practices to identify potential differences which would result from applying the requirements of the new standard to its revenue contracts. The Company has aggregated its contracts into homogeneous revenue streams and is continuing to assess all potential effects of the standard. The Company anticipates a change to the recognition pattern of its prepaid revenue from expiration. The Company currently recognizes unused prepaid revenue at the date the right to access the prepaid service has expired. Under the new standard, the Company will estimate the expected revenue that will expire unused and recognize this revenue over the prepaid term. The Company is currently evaluating the impact on revenue from estimating prepaid revenue upon expiration and changing the term over which this revenue is recognized. In February 2016, the FASB issued ASU No. 2016-02, Leases In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Warranty Expense The Company provides the first end-user purchaser of its subscriber equipment a warranty for one to five years from the date of purchase by such first end-user, depending on the product. The Company maintains a warranty reserve based on historical experience of warranty costs and expected occurrences of warranty claims on equipment. Costs associated with warranties, including equipment replacement, repairs, freight and program administration, are recorded as cost of subscriber equipment in the accompanying condensed consolidated statements of operations and comprehensive income. Fair Value Measurements The Company evaluates assets and liabilities subject to fair value measurements on a recurring and non-recurring basis to determine the appropriate level to classify them for each reporting period. This determination requires significant judgments to be made by management of the Company. The instruments identified as subject to fair value measurements on a recurring basis are cash and cash equivalents, marketable securities, prepaid expenses and other current assets, accounts receivable, accounts payable and accrued expenses and other current liabilities. Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. The fair value hierarchy consists of the following tiers: • Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; • Level 2, defined as observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying values of short-term financial instruments (primarily cash and cash equivalents, prepaid expenses and other current assets, accounts receivable, accounts payable, and accrued expenses and other current liabilities) approximate their fair values because of their short-term nature. The fair value of the Company’s investments in money market funds approximates its carrying value; such instruments are classified as Level 1 and are included in cash and cash equivalents in the accompanying condensed consolidated balance sheets. The fair value of the Company’s investments in commercial paper and short-term U.S. agency securities with original maturities of less than ninety days approximates their carrying value; such instruments are classified as Level 2 and are included in cash and cash equivalents in the accompanying condensed consolidated balance sheets. The fair value of the Company’s investments in fixed-income debt securities and commercial paper with original maturities of greater than ninety days are obtained using similar investments traded on active securities exchanges and are classified as Level 2 and are included in marketable securities in the accompanying condensed consolidated balance sheets. For fixed income securities that do not have quoted prices in active markets, the Company uses third-party vendors to price its debt securities resulting in classification as Level 2. Depreciation and Amortization The Company calculates depreciation expense using the straight line method and evaluates the appropriateness of the useful life used on a quarterly basis or as events occur that require additional assessment. Throughout 2017 and 2016, the Company updated its estimate of the first-generation satellites’ remaining useful lives based on the continued refinement of the launch schedule, health of the first-generation constellation, and deployment plan for the Company’s next-generation satellite constellation (“Iridium NEXT”). As a result, the estimated useful lives of the satellites within the first-generation constellation were extended and are consistent with the expected deployment of Iridium NEXT. The Company will continue to evaluate the useful lives of its first-generation satellites on an ongoing basis through the full deployment of Iridium NEXT, which is expected to occur in 2018. The changes in estimate will also have an effect on future periods through the deployment of Iridium NEXT. The $7.5 million increase in depreciation expense for the six months ended June 30, 2017 compared to the same period of the prior year is primarily related to the addition of new assets, including Iridium NEXT satellites placed into service during the six-month period ended June 30, 2017 and assets related to the Russian gateway completed at the end of 2016, partially offset by the continued refinement in the estimated useful lives of the first-generation satellites.

Cash and Cash Equivalents, Rest

Cash and Cash Equivalents, Restricted Cash and Marketable Securities	6 Months Ended
	Jun. 30, 2017
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents, Restricted Cash and Marketable Securities	3. Cash and Cash Equivalents, Restricted Cash and Marketable Securities Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of ninety days or less to be cash equivalents. These investments, along with cash deposited in institutional money market funds, commercial paper, regular interest bearing and non-interest bearing depository accounts, are classified as cash and cash equivalents in the accompanying condensed consolidated balance sheet. The following table summarizes the Company’s cash and cash equivalents: June 30, December 31, Recurring Fair 2017 2016 Value (in thousands) Cash and cash equivalents: Cash $ 117,885 $ 102,194 Money market funds 217,314 266,478 Level 1 Commercial paper - 2,495 Level 2 Total cash and cash equivalents $ 335,199 $ 371,167 Restricted Cash The Company is required to maintain a minimum cash reserve for debt service related to its $1.8 billion loan facility (the “Credit Facility”) (see Note 4). As of June 30, 2017 and December 31, 2016, the Company’s restricted cash balance, which includes a minimum cash reserve for debt service related to the Credit Facility and the interest earned on these amounts, was $135.3 million and $113.1 million, respectively. Marketable Securities Marketable securities consist of fixed-income debt securities and commercial paper with an original maturity in excess of ninety days. These investments are classified as available-for-sale and are included in marketable securities within current assets in the accompanying condensed consolidated balance sheets. All investments are carried at fair value. Unrealized gains and losses, net of taxes, are reported as a component of other comprehensive income or loss. The specific identification method is used to determine the cost basis of the marketable securities sold. There were no material realized gains or losses on the sale of marketable securities for six months ended June 30, 2017 and 2016. The Company regularly monitors and evaluates the fair value of its investments to identify other-than-temporary declines in value. The Company determined that the decline in fair value of its investments is temporary at June 30, 2017 as the Company does not intend to sell these securities, and it is not likely that the Company will be required to sell the securities before the recovery of their amortized cost basis. The following tables summarize the Company’s marketable securities: As of June 30, 2017 Amortized Gross Gross Estimated Recurring Fair Cost Unrealized Unrealized Losses Fair Value Value Measurement (in thousands) Fixed-income debt securities $ 17,075 $ 6 $ (6 ) $ 17,075 Level 2 U.S. treasury notes 4,251 - (4 ) 4,247 Level 2 Total marketable securities $ 21,326 $ 6 $ (10 ) $ 21,322 As of December 31, 2016 Amortized Gross Gross Estimated Recurring Fair Cost Unrealized Gains Unrealized Losses Fair Value Value Measurement (in thousands) Fixed-income debt securities $ 30,037 $ 14 $ (11 ) $ 30,040 Level 2 U.S. treasury notes 9,283 7 (2 ) 9,288 Level 2 Total marketable securities $ 39,320 $ 21 $ (13 ) $ 39,328 The following table presents the contractual maturities of the Company’s marketable securities: As of June 30, 2017 As of December 31, 2016 Amortized Fair Amortized Fair Cost Value Cost Value (in thousands) Mature within one year $ 19,828 $ 19,826 $ 32,776 $ 32,788 Mature after one year and within three years 1,498 1,496 6,544 6,540 Total $ 21,326 $ 21,322 $ 39,320 $ 39,328

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	4. Commitments and Contingencies Commitments Thales In June 2010, the Company executed a primarily fixed-price full-scale development contract (the “FSD”) with Thales Alenia Space France (“Thales”) for the design and build of satellites for Iridium NEXT. The total price under the FSD is $2.3 billion, and the Company expects payment obligations under the FSD to extend through 2018, subject to payments using bills of exchange as described below. As of June 30, 2017, the Company had made aggregate payments of $1,826.8 million to Thales, of which $1,511.4 million were financed from borrowings under the Credit Facility, and which were capitalized as construction in progress within property and equipment, net in the accompanying condensed consolidated balance sheet. The Credit Facility was fully drawn in February 2017. Prior to the Credit Facility being fully drawn, the Company used the Credit Facility to pay 85% of each invoice received from Thales under the FSD, with the remaining 15% funded from cash on hand. The Company currently pays 100% of each invoice received from Thales from cash and marketable securities on hand or the issuance of a bill of exchange, a French law instrument of indebtedness similar to a promissory note. On July 26, 2017, the Company entered into Amendments 28 and 29 to its FSD. The Company signed Amendment 28 on May 18, 2017, but effectiveness was conditioned on the effectiveness of Amendment 29. Amendment 28 revises the liquidated damages and other cost provisions regarding delays to the Iridium NEXT program. Under Amendment 28, the Company agreed with Thales that liquidated damages for Thales production delays to date would be set at $30.0 million, with this amount to be used only to offset costs otherwise payable by the Company to Thales under the FSD with respect to past and future delays to the launch schedule from causes other than Thales, at agreed upon rates. Any portion of the $30.0 million remaining at the completion of the launch campaign will be forgiven. Liquidated damages owed to the Company from any future delays caused by Thales would remain payable in cash. Similarly, costs payable by the Company to Thales for non-Thales delays exceeding the $30.0 million would be payable in cash. Unless there are substantial future delays to the Iridium NEXT program, the Company expects this arrangement will result in no cash payments due to delays by either party. Amendment 29 provides for the deferral of payment by the Company of approximately $100.0 million in milestones under the FSD that the Company expects to be completed in 2017 and 2018. Under Amendment 29, the Company will pay these milestones using bills of exchange due in March 2019, with interest at a specified base rate (LIBOR or SWAP, depending on the term of the bill of exchange) plus 1.4%, with the bills of exchange guaranteed by Bpifrance Assurance Export S.A.S. (“BPIAE”). Amendment 29 also requires that the Company pay Thales for the BPIAE premium on the guarantee in the amount of $1.0 million in cash at signing plus 1.62% to be paid by bills of exchange on the same terms as stated above, on each bill of exchange to be issued. The Company’s obligations to Thales that are currently scheduled to be paid, including the long-term bills of exchange, during the 12 months ending June 30, 2018 and 2019 are in the amounts of $323.2 million and $104.6 million, respectively, exclusive of fees and related interest. The timing of the Company’s obligations to Thales is based on current expectations regarding Thales’ manufacturing schedule and the targeted Space Exploration Technologies Corp. (“SpaceX”) launch schedule to complete the Iridium NEXT constellation in 2018. SpaceX In March 2010, the Company entered into an agreement with SpaceX to secure SpaceX as the primary launch services provider for Iridium NEXT (as amended to date, the “SpaceX Agreement”). The total price under the SpaceX Agreement for seven launches and a reflight option in the event of a launch failure is $468.1 million. The SpaceX Falcon 9 rocket is configured to carry ten Iridium NEXT satellites to orbit for each of these seven launches. In November 2016, the Company entered into an agreement for an eighth launch with SpaceX to launch five additional satellites and share the launch services with GFZ German Research Centre for Geosciences (“GFZ”). The total price under this additional agreement with SpaceX for the eighth launch is $67.9 million. GFZ will pay Iridium $31.8 million to share the launch services to launch NASA’s two Gravity Recovery and Climate Experiment Follow-On satellites. As of June 30, 2017, the Company had made aggregate payments of $420.4 million to SpaceX, which were capitalized as construction in progress within property and equipment, net in the accompanying condensed consolidated balance sheet. Additionally, the Company received $22.9 million from GFZ as of June 30, 2017. The Company maintains a $1.5 million refundable deposit with SpaceX for the reservation of additional future launches, which is not included in the total contract price. The Company’s obligations to SpaceX that are currently scheduled to be paid during the 12 months ending June 30, 2018 and 2019 are in the amounts of $101.2 million and $14.4 million, respectively. The timing of the Company’s obligations to SpaceX is based on the targeted SpaceX launch schedule to complete the Iridium NEXT constellation in 2018. Kosmotras In June 2011, the Company entered into an agreement with International Space Company Kosmotras (“Kosmotras”) as a supplemental launch service provider for Iridium NEXT (the “Kosmotras Agreement”). In June 2013, the Company exercised an option for one launch to carry two Iridium NEXT satellites. If the Company does not exercise any additional options, the total cost under the contract including this single launch will be $51.8 million. As of June 30, 2017, the Company had made aggregate payments of $36.8 million to Kosmotras, which were capitalized as construction in progress within property and equipment, net in the accompanying condensed consolidated balance sheet. In June 2015, the Company agreed with Kosmotras to replace the remaining options with a new set of options to purchase up to six dedicated launches. Kosmotras has to date been unable to obtain permission to launch the Company’s satellites. If permission is not obtained, the Company may be unable to recover the amounts already paid to Kosmotras. Iridium NEXT Launch and In-Orbit Insurance The Credit Facility requires the Company to obtain insurance covering the launch and first 12 months of operation of the Iridium NEXT satellites. The launch and in-orbit insurance the Company has obtained contains elements, consistent with the terms of the Credit Facility, of self-insurance and deductibles, providing reimbursement only after a specified number of satellite failures. As a result, a failure of one or more of the Company’s NEXT satellites, or the occurrence of equipment failures and other related problems, could constitute an uninsured loss or require the payment of additional premiums and could harm the Company’s financial condition. Furthermore, launch and in-orbit insurance does not cover lost revenue. The total premium for the Company’s current launch and in-orbit insurance is $118.2 million; as of June 30, 2017, the Company had made aggregate premium payments of $48.9 million. The Company’s insurance premium obligations to be paid during the 12 months ending June 30, 2018 are $69.3 million. The timing of the majority of the contractual obligation payments is based on the targeted SpaceX launch schedule to complete the Iridium NEXT constellation in 2018. Credit Facility The Company estimates the aggregate costs associated with the design, build and launch of Iridium NEXT and related infrastructure upgrades through 2018 to be approximately $3 billion. In October 2010, the Company entered into a $1.8 billion credit facility with a syndicate of bank lenders (as amended to date, the “Credit Facility”). As of June 30, 2017, the Company reported $1,688.4 million in borrowings from the credit facility in the accompanying condensed consolidated balance sheet, net of $111.6 million of deferred financing costs, for an aggregate total of $1.8 billion in borrowings. Pursuant to the Credit Facility, the Company maintains a minimum cash reserve for debt repayment in a debt service reserve account (the “DSRA”). As of June 30, 2017, the minimum required cash reserve balance was $135.0 million, which is classified as restricted cash in the accompanying condensed consolidated balance sheet. On July 26, 2017, the Company amended and restated the Credit Facility by a supplemental agreement. As amended, the Credit Facility delays $54.0 million of the Company’s 2017 DSRA contributions, provides a refund of $33.0 million in contributions made to date, and provides for a refund of an additional $11.0 million in contributions made to date in the event that the Company’s projected Available Cash (as defined in the Credit Facility) falls below $35.0 million on a three-month forward-looking basis through March 2019. The delay and refunds are effective through the end of March 2019, at which time the DSRA must be fully funded to the previously agreed amount of $189.0 million. The Credit Facility also requires that the Company establish a new restricted account to receive payment of hosting fees from Aireon. Hosting fees up to $50.0 million would be placed in the restricted account, which the Company could access based on the same $35.0 million three-month forward-looking Available Cash threshold described above. Aireon hosting fees received in excess of the first $50 million would be distributed pro rata to replenish the DSRA and secure the Thales bills of exchange, as described above. The Company will still need to receive a substantial payment of the Aireon hosting fees or make other financing arrangements by the end of the first quarter of 2019 in order to repay Thales and fully fund the DSRA. The Credit Facility does not include any requirements that the Company raise additional equity, but requires the temporary suspension of dividend payments for five quarters on its Series A Preferred Stock and Series B Preferred Stock. As previously announced, in anticipation of this requirement, the Company began this suspension with the dividend payments payable on June 15, 2017. Prior to the Credit Facility being fully drawn, the Company paid interest on the outstanding principal balance under the Credit Facility on a semi-annual basis in April and October through a combination of a cash payment and a deemed additional loan. The Credit Facility was fully drawn in February 2017, and beginning in April 2017, interest is being paid in cash. Interest costs incurred under the Credit Facility were $21.6 million and $42.8 million for the three and six months ended June 30, 2017, respectively, and $19.0 million and $37.2 million for the three and six months ended June 30, 2016, respectively. Scheduled semi-annual principal repayments will begin on March 31, 2018. During this repayment period, interest will be paid on the same date as the principal repayments. All interest costs incurred related to the Credit Facility have been capitalized during the construction period of the Iridium NEXT assets. The funding plan for the $3 billion in costs includes the substantial majority of the funds drawn under the Credit Facility, together with cash and marketable securities on hand, and internally generated cash flows, including contracted cash flows from hosted payloads. While the contracted cash flows from the Company’s primary hosted payload customer, Aireon, are interest-bearing if not paid on time, the Company expects those hosted payload payments to be delayed. Aireon is working to secure contracts with the air navigation service providers automatic dependent surveillance-broadcast, or There can be no assurance that internally generated cash flows, including those from hosting and data services on the Iridium NEXT satellites, will meet the Company’s current expectations. If sufficient cash flows are not generated, or if the cost of implementing Iridium NEXT or the other elements of the Company’s business plan are higher than anticipated, the Company may need further external funding. The ability to obtain additional funding may be adversely affected by a number of factors, including global economic conditions, and such funding may not be available on reasonable terms or at all. If the Company is not able to secure such funding in a timely manner, the ability to maintain the network, to design, build and launch Iridium NEXT and related ground infrastructure, products and services, and to pursue additional growth opportunities will be impaired, and the Company would likely need to delay some elements of the Iridium NEXT development. The Company’s liquidity and the ability to fund its liquidity requirements also depend on the Company’s future financial performance, which is subject to general economic, financial, regulatory and other factors that are beyond the Company’s control. The Company believes that its liquidity sources will provide sufficient funds for it to meet its liquidity requirements for at least the next 12 months. Contingencies From time to time, in the normal course of business, the Company is party to various pending claims and lawsuits. The Company is not aware of any such actions that it would expect to have a material adverse impact on its business, financial results or financial condition.

Boeing Insourcing Agreement

Boeing Insourcing Agreement	6 Months Ended
	Jun. 30, 2017
Boeing Insourcing Agreement [Abstract]
Boeing Insourcing Agreement	5. Boeing Insourcing Agreement On November 28, 2016, the Company entered into an Insourcing Agreement with Boeing for the Company to hire, effective January 3, 2017, the majority of Boeing employees and third party contractors who were responsible for the operations and maintenance of the Company’s satellite constellation and ground infrastructure. Pursuant to the Insourcing Agreement, the Company agreed to pay Boeing $5.5 million, of which $2.75 million was paid in December 2016 and the remaining $2.75 million will be paid in December 2017. Concurrent with the hiring of the assembled workforce on January 3, 2017, the Company and Boeing terminated their previous Operations and Maintenance Agreement (“O&M Agreement”) and Iridium NEXT Support Service Agreement and entered into a new Development Services Agreement (“DSA”) with a $6.0 million minimum annual commitment through 2021. As a result of these agreement terminations, Boeing no longer has a unilateral right to commence the de-orbit of the Company’s first-generation satellites. The assembled workforce was recorded as a definite-lived intangible asset in January 2017 and will be amortized over an estimated useful life of 7 years. Additionally, by terminating the O&M Agreement, the Company recognized a $14.2 million gain from the derecognition of a purchase accounting liability created from GHL Acquisition Corp.’s acquisition of Iridium in 2009 related to the fair value of the contractual arrangement with Boeing as of that date and the remainder of a credit resulting from the July 2010 Boeing O&M contract amendment.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	6. Stock-Based Compensation The Company accounts for stock-based compensation at fair value. The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The fair value of restricted stock units (“RSUs”) is equal to the closing price of the underlying common stock on the grant date. The fair value of an award that is ultimately expected to vest is recognized on a straight-line basis over the requisite service or performance period and is classified in the condensed consolidated statements of operations and comprehensive income in a manner consistent with the classification of the recipient’s compensation. The expected vesting of the Company’s performance-based RSUs is based upon the likelihood that the Company achieves the defined performance goals. The level of achievement of performance goals, if any, is determined by the compensation committee of the Company’s Board of Directors. Stock-based awards to non-employee consultants are expensed at their fair value as services are provided according to the terms of their agreements and are classified in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income. In May 2015, the Company’s stockholders approved the 2015 Equity Incentive Plan (the “2015 Plan”) to provide stock-based awards, including nonqualified stock options, incentive stock options, restricted stock and other equity securities, as incentives and rewards for employees, consultants and non-employee directors. In May 2017, the Company’s stockholders amended and restated the 2015 Plan (the “Amended 2015 Plan”), primarily to increase the number of shares available under the plan. All grants in June 2017 were made under the Amended 2015 Plan, which continues to permit the grant of stock-based awards, including nonqualified stock options, incentive stock options, restricted stock and other equity securities to employees, consultants and non-employee directors. Members of the Company’s board of directors have received a portion of their annual compensation in the form of equity awards under the 2015 Plan. An aggregate amount of approximately 96,000 and 126,000 for each year. During the six months ended June 30, 2017 and 2016, the Company granted approximately 110,000 and 214,000 $0.7 million, respectively. Additionally, during the six months ended , 2017 and 2016, the Company granted 564,000 $4.0 million In March 2017 and 2016, the Company awarded approximately 1,190,000 and 1,335,000 performance-based RSUs to the Company’s executives and employees (the “Bonus RSUs”). The Company records stock-based compensation expense related to performance-based RSUs when it is considered probable that the performance conditions will be met. Vesting of the March 2017 and 2016 Bonus RSUs is and was dependent upon the Company’s achievement of defined performance goals over a one-year period (fiscal year 2017 for the March 2017 Bonus RSUs and fiscal year 2016 for the March 2016 Bonus RSUs). Management believes it is probable that certain of the March 2017 Bonus RSUs will vest. The level of achievement, if any, of performance goals will be determined by the compensation committee of the Company’s Board of Directors and, if such goals are achieved, the March 2017 Bonus RSUs will vest, subject to continued employment, in March 2018. Certain of the March 2016 Bonus RSUs vested in March 2017. The estimated aggregate grant date fair value of the March 2017 and 2016 Bonus RSUs was $10.5 million and $9.4 million, respectively Additionally, in March 2017 and 2016, the Company awarded approximately 173,000 and 119,000 $0.8 million for the 2016 grants In June 2017 and June 2016, the Company granted approximately 8,000 and 35,000 RSUs, respectively, to non-employee consultants. The RSUs are generally subject to service-based vesting. The RSUs will vest 50% in June of the year after the grant and the remaining 50% will vest quarterly thereafter. The estimated aggregate grant date fair value of the RSUs granted to non-employee consultants during the six months ended June 30, 2017 and 2016 was $0.1 million and $0.3 million, respectively.

Equity Transactions and Instrum

Equity Transactions and Instruments	6 Months Ended
	Jun. 30, 2017
Stockholders Equity Note [Abstract]
Equity Transactions and Instruments	7. Equity Transactions and Instruments Preferred Stock The Company is authorized to issue 2.0 million shares of preferred stock with a par value of $0.0001 per share. As described below, the Company issued 1.0 million shares of preferred stock in the fourth quarter of 2012 and 0.5 million shares of preferred stock in the second quarter of 2014. The remaining 0.5 million authorized shares of preferred stock remain undesignated and unissued as of June 30, 2017. Series A Cumulative Perpetual Convertible Preferred Stock In the fourth quarter of 2012, the Company issued 1.0 million shares of its 7.00% Series A Cumulative Perpetual Convertible Preferred Stock (the “Series A Preferred Stock”) in a private offering. The Company received proceeds of $96.5 million from the sale of the Series A Preferred Stock, net of the aggregate $3.5 million in initial purchaser discount and offering costs. The net proceeds of this offering were used to partially fund the construction and deployment of Iridium NEXT and for other general corporate purposes. Holders of Series A Preferred Stock are entitled to receive cumulative cash dividends at a rate of 7.00% per annum of the $100 liquidation preference per share (equivalent to an annual rate of $7.00 per share). Dividends are payable quarterly in arrears on each March 15, June 15, September 15 and December 15. The Series A Preferred Stock does not have a stated maturity date and is not subject to any sinking fund or mandatory redemption provisions. The Series A Preferred Stock ranks senior to the Company’s common stock and pari passu with the Company’s 6.75% Series B Cumulative Perpetual Convertible Preferred Stock (the “Series B Preferred Stock”) with respect to dividend rights and rights upon the Company’s liquidation, dissolution or winding-up. Holders of Series A Preferred Stock generally have no voting rights except for limited voting rights if the Company fails to pay dividends for six or more quarterly periods (whether or not consecutive) and in other specified circumstances. Holders of Series A Preferred Stock may convert some or all of their outstanding Series A Preferred Stock at an initial conversion rate of 10.6022 shares of common stock per $100 liquidation preference, which is equivalent to an initial conversion price of approximately $9.43 per share of common stock (subject to adjustment in certain events). During the three months ended June 30, 2017, the Company began a five-quarter deferral of dividends on the Series A Preferred Stock. No cash dividends were declared or paid during the three months ended June 30, 2017, and no dividends were accrued. During the six months ended June 30, 2017, the Company paid cash dividends of $1.8 million to holders of the Series A Preferred Stock. During the three and six months June 30, 2016, the Company paid cash dividends of $1.8 million and $3.5 million, respectively, to holders of the Series A Preferred Stock. As of June 30, 2017 and December 31, 2016, the Company had accrued $0.3 million in cash dividends for the holders of the Series A Preferred Stock, which is included within accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. On or after October 3, 2017, the Company may, at its option, convert some or all of the Series A Preferred Stock into the number of shares of common stock that are issuable at the then-applicable conversion rate, subject to specified conditions. On or prior to October 3, 2017, the holders of Series A Preferred Stock will have a special right to convert some or all of the Series A Preferred Stock into shares of common stock in the event of fundamental changes described in the Certificate of Designations for the Series A Preferred Stock, subject to specified conditions and limitations. In certain circumstances, the Company may also elect to settle conversions in cash as a result of these fundamental changes. Any suspended dividends are required to be paid prior to conversion. Series B Cumulative Perpetual Convertible Preferred Stock In May 2014, the Company issued 500,000 shares of its Series B Preferred Stock in an underwritten public offering at a price to the public of $250 per share. The purchase price received by the Company, equal to $242.50 per share, reflected an underwriting discount of $7.50 per share. The Company received proceeds of $120.8 million from the sale of the Series B Preferred Stock, net of the $3.8 million underwriter discount and $0.4 million of offering costs. The net proceeds of this offering are being used to partially fund the construction and deployment of Iridium NEXT and for other general corporate purposes. As of June 30, 2017, there were 499,955 shares of Series B Preferred Stock outstanding. Holders of Series B Preferred Stock are entitled to receive cumulative cash dividends at a rate of 6.75% per annum of the $250 liquidation preference per share (equivalent to an annual rate of $16.875 per share). Dividends are payable quarterly in arrears on each March 15, June 15, September 15 and December 15. The Series B Preferred Stock does not have a stated maturity date and is not subject to any sinking fund or mandatory redemption provisions. The Series B Preferred Stock ranks senior to the Company’s common stock and pari passu with respect to the Company’s Series A Preferred Stock with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding-up. Holders of Series B Preferred Stock generally have no voting rights except for limited voting rights if the Company fails to pay dividends for six or more quarterly periods (whether or not consecutive) and in other specified circumstances. Holders of Series B Preferred Stock may convert some or all of their outstanding Series B Preferred Stock at an initial conversion rate of 33.456 shares of common stock per $250 liquidation preference, which is equivalent to an initial conversion price of approximately $7.47 per share of common stock (subject to adjustment in certain events). During the three months ended June 30, 2017, the Company began a five-quarter deferral of dividends on the Series B Preferred Stock. No cash dividends were declared or paid during the three months ended June 30, 2017, and no dividends were accrued. During the six months ended June 30, 2017, the Company paid cash dividends of $2.1 million to holders of the Series B Preferred Stock. During the three and six months ended June 30, 2016, the Company paid cash dividends of $2.1 million and $4.2 million, respectively, to holders of the Series B Preferred Stock. As of June 30, 2017 and December 31, 2016, the Company had accrued $0.4 million in cash dividends for the holders of the Series B Preferred Stock, which is included within accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheet. On or after May 15, 2019, the Company may, at its option, convert some or all of the Series B Preferred Stock into the number of shares of common stock that are issuable at the then-applicable conversion rate, subject to specified conditions. On or prior to May 15, 2019, in the event of certain specified fundamental changes, holders of the Series B Preferred Stock will have the right to convert some or all of their shares of Series B Preferred Stock into the greater of (i) a number of shares of the Company’s common stock as subject to adjustment plus the make-whole premium, if any, and (ii) a number of shares of the Company’s common stock equal to the lesser of (a) the liquidation preference divided by the market value of the Company’s common stock on the effective date of such fundamental change and (b) 81.9672 (subject to adjustment). In certain circumstances, the Company may elect to cash settle any conversions in connection with a fundamental change. Any suspended dividends are required to be paid prior to conversion.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Net Income Per Share	8. Net Income Per Share The Company calculates basic net income per share by dividing net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share takes into account the effect of potential dilutive common shares when the effect is dilutive. The effect of potential dilutive common shares, including common stock issuable upon exercise of outstanding stock options, is computed using the treasury stock method. The effect of potential dilutive common shares from the conversion of outstanding convertible preferred securities is computed using the as-if converted method at the stated conversion rate. The RSUs granted to members of the Company’s board of directors contain non-forfeitable rights to dividends and therefore are considered to be participating securities in periods of net income. As a result, the calculation of basic and diluted net income per share excludes net income attributable to the unvested RSUs granted to the Company’s board of directors from the numerator and excludes the impact of the unvested RSUs granted to the Company’s board of directors from the denominator. The computations of basic and diluted net income per share are as follows: Three Months Ended June 30, 2017 2016 (in thousands, except per share data) Numerator: Net income attributable to common stockholders (numerator for basic net income per share) $ 20,919 $ 22,995 Net income allocated to participating securities (20 ) (30 ) Numerator for basic net income per share 20,899 22,965 Dividends on Series A Preferred Stock, paid and unpaid 1,750 1,750 Dividends on Series B Preferred Stock, paid and unpaid 2,109 2,109 Numerator for diluted net income per share $ 24,758 $ 26,824 Denominator: Denominator for basic net income per share - weighted average outstanding common shares 97,989 95,913 Dilutive effect of stock options 1,571 222 Dilutive effect of contingently issuable shares 54 - Dilutive effect of Series A Preferred Stock 10,602 10,602 Dilutive effect of Series B Preferred Stock 16,727 16,728 Denominator for diluted net income per share 126,943 123,465 Net income per share attributable to common stockholders - basic $ 0.21 $ 0.24 Net income per share attributable to common stockholders - diluted $ 0.20 $ 0.22 For the three months ended June 30, 2017, $1.8 million and $2.1 million in cumulative unpaid dividends to holders of the Series A Preferred Stock and Series B Preferred Stock, respectively, were not declared or accrued as a result of all cash dividends being suspended in connection with the amendments described in Note 4, but such amounts were deducted to arrive at net income attributable to common stockholders. For the three months ended June 30, 2017, 1.8 million unvested non-performance-based RSUs were excluded from the computation of basic net income per share and not included in the computation of diluted net income per share, as the effect would be anti-dilutive, and 0.1 million unvested performance-based RSUs were not included in the computation of basic and diluted net income per share, as certain performance criteria have not been satisfied. For the three months ended June 30, 2016, options to purchase 4.1 million shares of common stock were not included in the computation of diluted net income per share, as the effect would be anti-dilutive. For the three months ended June 30, 2016, 1.5 million unvested non-performance based RSUs were not included in the computation of basic net income per share and excluded from the computation of diluted net income per share, as the effect would be anti-dilutive, and 1.7 million unvested performance-based RSUs were not included in the computation of basic and diluted net income per share, as certain performance criteria have not been satisfied. Six Months Ended June 30, 2017 2016 (in thousands, except per share data) Numerator: Net income attributable to common stockholders (numerator for basic net income per share) $ 55,008 $ 47,656 Net income allocated to participating securities (55 ) (61 ) Numerator for basic net income per share 54,953 47,595 Dividends on Series A Preferred Stock, paid and unpaid 3,500 3,500 Dividends on Series B Preferred Stock, paid and unpaid 4,218 4,218 Numerator for diluted net income per share $ 62,671 $ 55,313 Denominator: Denominator for basic net income per share - weighted average outstanding common shares 97,424 95,782 Dilutive effect of stock options 1,353 112 Dilutive effect of contingently issuable shares 553 3 Dilutive effect of Series A Preferred Stock 10,602 10,602 Dilutive effect of Series B Preferred Stock 16,727 16,728 Denominator for diluted net income per share 126,659 123,227 Net income per share attributable to common stockholders - basic $ 0.56 $ 0.50 Net income per share attributable to common stockholders - diluted $ 0.49 $ 0.45 For the six months ended June 30, 2017, $1.8 million and $2.1 million in cumulative unpaid dividends to holders of the Series A Preferred Stock and Series B Preferred Stock, respectively, were not declared or accrued as a result of all cash dividends being suspended in connection with the amendments described in Note 4, but such amounts were deducted to arrive at net income attributable to common stockholders. For the six months ended June 30, 2017, options to purchase 0.1 million shares of common stock were not included in the computation of diluted net income per share, as the effect would be anti-dilutive. For the six months ended June 30, 2017, 1.6 million unvested non-performance-based RSUs were excluded from the computation of basic net income per share and not included in the computation of diluted net income per share, as the effect would be anti-dilutive, and 0.6 million unvested performance-based RSUs were not included in the computation of basic and diluted net income per share, as certain performance criteria have not been satisfied. For the six months ended June 30, 2016, options to purchase 4.4 million shares of common stock were not included in the computation of diluted net income per share, as the effect would be anti-dilutive. For the six months ended June 30, 2016, 1.4 million unvested non-performance based RSUs were excluded from the computation of basic net income per share and not included in the computation of diluted net income per share, as the effect would be anti-dilutive, and 1.3 million unvested performance-based RSUs were not included in the computation of basic and diluted net income per share, as certain performance criteria have not been satisfied.

Significant Accounting Polici14

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Adopted Accounting Pronouncements	Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation – Stock Compensation, Improvements to Employee Share-Based Payment Accounting • The Company made an accounting policy election to continue estimating the number of awards that are expected to be forfeited, consistent with the Company’s prior practice. • The Company excluded the excess tax benefits and deficiencies component from the treasury stock method in the diluted earnings per share calculation. The change had an immaterial impact on the Company’s reported diluted earnings per share. • The Company recorded current excess tax benefits and tax deficiencies as income tax benefit (expense) in the consolidated statements of operations and comprehensive income. The change resulted in an excess tax benefit of $0.1 million and $1.0 million recorded in the provision for income taxes for the three and six months ended June 30, 2017, respectively. • The Company will present excess tax benefits as an operating activity on the condensed consolidated statement of cash flows rather than as a financing activity. Prior periods have not been adjusted. There were no additional impacts on the Company’s financial statements, resulting from the adoption of ASU 2016-09 that required a retrospective or modified retrospective approach. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In May 2014, the FASB and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard, ASU No. 2014-09, Revenue from Contracts with Customers The Company has established a project team in order to analyze the effect of the standard on its contracts by reviewing its current accounting policies and practices to identify potential differences which would result from applying the requirements of the new standard to its revenue contracts. The Company has aggregated its contracts into homogeneous revenue streams and is continuing to assess all potential effects of the standard. The Company anticipates a change to the recognition pattern of its prepaid revenue from expiration. The Company currently recognizes unused prepaid revenue at the date the right to access the prepaid service has expired. Under the new standard, the Company will estimate the expected revenue that will expire unused and recognize this revenue over the prepaid term. The Company is currently evaluating the impact on revenue from estimating prepaid revenue upon expiration and changing the term over which this revenue is recognized. In February 2016, the FASB issued ASU No. 2016-02, Leases In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash
Warranty Expense	Warranty Expense The Company provides the first end-user purchaser of its subscriber equipment a warranty for one to five years from the date of purchase by such first end-user, depending on the product. The Company maintains a warranty reserve based on historical experience of warranty costs and expected occurrences of warranty claims on equipment. Costs associated with warranties, including equipment replacement, repairs, freight and program administration, are recorded as cost of subscriber equipment in the accompanying condensed consolidated statements of operations and comprehensive income.
Fair Value Measurements	Fair Value Measurements The Company evaluates assets and liabilities subject to fair value measurements on a recurring and non-recurring basis to determine the appropriate level to classify them for each reporting period. This determination requires significant judgments to be made by management of the Company. The instruments identified as subject to fair value measurements on a recurring basis are cash and cash equivalents, marketable securities, prepaid expenses and other current assets, accounts receivable, accounts payable and accrued expenses and other current liabilities. Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. The fair value hierarchy consists of the following tiers: • Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; • Level 2, defined as observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying values of short-term financial instruments (primarily cash and cash equivalents, prepaid expenses and other current assets, accounts receivable, accounts payable, and accrued expenses and other current liabilities) approximate their fair values because of their short-term nature. The fair value of the Company’s investments in money market funds approximates its carrying value; such instruments are classified as Level 1 and are included in cash and cash equivalents in the accompanying condensed consolidated balance sheets. The fair value of the Company’s investments in commercial paper and short-term U.S. agency securities with original maturities of less than ninety days approximates their carrying value; such instruments are classified as Level 2 and are included in cash and cash equivalents in the accompanying condensed consolidated balance sheets. The fair value of the Company’s investments in fixed-income debt securities and commercial paper with original maturities of greater than ninety days are obtained using similar investments traded on active securities exchanges and are classified as Level 2 and are included in marketable securities in the accompanying condensed consolidated balance sheets. For fixed income securities that do not have quoted prices in active markets, the Company uses third-party vendors to price its debt securities resulting in classification as Level 2.
Depreciation and Amortization	Depreciation and Amortization The Company calculates depreciation expense using the straight line method and evaluates the appropriateness of the useful life used on a quarterly basis or as events occur that require additional assessment. Throughout 2017 and 2016, the Company updated its estimate of the first-generation satellites’ remaining useful lives based on the continued refinement of the launch schedule, health of the first-generation constellation, and deployment plan for the Company’s next-generation satellite constellation (“Iridium NEXT”). As a result, the estimated useful lives of the satellites within the first-generation constellation were extended and are consistent with the expected deployment of Iridium NEXT. The Company will continue to evaluate the useful lives of its first-generation satellites on an ongoing basis through the full deployment of Iridium NEXT, which is expected to occur in 2018. The changes in estimate will also have an effect on future periods through the deployment of Iridium NEXT. The $7.5 million increase in depreciation expense for the six months ended June 30, 2017 compared to the same period of the prior year is primarily related to the addition of new assets, including Iridium NEXT satellites placed into service during the six-month period ended June 30, 2017 and assets related to the Russian gateway completed at the end of 2016, partially offset by the continued refinement in the estimated useful lives of the first-generation satellites.

Cash and Cash Equivalents, Re15

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2017
Cash And Cash Equivalents [Abstract]
Summary of Company's Cash and Cash Equivalents	The following table summarizes the Company’s cash and cash equivalents: June 30, December 31, Recurring Fair 2017 2016 Value (in thousands) Cash and cash equivalents: Cash $ 117,885 $ 102,194 Money market funds 217,314 266,478 Level 1 Commercial paper - 2,495 Level 2 Total cash and cash equivalents $ 335,199 $ 371,167
Summary of Company's Marketable Securities	The following tables summarize the Company’s marketable securities: As of June 30, 2017 Amortized Gross Gross Estimated Recurring Fair Cost Unrealized Unrealized Losses Fair Value Value Measurement (in thousands) Fixed-income debt securities $ 17,075 $ 6 $ (6 ) $ 17,075 Level 2 U.S. treasury notes 4,251 - (4 ) 4,247 Level 2 Total marketable securities $ 21,326 $ 6 $ (10 ) $ 21,322 As of December 31, 2016 Amortized Gross Gross Estimated Recurring Fair Cost Unrealized Gains Unrealized Losses Fair Value Value Measurement (in thousands) Fixed-income debt securities $ 30,037 $ 14 $ (11 ) $ 30,040 Level 2 U.S. treasury notes 9,283 7 (2 ) 9,288 Level 2 Total marketable securities $ 39,320 $ 21 $ (13 ) $ 39,328
Summary of Contractual Maturities of Company's Marketable Securities	The following table presents the contractual maturities of the Company’s marketable securities: As of June 30, 2017 As of December 31, 2016 Amortized Fair Amortized Fair Cost Value Cost Value (in thousands) Mature within one year $ 19,828 $ 19,826 $ 32,776 $ 32,788 Mature after one year and within three years 1,498 1,496 6,544 6,540 Total $ 21,326 $ 21,322 $ 39,320 $ 39,328

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Computations of Basic and Diluted Net Income Per Share	The computations of basic and diluted net income per share are as follows: Three Months Ended June 30, 2017 2016 (in thousands, except per share data) Numerator: Net income attributable to common stockholders (numerator for basic net income per share) $ 20,919 $ 22,995 Net income allocated to participating securities (20 ) (30 ) Numerator for basic net income per share 20,899 22,965 Dividends on Series A Preferred Stock, paid and unpaid 1,750 1,750 Dividends on Series B Preferred Stock, paid and unpaid 2,109 2,109 Numerator for diluted net income per share $ 24,758 $ 26,824 Denominator: Denominator for basic net income per share - weighted average outstanding common shares 97,989 95,913 Dilutive effect of stock options 1,571 222 Dilutive effect of contingently issuable shares 54 - Dilutive effect of Series A Preferred Stock 10,602 10,602 Dilutive effect of Series B Preferred Stock 16,727 16,728 Denominator for diluted net income per share 126,943 123,465 Net income per share attributable to common stockholders - basic $ 0.21 $ 0.24 Net income per share attributable to common stockholders - diluted $ 0.20 $ 0.22 Six Months Ended June 30, 2017 2016 (in thousands, except per share data) Numerator: Net income attributable to common stockholders (numerator for basic net income per share) $ 55,008 $ 47,656 Net income allocated to participating securities (55 ) (61 ) Numerator for basic net income per share 54,953 47,595 Dividends on Series A Preferred Stock, paid and unpaid 3,500 3,500 Dividends on Series B Preferred Stock, paid and unpaid 4,218 4,218 Numerator for diluted net income per share $ 62,671 $ 55,313 Denominator: Denominator for basic net income per share - weighted average outstanding common shares 97,424 95,782 Dilutive effect of stock options 1,353 112 Dilutive effect of contingently issuable shares 553 3 Dilutive effect of Series A Preferred Stock 10,602 10,602 Dilutive effect of Series B Preferred Stock 16,727 16,728 Denominator for diluted net income per share 126,659 123,227 Net income per share attributable to common stockholders - basic $ 0.56 $ 0.50 Net income per share attributable to common stockholders - diluted $ 0.49 $ 0.45

Significant Accounting Polici17

Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Accounting Policies [Line Items]
Product warranty description		The Company provides the first end-user purchaser of its subscriber equipment a warranty for one to five years from the date of purchase by such first end-user, depending on the product.
Increase in depreciation expense		$ 7.5
ASU 2016-09 [Member]
Accounting Policies [Line Items]
Excess tax benefit recorded in provision for income taxes	$ 0.1	$ 1

Cash and Cash Equivalents, Re18

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Cash And Cash Equivalents [Line Items]
Cash	$ 117,885	$ 102,194
Total cash and cash equivalents	335,199	371,167	$ 366,981	$ 185,665
Level 1 [Member]
Cash And Cash Equivalents [Line Items]
Money market funds	217,314	266,478
Level 2 [Member]
Cash And Cash Equivalents [Line Items]
Commercial paper	$ 0	$ 2,495

Cash and Cash Equivalents, Re19

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Oct. 31, 2010
Cash And Cash Equivalents [Abstract]
Restricted cash	$ 135,265,000		$ 113,139,000
Line Of Credit Facility, Maximum Borrowing Capacity	1,800,000,000			$ 1,800,000,000
Realized gains or losses on the sale of marketable securities	$ 0	$ 0

Cash and Cash Equivalents, Re20

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Details 1) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Cash And Cash Equivalents [Line Items]
Available-for-sale Securities, Amortized Cost	$ 21,326	$ 39,320
Available-for-sale Securities, Gross Unrealized Gains	6	21
Available-for-sale Securities, Gross Unrealized Losses	(10)	(13)
Available-for-sale Securities, Estimated Fair Value	21,322	39,328
Level 2 [Member] | U.S. Treasury Notes [Member]
Cash And Cash Equivalents [Line Items]
Available-for-sale Securities, Amortized Cost	4,251	9,283
Available-for-sale Securities, Gross Unrealized Gains		7
Available-for-sale Securities, Gross Unrealized Losses	(4)	(2)
Available-for-sale Securities, Estimated Fair Value	4,247	9,288
Level 2 [Member] | Fixed Income Debt Securities [Member]
Cash And Cash Equivalents [Line Items]
Available-for-sale Securities, Amortized Cost	17,075	30,037
Available-for-sale Securities, Gross Unrealized Gains	6	14
Available-for-sale Securities, Gross Unrealized Losses	(6)	(11)
Available-for-sale Securities, Estimated Fair Value	$ 17,075	$ 30,040

Cash and Cash Equivalents, Re21

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Details 2) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Marketable securities:
Mature within one year - Amortized Cost	$ 19,828	$ 32,776
Mature after one year and within three years - Amortized Cost	1,498	6,544
Available-for-sale Securities, Amortized Cost	21,326	39,320
Mature within one year - Estimated Fair Value	19,826	32,788
Mature after one year and within three years - Estimated Fair Value	1,496	6,540
Total - Estimated Fair Value	$ 21,322	$ 39,328

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	Jul. 26, 2017USD ($)	Jun. 30, 2013USD ($)LaunchSatellite	Mar. 31, 2010USD ($)Launch	Nov. 30, 2016USD ($)	Jun. 30, 2015Launch	Jun. 30, 2010USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Satellite	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Oct. 31, 2010USD ($)
Purchase Commitment Excluding Longterm Commitment [Line Items]
Guarantee amount							$ 1,000,000		$ 1,000,000
Line of credit facility, maximum borrowing capacity							1,800,000,000		1,800,000,000			$ 1,800,000,000
Credit facility, net							1,688,420,000		1,688,420,000		$ 1,657,145,000
Deferred financing costs							111,600,000		111,600,000
Credit facility							1,800,000,000		1,800,000,000
Minimum required cash reserve balance for credit facility									135,000,000
Credit facility, interest expense							21,600,000	$ 19,000,000	42,800,000	$ 37,200,000
Syndicate of Bank Lenders Credit Facility [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Credit facility delays DSRA contributions							54,000,000		54,000,000
Refund amount contributed to DSRA							33,000,000		33,000,000
Additional refund amount contributed to DSRA							11,000,000		$ 11,000,000
Description of covenant terms									The Credit Facility also requires that the Company establish a new restricted account to receive payment of hosting fees from Aireon. Hosting fees up to $50.0 million would be placed in the restricted account, which the Company could access based on the same $35.0 million three-month forward-looking Available Cash threshold described above.
Syndicate of Bank Lenders Credit Facility [Member] | Maximum [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Projected available cash on three-month forward-looking basis							35,000,000		$ 35,000,000
Syndicate of Bank Lenders Credit Facility [Member] | Aireon LLC [Member] | Maximum [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Hosting fees required to be placed in restricted account							50,000,000		$ 50,000,000
Syndicate of Bank Lenders Credit Facility [Member] | Series A Preferred Stock and Series B Preferred Stock [Member] | Aireon LLC [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Temporary suspension of dividend payments, term									15 months
Eighth Launch with SpaceX [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Number of additional satellites to launch | Satellite									5
Bills of Exchange [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Debt instrument face amount							$ 100,000,000		$ 100,000,000
Debt instrument interest rate							1.62%		1.62%
Debt instrument, basis spread on variable rate									1.40%
Thales Alenia Space France [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Commitments Price For Design and Build Of Satellites						$ 2,300,000,000
Contract aggregate payment							$ 1,826,800,000		$ 1,826,800,000
Borrowings under credit facility							1,511,400,000		$ 1,511,400,000
Credit facility, description									The Credit Facility was fully drawn in February 2017. Prior to the Credit Facility being fully drawn, the Company used the Credit Facility to pay 85% of each invoice received from Thales under the FSD, with the remaining 15% funded from cash on hand. The Company currently pays 100% of each invoice received from Thales from cash and marketable securities on hand or the issuance of a bill of exchange, a French law instrument of indebtedness similar to a promissory note.
Percentage of invoice paid by credit facility									85.00%
Percentage of invoice paid by cash									15.00%
Expected percentage of invoice paid by cash and marketable securities									100.00%
Contractual Obligation, Due in Next Twelve Months							323,200,000		$ 323,200,000
Contractual Obligation, Due in Second Year							104,600,000		$ 104,600,000
Thales Alenia Space France [Member] | Syndicate of Bank Lenders Credit Facility [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Description of utilization of hosting fees									Aireon hosting fees received in excess of the first $50 million would be distributed pro rata to replenish the DSRA and secure the Thales bills of exchange, as described above.
Thales Alenia Space France [Member] | Promissory Note [Member] | Syndicate of Bank Lenders Credit Facility [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Debt instrument face amount							189,000,000		$ 189,000,000
Thales Alenia Space France [Member] | Subsequent Event
Purchase Commitment Excluding Longterm Commitment [Line Items]
Commitments amendment agreement description	Under Amendment 28, the Company agreed with Thales that liquidated damages for Thales production delays to date would be set at $30.0 million, with this amount to be used only to offset costs otherwise payable by the Company to Thales under the FSD with respect to past and future delays to the launch schedule from causes other than Thales, at agreed upon rates. Any portion of the $30.0 million remaining at the completion of the launch campaign will be forgiven. Liquidated damages owed to the Company from any future delays caused by Thales would remain payable in cash. Similarly, costs payable by the Company to Thales for non-Thales delays exceeding the $30.0 million would be payable in cash.
Liquidated damages	$ 30,000
Space Exploration Technologies Corp [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Contract aggregate payment							420,400,000		420,400,000
Contractual Obligation, Due in Next Twelve Months							101,200,000		101,200,000
Contractual Obligation, Due in Second Year							14,400,000		14,400,000
Refundable deposit paid for additional future launches									$ 1,500,000
Space Exploration Technologies Corp [Member] | One to Seven Launch with SpaceX [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Number of launches for agreement | Launch			7
Maximum Commitments Amount			$ 468,100,000
Space Exploration Technologies Corp [Member] | SpaceX Falcon 9 Rocket [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Number of satellites carried to orbit for each of initial seven launches | Satellite									10
Space Exploration Technologies Corp [Member] | Eighth Launch with SpaceX [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Commitments price for launching of additional satellites				$ 67,900,000
Space Exploration Technologies Corp [Member] | GFZ German Research Centre for Geosciences [Member] | Eighth Launch with SpaceX [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Payment due from related party to share the launch services				$ 31,800,000
Cash received from related party									$ 22,900,000
Space Exploration Technologies Corp [Member] | GFZ German Research Centre for Geosciences [Member] | Gravity Recovery and Climate Experiment Follow-On Satellites [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Number of satellites to launch | Satellite									2
Kosmotras [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Contract aggregate payment							36,800,000		$ 36,800,000
Contractual Obligation, Due in Second Year							15,000,000		15,000,000
Number of launch option exercised | Launch		1
Number of Satellites to carry under exercised option | Satellite		2
Total contract amount		$ 51,800,000
Maximum number of dedicated launches purchased | Launch					6
Iridium NEXT Launch and In-Orbit Insurance [Member]
Purchase Commitment Excluding Longterm Commitment [Line Items]
Contract aggregate payment							48,900,000		$ 48,900,000
Credit facility, description									The Credit Facility requires the Company to obtain insurance covering the launch and first 12 months of operation of the Iridium NEXT satellites.
Contractual Obligation, Due in Next Twelve Months							$ 69,300,000		$ 69,300,000
Insurance coverage period									12 months
Insurance Policy Premium									$ 118,200,000
Estimated aggregate costs associated with launch of satellites									$ 3,000,000,000

Boeing Insourcing Agreement (De

Boeing Insourcing Agreement (Details Textual) - USD ($) $ in Thousands	Jan. 03, 2017	Nov. 28, 2016	Jun. 30, 2017	Dec. 31, 2016
Boeing Insourcing Agreement [Line Items]
Gain from derecognition of purchase accounting liability			$ 14,189
Assembled Workforce [Member]
Boeing Insourcing Agreement [Line Items]
Definite-lived intangible asset	7 years
Insourcing Agreement [Member] | Boeing [Member]
Boeing Insourcing Agreement [Line Items]
Agreed costs associated with hiring of employees		$ 5,500
Agreed costs paid associated with hiring of employees				$ 2,750
Agreed costs payable at year end associated with hiring of employees			$ 2,750
Development Services Agreement [Member] | Boeing [Member]
Boeing Insourcing Agreement [Line Items]
Annual commitment amount	$ 6,000
Annual commitment term	2,021

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) shares in Thousands, $ in Millions	1 Months Ended						6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jan. 31, 2017	Jun. 30, 2016	Mar. 31, 2016	Jan. 31, 2016	Jun. 30, 2017	Jun. 30, 2016
Restricted Stock Units (RSUs) [Member] | Board of Directors Chairman [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, restricted stock units			96			126
Fair value of restricted stock units			$ 1			$ 1
Employee Stock Option [Member] | Employee [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							110	214
Grant date fair value of stock options							$ 0.5	$ 0.7
Share-based compensation Vesting Period							4 years	4 years
Employee Stock Option [Member] | Employee [Member] | Vesting on First Anniversary of Grant Date [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage							25.00%	25.00%
Employee Stock Option [Member] | Employee [Member] | Vesting on the last day of each calendar quarter [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage							6.25%	6.25%
Service Based R S U [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, restricted stock units							964	564
Fair value of restricted stock units							$ 8.5	$ 4
Share-based compensation Vesting Period							4 years	4 years
Service Based R S U [Member] | Vesting on First Anniversary of Grant Date [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage							25.00%	25.00%
Service Based R S U [Member] | Vesting on the last day of each calendar quarter [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage							6.25%	6.25%
Service Based R S U [Member] | Non Employee Consultants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, restricted stock units	8,000			35,000
Fair value of restricted stock units							$ 0.1	$ 0.3
Service Based R S U [Member] | Non Employee Consultants [Member] | Vesting in June of the Year After Grant [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%			50.00%
Service Based R S U [Member] | Non Employee Consultants [Member] | Vesting of Remaining Percentage Quarterly Thereafter [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%			50.00%
Bonus RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, restricted stock units		1,190			1,335
Fair value of restricted stock units		$ 10.5			$ 9.4
Performance Based RSU [Member] | Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, restricted stock units		173			119
Fair value of restricted stock units		$ 1.5			$ 0.8
Share-based compensation Vesting Period		2 years			2 years
Performance Based RSU [Member] | Executives [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage		0.00%			0.00%
Performance Based RSU [Member] | Executives [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage		150.00%			150.00%
Performance Based RSU [Member] | Executives [Member] | Vesting in March in Year After Performance Period End [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage		50.00%			50.00%
Performance Based RSU [Member] | Executives [Member] | Vesting in March of Third Year After Grant [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage		50.00%			50.00%

Equity Transactions and Instr25

Equity Transactions and Instruments (Details Textual) - USD ($)	1 Months Ended	3 Months Ended			6 Months Ended
	May 31, 2014	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2012	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Jun. 30, 2014
Class of Stock [Line Items]
Preferred stock, shares authorized		2,000,000			2,000,000
Preferred stock, par value		$ 0.0001			$ 0.0001
Preferred stock, shares issued				1,000,000				500,000
Shares of preferred stock, undesignated and unissued		500,000			500,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		1,000,000			1,000,000		1,000,000
Preferred stock, par value		$ 0.0001			$ 0.0001		$ 0.0001
Preferred stock, shares issued		1,000,000			1,000,000		1,000,000
Dividend rate on preferred stock				7.00%
Annual rate of preferred stock, per share				$ 7
Preferred stock, liquidation preference per share				$ 100
Shares of common stock converted at initial conversion				10.6022
Initial conversion price of common stock				$ 9.43
Temporary suspension of dividend payments, term					15 months
Dividends on Preferred Stock		$ 0	$ 1,750,000		$ 1,750,000	$ 3,500,000
Accrued dividends on preferred stock			300,000			300,000	$ 300,000
Dividends accrued		$ 0			$ 292,000	292,000
Convertible preferred stock, terms of conversion					On or prior to October 3, 2017, the holders of Series A Preferred Stock will have a special right to convert some or all of the Series A Preferred Stock into shares of common stock in the event of fundamental changes described in the Certificate of Designations for the Series A Preferred Stock, subject to specified conditions and limitations. In certain circumstances, the Company may also elect to settle conversions in cash as a result of these fundamental changes. Any suspended dividends are required to be paid prior to conversion.
Preferred stock, shares outstanding		1,000,000			1,000,000		1,000,000
Series A Preferred Stock [Member] | Private Offering [Member]
Class of Stock [Line Items]
Preferred stock, shares issued				1,000,000
Dividend rate on preferred stock				7.00%
Proceeds from sale of preferred stock				$ 96,500,000
Aggregate discount and offering costs				$ 3,500,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		500,000			500,000		500,000
Preferred stock, par value		$ 0.0001			$ 0.0001		$ 0.0001
Preferred stock, shares issued		500,000			500,000		500,000
Dividend rate on preferred stock	6.75%				6.75%
Annual rate of preferred stock, per share					$ 16.875
Preferred stock, liquidation preference per share		$ 250			$ 250
Shares of common stock converted at initial conversion		33.456			33.456
Initial conversion price of common stock		$ 7.47			$ 7.47
Temporary suspension of dividend payments, term					15 months
Dividends on Preferred Stock		$ 0	$ 2,109,000		$ 2,109,000	4,218,000
Accrued dividends on preferred stock		400,000			400,000		$ 400,000
Dividends accrued		$ 0			$ 352,000	$ 352,000
Convertible preferred stock, terms of conversion					On or prior to May 15, 2019, in the event of certain specified fundamental changes, holders of the Series B Preferred Stock will have the right to convert some or all of their shares of Series B Preferred Stock into the greater of (i) a number of shares of the Company’s common stock as subject to adjustment plus the make-whole premium, if any, and (ii) a number of shares of the Company’s common stock equal to the lesser of (a) the liquidation preference divided by the market value of the Company’s common stock on the effective date of such fundamental change and (b) 81.9672 (subject to adjustment). In certain circumstances, the Company may elect to cash settle any conversions in connection with a fundamental change. Any suspended dividends are required to be paid prior to conversion.
Preferred stock, shares outstanding		499,955			499,955		500,000
Series B Preferred Stock [Member] | Public Offering [Member]
Class of Stock [Line Items]
Preferred stock, shares issued	500,000
Preferred stock, price per share	$ 250
Series B Preferred Stock [Member] | Private Offering [Member]
Class of Stock [Line Items]
Proceeds from sale of preferred stock	$ 120,800,000
Aggregate discount and offering costs	$ 400,000
Preferred stock, liquidation preference per share		$ 250			$ 250
Preferred stock, purchase price per share	$ 242.50
Underwriting discount price per share	$ 7.50
Payment of underwriter discount	$ 3,800,000

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income attributable to common stockholders (numerator for basic net income per share)	$ 20,919	$ 22,995	$ 55,008	$ 47,656
Net income allocated to participating securities	(20)	(30)	(55)	(61)
Numerator for basic net income per share	20,899	22,965	54,953	47,595
Numerator for diluted net income per share	$ 24,758	$ 26,824	$ 62,671	$ 55,313
Denominator:
Denominator for basic net income per share - weighted average outstanding common shares	97,989	95,913	97,424	95,782
Dilutive effect of contingently issuable shares	54	0	553	3
Denominator for diluted net income per share	126,943	123,465	126,659	123,227
Net income per share attributable to common stockholders - basic	$ 0.21	$ 0.24	$ 0.56	$ 0.50
Net income per share attributable to common stockholders - diluted	$ 0.20	$ 0.22	$ 0.49	$ 0.45
Equity Option [Member]
Denominator:
Dilutive effect of stock options	1,571	222	1,353	112
Series A Preferred Stock [Member]
Numerator:
Dividends on Preferred Stock, paid and unpaid	$ 1,750	$ 1,750	$ 3,500	$ 3,500
Denominator:
Dilutive effect of Preferred Stock	10,602	10,602	10,602	10,602
Series B Preferred Stock [Member]
Numerator:
Dividends on Preferred Stock, paid and unpaid	$ 2,109	$ 2,109	$ 4,218	$ 4,218
Denominator:
Dilutive effect of Preferred Stock	16,727	16,728	16,727	16,728

Net Income Per Share (Details T

Net Income Per Share (Details Textual) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Unvested Non-Performance-Based Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	1.8	1.5	1.6	1.4
Unvested Performance-Based Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	0.1	1.7	0.6	1.3
Employee Stock Option [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share		4.1	0.1	4.4
Series A Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Cumulative unpaid and not accrued dividends	$ 1.8		$ 1.8
Series B Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Cumulative unpaid and not accrued dividends	$ 2.1		$ 2.1