Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 21, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | GOGO | ||
Entity Registrant Name | Gogo Inc. | ||
Entity Central Index Key | 1,537,054 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 86,296,105 | ||
Entity Public Float | $ 487,690,195 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 117,302 | $ 147,342 |
Short-term investments | 338,477 | 219,491 |
Total cash, cash equivalents and short-term investments | 455,779 | 366,833 |
Accounts receivable, net of allowances of $499 and $417, respectively | 73,743 | 69,317 |
Inventories | 50,266 | 20,937 |
Prepaid expenses and other current assets | 24,942 | 10,920 |
Total current assets | 604,730 | 468,007 |
Non-current assets: | ||
Property and equipment, net | 519,810 | 434,490 |
Intangible assets, net | 85,175 | 78,823 |
Goodwill | 620 | 620 |
Long-term restricted cash | 7,773 | 7,535 |
Other non-current assets | 28,088 | 14,878 |
Total non-current assets | 641,466 | 536,346 |
Total assets | 1,246,196 | 1,004,353 |
Current liabilities: | ||
Accounts payable | 31,689 | 28,189 |
Accrued liabilities | 132,055 | 88,690 |
Accrued airline revenue share | 15,521 | 13,708 |
Deferred revenue | 32,722 | 24,055 |
Deferred airborne lease incentives | 36,277 | 21,659 |
Current portion of long-term debt and capital leases | 2,799 | 21,277 |
Total current liabilities | 251,063 | 197,578 |
Non-current liabilities: | ||
Long-term debt | 800,715 | 542,573 |
Deferred airborne lease incentives | 135,879 | 121,732 |
Deferred tax liabilities | 8,264 | 7,425 |
Other non-current liabilities | 90,668 | 68,850 |
Total non-current liabilities | 1,035,526 | 740,580 |
Total liabilities | 1,286,589 | 938,158 |
Commitments and contingencies | ||
Stockholders' equity | ||
Common stock, par value $0.0001 per share; 500,000,000 shares authorized at December 31, 2016 and 2015; 86,529,907 and 86,137,856 shares issued at December 31, 2016 and 2015, respectively; and 86,295,870 and 85,913,206 shares outstanding at December 31, 2016 and 2015, respectively | 9 | 9 |
Additional paid-in-capital | 879,135 | 861,243 |
Accumulated other comprehensive loss | (2,163) | (2,188) |
Accumulated deficit | (917,374) | (792,869) |
Total stockholders' equity (deficit) | (40,393) | 66,195 |
Total liabilities and stockholders' equity (deficit) | $ 1,246,196 | $ 1,004,353 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Allowances on accounts receivable | $ 499 | $ 417 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 86,529,907 | 86,137,856 |
Common stock, shares outstanding | 86,295,870 | 85,913,206 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue: | |||
Service revenue | $ 514,293 | $ 419,975 | $ 322,747 |
Equipment revenue | 82,257 | 80,913 | 85,744 |
Total revenue | 596,550 | 500,888 | 408,491 |
Operating expenses: | |||
Cost of service revenue (exclusive of items shown below) | 226,078 | 187,803 | 172,628 |
Cost of equipment revenue (exclusive of items shown below) | 48,650 | 40,558 | 39,723 |
Engineering, design and development | 96,713 | 87,437 | 69,519 |
Sales and marketing | 61,177 | 56,143 | 42,107 |
General and administrative | 84,927 | 86,753 | 70,732 |
Depreciation and amortization | 105,642 | 87,036 | 64,451 |
Total operating expenses | 623,187 | 545,730 | 459,160 |
Operating loss | (26,637) | (44,842) | (50,669) |
Other (income) expense: | |||
Interest income | (1,635) | (181) | (61) |
Interest expense | 83,647 | 58,889 | 32,738 |
Loss on extinguishment of debt | 15,406 | ||
Adjustment of deferred financing costs | (792) | 2,251 | |
Other (income) expense | (72) | 574 | 9 |
Total other expense | 96,554 | 61,533 | 32,686 |
Loss before income taxes | (123,191) | (106,375) | (83,355) |
Income tax provision | 1,314 | 1,238 | 1,183 |
Net loss | $ (124,505) | $ (107,613) | $ (84,538) |
Net loss attributable to common stock per share-basic and diluted | $ (1.58) | $ (1.35) | $ (0.99) |
Weighted average number of shares-basic and diluted | 78,915 | 79,701 | 85,147 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||||||||||
Net loss | $ (26,932) | $ (33,273) | $ (40,194) | $ (24,106) | $ (33,879) | $ (28,870) | $ (24,772) | $ (20,092) | $ (124,505) | $ (107,613) | $ (84,538) |
Currency translation adjustments | 25 | (988) | (775) | ||||||||
Comprehensive loss | $ (124,480) | $ (108,601) | $ (85,313) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||
Net loss | $ (124,505) | $ (107,613) | $ (84,538) |
Adjustments to reconcile net loss to cash provided by operating activities: | |||
Depreciation and amortization | 105,642 | 87,036 | 64,451 |
Loss on asset disposals/abandonments | 4,583 | 3,044 | 3,389 |
Deferred income taxes | 839 | 827 | 828 |
Stock compensation expense | 17,621 | 15,299 | 9,816 |
Loss on extinguishment of debt | 15,406 | ||
Amortization of deferred financing costs | 3,803 | 4,169 | 3,173 |
Accretion of debt discount | 17,496 | 12,555 | |
Adjustment of deferred financing costs | (792) | 2,251 | |
Changes in operating assets and liabilities: | |||
Accounts receivable | (4,265) | (21,563) | (23,035) |
Inventories | (29,329) | 976 | (8,267) |
Prepaid expenses and other current assets | (14,473) | 2,717 | 2,070 |
Accounts payable | (3,118) | (4,307) | 8,336 |
Accrued liabilities | 3,836 | 24,927 | (1,823) |
Deferred airborne lease incentives | 14,652 | 36,895 | 30,199 |
Deferred revenue | 26,981 | 23,895 | 7,326 |
Deferred rent | (47) | 21,206 | 13,290 |
Accrued interest | 35,825 | 4,508 | 7 |
Accrued airline revenue share | 1,815 | 439 | 3,315 |
Other non-current assets and liabilities | (6,982) | (2,405) | 435 |
Net cash provided by (used in) operating activities | 64,988 | 104,856 | 28,972 |
Investing activities: | |||
Proceeds from the sale of property and equipment | 84 | 75 | 32 |
Purchases of property and equipment | (148,294) | (135,201) | (132,098) |
Acquisition of intangible assets-capitalized software | (28,587) | (17,947) | (17,465) |
Purchases of short-term investments | (363,436) | (369,402) | (119,924) |
Redemptions of short-term investments | 244,450 | 229,852 | 39,983 |
(Increase) decrease in investing restricted cash | 224 | (192) | (2,500) |
Net cash used in investing activities | (295,559) | (292,815) | (231,972) |
Financing activities: | |||
Proceeds from issuance of senior secured notes | 525,000 | ||
Payments on amended and restated credit agreement | (310,132) | (8,749) | (7,079) |
Proceeds from issuance of convertible notes | 361,940 | ||
Forward transactions | (140,000) | ||
Proceeds from credit facilities | 75,000 | ||
Payment of debt issuance costs | (11,474) | (12,608) | (1,500) |
Payments on capital leases | (2,612) | (1,995) | (1,491) |
Stock-based compensation activity | 271 | 4,633 | 3,065 |
Net cash provided by financing activities | 201,053 | 203,221 | 67,995 |
Effect of exchange rate changes on cash | (522) | 785 | (42) |
Increase (decrease) in cash and cash equivalents | (30,040) | 16,047 | (135,047) |
Cash and cash equivalents at beginning of period | 147,342 | 131,295 | 266,342 |
Cash and cash equivalents at end of period | 117,302 | 147,342 | 131,295 |
Supplemental Cash Flow Information: | |||
Cash paid for interest | 27,535 | 38,677 | 29,736 |
Cash paid for taxes | 305 | 446 | 414 |
Non-cash Investing and Financing Activities: | |||
Purchases of property and equipment in current liabilities | 39,492 | 29,305 | 30,404 |
Purchases of property and equipment paid by commercial airlines | 13,804 | 10,163 | 5,558 |
Purchases of property and equipment under capital leases | 2,177 | 1,395 | 3,125 |
Acquisition of intangible assets in current liabilities | 1,623 | 1,549 | 1,511 |
Asset retirement obligation incurred | $ 11 | $ 1,181 | $ 1,518 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
Beginning Balance at Dec. 31, 2013 | $ 270,190 | $ 8 | $ 871,325 | $ (425) | $ (600,718) |
Beginning Balance, Shares at Dec. 31, 2013 | 84,976,392 | ||||
Net loss | (84,538) | (84,538) | |||
Currency translation adjustments, net of tax | (775) | (775) | |||
Stock-based compensation expense | 9,816 | 9,816 | |||
Issuance of common stock upon exercise of stock options | 2,692 | $ 1 | 2,691 | ||
Issuance of common stock upon exercise of stock options, Shares | 286,141 | ||||
Issuance of common stock upon vesting of restricted stock units, Shares | 10,157 | ||||
Tax withholding related to vesting of restricted stock units | (41) | (41) | |||
Issuance of common stock in connection with employee stock purchase plan | 414 | 414 | |||
Issuance of common stock in connection with employee stock purchase plan, Shares | 28,084 | ||||
Ending Balance at Dec. 31, 2014 | 197,758 | $ 9 | 884,205 | (1,200) | (685,256) |
Ending Balance, Shares at Dec. 31, 2014 | 85,300,774 | ||||
Net loss | (107,613) | (107,613) | |||
Currency translation adjustments, net of tax | (988) | (988) | |||
Stock-based compensation expense | 15,299 | 15,299 | |||
Issuance of common stock upon exercise of stock options | 4,824 | 4,824 | |||
Issuance of common stock upon exercise of stock options, Shares | 418,681 | ||||
Issuance of common stock upon vesting of restricted stock units, Shares | 122,633 | ||||
Tax withholding related to vesting of restricted stock units | (1,233) | (1,233) | |||
Issuance of common stock in connection with employee stock purchase plan | 1,042 | 1,042 | |||
Issuance of common stock in connection with employee stock purchase plan, Shares | 71,118 | ||||
Issuance of Convertible Notes (including issuance costs) | 97,106 | 97,106 | |||
Issuance of Forward Transactions | (140,000) | (140,000) | |||
Ending Balance at Dec. 31, 2015 | 66,195 | $ 9 | 861,243 | (2,188) | (792,869) |
Ending Balance, Shares at Dec. 31, 2015 | 85,913,206 | ||||
Net loss | (124,505) | (124,505) | |||
Currency translation adjustments, net of tax | 25 | 25 | |||
Stock-based compensation expense | 17,621 | 17,621 | |||
Issuance of common stock upon exercise of stock options | 110 | 110 | |||
Issuance of common stock upon exercise of stock options, Shares | 12,150 | ||||
Issuance of common stock upon vesting of restricted stock units, Shares | 227,429 | ||||
Tax withholding related to vesting of restricted stock units | (1,199) | (1,199) | |||
Issuance of common stock in connection with employee stock purchase plan | 1,360 | 1,360 | |||
Issuance of common stock in connection with employee stock purchase plan, Shares | 143,085 | ||||
Ending Balance at Dec. 31, 2016 | $ (40,393) | $ 9 | $ 879,135 | $ (2,163) | $ (917,374) |
Ending Balance, Shares at Dec. 31, 2016 | 86,295,870 |
Background
Background | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Background | 1. Background Gogo Inc. (“we”, “us”, “our”) is a holding company, which through its operating subsidiaries is a provider of in-flight in-cabin “CA-NA”, “CA-ROW” CA-NA CA-ROW Wi-Fi-enabled in-flight Wi-Fi CA-NA CA-ROW CA-ROW in-flight in-flight in-flight in-flight |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Principles of Consolidation — We were the managing member of ACM, an affiliate whose units were owned by members of management. ACM was established for the sole purpose of providing an ownership stake in us to members of management, and ACM’s transactions effectively represent a stock-based compensation plan (see Note 11, “Stock-Based Compensation Expense,” for further information). Since we were the managing member of ACM and thereby controlled ACM, including controlling which members of management were granted ownership interests, ACM was included in our consolidated financial statements prior to its dissolution in 2014. Use of Estimates Revisions Our short-term investments are comprised of investments in U.S. Treasury bills with remaining maturities at the date of purchase of more than three months but less than twelve months. We have the intent and ability to hold our short-term investments to maturity at the time of purchase and we reevaluate such determination each reporting period. Therefore, we classify our short-term investments as held-to-maturity. We assessed the materiality of these classification changes, taking into account quantitative and qualitative factors, and determined them to be immaterial to the consolidated balance sheet as of December 31, 2015 and to the consolidated statement of cash flows for the years ended December 31, 2015 and 2014. There is no impact to the consolidated statements of operations for any period reported. While these immaterial classification changes could have been reflected prospectively, we elected to revise the previously reported consolidated balance sheet and consolidated statement of cash flows in order to provide greater comparability for the periods presented. Therefore, we have revised the previously reported cash and cash equivalents to reflect the classification of our investments in U.S. Treasury bills as short-term investments on the balance sheet as of December 31, 2015. Additionally, we have revised previously reported net cash used in investing activities in the consolidated statement of cash flows for the years ended December 31, 2015 and 2014 to include changes in our short-term investments. Below are the line items from our consolidated balance sheet as of December 31, 2015 illustrating the effect of these immaterial revisions ( in thousands As of December 31, 2015 As Reported Revisions As Revised Current assets: Cash and cash equivalents $ 366,833 $ (219,491 ) $ 147,342 Short-term investments — 219,491 219,491 Total cash, cash equivalents and short-term investments 366,833 — 366,833 Accounts receivable, net of allowances 69,317 — 69,317 Inventories 20,937 — 20,937 Prepaid expenses and other current assets 10,920 — 10,920 Total current assets $ 468,007 $ — $ 468,007 Below are the line items from our consolidated statement of cash flows for the years ended December 31, 2015 and 2014 illustrating the effect of these immaterial revisions ( in thousands Year Ended December 31, 2015 Year Ended December 31, 2014 As Revision As Revised As Revision As Revised Net cash provided by operating activities $ 104,856 $ — $ 104,856 $ 28,972 $ — $ 28,972 Investing activities: Proceeds from the sale of property and equipment 75 — 75 32 — 32 Purchases of property and equipment (135,201 ) — (135,201 ) (132,098 ) — (132,098 ) Acquisition of intangible assets—capitalized software (17,947 ) — (17,947 ) (17,465 ) — (17,465 ) Acquisition of short-term investments — (369,402 ) (369,402 ) — (119,924 ) (119,924 ) Redemption of short-term investments — 229,852 229,852 — 39,983 39,983 Increase in restricted cash (192 ) — (192 ) (2,500 ) — (2,500 ) Net cash used in investing activities (153,265 ) (139,550 ) (292,815 ) (152,031 ) (79,941 ) (231,972 ) Net cash provided by financing activities 203,221 — 203,221 67,995 — 67,995 Effect of exchange rate changes on cash 785 — 785 (42 ) — (42 ) Increase (decrease) in cash and cash equivalents 155,597 (139,550 ) 16,047 (55,106 ) (79,941 ) (135,047 ) Cash and cash equivalents at beginning of period 211,236 (79,941 ) 131,295 266,342 — 266,342 Cash and cash equivalents at end of period $ 366,833 $ (219,491 ) $ 147,342 $ 211,236 $ (79,941 ) $ 131,295 Significant Risks and Uncertainties Cash, Cash Equivalents and Short-Term Investments— We consider short-term investments to be investments with maturities of twelve months or less (but greater than three months). Currently all our short-term investments are comprised of U.S. Treasury bills, which we intend to hold to maturity. Certain cash amounts are restricted as to use and are classified outside of cash and cash equivalents. See Note 6, “Long-term Debt and Other Liabilities,” for further details. Concentrations of Credit Risk— See Note 10, “Business Segments and Major Customers,” for further details. Income Tax— See Note 13, “Income Tax,” for further details. Inventories— See Note 4, “Composition of Certain Balance Sheet Accounts,” for further details. Property and Equipment and Depreciation— Office equipment, furniture, fixtures and other 3-7 years Leasehold improvements 3-13 years Airborne equipment 7 years Network equipment 5-25 See Note 4, “Composition of Certain Balance Sheet Accounts,” for further details. Improvements to leased property are amortized over the shorter of the useful life of the improvement or the term of the related lease. Repairs and maintenance costs are expensed as incurred. Due to advances in technology and changes in agreements with our airline partners, with respect to upgrading equipment, we periodically reassess the useful lives of our property and equipment. Such reassessment has resulted in the useful life of specific assets being adjusted to a shorter period than originally estimated, resulting in an increase in annual depreciation expense for those assets. Goodwill and Other Intangible Assets— Our quantitative impairment testing of the FCC Licenses uses the Greenfield method, an income-based approach. When performing this quantitative impairment testing, we estimate the fair value of the goodwill and FCC Licenses asset balances based primarily on projected future operating results, discounted cash flows, and other assumptions. Projected future operating results and cash flows used for valuation purposes may reflect considerable improvements relative to historical periods with respect to, among other things, revenue growth and operating margins. Although we believe our projected future operating results and cash flows and related estimates regarding fair values are based on reasonable assumptions, projected operating results and cash flows may not always be achieved. The failure to achieve one or more of our assumptions regarding projected operating results and cash flows in the near term or long term could reduce the estimated fair value below carrying value and result in the recognition of an impairment charge. The results of our annual goodwill and indefinite-lived intangible asset impairment assessments for 2016, 2015 and 2014 indicated no impairment. Intangible assets that are deemed to have a finite life are amortized over their useful lives as follows: Software 3-8 years OEM and dealer relationships 10 years Service customer relationships 5-7 years Other intangible assets 4-12 years See Note 5, “Intangible Assets,” for further details. Long-Lived Assets— Arrangements with Commercial Airlines— Additionally, equipment transactions under one form of agreement, which we have used on a limited basis but expect to use more in the future, qualify for sale treatment due to the specific provisions of the agreement. In the majority of our agreements with commercial airlines, we are required to pay the airline a percentage of the service revenues generated from transactions with the airline’s passengers. Such payments are essentially contingent rental payments and are recorded at the same time as the related passenger service revenue and classified as cost of service revenue in the consolidated statements of operations. Certain airlines are also entitled under their contracts to reimbursement by us for certain costs, which are deemed additional rental payments and classified as cost of service revenue in our consolidated statements of operations. See Note 14, “Leases,” for further details. Revenue Recognition— CA-NA CA-ROW point-of-sale CA-NA’s CA-NA CA-ROW CA-NA CA-ROW e-commerce e-commerce CA-NA CA-ROW fixed-fee per-MB We recognize revenue for equipment sales when the following conditions have been satisfied: the equipment has been shipped to the customer, title and risk of loss and control have transferred to the customer, we have no future obligations for installation or maintenance service, the price is fixed or determinable, collectability is reasonably assured and, for the CA-NA CA-ROW We have multi-element arrangements that include equipment, connectivity services, installation and various in-flight CA-NA Service revenue for BA generally consists of monthly recurring and usage fees, which are recognized monthly as the services are provided and billed to customers. Additionally, CA-NA CA-ROW Research and Development Costs— Software Development Costs— non-network With respect to software sold as part of our equipment sales, we capitalize software development costs once technological feasibility has been established. Capitalized software costs are amortized on a product-by-product Warranty— Asset Retirement Obligations— See Note 4, “Composition of Certain Balance Sheet Accounts,” for the details of the changes in our asset retirement obligations. Fair Value of Financial Instruments— See Note 9, “Fair Value of Financial Assets and Liabilities,” for further information. Derivatives— Derivatives and Hedging See Note 6, “Long-Term Debt and Other Liabilities,” Note 8, “Common Stock and Preferred Stock,” and Note 9, “Fair Value of Financial Assets and Liabilities,” for further information. Convertible Notes— paid-in See Note 6, “Long-Term Debt and Other Liabilities,” for further information. Net Loss Per Share— See Note 3, “Net Loss Per Share,” for further information. Stock-Based Compensation Expense— 2016-09, Improvements to Employee Share-Based Payment Accounting 2016-09”), See Note 11, “Stock-Based Compensation,” for further discussion. Leases— For leases that contain predetermined fixed escalations of the minimum rent, we recognize the related rent expense on a straight-line basis over the term of the lease. We record any difference between the straight-line rent amounts and amounts payable under the lease as deferred rent, in either accrued liabilities or as a separate line within noncurrent liabilities, as appropriate, in our consolidated balance sheets. For leases that qualify as a capital lease, we record a capital lease asset and a capital lease obligation at the beginning of the lease term at an amount equal to the present value of minimum lease payments during the term of the lease, excluding that portion of the payments that represent executory costs. The capital lease asset is depreciated on a straight-line method over the shorter of its estimated useful life or lease term. See Note 14, “Leases,” for further information. Advertising Costs— Debt Issuance Costs— See Note 6, “Long-Term Debt and Other Liabilities” for further information. Comprehensive Loss— Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue From Contracts With Customers 2014-09”). 2014-09 up-front In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern 2014-15”). In March 2016, the FASB issued ASU 2016-02, Leases 2016-02”), 2016-02 Revenue from Contracts with Customers 2016-02 2016-02 In March 2016, the FASB issued ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products 2016-04”), 2016-04 2016-04 In March 2016, the FASB issued ASU 2016-09, 2016-09 In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments 2016-15”), Statement of Cash Flows 2016-15. In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory 2016-16”), Income Taxes 2016-16 In November 2016, the FASB issued ASU 2016-18, Restricted Cash—A Consensus of the FASB Emerging Issues Task Force 2016-18”), Statement of Cash Flows 2016-18 |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | 3. Net Loss Per Share Basic and diluted net loss per share have been calculated using the weighted-average number of common shares outstanding for the period. The shares of common stock effectively repurchased in connection with the Forward Transactions (as defined and described in Note 6, “Long-Term Debt and Other Liabilities”) are considered participating securities requiring the two-class As a result of the net loss for each of the years ended December 31, 2016, 2015 and 2014 for the periods where such shares or securities were outstanding, all of the outstanding shares of common stock underlying stock options, ACM Units, deferred stock units and restricted stock units were excluded from the computation of diluted shares outstanding because they were anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014; however, because of the undistributed losses, the shares associated with the Forward Transactions are excluded from the computation of basic earnings per share as undistributed losses are not allocated to these shares ( in thousands, except per share amounts For the Years Ended December 31, 2016 2015 2014 Net loss $ (124,505 ) $ (107,613 ) $ (84,538 ) Less: Participation rights of the Forward Transactions — — — Undistributed losses $ (124,505 ) $ (107,613 ) $ (84,538 ) Weighted-average common shares outstanding-basic and diluted 78,915 79,701 85,147 Net loss attributable to common stock per share-basic and diluted $ (1.58 ) $ (1.35 ) $ (0.99 ) |
Composition of Certain Balance
Composition of Certain Balance Sheet Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Composition of Certain Balance Sheet Accounts | 4. Composition of Certain Balance Sheet Accounts Inventories as of December 31, 2016 and 2015, all of which were included within the BA segment, were as follows ( in thousands December 31, 2016 2015 Work-in-process $ 39,150 $ 13,866 Finished goods 11,116 7,071 Total inventory $ 50,266 $ 20,937 Property and equipment as of December 31, 2016 and 2015 were as follows ( in thousands December 31, 2016 2015 Office equipment, furniture, fixtures and other $ 49,529 $ 43,447 Leasehold improvements 42,143 42,318 Airborne equipment 557,196 414,381 Network equipment 168,121 156,890 816,989 657,036 Accumulated depreciation (297,179 ) (222,546 ) Property and equipment, net $ 519,810 $ 434,490 Accrued liabilities as of December 31, 2016 and 2015 consist of the following ( in thousands December 31, 2016 2015 Employee compensation and benefits $ 21,008 $ 23,668 Airborne equipment and installation costs 22,442 17,503 Airborne partner related accrued liabilities 14,307 11,387 Accrued interest 40,436 4,611 Other 33,862 31,521 Total accrued liabilities $ 132,055 $ 88,690 Other non-current in thousands December 31, 2016 2015 Deferred rent $ 36,538 $ 36,656 Deferred revenue 38,976 20,758 Asset retirement obligations 8,527 7,847 Other 6,627 3,589 Total other non-current $ 90,668 $ 68,850 Changes in our warranty reserve for the years ended December 31, 2016, 2015 and 2014 consist of the following ( in thousands Warranty Reserve Balance—January 1, 2014 $ 880 Accruals for warranties issued 519 Settlements of warranties (314 ) Balance—December 31, 2014 1,085 Accruals for warranties issued 1,882 Settlements of warranties (1,133 ) Balance—December 31, 2015 1,834 Accruals for warranties issued 1,535 Settlements of warranties (793 ) Balance—December 31, 2016 $ 2,576 Changes in our non-current in thousands Asset Balance—January 1, 2015 $ 6,153 Liabilities incurred (1) 1,181 Liabilities settled (156 ) Accretion expense 712 Foreign exchange rate adjustments (43 ) Balance—December 31, 2015 7,847 Liabilities incurred (2) 11 Liabilities settled (174 ) Accretion expense 835 Foreign exchange rate adjustments 8 Balance—December 31, 2016 $ 8,527 (1) Includes $0.3 million related to a change in estimate in the expected cash flows for our estimated liabilities. (2) Includes $0.5 million related to a change in estimate in the expected cash flows for our estimated liabilities. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | 5. Intangible Assets Our intangible assets are comprised of indefinite- and finite-lived intangible assets. We own the rights to both 3MHz of ATG spectrum in the nationwide 800 MHz Commercial Air-Ground Air-Ground 10-year Our software relates to the development of internal use software which is used to run our network and support our service offerings. Software also includes software embedded in the equipment that we sell to our customers within the BA segment. Our goodwill balance, all of which related to our BA segment, was $0.6 million as of December 31, 2016 and 2015. Our intangible assets, other than goodwill, as of December 31, 2016 and 2015 were as follows ( in thousands, except for weighted average remaining useful life Weighted Remaining As of December 31, 2016 As of December 31, 2015 Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Software 2.4 $ 118,836 $ (70,127 ) $ 48,709 $ 90,925 $ (50,760 ) $ 40,165 OEM and dealer relationships 6,724 (6,667 ) 57 6,724 (5,995 ) 729 Service customer relationships 3.3 8,081 (4,773 ) 3,308 8,081 (3,757 ) 4,324 Other intangible assets 1.9 1,500 (682 ) 818 1,500 (178 ) 1,322 Total amortized intangible assets 135,141 (82,249 ) 52,892 107,230 (60,690 ) 46,540 Unamortized intangible assets: FCC Licenses 32,283 — 32,283 32,283 — 32,283 Total intangible assets $ 167,424 $ (82,249 ) $ 85,175 $ 139,513 $ (60,690 ) $ 78,823 Amortization expense for the years ended December 31, 2016, 2015 and 2014 was $21.6 million, $17.6 million and $11.0 million, respectively. Amortization expense for each of the next five years and thereafter is estimated to be as follows ( in thousands Years ending December 31, Amortization 2017 $ 21,830 2018 $ 15,467 2019 $ 9,070 2020 $ 2,049 2021 $ 1,328 Thereafter $ 3,148 Actual future amortization expense could differ from the estimated amount as the result of future investments and other factors. |
Long-Term Debt and Other Liabil
Long-Term Debt and Other Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-Term Debt and Other Liabilities | 6. Long-Term Debt and Other Liabilities Long-term debt as of December 31, 2016 and December 31, 2015 was as follows ( in thousands December 31, December 31, Senior Secured Notes $ 525,000 $ — Convertible Notes 292,024 274,528 Amended and Restated Senior Term Facility — 301,503 Total debt 817,024 576,031 Less current portion of long-term debt — (18,835 ) Less deferred financing costs (16,309 ) (14,623 ) Total long-term debt $ 800,715 $ 542,573 Senior Secured Notes “Co-Issuer” On January 3, 2017, the Issuers issued $65 million aggregate principal amount of additional Senior Secured Notes due 2022 (the “Additional Notes”). The Additional Notes were issued at a price equal to 108% of their face value resulting in gross proceeds of $70.2 million. The Additional Notes have the same terms as the original Senior Secured Notes (as noted below), except with respect to the issue date and issue price and are treated as a single series for all purposes under the Indenture and the security documents that govern the Additional Notes and the original Senior Secured Notes. Interest on the Senior Secured Notes will accrue at the rate of 12.500% per annum and will be payable semi-annually in arrears on July 1 and January 1, commencing on January 1, 2017 (other than the Additional Notes, for which interest payments commence on July 1, 2017). The Senior Secured Notes mature on July 1, 2022. We used a portion of the net proceeds from the issuance of the Senior Secured Notes to repay all indebtedness outstanding under the Amended and Restated Senior Term Facility (as defined below), which we prepaid at par plus 3.0% of the principal amount of the loans prepaid in June 2016 (see below for additional details). We intend to use the remaining net proceeds, including the net proceeds from the Additional Notes, for working capital and other general corporate purposes. We paid approximately $11.4 million of loan origination fees and financing costs related to the issuance of the Senior Secured Notes, which has been accounted for as deferred financing costs. The deferred financing costs on our consolidated balance sheet are being amortized over the contractual term of the Senior Secured Notes using the effective interest method. Total amortization expense was $1.0 million for the year ended December 31, 2016. As of December 31, 2016, the balance of unamortized deferred financing costs related to the Senior Secured Notes was $10.4 million and is included as a reduction to long-term debt in our consolidated balance sheet. See Note 7, “Interest Costs” for additional information. The Senior Secured Notes are the senior secured indebtedness of the Issuers and are: • effectively senior to all of the Issuers’ existing and future senior unsecured indebtedness and the Issuers’ indebtedness secured on a junior priority basis by the same collateral securing the Senior Secured Notes, if any, in each case to the extent of the value of the collateral securing the Senior Secured Notes; • effectively senior in right of payment to all of the Issuers’ future indebtedness that is subordinated in right of payment to the Senior Secured Notes; • effectively equal in right of payment with the Issuers’ existing and future (i) unsecured indebtedness that is not subordinated in right of payment to the Senior Secured Notes and (ii) indebtedness secured on a junior priority basis by the same collateral securing the Senior Secured Notes, if any, in each case to the extent of any insufficiency in the collateral securing the Senior Secured Notes; • structurally senior to all of our existing and future indebtedness, including our Convertible Notes (as defined below); and • structurally subordinated to all of the indebtedness and other liabilities of any non-Guarantors The Senior Secured Notes are guaranteed, on a senior secured basis, by us and all of GIH’s existing and future domestic restricted subsidiaries (other than the Co-Issuer), • effectively senior to all of such Guarantor’s existing and future senior unsecured indebtedness and such Guarantor’s indebtedness secured on a junior priority basis by the same collateral, if any, securing the guarantee of such Guarantor, in each case to the extent of the value of the collateral securing such guarantee; • effectively senior in right of payment to all of such Guarantor’s future indebtedness that is subordinated in right of payment to such Guarantor’s guarantee; • effectively equal in right of payment with all of such Guarantor’s existing and future (i) unsecured indebtedness that is not subordinated in right of payment to such Guarantor’s guarantee, and (ii) indebtedness secured on a junior priority basis by the same collateral, if any, securing the guarantee of such Guarantor, in each case to the extent of any insufficiency in the collateral securing such guarantee; and • structurally subordinated to all indebtedness and other liabilities of any non-Guarantor The Senior Secured Notes and the related guarantees are secured by first-priority liens, subject to permitted liens, on substantially all of the Issuers’ and the Guarantors’ assets, except for certain excluded assets, including pledged equity interests of the Issuers and all of our existing and future domestic restricted subsidiaries guaranteeing the Senior Secured Notes. The security interests in certain collateral may be released without the consent of holders of the Senior Secured Notes if such collateral is disposed of in a transaction that complies with the Indenture and related security agreements. In addition, under certain circumstances, we and the Guarantors have the right to transfer certain intellectual property assets that on the Issue Date constitute collateral securing the Senior Secured Notes or the guarantees to a restricted subsidiary organized under the laws of Switzerland, resulting in the release of such collateral without consent of the holders of the Senior Secured Notes. On or after July 1, 2019, the Issuers may, at their option, at any time or from time to time, redeem any of the Senior Secured Notes in whole or in part. The Senior Secured Notes will be redeemable at the following redemption prices (expressed in percentages of principal amount), plus accrued and unpaid interest, if any, to (but not including) the redemption date (subject to the right of holders of record on the relevant regular record date that are on or prior to the redemption date to receive interest due on an interest payment date), if redeemed during the twelve-month period commencing on July 1 of the following years: Year Redemption 2019 106.250 % 2020 103.125 % 2021 and thereafter 100.000 % In addition, at any time prior to July 1, 2019, the Issuers may redeem up to 35% of the aggregate principal amount of the Senior Secured Notes with the proceeds of certain equity offerings at a redemption price of 112.500% of their principal amount, plus accrued and unpaid interest, if any, to (but not including) the date of redemption;provided, however , The Issuers may redeem the Senior Secured Notes, in whole or in part, at any time prior to July 1, 2019, at a redemption price equal to 100% of the principal amount of the Senior Secured Notes redeemed plus the make-whole premium set forth in the Indenture as of, and accrued and unpaid interest, if any, to (but not including) the applicable redemption date. The Indenture contains covenants that, among other things, limit the ability of the Issuers and the Subsidiary Guarantors and, in certain circumstances, our ability, to: incur additional indebtedness; pay dividends, redeem stock or make other distributions; make investments; create restrictions on the ability of our restricted subsidiaries to pay dividends to the Issuers or make other intercompany transfers; create liens; transfer or sell assets; merge or consolidate; and enter into certain transactions with the Issuers’ affiliates, including us. Most of these covenants will cease to apply if, and for as long as, the Senior Secured Notes have investment grade ratings from both Moody’s Investment Services, Inc. and Standard & Poor’s. If we or the Issuers undergo specific types of change of control prior to July 1, 2022, GIH is required to make an offer to repurchase for cash all of the Senior Secured Notes at a repurchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the payment date. The Indenture provides for events of default, which, if any of them occur, would permit or require the principal, premium, if any, and interest on all the then outstanding Senior Secured Notes issued under the Indenture to be due and payable immediately. As of December 31, 2016, no event of default had occurred. Convertible Notes The $361.9 million of proceeds received from the issuance of the Convertible Notes was initially allocated between long-term debt (the liability component) at $261.9 million, and additional paid-in-capital non-cash As of December 31, 2016 and 2015, the outstanding principal on the Convertible Notes was $361.9 million, the unamortized debt discount was $69.9 million and $87.4 million, respectively, and the net carrying amount of the liability component was $292.0 million and $274.5 million, respectively. We incurred approximately $10.4 million of issuance costs related to the issuance of the Convertible Notes of which $7.5 million and $2.9 million were recorded to deferred financing costs and additional paid-in The Convertible Notes had an initial conversion rate of 41.9274 common shares per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $23.85 per share of our common stock. Upon conversion, we currently expect to deliver cash up to the principal amount of the Convertible Notes then outstanding. With respect to any conversion value in excess of the principal amount, we currently expect to deliver shares of our common stock. We may elect to deliver cash in lieu of all or a portion of such shares. The shares of common stock subject to conversion are excluded from diluted earnings per share calculations under the if-converted Holders may convert the Convertible Notes, at their option, in multiples of $1,000 principal amount at any time prior to December 1, 2019, but only in the following circumstances: • during any fiscal quarter beginning after the fiscal quarter ended June 30, 2015, if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the Convertible Notes on each applicable trading day; • during the five business day period following any five consecutive trading day period in which the trading price for the Convertible Notes is less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the Convertible Notes on each such trading day; or • upon the occurrence of specified corporate events. None of the above events allowing for conversion prior to December 1, 2019 occurred during the year ended December 31, 2016. Regardless of whether any of the foregoing circumstances occurs, a holder may convert its Convertible Notes, in multiples of $1,000 principal amount, at any time on or after December 1, 2019 until maturity. In addition, if we undergo a fundamental change (as defined in the indenture governing the Convertible Notes), holders may, subject to certain conditions, require us to repurchase their Convertible Notes for cash at a price equal to 100% of the principal amount of the Convertible Notes to be purchased, plus any accrued and unpaid interest. In addition, if specific corporate events occur prior to the maturity date, we will increase the conversion rate for a holder who elects to convert its Convertible Notes in connection with such a corporate event in certain circumstances. In connection with the issuance of the Convertible Notes, we paid approximately $140 million to enter into prepaid forward stock repurchase transactions (the “Forward Transactions”) with certain financial institutions (the “Forward Counterparties”), pursuant to which we purchased approximately 7.2 million shares of common stock for settlement on or around the March 1, 2020 maturity date for the Convertible Notes, subject to the ability of each Forward Counterparty to elect to settle all or a portion of its Forward Transactions early. As a result of the Forward Transactions, total shareholders’ equity within our consolidated balance sheet was reduced by approximately $140 million. Approximately 7.2 million shares of common stock that will be effectively repurchased through the Forward Transactions are treated as retired shares for basic and diluted EPS purposes although they remain legally outstanding. Amended and Restated Senior Term Facility Prior to the Amendment, under the Amended Senior Term Facility we borrowed an aggregate principal amount of $248.0 million (the “Tranche B-1 B-2 B-1 The interest rates applicable to the Tranche B-1 B-2 B-1 B-2 The Tranche B-2 B-1 B-2 B-1 On June 14, 2016 the outstanding principal balance of $287.7 million, together with accrued and unpaid interest, was paid in full, and the Amended and Restated Senior Term Facility was terminated in accordance with its terms on such date (subject to the survival of provisions expressly stated therein to survive the termination thereof). Additionally, we paid the voluntary prepayment premium of 3.0% or $8.6 million and wrote off all of the remaining unamortized deferred financing costs of $6.8 million. Both of these items are included in loss on extinguishment of debt in our consolidated financial statements. As of December 31, 2015, $301.5 million was outstanding under the Amended and Restated Senior Term Facility. We paid $22.2 million of loan origination fees and financing costs related to the Amended and Restated Senior Term Facility, all but $4.1 million of which were accounted for as deferred financing costs. Total amortization expense of the deferred financing costs was $1.4 million, $3.1 million and $3.2 million, respectively, for the years ended December 31, 2016, 2015 and 2014. Amortization expense is included in interest expense in the consolidated statements of operations. As noted above, deferred financing costs related to the Amended and Restated Senior Term Facility were written off as of June 14, 2016. As of December 31, 2015, the balance of unamortized deferred financing costs related to the Amended and Restated Senior Term Facility was $8.2 million and was included as a reduction to long-term debt in our consolidated balance sheet. See Note 7, “Interest Costs” for additional information. Alaska Financing six-year Restricted Cash |
Interest Costs
Interest Costs | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Interest Costs | 7. Interest Costs We capitalize a portion of our interest on funds borrowed during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and amortized over the useful lives of the assets. The following is a summary of our interest costs for the years ended December 31, 2016, 2015 and 2014 (in thousands) For the Years Ended December 31, 2016 2015 2014 Interest costs charged to expense $ 62,348 $ 42,165 $ 28,477 Amortization of deferred financing costs 3,803 4,169 3,173 Accretion of Convertible Notes 17,496 12,555 — Non lender fees (1) — — 1,088 Interest expense 83,647 58,889 32,738 Interest costs capitalized to property and equipment 205 205 578 Interest costs capitalized to software 1,300 1,274 1,284 Total interest costs $ 85,152 $ 60,368 $ 34,600 (1) Primarily consists of fees paid to legal counsel and underwriters in connection with the amendments to the Amended and Restated Senior Term Facility. |
Common Stock and Preferred Stoc
Common Stock and Preferred Stock | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Common Stock and Preferred Stock | 8. Common Stock and Preferred Stock Common Stock Our Third Amended and Restated Certificate of Incorporation authorizes a total of 500,000,000 shares of common stock with a par value of $0.0001 per share. Our Third Amended and Restated Certificate of Incorporation authorizes 100,000,000 shares of new preferred stock with a par value of $0.01 per share. No shares of this new preferred stock have been issued. The preferred stock may be issued, from time to time, in one or more series as authorized by the Board of Directors, which has the authority to designate the terms of any series of preferred stock issued, including, without limitation, the number of shares to be included in such series of preferred stock, any dividend, redemption, conversion rights or voting powers and the designations, preferences and relative participating, optional or other special rights. |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Assets and Liabilities | 9. Fair Value of Financial Assets and Liabilities A three-tier fair value hierarchy has been established which prioritizes the inputs used in measuring fair value. These tiers include: • Level 1 • Level 2 • Level 3 Long-Term Debt: Our financial assets and liabilities that are disclosed but not measured at fair value include the Senior Secured Notes, the Convertible Notes and the Amended and Restated Senior Term Facility (when outstanding), which are reflected on the consolidated balance sheet at cost. The fair value measurements are classified as Level 2 within the fair value hierarchy since they are based on quoted market prices of our instruments in markets that are not active. We estimated the fair value of the Senior Secured Notes, Convertible Notes and Amended and Restated Senior Term Facility (when outstanding) by calculating the upfront cash payment a market participant would require to assume these obligations. The upfront cash payments used in the calculations of fair value on our December 31, 2016 consolidated balance sheet, excluding any issuance costs, is the amount that a market participant would be able to lend at December 31, 2016 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under the Senior Secured Notes and the Convertible Notes. The calculated fair value of our Convertible Notes is highly correlated to our stock price and as a result significant changes to our stock price could have a significant impact on the calculated fair value of our Convertible Notes. The fair value and carrying value of long-term debt as of December 31, 2016 and 2015 was as follows (in thousands) December 31, 2016 December 31, 2015 Fair Value (1) Carrying (2) Fair Value (1) Carrying (2) Senior Secured Notes $ 572,000 $ 525,000 $ — $ — Convertible Notes 275,000 292,024 352,000 274,528 Amended and Restated Senior Term Facility — — 299,000 301,503 (1) Fair value amounts are rounded to the nearest million. (2) Carrying value of the Convertible Notes excludes unamortized debt discount of $69.9 million and $87.4 million, respectively, as of December 31, 2016 and 2015. See Note 6, “Long-Term Debt and Other Liabilities,” for further information. We have held-to-maturity |
Business Segments and Major Cus
Business Segments and Major Customers | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Business Segments and Major Customers | 10. Business Segments and Major Customers We operate our business through three operating segments: Commercial Aviation North America, or “CA-NA”, “CA-ROW” CA-NA CA-NA in-flight CA-ROW CA-ROW in-flight CA-ROW BA Segment in-flight in-flight in-flight The accounting policies of the operating segments are the same as those described in Note 2, “Summary of Significant Accounting Policies”. Intercompany transactions between segments are excluded as they are not included in management’s performance review of the segments. We currently do not generate a material amount of foreign revenue. We do not segregate assets between segments for internal reporting. Therefore, asset-related information has not been presented. We do not disclose assets outside of the United States as we do not believe these assets are material as of December 31, 2016 and 2015. For our airborne assets, we consider only those assets installed in aircraft associated with international commercial airline partners to be owned outside of the United States. Management evaluates performance and allocates resources to each segment based on segment profit (loss), which is calculated internally as net income (loss) attributable to common stock before interest expense, interest income, income taxes, depreciation and amortization, and certain non-cash 280-10, Segment Reporting Information regarding our reportable segments is as follows ( in thousands For the Year Ended December 31, 2016 CA-NA CA-ROW BA Total Service revenue $ 357,250 $ 24,198 $ 132,845 $ 514,293 Equipment revenue 14,273 1,180 66,804 82,257 Total revenue $ 371,523 $ 25,378 $ 199,649 $ 596,550 Segment profit (loss) $ 71,870 $ (87,637 ) $ 82,874 $ 67,107 For the Year Ended December 31, 2015 CA-NA CA-ROW BA Total Service revenue $ 308,360 $ 11,563 $ 100,052 $ 419,975 Equipment revenue 2,302 1 78,610 80,913 Total revenue $ 310,662 $ 11,564 $ 178,662 $ 500,888 Segment profit (loss) $ 41,891 $ (76,445 ) $ 71,884 $ 37,330 For the Year Ended December 31, 2014 CA-NA CA-ROW BA Total Service revenue $ 248,625 $ 2,129 $ 71,993 $ 322,747 Equipment revenue 2,128 13 83,603 85,744 Total revenue $ 250,753 $ 2,142 $ 155,596 $ 408,491 Segment profit (loss) $ 25,953 $ (78,126 ) $ 63,002 $ 10,829 A reconciliation of segment profit (loss) to the relevant consolidated amounts is as follows ( in thousands For the Years Ended December 31, 2016 2015 2014 CA-NA $ 71,870 $ 41,891 $ 25,953 CA-ROW (87,637 ) (76,445 ) (78,126 ) BA segment profit 82,874 71,884 63,002 Total segment profit 67,107 37,330 10,829 Interest income 1,635 181 61 Interest expense (83,647 ) (58,889 ) (32,738 ) Depreciation and amortization (105,642 ) (87,036 ) (64,451 ) Amortization of deferred airborne lease incentives (1) 29,519 20,163 12,769 Stock compensation expense (17,621 ) (15,299 ) (9,816 ) Adjustment of deferred financing fees 792 (2,251 ) — Loss on extinguishment of debt (15,406 ) — — Other income (expense) 72 (574 ) (9 ) Loss before income taxes $ (123,191 ) $ (106,375 ) $ (83,355 ) (1) Amortization of deferred airborne lease incentive only relates to our CA-NA CA-ROW Major Customers and Airline Partnerships— Revenue earned through Delta Air Lines and American Airlines (including the former US Airways) accounted for approximately 50%, 50% and 48%, respectively, of consolidated revenue for the years ended December 31, 2016, 2015 and 2014. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 11. Stock-Based Compensation As of December 31, 2016, we maintained three stock-based employee compensation plans: the Gogo Inc. 2016 Omnibus Incentive Plan (the “2016 Omnibus Plan”), the Gogo Inc. 2013 Omnibus Incentive Plan (the “2013 Omnibus Plan”), and The Aircell Holdings Inc. Stock Option Plan (the “2010 Plan”), collectively referred to as the “Stock Plans”. Our Stock Plans provide for the grant of both equity and cash awards, including non-qualified Under the Stock Plans, 20,006,570 shares of common stock were reserved for issuance. As of December 31, 2016, 5,885,574 shares remained available for grant under our Stock Plans. The contractual life of granted options is 10 years. All options that are unvested as of the date on which a recipient’s employment terminates, as well as vested options that are not exercised within a prescribed period following termination, are forfeited and become available for future grants. Options granted to date include options that a) vest 20% upon grant with the remainder vesting in equal annual increments over a four-year period, b) vest over a four-year period with 25% vesting at the end of each year or c) vest on the date of grant for options granted to directors. Beginning in 2013 we granted RSUs that vest in equal annual increments over a four-year period. Vested RSUs will be settled, at the discretion of the Compensation Committee, in shares of our common stock or in cash equal to the value of the applicable number of shares of our common stock on the vesting date. We also granted directors DSUs that were vested at grant. DSUs will be settled in shares of our common stock 90 days after the director ceases to serve as a director. Beginning in 2014 we granted restricted stock, which vests in equal annual increments over a four-year period. These shares are deemed issued as of the date of grant, but not outstanding until they vest. We intend to settle RSU, DSU and restricted stock awards in stock and have the shares available to do so. In June 2016, the Compensation Committee approved grants of both non-market non-market non-market The following is a summary of our stock-based compensation expense included in the consolidated statements of operations for the years December 31, 2016, 2015 and 2014 (in thousands) 2016 2015 2014 Cost of service revenue $ 1,499 $ 1,161 $ 673 Cost of equipment revenue 117 86 31 Engineering, design and development 3,046 2,584 1,669 Sales and marketing 4,962 4,107 1,618 General and administrative 7,997 7,361 5,825 Total stock-based compensation expense $ 17,621 $ 15,299 $ 9,816 A summary of stock option activity for the year ended December 31, 2016, is as follows: Number of Weighted Weighted Aggregate (in thousands) Options outstanding—January 1, 2016 7,236,539 $ 16.23 7.07 $ 17,210 Granted 2,138,435 $ 8.67 Exercised (12,150 ) $ 9.08 Forfeited (157,853 ) $ 14.48 Expired (70,529 ) $ 16.89 Options outstanding—December 31, 2016 9,134,442 $ 14.50 6.81 $ 1,789 Options exercisable—December 31, 2016 5,237,705 $ 14.76 5.46 $ 312 There were no stock options exercised prior to 2013. As of December 31, 2016, total unrecognized compensation costs related to unvested stock options were approximately $17 million which is expected to be recognized over a weighted average period of approximately 2.6 years. The total grant date fair value of stock options vested in 2016, 2015 and 2014 was approximately $9.0 million, $8.0 million and $6.0 million, respectively. We estimate the fair value of stock options using the Black-Scholes option-pricing model. Weighted average assumptions used and weighted average grant date fair value of stock options granted for the years ended December 31, 2016, 2015, and 2014, were as follows: 2016 2015 2014 Approximate risk-free interest rate 1.3 % 1.8 % 1.9 % Average expected life (years) 6.12 6.17 6.20 Dividend yield N/A N/A N/A Volatility 45.3 % 33.1 % 43.5 % Weighted average grant date fair value of common stock underlying options granted $ 8.72 $ 20.65 $ 17.67 Weighted average grant date fair value of stock options granted $ 3.88 $ 7.39 $ 7.88 The risk-free interest rate assumptions were based on the U.S. Treasury yield curve for the term that mirrored the expected term in effect at the time of grant. The expected life of our stock options was determined based upon a simplified assumption that the stock options will be exercised evenly from vesting to expiration, as we do not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected life. The dividend yield was based on expected dividends at the time of grant. We have not been a public company long enough to calculate volatility based exclusively on our own common stock. Therefore, the expected volatility is calculated as of each grant date based on a weighting of our own common stock and reported data for a peer group of publicly traded companies for which historical information is available. The following table summarizes the activities for our unvested RSUs and DSUs for the year ended December 31, 2016: Number of Weighted Unvested—January 1, 2016 974,989 $ 19.55 Granted 1,007,567 $ 8.07 Vested (351,239 ) $ 17.26 Forfeited/canceled (134,269 ) $ 14.77 Unvested—December 31, 2016 1,497,048 $ 12.81 As of December 31, 2016, there was approximately $16 million of unrecognized compensation cost related to unvested employee RSUs. This amount is expected to be recognized over a weighted-average period of approximately 2.7 years. The total grant date fair value of RSUs and DSUs vested in 2016 was approximately $6 million. The following table summarizes the activity for our restricted stock for the year ended December 31, 2016: Number of Weighted Unvested—January 1, 2016 213,585 $ 19.00 Granted 127,200 $ 8.89 Vested (64,113 ) $ 18.78 Forfeited/canceled (42,700 ) $ 15.19 Unvested—December 31, 2016 233,972 $ 14.26 As of December 31, 2016, there was approximately $2.5 million of unrecognized compensation cost related to unvested employee restricted stock. This amount is expected to be recognized over a weighted-average period of approximately 2.3 years. ESPP— pre-specified |
Employee Retirement and Postret
Employee Retirement and Postretirement Benefits | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Employee Retirement and Postretirement Benefits | 12. Employee Retirement and Postretirement Benefits 401(k) Plan tax-deferred |
Income Tax
Income Tax | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax | 13. Income Tax For financial reporting purposes, loss before income taxes included the following components for the years ended December 31, 2016, 2015, and 2014 ( in thousands For the Years Ended December 31, 2016 2015 2014 United States $ (108,363 ) $ (97,398 ) $ (78,075 ) Foreign (14,828 ) (8,977 ) (5,280 ) Loss before income taxes $ (123,191 ) $ (106,375 ) $ (83,355 ) Significant components of the provision for income taxes for the years ended December 31, 2016, 2015, and 2014, are as follows ( in thousands For the Years Ended December 31, 2016 2015 2014 Current: Federal $ — $ — $ — State 451 396 355 Foreign 24 15 — 475 411 355 Deferred: Federal 764 764 764 State 75 63 64 839 827 828 Total $ 1,314 $ 1,238 $ 1,183 The provision for income taxes differs from income taxes computed at the federal statutory tax rates for the years ended December 31, 2016, 2015, and 2014 as a result of the following items: For the Years Ended December 31, 2016 2015 2014 Federal statutory rate 35.0 % 35.0 % 35.0 % Effect of: Change in valuation allowance (38.5 ) (37.1 ) (37.9 ) State income taxes-net 3.8 2.4 2.3 Other (1.4 ) (1.5 ) (0.8 ) Effective tax rate (1.1 )% (1.2 )% (1.4 )% Components of the net deferred income tax asset as of December 31, 2016 and 2015 are as follows ( in thousands December 31, December 31, Deferred income tax assets: Compensation accruals $ 5,944 $ 6,891 Stock options 15,480 11,260 Inventory 390 330 Warranty reserves 990 695 Deferred rent 14,976 14,808 Deferred revenue 65,391 49,867 Federal net operating loss (NOL) 125,257 111,893 State NOL 10,660 9,031 UNICAP adjustment 6,742 3,792 Finite-lived intangible assets 15,225 16,498 Other 3,924 2,444 Total deferred income tax assets 264,979 227,509 Deferred income tax liabilities: Fixed assets (41,331 ) (45,150 ) Indefinite-lived intangible assets (8,264 ) (7,425 ) Convertible Notes discount (26,134 ) (32,187 ) Other (264 ) (226 ) Total deferred income tax liabilities (75,993 ) (84,988 ) Total deferred income tax 188,986 142,521 Valuation allowance (197,250 ) (149,946 ) Net deferred income tax liability $ (8,264 ) $ (7,425 ) We assess the realizability of the deferred tax assets by considering whether it is more likely than not that some portion or all of the deferred tax assets would not be realized through the generation of future taxable income. We generated net losses in fiscal years 2016, 2015, and 2014, which means we are in a domestic three-year cumulative loss position. As a result of this and other assessments in fiscal 2016, we concluded that a full valuation allowance is required for all deferred tax assets and liabilities except for deferred tax liabilities associated with indefinite-lived intangible assets. As of December 31, 2016, the federal net operating loss (“NOL”) carryforward amount was approximately $347 million and the state NOL carryforward amount was approximately $228 million. The federal NOLs begin to expire in 2031. The state NOLs expire in various tax years and began to expire in 2016. Utilization of our NOL and tax credit carryforwards may be subject to substantial annual limitations due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such annual limitations could result in the expiration of the NOL and tax credit carryforwards before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change of greater than 50% over a three-year period. We are subject to taxation in the United States, various states, Canada, Switzerland, Japan, Mexico, Brazil, Singapore, the United Kingdom, Hong Kong and Australia. With few exceptions, as of December 31, 2016, we are no longer subject to U.S. federal, state, local or foreign examinations by tax authorities for years before 2013. As of December 31, 2016, 2015 and 2014, we did not have any unrecognized tax benefits. We record penalties and interest relating to uncertain tax positions in the income tax provision line item in the consolidated statement of operations. No penalties or interest related to uncertain tax positions were recorded for the years ended December 31, 2016, 2015 or 2014. As of December 31, 2016 and 2015, we did not have a liability recorded for interest or potential penalties. We do not expect there will be a change in the unrecognized tax benefits within the next 12 months. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Leases | 14. Leases Arrangements with Commercial Airlines non-current non-current The revenue share paid to our airline partners represent operating lease payments and are deemed to be contingent rental payments, as the payments due to each airline are based on a percentage of our CA-NA CA-ROW One contract with one of our airline partners requires us to provide our airline partner with cash rebates of $1.8 million in June 2017 and June 2018. Leases and Cell Site Contracts— Annual future minimum obligations for operating leases for each of the next five years and thereafter, other than the arrangements we have with our commercial airline partners, as of December 31 2016, are as follows ( in thousands Years ending December 31, Operating 2017 $ 19,903 2018 $ 17,234 2019 $ 16,130 2020 $ 14,273 2021 $ 14,005 Thereafter $ 94,605 Equipment Leases in thousands Years ending December 31, Capital 2017 $ 3,274 2018 1,561 2019 458 2020 — Thereafter — Total minimum lease payments 5,293 Less: Amount representing interest (500 ) Present value of net minimum lease payments $ 4,793 The $4.8 million present value of net minimum lease payments as of December 31, 2016 has a current portion of $2.8 million included in current portion of long-term debt and capital leases and a non-current non-current |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 15. Commitments and Contingencies Contractual Commitments We have agreements with various vendors under which we have remaining commitments to purchase satellite-based systems, certifications and development services. Such commitments will become payable as we receive the equipment or certifications, or as development services are provided. Damages and Penalties— Indemnifications and Guarantees In the ordinary course of business we may occasionally enter into agreements pursuant to which we may be obligated to pay for the failure of performance of others, such as the use of corporate credit cards issued to employees. Based on historical experience, we believe that the risk of sustaining any material loss related to such guarantees is remote. We have entered into a number of agreements, including our agreements with commercial airlines, pursuant to which we indemnify the other party for losses and expenses suffered or incurred in connection with any patent, copyright, or trademark infringement or misappropriation claim asserted by a third party with respect to our equipment or services. The maximum potential amount of future payments we could be required to make under these indemnification agreements is uncertain and is typically not limited by the terms of the agreements. Salameno Litigation— |
Canadian ATG Spectrum License
Canadian ATG Spectrum License | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Canadian ATG Spectrum License | 16. Canadian ATG Spectrum License On July 17, 2012, Industry Canada issued to our Canadian subsidiary a subordinate license that allows us to use the Canadian ATG spectrum of which SkySurf Canada Communications Inc. (“SkySurf”) is the primary licensee. On July 24, 2012 we entered into a subordinate license agreement (the “License Agreement”) with SkySurf and on August 14, 2012 the agreement commenced. The License Agreement provides for our exclusive rights to use SkySurf’s ATG spectrum licenses in Canada. The License Agreement has an initial term of ten years commencing on August 14, 2012 and, provided that the primary spectrum license agreement issued by Industry Canada to SkySurf remains in effect, is renewable at our option for an additional ten-year one-time (“one-time build-out ten-year ten-year As the License Agreement is for our exclusive use of a license, which is considered a right to use an intangible asset and thus not property, plant, or equipment, the agreement is not considered a lease for accounting purposes. As such, we recorded the SkySurf one-time one-time non-current one-time 25-years, Amortization expense for the one-time (in thousands Years ending December 31, Canadian ATG 2017 $ 97 2018 $ 97 2019 $ 97 2020 $ 97 2021 $ 97 Thereafter $ 1,505 Amortization expense totaled $0.1 million for the years ended December 31, 2016, 2015 and 2014. The monthly payments are expensed as incurred and totaled approximately $1.2 million, $1.1 million and $1.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. |
Quarterly Data (Unaudited)
Quarterly Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Data (Unaudited) | 17. Quarterly Data (Unaudited) Summarized quarterly financial information is as follows for each quarterly period for the years ended December 31, 2016 and 2015 ( in thousands, except per share amounts For the Three Month Periods Ended Mar 31, June 30, Sep 30, Dec 31, Total revenue $ 141,746 $ 147,539 $ 147,267 $ 159,998 Operating loss (8,592 ) (7,096 ) (8,774 ) (2,175 ) Net loss (24,106 ) (40,194 ) (33,273 ) (26,932 ) Net loss to attributable to common stock (24,106 ) (40,194 ) (33,273 ) (26,932 ) Net loss attributable to common stock per share—basic and diluted $ (0.31 ) $ (0.51 ) $ (0.42 ) $ (0.34 ) Weighted average number of shares—basic and diluted 78,738 78,849 79,003 79,067 For the Three Month Periods Ended Mar 31, June 30, Sep 30, Dec 31, Total revenue $ 115,511 $ 121,191 $ 126,407 $ 137,779 Operating loss (9,790 ) (8,568 ) (11,563 ) (14,921 ) Net loss (20,092 ) (24,772 ) (28,870 ) (33,879 ) Net loss to attributable to common stock (20,092 ) (24,772 ) (28,870 ) (33,879 ) Net loss attributable to common stock per share—basic and diluted $ (0.24 ) $ (0.32 ) $ (0.37 ) $ (0.43 ) Weighted average number of shares—basic and diluted 83,126 78,478 78,633 78,678 |
Condensed Financial Information
Condensed Financial Information of Registrant | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Condensed Financial Information of Registrant | 18. Condensed Financial Information of Registrant The following presents the condensed financial information of our parent company on a standalone basis. Gogo Inc. Condensed Balance Sheets (in thousands) December 31, December 31, Assets: Cash and cash equivalents $ 1,071 $ 71,889 Short-term investments 213,905 179,593 Prepaid expenses and other current assets 567 — Investments and advances with subsidiaries 44,288 95,076 Total assets $ 259,831 $ 346,558 Liabilities and Stockholders’ equity: Total current liabilities $ 4,996 $ 4,862 Long-term debt 286,964 268,076 Other non-current 8,264 7,425 Total liabilities 300,224 280,363 Total stockholders’ equity (deficit) (40,393 ) 66,195 Total liabilities and stockholders’ equity $ 259,831 $ 346,558 Gogo Inc. Condensed Statements of Operations and Comprehensive Loss (in thousands) For the Years Ended December 31, 2016 2015 2014 Interest income $ (978 ) $ (158 ) $ (46 ) Interest expense 32,461 24,609 — Total other (income) expense 31,483 24,451 (46 ) Income (loss) before income taxes (31,483 ) (24,451 ) 46 Income tax provision 1,276 1,238 1,183 Equity losses of subsidiaries 91,746 81,924 83,401 Net loss (124,505 ) (107,613 ) (84,538 ) Comprehensive loss $ (124,480 ) $ (108,601 ) $ (85,313 ) Gogo Inc. Condensed Statements of Cash Flows (in thousands) For the Years Ended December 31, 2016 2015 2014 Net loss $ (124,505 ) $ (107,613 ) $ (84,538 ) Accretion of debt discount 17,496 12,555 — Amortization of deferred financing costs 1,392 1,044 — Subsidiary equity losses 91,746 81,924 83,401 Other operating activities 520 5,371 925 Net cash used in operating activities (13,351 ) (6,719 ) (212 ) Acquisition of short-term investments (213,905 ) (329,503 ) (79,941 ) Redemption of short-term investments 179,593 189,868 39,983 Investments and advances with subsidiaries (23,312 ) (71,964 ) (62,832 ) Purchases of restricted cash (114 ) — — Net cash used in investing activities (57,738 ) (211,599 ) (102,790 ) Financing activities: Proceeds from issuance of convertible notes — 361,940 — Forward transactions — (140,000 ) — Other financing activities 271 (5,724 ) 3,065 Net cash provided by financing activities 271 216,216 3,065 Decrease in cash and cash equivalents (70,818 ) (2,102 ) (99,937 ) Cash and cash equivalents at the beginning of period 71,889 73,991 173,928 Cash and cash equivalents at the end of period $ 1,071 $ 71,889 $ 73,991 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | 19. Subsequent Events On January 3, 2017, the Issuers issued $65 million aggregate principal amount of additional Senior Secured Notes due 2022 (the “Additional Notes”). The Additional Notes were issued at a price equal to 108% of their face value resulting in gross proceeds of $70.2 million. We intend to use the net proceeds from the issuance of the Additional Notes for working capital and other general corporate purposes. The Additional Notes have the same terms as the original Senior Secured Notes, except with respect to the issue date and issue price and are treated as a single series for all purposes under the Indenture and the security documents that govern the Additional Notes and the original Senior Secured Notes. We paid approximately $2.0 million of loan origination fees and financing costs related to the issuance of the Additional Notes, which has been accounted for as deferred financing costs. The deferred financing costs will be amortized over the contractual term of the Senior Secured Notes using the effective interest method. On February 24, 2017, Gogo LLC, an indirect wholly-owned subsidiary of Gogo Inc., entered into a Unified In-Flight Connectivity Hardware, Services and Maintenance Agreement with American Airlines, which replaces and supersedes the Third Amended and Restated In Flight Connectivity Services Agreement between American Airlines and Gogo LLC, the In Flight Connectivity Services Agreement between American Airlines and Gogo LLC, the Amended and Restated In Flight Connectivity Services Agreement between US Airways and Gogo LLC and the Letter Agreement between Gogo LLC and American Airlines. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation — We were the managing member of ACM, an affiliate whose units were owned by members of management. ACM was established for the sole purpose of providing an ownership stake in us to members of management, and ACM’s transactions effectively represent a stock-based compensation plan (see Note 11, “Stock-Based Compensation Expense,” for further information). Since we were the managing member of ACM and thereby controlled ACM, including controlling which members of management were granted ownership interests, ACM was included in our consolidated financial statements prior to its dissolution in 2014. |
Use of Estimates | Use of Estimates |
Revisions | Revisions Our short-term investments are comprised of investments in U.S. Treasury bills with remaining maturities at the date of purchase of more than three months but less than twelve months. We have the intent and ability to hold our short-term investments to maturity at the time of purchase and we reevaluate such determination each reporting period. Therefore, we classify our short-term investments as held-to-maturity. We assessed the materiality of these classification changes, taking into account quantitative and qualitative factors, and determined them to be immaterial to the consolidated balance sheet as of December 31, 2015 and to the consolidated statement of cash flows for the years ended December 31, 2015 and 2014. There is no impact to the consolidated statements of operations for any period reported. While these immaterial classification changes could have been reflected prospectively, we elected to revise the previously reported consolidated balance sheet and consolidated statement of cash flows in order to provide greater comparability for the periods presented. Therefore, we have revised the previously reported cash and cash equivalents to reflect the classification of our investments in U.S. Treasury bills as short-term investments on the balance sheet as of December 31, 2015. Additionally, we have revised previously reported net cash used in investing activities in the consolidated statement of cash flows for the years ended December 31, 2015 and 2014 to include changes in our short-term investments. Below are the line items from our consolidated balance sheet as of December 31, 2015 illustrating the effect of these immaterial revisions ( in thousands As of December 31, 2015 As Reported Revisions As Revised Current assets: Cash and cash equivalents $ 366,833 $ (219,491 ) $ 147,342 Short-term investments — 219,491 219,491 Total cash, cash equivalents and short-term investments 366,833 — 366,833 Accounts receivable, net of allowances 69,317 — 69,317 Inventories 20,937 — 20,937 Prepaid expenses and other current assets 10,920 — 10,920 Total current assets $ 468,007 $ — $ 468,007 Below are the line items from our consolidated statement of cash flows for the years ended December 31, 2015 and 2014 illustrating the effect of these immaterial revisions ( in thousands Year Ended December 31, 2015 Year Ended December 31, 2014 As Revision As Revised As Revision As Revised Net cash provided by operating activities $ 104,856 $ — $ 104,856 $ 28,972 $ — $ 28,972 Investing activities: Proceeds from the sale of property and equipment 75 — 75 32 — 32 Purchases of property and equipment (135,201 ) — (135,201 ) (132,098 ) — (132,098 ) Acquisition of intangible assets—capitalized software (17,947 ) — (17,947 ) (17,465 ) — (17,465 ) Acquisition of short-term investments — (369,402 ) (369,402 ) — (119,924 ) (119,924 ) Redemption of short-term investments — 229,852 229,852 — 39,983 39,983 Increase in restricted cash (192 ) — (192 ) (2,500 ) — (2,500 ) Net cash used in investing activities (153,265 ) (139,550 ) (292,815 ) (152,031 ) (79,941 ) (231,972 ) Net cash provided by financing activities 203,221 — 203,221 67,995 — 67,995 Effect of exchange rate changes on cash 785 — 785 (42 ) — (42 ) Increase (decrease) in cash and cash equivalents 155,597 (139,550 ) 16,047 (55,106 ) (79,941 ) (135,047 ) Cash and cash equivalents at beginning of period 211,236 (79,941 ) 131,295 266,342 — 266,342 Cash and cash equivalents at end of period $ 366,833 $ (219,491 ) $ 147,342 $ 211,236 $ (79,941 ) $ 131,295 |
Significant Risks and Uncertainties | Significant Risks and Uncertainties |
Cash, Cash Equivalents and Short-Term Investments | Cash, Cash Equivalents and Short-Term Investments— We consider short-term investments to be investments with maturities of twelve months or less (but greater than three months). Currently all our short-term investments are comprised of U.S. Treasury bills, which we intend to hold to maturity. Certain cash amounts are restricted as to use and are classified outside of cash and cash equivalents. See Note 6, “Long-term Debt and Other Liabilities,” for further details. |
Concentrations of Credit Risk | Concentrations of Credit Risk— See Note 10, “Business Segments and Major Customers,” for further details. |
Income Tax | Income Tax— See Note 13, “Income Tax,” for further details. |
Inventories | Inventories— See Note 4, “Composition of Certain Balance Sheet Accounts,” for further details. |
Property and Equipment and Depreciation | Property and Equipment and Depreciation— Office equipment, furniture, fixtures and other 3-7 years Leasehold improvements 3-13 years Airborne equipment 7 years Network equipment 5-25 See Note 4, “Composition of Certain Balance Sheet Accounts,” for further details. Improvements to leased property are amortized over the shorter of the useful life of the improvement or the term of the related lease. Repairs and maintenance costs are expensed as incurred. Due to advances in technology and changes in agreements with our airline partners, with respect to upgrading equipment, we periodically reassess the useful lives of our property and equipment. Such reassessment has resulted in the useful life of specific assets being adjusted to a shorter period than originally estimated, resulting in an increase in annual depreciation expense for those assets. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets— Our quantitative impairment testing of the FCC Licenses uses the Greenfield method, an income-based approach. When performing this quantitative impairment testing, we estimate the fair value of the goodwill and FCC Licenses asset balances based primarily on projected future operating results, discounted cash flows, and other assumptions. Projected future operating results and cash flows used for valuation purposes may reflect considerable improvements relative to historical periods with respect to, among other things, revenue growth and operating margins. Although we believe our projected future operating results and cash flows and related estimates regarding fair values are based on reasonable assumptions, projected operating results and cash flows may not always be achieved. The failure to achieve one or more of our assumptions regarding projected operating results and cash flows in the near term or long term could reduce the estimated fair value below carrying value and result in the recognition of an impairment charge. The results of our annual goodwill and indefinite-lived intangible asset impairment assessments for 2016, 2015 and 2014 indicated no impairment. Intangible assets that are deemed to have a finite life are amortized over their useful lives as follows: Software 3-8 years OEM and dealer relationships 10 years Service customer relationships 5-7 years Other intangible assets 4-12 years See Note 5, “Intangible Assets,” for further details. |
Long-Lived Assets | Long-Lived Assets— |
Arrangements with Commercial Airlines | Arrangements with Commercial Airlines— Additionally, equipment transactions under one form of agreement, which we have used on a limited basis but expect to use more in the future, qualify for sale treatment due to the specific provisions of the agreement. In the majority of our agreements with commercial airlines, we are required to pay the airline a percentage of the service revenues generated from transactions with the airline’s passengers. Such payments are essentially contingent rental payments and are recorded at the same time as the related passenger service revenue and classified as cost of service revenue in the consolidated statements of operations. Certain airlines are also entitled under their contracts to reimbursement by us for certain costs, which are deemed additional rental payments and classified as cost of service revenue in our consolidated statements of operations. See Note 14, “Leases,” for further details. |
Revenue Recognition | Revenue Recognition— CA-NA CA-ROW point-of-sale CA-NA’s CA-NA CA-ROW CA-NA CA-ROW e-commerce e-commerce CA-NA CA-ROW fixed-fee per-MB We recognize revenue for equipment sales when the following conditions have been satisfied: the equipment has been shipped to the customer, title and risk of loss and control have transferred to the customer, we have no future obligations for installation or maintenance service, the price is fixed or determinable, collectability is reasonably assured and, for the CA-NA CA-ROW We have multi-element arrangements that include equipment, connectivity services, installation and various in-flight CA-NA Service revenue for BA generally consists of monthly recurring and usage fees, which are recognized monthly as the services are provided and billed to customers. Additionally, CA-NA CA-ROW |
Research and Development Costs | Research and Development Costs— |
Software Development Costs | Software Development Costs— non-network With respect to software sold as part of our equipment sales, we capitalize software development costs once technological feasibility has been established. Capitalized software costs are amortized on a product-by-product |
Warranty | Warranty— |
Asset Retirement Obligations | Asset Retirement Obligations— See Note 4, “Composition of Certain Balance Sheet Accounts,” for the details of the changes in our asset retirement obligations. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments— See Note 9, “Fair Value of Financial Assets and Liabilities,” for further information. |
Derivatives | Derivatives— Derivatives and Hedging See Note 6, “Long-Term Debt and Other Liabilities,” Note 8, “Common Stock and Preferred Stock,” and Note 9, “Fair Value of Financial Assets and Liabilities,” for further information. |
Convertible Notes | Convertible Notes— paid-in See Note 6, “Long-Term Debt and Other Liabilities,” for further information. |
Net Loss Per Share | Net Loss Per Share— See Note 3, “Net Loss Per Share,” for further information. |
Stock-Based Compensation Expense | Stock-Based Compensation Expense— 2016-09, Improvements to Employee Share-Based Payment Accounting 2016-09”), See Note 11, “Stock-Based Compensation,” for further discussion. |
Leases | Leases— For leases that contain predetermined fixed escalations of the minimum rent, we recognize the related rent expense on a straight-line basis over the term of the lease. We record any difference between the straight-line rent amounts and amounts payable under the lease as deferred rent, in either accrued liabilities or as a separate line within noncurrent liabilities, as appropriate, in our consolidated balance sheets. For leases that qualify as a capital lease, we record a capital lease asset and a capital lease obligation at the beginning of the lease term at an amount equal to the present value of minimum lease payments during the term of the lease, excluding that portion of the payments that represent executory costs. The capital lease asset is depreciated on a straight-line method over the shorter of its estimated useful life or lease term. See Note 14, “Leases,” for further information. |
Advertising Costs | Advertising Costs— |
Debt Issuance Costs | Debt Issuance Costs— See Note 6, “Long-Term Debt and Other Liabilities” for further information. |
Comprehensive Loss | Comprehensive Loss— |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue From Contracts With Customers 2014-09”). 2014-09 up-front In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern 2014-15”). In March 2016, the FASB issued ASU 2016-02, Leases 2016-02”), 2016-02 Revenue from Contracts with Customers 2016-02 2016-02 In March 2016, the FASB issued ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products 2016-04”), 2016-04 2016-04 In March 2016, the FASB issued ASU 2016-09, 2016-09 In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments 2016-15”), Statement of Cash Flows 2016-15. In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory 2016-16”), Income Taxes 2016-16 In November 2016, the FASB issued ASU 2016-18, Restricted Cash—A Consensus of the FASB Emerging Issues Task Force 2016-18”), Statement of Cash Flows 2016-18 |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Statement of Balance Sheet Illustrating effect of Immaterial Revisions | Below are the line items from our consolidated balance sheet as of December 31, 2015 illustrating the effect of these immaterial revisions ( in thousands As of December 31, 2015 As Reported Revisions As Revised Current assets: Cash and cash equivalents $ 366,833 $ (219,491 ) $ 147,342 Short-term investments — 219,491 219,491 Total cash, cash equivalents and short-term investments 366,833 — 366,833 Accounts receivable, net of allowances 69,317 — 69,317 Inventories 20,937 — 20,937 Prepaid expenses and other current assets 10,920 — 10,920 Total current assets $ 468,007 $ — $ 468,007 |
Statement of Cash Flows Illustrating effect of Immaterial Revisions | Below are the line items from our consolidated statement of cash flows for the years ended December 31, 2015 and 2014 illustrating the effect of these immaterial revisions ( in thousands Year Ended December 31, 2015 Year Ended December 31, 2014 As Revision As Revised As Revision As Revised Net cash provided by operating activities $ 104,856 $ — $ 104,856 $ 28,972 $ — $ 28,972 Investing activities: Proceeds from the sale of property and equipment 75 — 75 32 — 32 Purchases of property and equipment (135,201 ) — (135,201 ) (132,098 ) — (132,098 ) Acquisition of intangible assets—capitalized software (17,947 ) — (17,947 ) (17,465 ) — (17,465 ) Acquisition of short-term investments — (369,402 ) (369,402 ) — (119,924 ) (119,924 ) Redemption of short-term investments — 229,852 229,852 — 39,983 39,983 Increase in restricted cash (192 ) — (192 ) (2,500 ) — (2,500 ) Net cash used in investing activities (153,265 ) (139,550 ) (292,815 ) (152,031 ) (79,941 ) (231,972 ) Net cash provided by financing activities 203,221 — 203,221 67,995 — 67,995 Effect of exchange rate changes on cash 785 — 785 (42 ) — (42 ) Increase (decrease) in cash and cash equivalents 155,597 (139,550 ) 16,047 (55,106 ) (79,941 ) (135,047 ) Cash and cash equivalents at beginning of period 211,236 (79,941 ) 131,295 266,342 — 266,342 Cash and cash equivalents at end of period $ 366,833 $ (219,491 ) $ 147,342 $ 211,236 $ (79,941 ) $ 131,295 |
Depreciation of Property and Equipment Estimated Useful Lives | Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives for owned assets, which are as follows: Office equipment, furniture, fixtures and other 3-7 years Leasehold improvements 3-13 years Airborne equipment 7 years Network equipment 5-25 |
Finite Lived Intangible Asset Useful Life | Intangible assets that are deemed to have a finite life are amortized over their useful lives as follows: Software 3-8 years OEM and dealer relationships 10 years Service customer relationships 5-7 years Other intangible assets 4-12 years |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014; however, because of the undistributed losses, the shares associated with the Forward Transactions are excluded from the computation of basic earnings per share as undistributed losses are not allocated to these shares ( in thousands, except per share amounts For the Years Ended December 31, 2016 2015 2014 Net loss $ (124,505 ) $ (107,613 ) $ (84,538 ) Less: Participation rights of the Forward Transactions — — — Undistributed losses $ (124,505 ) $ (107,613 ) $ (84,538 ) Weighted-average common shares outstanding-basic and diluted 78,915 79,701 85,147 Net loss attributable to common stock per share-basic and diluted $ (1.58 ) $ (1.35 ) $ (0.99 ) |
Composition of Certain Balanc30
Composition of Certain Balance Sheet Accounts (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Components of Inventories Included within BA Segment | Inventories as of December 31, 2016 and 2015, all of which were included within the BA segment, were as follows ( in thousands December 31, 2016 2015 Work-in-process $ 39,150 $ 13,866 Finished goods 11,116 7,071 Total inventory $ 50,266 $ 20,937 |
Property and Equipment | Property and equipment as of December 31, 2016 and 2015 were as follows ( in thousands December 31, 2016 2015 Office equipment, furniture, fixtures and other $ 49,529 $ 43,447 Leasehold improvements 42,143 42,318 Airborne equipment 557,196 414,381 Network equipment 168,121 156,890 816,989 657,036 Accumulated depreciation (297,179 ) (222,546 ) Property and equipment, net $ 519,810 $ 434,490 |
Accrued Liabilities | Accrued liabilities as of December 31, 2016 and 2015 consist of the following ( in thousands December 31, 2016 2015 Employee compensation and benefits $ 21,008 $ 23,668 Airborne equipment and installation costs 22,442 17,503 Airborne partner related accrued liabilities 14,307 11,387 Accrued interest 40,436 4,611 Other 33,862 31,521 Total accrued liabilities $ 132,055 $ 88,690 |
Other Non-Current Liabilities | Other non-current in thousands December 31, 2016 2015 Deferred rent $ 36,538 $ 36,656 Deferred revenue 38,976 20,758 Asset retirement obligations 8,527 7,847 Other 6,627 3,589 Total other non-current $ 90,668 $ 68,850 |
Schedule of Changes in Warranty Reserves | Changes in our warranty reserve for the years ended December 31, 2016, 2015 and 2014 consist of the following ( in thousands Warranty Reserve Balance—January 1, 2014 $ 880 Accruals for warranties issued 519 Settlements of warranties (314 ) Balance—December 31, 2014 1,085 Accruals for warranties issued 1,882 Settlements of warranties (1,133 ) Balance—December 31, 2015 1,834 Accruals for warranties issued 1,535 Settlements of warranties (793 ) Balance—December 31, 2016 $ 2,576 |
Schedule of Changes in Non Current Asset Retirement Obligation | Changes in our non-current in thousands Asset Balance—January 1, 2015 $ 6,153 Liabilities incurred (1) 1,181 Liabilities settled (156 ) Accretion expense 712 Foreign exchange rate adjustments (43 ) Balance—December 31, 2015 7,847 Liabilities incurred (2) 11 Liabilities settled (174 ) Accretion expense 835 Foreign exchange rate adjustments 8 Balance—December 31, 2016 $ 8,527 (1) Includes $0.3 million related to a change in estimate in the expected cash flows for our estimated liabilities. (2) Includes $0.5 million related to a change in estimate in the expected cash flows for our estimated liabilities. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets, Other than Goodwill | Our intangible assets, other than goodwill, as of December 31, 2016 and 2015 were as follows ( in thousands, except for weighted average remaining useful life Weighted Remaining As of December 31, 2016 As of December 31, 2015 Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Software 2.4 $ 118,836 $ (70,127 ) $ 48,709 $ 90,925 $ (50,760 ) $ 40,165 OEM and dealer relationships 6,724 (6,667 ) 57 6,724 (5,995 ) 729 Service customer relationships 3.3 8,081 (4,773 ) 3,308 8,081 (3,757 ) 4,324 Other intangible assets 1.9 1,500 (682 ) 818 1,500 (178 ) 1,322 Total amortized intangible assets 135,141 (82,249 ) 52,892 107,230 (60,690 ) 46,540 Unamortized intangible assets: FCC Licenses 32,283 — 32,283 32,283 — 32,283 Total intangible assets $ 167,424 $ (82,249 ) $ 85,175 $ 139,513 $ (60,690 ) $ 78,823 |
Summary of Amortization Expenses | Amortization expense for each of the next five years and thereafter is estimated to be as follows ( in thousands Years ending December 31, Amortization 2017 $ 21,830 2018 $ 15,467 2019 $ 9,070 2020 $ 2,049 2021 $ 1,328 Thereafter $ 3,148 |
Long-Term Debt and Other Liab32
Long-Term Debt and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Long-Term Debt | Long-term debt as of December 31, 2016 and December 31, 2015 was as follows ( in thousands December 31, December 31, Senior Secured Notes $ 525,000 $ — Convertible Notes 292,024 274,528 Amended and Restated Senior Term Facility — 301,503 Total debt 817,024 576,031 Less current portion of long-term debt — (18,835 ) Less deferred financing costs (16,309 ) (14,623 ) Total long-term debt $ 800,715 $ 542,573 |
Summary of Redemption Prices Plus Accrued and Unpaid Interest | The Senior Secured Notes will be redeemable at the following redemption prices (expressed in percentages of principal amount), plus accrued and unpaid interest, if any, to (but not including) the redemption date (subject to the right of holders of record on the relevant regular record date that are on or prior to the redemption date to receive interest due on an interest payment date), if redeemed during the twelve-month period commencing on July 1 of the following years: Year Redemption 2019 106.250 % 2020 103.125 % 2021 and thereafter 100.000 % |
Interest Costs (Tables)
Interest Costs (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Interest Costs | The following is a summary of our interest costs for the years ended December 31, 2016, 2015 and 2014 (in thousands) For the Years Ended December 31, 2016 2015 2014 Interest costs charged to expense $ 62,348 $ 42,165 $ 28,477 Amortization of deferred financing costs 3,803 4,169 3,173 Accretion of Convertible Notes 17,496 12,555 — Non lender fees (1) — — 1,088 Interest expense 83,647 58,889 32,738 Interest costs capitalized to property and equipment 205 205 578 Interest costs capitalized to software 1,300 1,274 1,284 Total interest costs $ 85,152 $ 60,368 $ 34,600 (1) Primarily consists of fees paid to legal counsel and underwriters in connection with the amendments to the Amended and Restated Senior Term Facility. |
Fair Value of Financial Asset34
Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Summary of Fair Value and Carrying Value of Long-Term Debt | The fair value and carrying value of long-term debt as of December 31, 2016 and 2015 was as follows (in thousands) December 31, 2016 December 31, 2015 Fair Value (1) Carrying (2) Fair Value (1) Carrying (2) Senior Secured Notes $ 572,000 $ 525,000 $ — $ — Convertible Notes 275,000 292,024 352,000 274,528 Amended and Restated Senior Term Facility — — 299,000 301,503 (1) Fair value amounts are rounded to the nearest million. (2) Carrying value of the Convertible Notes excludes unamortized debt discount of $69.9 million and $87.4 million, respectively, as of December 31, 2016 and 2015. See Note 6, “Long-Term Debt and Other Liabilities,” for further information. |
Business Segments and Major C35
Business Segments and Major Customers (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Summary of Reportable Segments | Information regarding our reportable segments is as follows ( in thousands For the Year Ended December 31, 2016 CA-NA CA-ROW BA Total Service revenue $ 357,250 $ 24,198 $ 132,845 $ 514,293 Equipment revenue 14,273 1,180 66,804 82,257 Total revenue $ 371,523 $ 25,378 $ 199,649 $ 596,550 Segment profit (loss) $ 71,870 $ (87,637 ) $ 82,874 $ 67,107 For the Year Ended December 31, 2015 CA-NA CA-ROW BA Total Service revenue $ 308,360 $ 11,563 $ 100,052 $ 419,975 Equipment revenue 2,302 1 78,610 80,913 Total revenue $ 310,662 $ 11,564 $ 178,662 $ 500,888 Segment profit (loss) $ 41,891 $ (76,445 ) $ 71,884 $ 37,330 For the Year Ended December 31, 2014 CA-NA CA-ROW BA Total Service revenue $ 248,625 $ 2,129 $ 71,993 $ 322,747 Equipment revenue 2,128 13 83,603 85,744 Total revenue $ 250,753 $ 2,142 $ 155,596 $ 408,491 Segment profit (loss) $ 25,953 $ (78,126 ) $ 63,002 $ 10,829 |
Reconciliation of Segment Profit (loss) | A reconciliation of segment profit (loss) to the relevant consolidated amounts is as follows ( in thousands For the Years Ended December 31, 2016 2015 2014 CA-NA $ 71,870 $ 41,891 $ 25,953 CA-ROW (87,637 ) (76,445 ) (78,126 ) BA segment profit 82,874 71,884 63,002 Total segment profit 67,107 37,330 10,829 Interest income 1,635 181 61 Interest expense (83,647 ) (58,889 ) (32,738 ) Depreciation and amortization (105,642 ) (87,036 ) (64,451 ) Amortization of deferred airborne lease incentives (1) 29,519 20,163 12,769 Stock compensation expense (17,621 ) (15,299 ) (9,816 ) Adjustment of deferred financing fees 792 (2,251 ) — Loss on extinguishment of debt (15,406 ) — — Other income (expense) 72 (574 ) (9 ) Loss before income taxes $ (123,191 ) $ (106,375 ) $ (83,355 ) (1) Amortization of deferred airborne lease incentive only relates to our CA-NA CA-ROW |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Summary of Stock-Based Compensation Expense | The following is a summary of our stock-based compensation expense included in the consolidated statements of operations for the years December 31, 2016, 2015 and 2014 (in thousands) 2016 2015 2014 Cost of service revenue $ 1,499 $ 1,161 $ 673 Cost of equipment revenue 117 86 31 Engineering, design and development 3,046 2,584 1,669 Sales and marketing 4,962 4,107 1,618 General and administrative 7,997 7,361 5,825 Total stock-based compensation expense $ 17,621 $ 15,299 $ 9,816 |
Summary of Stock Options Activity | A summary of stock option activity for the year ended December 31, 2016, is as follows: Number of Weighted Weighted Aggregate (in thousands) Options outstanding—January 1, 2016 7,236,539 $ 16.23 7.07 $ 17,210 Granted 2,138,435 $ 8.67 Exercised (12,150 ) $ 9.08 Forfeited (157,853 ) $ 14.48 Expired (70,529 ) $ 16.89 Options outstanding—December 31, 2016 9,134,442 $ 14.50 6.81 $ 1,789 Options exercisable—December 31, 2016 5,237,705 $ 14.76 5.46 $ 312 |
Schedule of Weighted Average Assumptions Used and Weighted Average Grant Date Fair Value of Stock Options | We estimate the fair value of stock options using the Black-Scholes option-pricing model. Weighted average assumptions used and weighted average grant date fair value of stock options granted for the years ended December 31, 2016, 2015, and 2014, were as follows: 2016 2015 2014 Approximate risk-free interest rate 1.3 % 1.8 % 1.9 % Average expected life (years) 6.12 6.17 6.20 Dividend yield N/A N/A N/A Volatility 45.3 % 33.1 % 43.5 % Weighted average grant date fair value of common stock underlying options granted $ 8.72 $ 20.65 $ 17.67 Weighted average grant date fair value of stock options granted $ 3.88 $ 7.39 $ 7.88 |
Restricted Stock Units And Deferred Stock Units [Member] | |
Summarizes the Activities for Unvested RSUs and DSUs | The following table summarizes the activities for our unvested RSUs and DSUs for the year ended December 31, 2016: Number of Weighted Unvested—January 1, 2016 974,989 $ 19.55 Granted 1,007,567 $ 8.07 Vested (351,239 ) $ 17.26 Forfeited/canceled (134,269 ) $ 14.77 Unvested—December 31, 2016 1,497,048 $ 12.81 |
Restricted Stock [Member] | |
Summarizes the Activities for Unvested RSUs and DSUs | The following table summarizes the activity for our restricted stock for the year ended December 31, 2016: Number of Weighted Unvested—January 1, 2016 213,585 $ 19.00 Granted 127,200 $ 8.89 Vested (64,113 ) $ 18.78 Forfeited/canceled (42,700 ) $ 15.19 Unvested—December 31, 2016 233,972 $ 14.26 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Loss Before Income Taxes | For financial reporting purposes, loss before income taxes included the following components for the years ended December 31, 2016, 2015, and 2014 ( in thousands For the Years Ended December 31, 2016 2015 2014 United States $ (108,363 ) $ (97,398 ) $ (78,075 ) Foreign (14,828 ) (8,977 ) (5,280 ) Loss before income taxes $ (123,191 ) $ (106,375 ) $ (83,355 ) |
Components of Provision for Income Taxes | Significant components of the provision for income taxes for the years ended December 31, 2016, 2015, and 2014, are as follows ( in thousands For the Years Ended December 31, 2016 2015 2014 Current: Federal $ — $ — $ — State 451 396 355 Foreign 24 15 — 475 411 355 Deferred: Federal 764 764 764 State 75 63 64 839 827 828 Total $ 1,314 $ 1,238 $ 1,183 |
Income Tax Computed at Federal Statutory Tax Rates | The provision for income taxes differs from income taxes computed at the federal statutory tax rates for the years ended December 31, 2016, 2015, and 2014 as a result of the following items: For the Years Ended December 31, 2016 2015 2014 Federal statutory rate 35.0 % 35.0 % 35.0 % Effect of: Change in valuation allowance (38.5 ) (37.1 ) (37.9 ) State income taxes-net 3.8 2.4 2.3 Other (1.4 ) (1.5 ) (0.8 ) Effective tax rate (1.1 )% (1.2 )% (1.4 )% |
Components of Deferred Income Tax Assets and Liabilities | Components of the net deferred income tax asset as of December 31, 2016 and 2015 are as follows ( in thousands December 31, December 31, Deferred income tax assets: Compensation accruals $ 5,944 $ 6,891 Stock options 15,480 11,260 Inventory 390 330 Warranty reserves 990 695 Deferred rent 14,976 14,808 Deferred revenue 65,391 49,867 Federal net operating loss (NOL) 125,257 111,893 State NOL 10,660 9,031 UNICAP adjustment 6,742 3,792 Finite-lived intangible assets 15,225 16,498 Other 3,924 2,444 Total deferred income tax assets 264,979 227,509 Deferred income tax liabilities: Fixed assets (41,331 ) (45,150 ) Indefinite-lived intangible assets (8,264 ) (7,425 ) Convertible Notes discount (26,134 ) (32,187 ) Other (264 ) (226 ) Total deferred income tax liabilities (75,993 ) (84,988 ) Total deferred income tax 188,986 142,521 Valuation allowance (197,250 ) (149,946 ) Net deferred income tax liability $ (8,264 ) $ (7,425 ) |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Annual Future Minimum Obligations for Operating Leases Other than Arrangements with Commercial Airline Partners | Annual future minimum obligations for operating leases for each of the next five years and thereafter, other than the arrangements we have with our commercial airline partners, as of December 31 2016, are as follows ( in thousands Years ending December 31, Operating 2017 $ 19,903 2018 $ 17,234 2019 $ 16,130 2020 $ 14,273 2021 $ 14,005 Thereafter $ 94,605 |
Annual Future Minimum Obligations under Capital Leases | Annual future minimum obligations under capital leases for each of the next five years and thereafter, as of December 31, 2016, are as follows ( in thousands Years ending December 31, Capital 2017 $ 3,274 2018 1,561 2019 458 2020 — Thereafter — Total minimum lease payments 5,293 Less: Amount representing interest (500 ) Present value of net minimum lease payments $ 4,793 |
Canadian ATG Spectrum License (
Canadian ATG Spectrum License (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
License Agreement [Member] | |
Summary of Amortization Expense | Amortization expense for the one-time (in thousands Years ending December 31, Canadian ATG 2017 $ 97 2018 $ 97 2019 $ 97 2020 $ 97 2021 $ 97 Thereafter $ 1,505 |
Quarterly Data (Unaudited) (Tab
Quarterly Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summarized Quarterly Financial Information | Summarized quarterly financial information is as follows for each quarterly period for the years ended December 31, 2016 and 2015 ( in thousands, except per share amounts For the Three Month Periods Ended Mar 31, June 30, Sep 30, Dec 31, Total revenue $ 141,746 $ 147,539 $ 147,267 $ 159,998 Operating loss (8,592 ) (7,096 ) (8,774 ) (2,175 ) Net loss (24,106 ) (40,194 ) (33,273 ) (26,932 ) Net loss to attributable to common stock (24,106 ) (40,194 ) (33,273 ) (26,932 ) Net loss attributable to common stock per share—basic and diluted $ (0.31 ) $ (0.51 ) $ (0.42 ) $ (0.34 ) Weighted average number of shares—basic and diluted 78,738 78,849 79,003 79,067 For the Three Month Periods Ended Mar 31, June 30, Sep 30, Dec 31, Total revenue $ 115,511 $ 121,191 $ 126,407 $ 137,779 Operating loss (9,790 ) (8,568 ) (11,563 ) (14,921 ) Net loss (20,092 ) (24,772 ) (28,870 ) (33,879 ) Net loss to attributable to common stock (20,092 ) (24,772 ) (28,870 ) (33,879 ) Net loss attributable to common stock per share—basic and diluted $ (0.24 ) $ (0.32 ) $ (0.37 ) $ (0.43 ) Weighted average number of shares—basic and diluted 83,126 78,478 78,633 78,678 |
Condensed Financial Informati41
Condensed Financial Information of Registrant (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Condensed Balance Sheets | Gogo Inc. Condensed Balance Sheets (in thousands) December 31, December 31, Assets: Cash and cash equivalents $ 1,071 $ 71,889 Short-term investments 213,905 179,593 Prepaid expenses and other current assets 567 — Investments and advances with subsidiaries 44,288 95,076 Total assets $ 259,831 $ 346,558 Liabilities and Stockholders’ equity: Total current liabilities $ 4,996 $ 4,862 Long-term debt 286,964 268,076 Other non-current 8,264 7,425 Total liabilities 300,224 280,363 Total stockholders’ equity (deficit) (40,393 ) 66,195 Total liabilities and stockholders’ equity $ 259,831 $ 346,558 |
Condensed Statements of Operations and Comprehensive Loss | Gogo Inc. Condensed Statements of Operations and Comprehensive Loss (in thousands) For the Years Ended December 31, 2016 2015 2014 Interest income $ (978 ) $ (158 ) $ (46 ) Interest expense 32,461 24,609 — Total other (income) expense 31,483 24,451 (46 ) Income (loss) before income taxes (31,483 ) (24,451 ) 46 Income tax provision 1,276 1,238 1,183 Equity losses of subsidiaries 91,746 81,924 83,401 Net loss (124,505 ) (107,613 ) (84,538 ) Comprehensive loss $ (124,480 ) $ (108,601 ) $ (85,313 ) |
Condensed Statements of Cash Flows | Gogo Inc. Condensed Statements of Cash Flows (in thousands) For the Years Ended December 31, 2016 2015 2014 Net loss $ (124,505 ) $ (107,613 ) $ (84,538 ) Accretion of debt discount 17,496 12,555 — Amortization of deferred financing costs 1,392 1,044 — Subsidiary equity losses 91,746 81,924 83,401 Other operating activities 520 5,371 925 Net cash used in operating activities (13,351 ) (6,719 ) (212 ) Acquisition of short-term investments (213,905 ) (329,503 ) (79,941 ) Redemption of short-term investments 179,593 189,868 39,983 Investments and advances with subsidiaries (23,312 ) (71,964 ) (62,832 ) Purchases of restricted cash (114 ) — — Net cash used in investing activities (57,738 ) (211,599 ) (102,790 ) Financing activities: Proceeds from issuance of convertible notes — 361,940 — Forward transactions — (140,000 ) — Other financing activities 271 (5,724 ) 3,065 Net cash provided by financing activities 271 216,216 3,065 Decrease in cash and cash equivalents (70,818 ) (2,102 ) (99,937 ) Cash and cash equivalents at the beginning of period 71,889 73,991 173,928 Cash and cash equivalents at the end of period $ 1,071 $ 71,889 $ 73,991 |
Background - Additional Informa
Background - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016Segment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of operating segments | 3 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies - Statement of Balance Sheet Illustrating effect of Immaterial Revisions (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Current assets: | ||||
Cash and cash equivalents | $ 117,302 | $ 147,342 | $ 131,295 | $ 266,342 |
Short-term investments | 338,477 | 219,491 | ||
Total cash, cash equivalents and short-term investments | 455,779 | 366,833 | ||
Accounts receivable, net of allowances | 73,743 | 69,317 | ||
Inventories | 50,266 | 20,937 | ||
Prepaid expenses and other current assets | 24,942 | 10,920 | ||
Total current assets | $ 604,730 | 468,007 | ||
As Reported [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 366,833 | 211,236 | $ 266,342 | |
Total cash, cash equivalents and short-term investments | 366,833 | |||
Accounts receivable, net of allowances | 69,317 | |||
Inventories | 20,937 | |||
Prepaid expenses and other current assets | 10,920 | |||
Total current assets | 468,007 | |||
Revisions [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | (219,491) | $ (79,941) | ||
Short-term investments | $ 219,491 |
Summary of Significant Accoun44
Summary of Significant Accounting Policies - Statement of Cash Flows Illustrating effect of Immaterial Revisions (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||
Net cash provided by operating activities | $ 64,988 | $ 104,856 | $ 28,972 |
Investing activities: | |||
Proceeds from the sale of property and equipment | 84 | 75 | 32 |
Purchases of property and equipment | (148,294) | (135,201) | (132,098) |
Acquisition of intangible assets-capitalized software | (28,587) | (17,947) | (17,465) |
Acquisition of short-term investments | (363,436) | (369,402) | (119,924) |
Redemption of short-term investments | 244,450 | 229,852 | 39,983 |
Increase in restricted cash | 224 | (192) | (2,500) |
Net cash used in investing activities | (295,559) | (292,815) | (231,972) |
Net cash provided by financing activities | 201,053 | 203,221 | 67,995 |
Effect of exchange rate changes on cash | (522) | 785 | (42) |
Increase (decrease) in cash and cash equivalents | (30,040) | 16,047 | (135,047) |
Cash and cash equivalents at beginning of period | 147,342 | 131,295 | 266,342 |
Cash and cash equivalents at end of period | 117,302 | 147,342 | 131,295 |
As Reported [Member] | |||
Operating activities: | |||
Net cash provided by operating activities | 104,856 | 28,972 | |
Investing activities: | |||
Proceeds from the sale of property and equipment | 75 | 32 | |
Purchases of property and equipment | (135,201) | (132,098) | |
Acquisition of intangible assets-capitalized software | (17,947) | (17,465) | |
Increase in restricted cash | (192) | (2,500) | |
Net cash used in investing activities | (153,265) | (152,031) | |
Net cash provided by financing activities | 203,221 | 67,995 | |
Effect of exchange rate changes on cash | 785 | (42) | |
Increase (decrease) in cash and cash equivalents | 155,597 | (55,106) | |
Cash and cash equivalents at beginning of period | 366,833 | 211,236 | 266,342 |
Cash and cash equivalents at end of period | 366,833 | 211,236 | |
Revisions [Member] | |||
Investing activities: | |||
Acquisition of short-term investments | (369,402) | (119,924) | |
Redemption of short-term investments | 229,852 | 39,983 | |
Net cash used in investing activities | (139,550) | (79,941) | |
Increase (decrease) in cash and cash equivalents | (139,550) | (79,941) | |
Cash and cash equivalents at beginning of period | $ (219,491) | (79,941) | |
Cash and cash equivalents at end of period | $ (219,491) | $ (79,941) |
Summary of Significant Accoun45
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions | Mar. 03, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||||
Depreciation expense | $ 84,100,000 | $ 69,400,000 | $ 53,400,000 | ||
Impairment charges | 0 | 0 | 0 | ||
Impairments of long-lived assets | 0 | 0 | 0 | ||
Research and development expense | $ 45,900,000 | $ 50,100,000 | $ 40,100,000 | ||
Forward stock repurchase transaction, shares | 7.2 | 7.2 | |||
Forward stock repurchase transactions amount | $ 140,000,000 | $ 140,000,000 | |||
3.75% Convertible Senior Notes [Member] | |||||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||||
Forward stock repurchase transaction, shares | 7.2 | ||||
Forward stock repurchase transactions amount | $ 140,000,000 | ||||
Forward stock repurchase transaction, settlement date | Mar. 1, 2020 | ||||
Minimum [Member] | |||||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||||
Warranty term | 2 years | ||||
Maximum [Member] | |||||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||||
Warranty term | 5 years |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Depreciation of Property and Equipment Estimated Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Office Equipment, Furniture, Fixtures and Other [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 3 years |
Office Equipment, Furniture, Fixtures and Other [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 7 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 3 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 13 years |
Airborne Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 7 years |
Network Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 5 years |
Network Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of property and equipment estimated useful lives | 25 years |
Summary of Significant Accoun47
Summary of Significant Accounting Policies - Finite Lived Intangible Asset Useful Life (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Software [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 2 years 4 months 24 days |
Software [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 3 years |
Software [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 8 years |
OEM and Dealer Relationships [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 10 years |
Service Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 3 years 3 months 18 days |
Service Customer Relationships [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 5 years |
Service Customer Relationships [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 7 years |
Other Intangible Assets [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 1 year 10 months 24 days |
Other Intangible Assets [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 4 years |
Other Intangible Assets [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible asset useful life | 12 years |
Net Loss Per Share - Additional
Net Loss Per Share - Additional Information (Detail) - shares shares in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Forward stock repurchase transaction shares, excluded from dilution effect | 7.2 | 7.2 |
Net Loss Per Share - Computatio
Net Loss Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||
Net loss | $ (26,932) | $ (33,273) | $ (40,194) | $ (24,106) | $ (33,879) | $ (28,870) | $ (24,772) | $ (20,092) | $ (124,505) | $ (107,613) | $ (84,538) |
Less: Participation rights of the Forward Transactions | 0 | 0 | 0 | ||||||||
Net loss attributable to common stock | $ (26,932) | $ (33,273) | $ (40,194) | $ (24,106) | $ (33,879) | $ (28,870) | $ (24,772) | $ (20,092) | $ (124,505) | $ (107,613) | $ (84,538) |
Weighted-average common shares outstanding-basic and diluted | 79,067 | 79,003 | 78,849 | 78,738 | 78,678 | 78,633 | 78,478 | 83,126 | 78,915 | 79,701 | 85,147 |
Net loss attributable to common stock per share-basic and diluted | $ (0.34) | $ (0.42) | $ (0.51) | $ (0.31) | $ (0.43) | $ (0.37) | $ (0.32) | $ (0.24) | $ (1.58) | $ (1.35) | $ (0.99) |
Composition of Certain Balanc50
Composition of Certain Balance Sheet Accounts - Components of Inventories Included within BA Segment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Work-in-process component parts | $ 39,150 | $ 13,866 |
Finished goods | 11,116 | 7,071 |
Total inventory | $ 50,266 | $ 20,937 |
Composition of Certain Balanc51
Composition of Certain Balance Sheet Accounts - Property and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 816,989 | $ 657,036 |
Accumulated depreciation | (297,179) | (222,546) |
Property and equipment, net | 519,810 | 434,490 |
Office Equipment, Furniture, Fixtures and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 49,529 | 43,447 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 42,143 | 42,318 |
Airborne Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 557,196 | 414,381 |
Network Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 168,121 | $ 156,890 |
Composition of Certain Balanc52
Composition of Certain Balance Sheet Accounts - Accrued Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued Liabilities, Current [Abstract] | ||
Employee compensation and benefits | $ 21,008 | $ 23,668 |
Airborne equipment and installation costs | 22,442 | 17,503 |
Airborne partner related accrued liabilities | 14,307 | 11,387 |
Accrued interest | 40,436 | 4,611 |
Other | 33,862 | 31,521 |
Total accrued liabilities | $ 132,055 | $ 88,690 |
Composition of Certain Balanc53
Composition of Certain Balance Sheet Accounts - Other Non-Current Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Other Liabilities, Noncurrent [Abstract] | |||
Deferred rent | $ 36,538 | $ 36,656 | |
Deferred revenue | 38,976 | 20,758 | |
Asset retirement obligations | 8,527 | 7,847 | $ 6,153 |
Other | 6,627 | 3,589 | |
Total other non-current liabilities | $ 90,668 | $ 68,850 |
Composition of Certain Balanc54
Composition of Certain Balance Sheet Accounts - Schedule of Changes in Warranty Reserves (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Guarantees [Abstract] | |||
Warranty Beginning Balance | $ 1,834 | $ 1,085 | $ 880 |
Accruals for warranties issued | 1,535 | 1,882 | 519 |
Settlements of warranties | (793) | (1,133) | (314) |
Warranty Ending Balance | $ 2,576 | $ 1,834 | $ 1,085 |
Composition of Certain Balanc55
Composition of Certain Balance Sheet Accounts - Schedule of Changes in Non Current Asset Retirement Obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Asset Retirement Obligation Disclosure [Abstract] | |||
Asset retirement obligation, Beginning Balance | $ 7,847 | $ 6,153 | |
Liabilities incurred | 11 | 1,181 | $ 1,518 |
Liabilities settled | (174) | (156) | |
Accretion expense | 835 | 712 | |
Foreign exchange rate adjustments | 8 | (43) | |
Asset retirement obligation, Ending Balance | $ 8,527 | $ 7,847 | $ 6,153 |
Composition of Certain Balanc56
Composition of Certain Balance Sheet Accounts - Schedule of Changes in Non Current Asset Retirement Obligation (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Asset Retirement Obligation Disclosure [Abstract] | ||
Change in estimate in expected cash flows for liabilities | $ 0.5 | $ 0.3 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill | $ 620 | $ 620 | |
Amortization expense | $ 21,600 | $ 17,600 | $ 11,000 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets, Other than Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Intangible Assets Net Excluding Goodwill [Line Items] | ||
Total intangible assets, Gross Carrying Amount | $ 167,424 | $ 139,513 |
Amortized intangible assets, Gross Carrying Amount | 135,141 | 107,230 |
Amortized intangible assets, Accumulated Amortization | (82,249) | (60,690) |
Amortized intangible assets, Net Carrying Amount | 52,892 | 46,540 |
Total intangible assets, Net Carrying Amount | 85,175 | 78,823 |
FCC Licenses [Member] | ||
Intangible Assets Net Excluding Goodwill [Line Items] | ||
Total unamortized intangible assets, Gross Carrying Amount | 32,283 | 32,283 |
Total unamortized intangible assets, Net Carrying Amount | $ 32,283 | 32,283 |
Software [Member] | ||
Intangible Assets Net Excluding Goodwill [Line Items] | ||
Weighted Average Remaining Useful Life (in years) | 2 years 4 months 24 days | |
Amortized intangible assets, Gross Carrying Amount | $ 118,836 | 90,925 |
Amortized intangible assets, Accumulated Amortization | (70,127) | (50,760) |
Amortized intangible assets, Net Carrying Amount | 48,709 | 40,165 |
OEM and Dealer Relationships [Member] | ||
Intangible Assets Net Excluding Goodwill [Line Items] | ||
Amortized intangible assets, Gross Carrying Amount | 6,724 | 6,724 |
Amortized intangible assets, Accumulated Amortization | (6,667) | (5,995) |
Amortized intangible assets, Net Carrying Amount | $ 57 | 729 |
Service Customer Relationships [Member] | ||
Intangible Assets Net Excluding Goodwill [Line Items] | ||
Weighted Average Remaining Useful Life (in years) | 3 years 3 months 18 days | |
Amortized intangible assets, Gross Carrying Amount | $ 8,081 | 8,081 |
Amortized intangible assets, Accumulated Amortization | (4,773) | (3,757) |
Amortized intangible assets, Net Carrying Amount | $ 3,308 | 4,324 |
Other Intangible Assets [Member] | ||
Intangible Assets Net Excluding Goodwill [Line Items] | ||
Weighted Average Remaining Useful Life (in years) | 1 year 10 months 24 days | |
Amortized intangible assets, Gross Carrying Amount | $ 1,500 | 1,500 |
Amortized intangible assets, Accumulated Amortization | (682) | (178) |
Amortized intangible assets, Net Carrying Amount | $ 818 | $ 1,322 |
Intangible Assets - Summary of
Intangible Assets - Summary of Amortization Expenses (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,017 | $ 21,830 |
2,018 | 15,467 |
2,019 | 9,070 |
2,020 | 2,049 |
2,021 | 1,328 |
Thereafter | $ 3,148 |
Long-Term Debt and Other Liab60
Long-Term Debt and Other Liabilities - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 03, 2015 |
Debt Instrument [Line Items] | |||
Total debt | $ 817,024 | $ 576,031 | |
Less current portion of long-term debt | (18,835) | ||
Less deferred financing costs | (16,309) | (14,623) | |
Total long-term debt | 800,715 | 542,573 | |
Amended and Restated Senior Term Facility [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 301,503 | ||
3.75% Convertible Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Convertible Notes | 292,024 | $ 274,528 | $ 261,900 |
12.500% Senior Secured Notes Due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Senior Secured Notes | $ 525,000 |
Long-Term Debt and Other Liab61
Long-Term Debt and Other Liabilities - Additional Information (Detail) $ / shares in Units, shares in Millions | Jan. 03, 2017USD ($) | Jun. 14, 2016USD ($) | Mar. 03, 2015USD ($)$ / sharesshares | Nov. 02, 2010USD ($) | Mar. 31, 2015USD ($)shares | Dec. 31, 2016USD ($)Trading_dayshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | ||||||||
Proceeds from issuance of debt | $ 525,000,000 | |||||||
Amortization of deferred financing costs | 3,803,000 | $ 4,169,000 | $ 3,173,000 | |||||
Additional paid-in-capital | $ 879,135,000 | 861,243,000 | ||||||
Proceeds received from the issuance of the convertible notes | 361,940,000 | |||||||
Forward stock repurchase transactions amount | $ 140,000,000 | $ 140,000,000 | ||||||
Forward stock repurchase transaction, shares | shares | 7.2 | 7.2 | ||||||
Total debt | $ 817,024,000 | $ 576,031,000 | ||||||
Non lender fees | 1,088,000 | |||||||
Letters of Credit [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Restricted cash | 7,900,000 | 7,500,000 | ||||||
Convertible Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Forward stock repurchase transaction, shares | shares | 7.2 | |||||||
Forward stock repurchase transaction, settlement date | Mar. 1, 2020 | |||||||
12.500% Senior Secured Notes Due 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 525,000,000 | $ 525,000,000 | ||||||
Interest rate | 12.50% | |||||||
Interest rate payable term | Semi-annually | |||||||
Maturity date | Jul. 1, 2022 | |||||||
Voluntary prepayment premium paid percentage | 3.00% | |||||||
Loan origination fees | $ 11,400,000 | |||||||
Amortization of deferred financing costs | 1,000,000 | |||||||
Debt issuance costs | $ 10,400,000 | |||||||
12.500% Senior Secured Notes Due 2022 [Member] | Condition One [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instrument redemption price percentage of principal amount redeemed | 35.00% | |||||||
Debt instrument redemption price, percentage | 112.50% | |||||||
Outstanding redemption percentage | 65.00% | |||||||
12.500% Senior Secured Notes Due 2022 [Member] | Condition Two [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instrument redemption price, percentage | 100.00% | |||||||
12.500% Senior Secured Notes Due 2022 [Member] | Condition Three [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instrument redemption price, percentage | 101.00% | |||||||
Additional Senior Secured Notes Due 2022 [Member] | Subsequent Event [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 65,000,000 | |||||||
Issue price as percentage of face value | 108.00% | |||||||
Proceeds from issuance of debt | $ 70,200,000 | |||||||
Loan origination fees | $ 2,000,000 | |||||||
3.75% Convertible Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 361,900,000 | $ 361,900,000 | 361,900,000 | |||||
Interest rate | 3.75% | |||||||
Interest rate payable term | Semi-annually | |||||||
Maturity date | Mar. 1, 2020 | |||||||
Amortization of deferred financing costs | $ 1,400,000 | 1,000,000 | ||||||
Debt issuance costs | 5,100,000 | 6,500,000 | ||||||
Debt instrument redemption price, percentage | 100.00% | |||||||
Option granted to initial purchasers | $ 60,000,000 | |||||||
Additional paid-in-capital | 100,000,000 | |||||||
Convertible Notes, carrying amount of liability component | 261,900,000 | $ 292,024,000 | 274,528,000 | |||||
Effective interest rate on convertible notes | 11.50% | |||||||
Proceeds received from the issuance of the convertible notes | $ 361,900,000 | |||||||
Convertible Notes, unamortized discount | $ 69,900,000 | 87,400,000 | ||||||
Conversion rate | 41.9274 | |||||||
Principal amount | $ 1,000 | |||||||
Conversion price | $ / shares | $ 23.85 | |||||||
Multiples of principal amount | $ 1,000 | |||||||
Forward stock repurchase transactions amount | $ 140,000,000 | |||||||
Forward stock repurchase transaction, shares | shares | 7.2 | |||||||
Forward stock repurchase transaction, settlement date | Mar. 1, 2020 | |||||||
3.75% Convertible Senior Notes [Member] | Minimum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of common share price over conversion price for conversion | 130.00% | |||||||
Common stock price trading days | Trading_day | 20 | |||||||
Common stock price consecutive trading days | 30 days | |||||||
3.75% Convertible Senior Notes [Member] | Maximum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instrument redemption price, percentage | 98.00% | |||||||
Common stock price trading days | Trading_day | 5 | |||||||
Common stock price consecutive trading days | 5 days | |||||||
3.75% Convertible Senior Notes [Member] | Issuance Costs [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Loan origination fees | 10,400,000 | |||||||
Additional paid-in-capital | 2,900,000 | |||||||
Issuance cost recorded to deferred financing costs | 7,500,000 | |||||||
3.75% Convertible Senior Notes [Member] | Institutional Buyers [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | 340,000,000 | |||||||
Principal amount of Convertible Notes, subsequently exercised | $ 21,900,000 | |||||||
Amended and Restated Senior Term Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Voluntary prepayment premium paid percentage | 3.00% | |||||||
Loan origination fees | $ 22,200,000 | |||||||
Amortization of deferred financing costs | 1,400,000 | 3,100,000 | $ 3,200,000 | |||||
Debt issuance costs | 8,200,000 | |||||||
Outstanding principal balance paid | $ 287,700,000 | |||||||
Voluntary prepayment premium paid | 8,600,000 | |||||||
Write off of deferred financing costs | $ 6,800,000 | |||||||
Total debt | $ 301,503,000 | |||||||
Non lender fees | $ 4,100,000 | |||||||
Amended and Restated Senior Term Facility [Member] | Tranche B-1 Loans [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 11.25% | |||||||
Amount of credit facility agreement | $ 248,000,000 | |||||||
Base rate floor | 2.50% | |||||||
Amended and Restated Senior Term Facility [Member] | Tranche B-1 Loans [Member] | Interest Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Libor rate loan margin | 9.75% | |||||||
Base rate loan margin | 8.75% | |||||||
Amended and Restated Senior Term Facility [Member] | Tranche B-1 Loans [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Statutory rate floor | 1.50% | |||||||
Amended and Restated Senior Term Facility [Member] | Tranche B-2 Loans [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 7.50% | |||||||
Amount of credit facility agreement | $ 75,000,000 | |||||||
Base rate floor | 2.00% | |||||||
Amended and Restated Senior Term Facility [Member] | Tranche B-2 Loans [Member] | Interest Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Libor rate loan margin | 6.50% | |||||||
Base rate loan margin | 5.50% | |||||||
Amended and Restated Senior Term Facility [Member] | Tranche B-2 Loans [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Statutory rate floor | 1.00% | |||||||
Alaska Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 10.00% | |||||||
Amount of credit facility agreement | $ 4,100,000 | |||||||
Credit facility, termination date | 2015-04 | |||||||
Payment period for principal amounts outstanding | 6 years |
Long-Term Debt and Other Liab62
Long-Term Debt and Other Liabilities - Summary of Redemption Prices Plus Accrued and Unpaid Interest (Detail) - 12.500% Senior Secured Notes Due 2022 [Member] | 12 Months Ended |
Dec. 31, 2016 | |
2019 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Debt instrument redemption price, percentage | 106.25% |
2020 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Debt instrument redemption price, percentage | 103.125% |
2021 and Thereafter [Member] | |
Debt Instrument, Redemption [Line Items] | |
Debt instrument redemption price, percentage | 100.00% |
Interest Costs - Summary of Int
Interest Costs - Summary of Interest Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule Of Interest [Line Items] | |||
Interest costs charged to expense | $ 62,348 | $ 42,165 | $ 28,477 |
Amortization of deferred financing costs | 3,803 | 4,169 | 3,173 |
Accretion of Convertible Notes | 17,496 | 12,555 | |
Non lender fees | 1,088 | ||
Interest expense | 83,647 | 58,889 | 32,738 |
Total interest costs | 85,152 | 60,368 | 34,600 |
Property and Equipment [Member] | |||
Schedule Of Interest [Line Items] | |||
Interest costs capitalized | 205 | 205 | 578 |
Software [Member] | |||
Schedule Of Interest [Line Items] | |||
Interest costs capitalized | $ 1,300 | $ 1,274 | $ 1,284 |
Common Stock and Preferred St64
Common Stock and Preferred Stock - Additional Information (Detail) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Equity [Abstract] | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Preferred stock share authorized | 100,000,000 | |
Preferred stock, par value | $ 0.01 | |
Preferred stock share issued | 0 |
Fair Value of Financial Asset65
Fair Value of Financial Assets and Liabilities - Summary of Fair Value and Carrying Value of Long-Term Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Value of Long Term Debt | $ 817,024 | $ 576,031 |
Convertible Notes [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Convertible Notes | 275,000 | 352,000 |
Carrying Value of Convertible Notes | 292,024 | 274,528 |
Senior Secured Notes [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Long Term Debt | 572,000 | |
Carrying Value of Long Term Debt | $ 525,000 | |
Amended and Restated Senior Term Facility [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Long Term Debt | 299,000 | |
Carrying Value of Long Term Debt | $ 301,503 |
Fair Value of Financial Asset66
Fair Value of Financial Assets and Liabilities - Summary of Fair Value and Carrying Value of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
3.75% Convertible Senior Notes [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Convertible Notes, unamortized discount | $ 69.9 | $ 87.4 |
Fair Value of Financial Asset67
Fair Value of Financial Assets and Liabilities - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | |||
Assets fair value adjustments | $ 0 | $ 0 | $ 0 |
Business Segments and Major C68
Business Segments and Major Customers - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016CustomerPartnerSegment | Dec. 31, 2015CustomerPartner | Dec. 31, 2014Customer | |
Segment Reporting Information [Line Items] | |||
Number of operating segments | Segment | 3 | ||
Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of customers meeting concentration risk threshold | Customer | 0 | 0 | 0 |
Revenue [Member] | Customer Concentration Risk [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage of benchmark | 10.00% | 10.00% | 10.00% |
Revenue [Member] | Customer Concentration Risk [Member] | Delta Airline and American Airlines [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage of benchmark | 50.00% | 50.00% | 48.00% |
Accounts Receivable [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of airline partners meeting concentration risk threshold | Partner | 1 | 1 | |
Accounts Receivable [Member] | Credit Concentration Risk [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage of benchmark | 18.00% | 33.00% |
Business Segments and Major C69
Business Segments and Major Customers - Summary of Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Service revenue | $ 514,293 | $ 419,975 | $ 322,747 | ||||||||
Equipment revenue | 82,257 | 80,913 | 85,744 | ||||||||
Total revenue | $ 159,998 | $ 147,267 | $ 147,539 | $ 141,746 | $ 137,779 | $ 126,407 | $ 121,191 | $ 115,511 | 596,550 | 500,888 | 408,491 |
Segment profit (loss) | 67,107 | 37,330 | 10,829 | ||||||||
CA-NA [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service revenue | 357,250 | 308,360 | 248,625 | ||||||||
Equipment revenue | 14,273 | 2,302 | 2,128 | ||||||||
Total revenue | 371,523 | 310,662 | 250,753 | ||||||||
Segment profit (loss) | 71,870 | 41,891 | 25,953 | ||||||||
CA-ROW [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service revenue | 24,198 | 11,563 | 2,129 | ||||||||
Equipment revenue | 1,180 | 1 | 13 | ||||||||
Total revenue | 25,378 | 11,564 | 2,142 | ||||||||
Segment profit (loss) | (87,637) | (76,445) | (78,126) | ||||||||
BA [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service revenue | 132,845 | 100,052 | 71,993 | ||||||||
Equipment revenue | 66,804 | 78,610 | 83,603 | ||||||||
Total revenue | 199,649 | 178,662 | 155,596 | ||||||||
Segment profit (loss) | $ 82,874 | $ 71,884 | $ 63,002 |
Business Segments and Major C70
Business Segments and Major Customers - Reconciliation of Segment Profit (loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Segment profit (loss) | $ 67,107 | $ 37,330 | $ 10,829 |
Interest income | 1,635 | 181 | 61 |
Interest expense | (83,647) | (58,889) | (32,738) |
Depreciation and amortization | (105,642) | (87,036) | (64,451) |
Amortization of deferred airborne lease incentives | 29,519 | 20,163 | 12,769 |
Stock compensation expense | (17,621) | (15,299) | (9,816) |
Adjustment of deferred financing fees | 792 | (2,251) | |
Loss on extinguishment of debt | (15,406) | ||
Other income (expense) | 72 | (574) | (9) |
Loss before income taxes | (123,191) | (106,375) | (83,355) |
CA-NA [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Segment profit (loss) | 71,870 | 41,891 | 25,953 |
CA-ROW [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Segment profit (loss) | (87,637) | (76,445) | (78,126) |
BA [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Segment profit (loss) | $ 82,874 | $ 71,884 | $ 63,002 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016USD ($)CompensationPlanshares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013shares | |
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Number of share-based employee compensation plans | CompensationPlan | 3 | |||
Stock options [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Stock options exercised | 12,150 | |||
Restricted Stock Units And Deferred Stock Units [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
DSU settlement period | 90 days | |||
Total unrecognized compensation costs related to unvested stock options | $ | $ 16 | |||
Weighted average period related to unvested stock options | 2 years 8 months 12 days | |||
Total grant date fair value of stock options vested | $ | $ 6 | |||
Restricted Stock [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Options vesting period | 4 years | |||
Total unrecognized compensation costs related to unvested stock options | $ | $ 2.5 | |||
Weighted average period related to unvested stock options | 2 years 3 months 18 days | |||
Stock Plan 2010, 2013 and 2016 [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Common stock, shares reserved for issuance | 20,006,570 | |||
Shares available for grant | 5,885,574 | |||
Contractual life of granted options | 10 years | |||
Options vesting period | 4 years | |||
Stock options exercised | 0 | |||
Stock Plan 2010, 2013 and 2016 [Member] | Stock options [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Total unrecognized compensation costs related to unvested stock options | $ | $ 17 | |||
Weighted average period related to unvested stock options | 2 years 7 months 6 days | |||
Total grant date fair value of stock options vested | $ | $ 9 | $ 8 | $ 6 | |
Stock Plan 2010, 2013 and 2016 [Member] | Option 2 [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Options vesting percentage | 25.00% | |||
Options vesting period | 4 years | |||
Stock Plan 2010, 2013 and 2016 [Member] | Option 1 [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Options vesting percentage | 20.00% | |||
Stock Plan 2010, 2013 and 2016 [Member] | Director [Member] | Restricted Stock Units And Deferred Stock Units [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
2013 Omnibus Plan settlement, Description | DSUs will be settled in shares of our common stock 90 days after the director ceases to serve as a director. | |||
Employee Stock Purchase Plan [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Common stock, shares reserved for issuance | 424,594 | |||
Common stock, shares issued under ESPP | 143,085 | |||
Employee Stock Purchase Plan [Member] | Maximum [Member] | ||||
Schedule Of Share Based Compensation Arrangement [Line Items] | ||||
Purchase Price of Common Stock, Percent | 15.00% |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | $ 17,621 | $ 15,299 | $ 9,816 |
Cost of Service Revenue [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 1,499 | 1,161 | 673 |
Cost of Equipment Revenue [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 117 | 86 | 31 |
Engineering, Design and Development [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 3,046 | 2,584 | 1,669 |
Sales and Marketing [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 4,962 | 4,107 | 1,618 |
General and Administrative [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | $ 7,997 | $ 7,361 | $ 5,825 |
Stock-Based Compensation - Su73
Stock-Based Compensation - Summary of Stock Options Activity (Detail) - Stock options [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule Of Stock Option Activity [Line Items] | ||
Options Outstanding, Beginning Balance | 7,236,539 | |
Number of Options, Granted | 2,138,435 | |
Number of Options, Exercised | (12,150) | |
Number of Options, Forfeited | (157,853) | |
Number of Options, Expired | (70,529) | |
Options Outstanding, Ending Balance | 9,134,442 | 7,236,539 |
Options Exercisable, Ending Balance | 5,237,705 | |
Weighted Average Exercise Price Per Share, Outstanding Beginning Balance | $ 16.23 | |
Weighted Average Exercise Price Per Share, Granted | 8.67 | |
Weighted Average Exercise Price Per Share, Exercised | 9.08 | |
Weighted Average Exercise Price Per Share, Forfeited | 14.48 | |
Weighted Average Exercise Price Per Share, Expired | 16.89 | |
Weighted Average Exercise Price Per Share, Outstanding Ending Balance | 14.50 | $ 16.23 |
Weighted Average Exercise Price Per Share, Exercisable Ending Balance | $ 14.76 | |
Weighted Average Remaining Contractual Life, Outstanding | 6 years 9 months 22 days | 7 years 26 days |
Weighted Average Remaining Contractual Life, Exercisable Ending Balance | 5 years 5 months 16 days | |
Aggregate Intrinsic Value, Outstanding Beginning Balance | $ 17,210 | |
Aggregate Intrinsic Value, Outstanding Ending Balance | 1,789 | $ 17,210 |
Aggregate Intrinsic Value, Exercisable Ending Balance | $ 312 |
Stock-Based Compensation - Sche
Stock-Based Compensation - Schedule of Weighted Average Assumptions Used and Weighted Average Grant Date Fair Value of Stock Options (Detail) - Stock options [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Approximate risk-free interest rate | 1.30% | 1.80% | 1.90% |
Average expected life (years) | 6 years 1 month 13 days | 6 years 2 months 1 day | 6 years 2 months 12 days |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility | 45.30% | 33.10% | 43.50% |
Weighted average grant date fair value of stock options granted | $ 3.88 | $ 7.39 | $ 7.88 |
Common Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Weighted average grant date fair value of stock options granted | $ 8.72 | $ 20.65 | $ 17.67 |
Stock-Based Compensation - Su75
Stock-Based Compensation - Summarizes the Activities for Unvested RSUs and DSUs (Detail) - Restricted Stock Units And Deferred Stock Units [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Underlying Shares, Unvested - Beginning balance | shares | 974,989 |
Number of Underlying Shares, Granted | shares | 1,007,567 |
Number of Underlying Shares, Vested | shares | (351,239) |
Number of Underlying Shares, Forfeited/canceled | shares | (134,269) |
Number of Underlying Shares, Unvested - Ending balance | shares | 1,497,048 |
Weighted Average Grant Date Fair Value, Unvested - Beginning balance | $ / shares | $ 19.55 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 8.07 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 17.26 |
Weighted Average Grant Date Fair Value, Forfeited/canceled | $ / shares | 14.77 |
Weighted Average Grant Date Fair Value, Unvested - Ending balance | $ / shares | $ 12.81 |
Stock-Based Compensation - Su76
Stock-Based Compensation - Summarizes the Activity for Restricted Stock (Detail) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Underlying Shares, Unvested - Beginning balance | shares | 213,585 |
Number of Underlying Shares, Granted | shares | 127,200 |
Number of Underlying Shares, Vested | shares | (64,113) |
Number of Underlying Shares, Forfeited/canceled | shares | (42,700) |
Number of Underlying Shares, Unvested - Ending balance | shares | 233,972 |
Weighted Average Grant Date Fair Value, Unvested - Beginning balance | $ / shares | $ 19 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 8.89 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 18.78 |
Weighted Average Grant Date Fair Value, Forfeited/canceled | $ / shares | 15.19 |
Weighted Average Grant Date Fair Value, Unvested - Ending balance | $ / shares | $ 14.26 |
Employee Retirement and Postr77
Employee Retirement and Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |||
Employee Contribution | 100.00% | ||
Percentage of employees contribution matched by the company | 4.00% | ||
Employer Contribution | $ 4.1 | $ 3.5 | $ 2.5 |
Income Tax - (Loss) Before Inco
Income Tax - (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
United States | $ (108,363) | $ (97,398) | $ (78,075) |
Foreign | (14,828) | (8,977) | (5,280) |
Loss before income taxes | $ (123,191) | $ (106,375) | $ (83,355) |
Income Tax - Components of Prov
Income Tax - Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current: | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 451 | 396 | 355 |
Foreign | 24 | 15 | |
Current Total | 475 | 411 | 355 |
Deferred: | |||
Federal | 764 | 764 | 764 |
State | 75 | 63 | 64 |
Deferred Total | 839 | 827 | 828 |
Total | $ 1,314 | $ 1,238 | $ 1,183 |
Income Tax - Income Tax Compute
Income Tax - Income Tax Computed at Federal Statutory Tax Rates (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 35.00% | 35.00% | 35.00% |
Change in valuation allowance | (38.50%) | (37.10%) | (37.90%) |
State income taxes-net of federal tax benefit | 3.80% | 2.40% | 2.30% |
Other | (1.40%) | (1.50%) | (0.80%) |
Effective tax rate | (1.10%) | (1.20%) | (1.40%) |
Income Tax - Components of Defe
Income Tax - Components of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
Compensation accruals | $ 5,944 | $ 6,891 |
Stock options | 15,480 | 11,260 |
Inventory | 390 | 330 |
Warranty reserves | 990 | 695 |
Deferred rent | 14,976 | 14,808 |
Deferred revenue | 65,391 | 49,867 |
Federal net operating loss (NOL) | 125,257 | 111,893 |
State NOL | 10,660 | 9,031 |
UNICAP adjustment | 6,742 | 3,792 |
Finite-lived intangible assets | 15,225 | 16,498 |
Other | 3,924 | 2,444 |
Total deferred income tax assets | 264,979 | 227,509 |
Fixed assets | (41,331) | (45,150) |
Indefinite-lived intangible assets | (8,264) | (7,425) |
Convertible Notes discount | (26,134) | (32,187) |
Other | (264) | (226) |
Total deferred income tax liabilities | (75,993) | (84,988) |
Total deferred income tax | 188,986 | 142,521 |
Valuation allowance | (197,250) | (149,946) |
Net deferred income tax liability | $ (8,264) | $ (7,425) |
Income Tax - Additional Informa
Income Tax - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Tax Credit Carryforward [Line Items] | |||
Utilization of NOL and tax credit carryforwards due to ownership changes | 50.00% | ||
Unrecognized tax benefits | $ 0 | $ 0 | $ 0 |
Interest or penalties related to uncertain tax positions | 0 | 0 | $ 0 |
Liabilities for interest and potential penalties | 0 | $ 0 | |
Increase (decrease) in unrecognized tax benefits | 0 | ||
Federal net operating loss [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Net operating loss carryforward | 347,000,000 | ||
State NOL [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Net operating loss carryforward | $ 228,000,000 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Leases [Line Items] | |||
Amortization of deferred airborne lease incentives | $ 29,519 | $ 20,163 | $ 12,769 |
Deferred airborne lease incentives included in current liabilities | 36,277 | 21,659 | |
Deferred airborne lease incentives included in non-current liabilities | 135,879 | 121,732 | |
Revenue share expense, net of amortization of deferred airborne lease incentives | 41,600 | 40,600 | 40,300 |
Contingent annual cash rebates | 1,800 | ||
Property and equipment, gross | 816,989 | 657,036 | |
Present value of net minimum lease payments | 4,793 | ||
Present value of net minimum lease payments, current portion | 2,800 | ||
Present value of net minimum lease payments, non-current portion | 2,000 | ||
Leased Computer Equipment [Member] | |||
Leases [Line Items] | |||
Property and equipment, gross | 3,900 | ||
Leased Network Equipment [Member] | |||
Leases [Line Items] | |||
Property and equipment, gross | 7,500 | ||
Certain Facilities and Equipment [Member] | |||
Leases [Line Items] | |||
Rental expense | 11,800 | 15,300 | 10,800 |
Cell Site Leases [Member] | |||
Leases [Line Items] | |||
Rental expense | $ 9,400 | $ 9,400 | $ 8,700 |
Minimum [Member] | Computer Equipment [Member] | |||
Leases [Line Items] | |||
Annual interest rate imputed | 7.00% | ||
Maximum [Member] | Computer Equipment [Member] | |||
Leases [Line Items] | |||
Annual interest rate imputed | 11.00% |
Leases - Annual Future Minimum
Leases - Annual Future Minimum Obligations for Operating Leases Other than Arrangements with Commercial Airline Partners (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Leases [Abstract] | |
2,017 | $ 19,903 |
2,018 | 17,234 |
2,019 | 16,130 |
2,020 | 14,273 |
2,021 | 14,005 |
Thereafter | $ 94,605 |
Leases - Annual Future Minimu85
Leases - Annual Future Minimum Obligation under Capital Leases (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Leases [Abstract] | |
2,017 | $ 3,274 |
2,018 | 1,561 |
2,019 | 458 |
2,020 | 0 |
Thereafter | 0 |
Total minimum lease payments | 5,293 |
Less: Amount representing interest | (500) |
Present value of net minimum lease payments | $ 4,793 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) $ in Millions | Dec. 31, 2016USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,017 | $ 61.9 |
2,018 | 46.9 |
2,019 | 49.2 |
2,020 | 62.2 |
2,021 | 61.7 |
Thereafter | $ 284.2 |
Canadian ATG Spectrum License -
Canadian ATG Spectrum License - Additional Information (Detail) - License Agreement [Member] - Canadian ATG Spectrum License Agreement [Member] CAD in Millions | 12 Months Ended | ||||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jul. 17, 2012USD ($) | Jul. 17, 2012CAD | |
Agreements [Line Items] | |||||
Initial term of agreement | 10 years | ||||
Commencement date of agreement | Aug. 14, 2012 | ||||
Additional renewal period following the initial expiration | 10 years | ||||
Renewable period thereafter | 5 years | ||||
One-time agreement payment | $ 3,300,000 | CAD 3.3 | |||
Expiration date of agreement between SkySurf with Industry Canada | Jun. 29, 2019 | ||||
Monthly payment during the initial term of agreement | $ 100,000 | CAD 0.1 | |||
One-time payment included in prepaid expenses and other current assets | $ 100,000 | $ 100,000 | |||
One-time payment included in other non-current assets | $ 1,900,000 | 1,900,000 | |||
Amortization period of agreement | 25 years | ||||
Total amount of monthly payments incurred | $ 1,200,000 | 1,100,000 | $ 1,100,000 | ||
Maximum [Member] | |||||
Agreements [Line Items] | |||||
Total amortization expenses | $ 100,000 | $ 100,000 | $ 100,000 |
Canadian ATG Spectrum License88
Canadian ATG Spectrum License - Summary of Amortization Expense (Detail) - License Agreement [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Schedule Of Estimated Future Amortization Expense [Line Items] | |
2,017 | $ 97 |
2,018 | 97 |
2,019 | 97 |
2,020 | 97 |
2,021 | 97 |
Thereafter | $ 1,505 |
Quarterly Data (Unaudited) - Su
Quarterly Data (Unaudited) - Summarized Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenue | $ 159,998 | $ 147,267 | $ 147,539 | $ 141,746 | $ 137,779 | $ 126,407 | $ 121,191 | $ 115,511 | $ 596,550 | $ 500,888 | $ 408,491 |
Operating loss | (2,175) | (8,774) | (7,096) | (8,592) | (14,921) | (11,563) | (8,568) | (9,790) | (26,637) | (44,842) | (50,669) |
Net loss | (26,932) | (33,273) | (40,194) | (24,106) | (33,879) | (28,870) | (24,772) | (20,092) | (124,505) | (107,613) | (84,538) |
Net loss to attributable to common stock | $ (26,932) | $ (33,273) | $ (40,194) | $ (24,106) | $ (33,879) | $ (28,870) | $ (24,772) | $ (20,092) | $ (124,505) | $ (107,613) | $ (84,538) |
Net loss attributable to common stock per share-basic and diluted | $ (0.34) | $ (0.42) | $ (0.51) | $ (0.31) | $ (0.43) | $ (0.37) | $ (0.32) | $ (0.24) | $ (1.58) | $ (1.35) | $ (0.99) |
Weighted average number of shares-basic and diluted | 79,067 | 79,003 | 78,849 | 78,738 | 78,678 | 78,633 | 78,478 | 83,126 | 78,915 | 79,701 | 85,147 |
Condensed Financial Informati90
Condensed Financial Information of Registrant - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents | $ 117,302 | $ 147,342 | $ 131,295 | $ 266,342 |
Short-term investments | 338,477 | 219,491 | ||
Prepaid expenses and other current assets | 24,942 | 10,920 | ||
Total assets | 1,246,196 | 1,004,353 | ||
Liabilities and Stockholders' equity | ||||
Total current liabilities | 251,063 | 197,578 | ||
Long-term debt | 800,715 | 542,573 | ||
Other non-current liabilities | 90,668 | 68,850 | ||
Total liabilities | 1,286,589 | 938,158 | ||
Total stockholders' equity (deficit) | (40,393) | 66,195 | 197,758 | 270,190 |
Total liabilities and stockholders' equity | 1,246,196 | 1,004,353 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash and cash equivalents | 1,071 | 71,889 | $ 73,991 | $ 173,928 |
Short-term investments | 213,905 | 179,593 | ||
Prepaid expenses and other current assets | 567 | |||
Investments and advances with subsidiaries | 44,288 | 95,076 | ||
Total assets | 259,831 | 346,558 | ||
Liabilities and Stockholders' equity | ||||
Total current liabilities | 4,996 | 4,862 | ||
Long-term debt | 286,964 | 268,076 | ||
Other non-current liabilities | 8,264 | 7,425 | ||
Total liabilities | 300,224 | 280,363 | ||
Total stockholders' equity (deficit) | (40,393) | 66,195 | ||
Total liabilities and stockholders' equity | $ 259,831 | $ 346,558 |
Condensed Financial Informati91
Condensed Financial Information of Registrant - Condensed Statements of Operations and Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Interest income | $ (1,635) | $ (181) | $ (61) | ||||||||
Interest expense | 83,647 | 58,889 | 32,738 | ||||||||
Total other expense | 96,554 | 61,533 | 32,686 | ||||||||
Income (loss) before income taxes | (123,191) | (106,375) | (83,355) | ||||||||
Income tax provision | 1,314 | 1,238 | 1,183 | ||||||||
Net loss | $ (26,932) | $ (33,273) | $ (40,194) | $ (24,106) | $ (33,879) | $ (28,870) | $ (24,772) | $ (20,092) | (124,505) | (107,613) | (84,538) |
Comprehensive loss | (124,480) | (108,601) | (85,313) | ||||||||
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Interest income | (978) | (158) | (46) | ||||||||
Interest expense | 32,461 | 24,609 | |||||||||
Total other expense | 31,483 | 24,451 | (46) | ||||||||
Income (loss) before income taxes | (31,483) | (24,451) | 46 | ||||||||
Income tax provision | 1,276 | 1,238 | 1,183 | ||||||||
Equity losses of subsidiaries | 91,746 | 81,924 | 83,401 | ||||||||
Net loss | (124,505) | (107,613) | (84,538) | ||||||||
Comprehensive loss | $ (124,480) | $ (108,601) | $ (85,313) |
Condensed Financial Informati92
Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | Mar. 03, 2015 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||||||||||
Net loss | $ (26,932) | $ (33,273) | $ (40,194) | $ (24,106) | $ (33,879) | $ (28,870) | $ (24,772) | $ (20,092) | $ (124,505) | $ (107,613) | $ (84,538) | |
Accretion of debt discount | 17,496 | 12,555 | ||||||||||
Amortization of deferred financing costs | 3,803 | 4,169 | 3,173 | |||||||||
Net cash provided by (used in) operating activities | 64,988 | 104,856 | 28,972 | |||||||||
Acquisition of short-term investments | (363,436) | (369,402) | (119,924) | |||||||||
Redemption of short-term investments | 244,450 | 229,852 | 39,983 | |||||||||
(Increase) decrease in investing restricted cash | 224 | (192) | (2,500) | |||||||||
Net cash used in investing activities | (295,559) | (292,815) | (231,972) | |||||||||
Financing activities: | ||||||||||||
Proceeds from issuance of convertible notes | 361,940 | |||||||||||
Forward transactions | $ (140,000) | (140,000) | ||||||||||
Net cash provided by financing activities | 201,053 | 203,221 | 67,995 | |||||||||
Increase (decrease) in cash and cash equivalents | (30,040) | 16,047 | (135,047) | |||||||||
Cash and cash equivalents at beginning of period | 147,342 | 131,295 | 147,342 | 131,295 | 266,342 | |||||||
Cash and cash equivalents at end of period | 117,302 | 147,342 | 117,302 | 147,342 | 131,295 | |||||||
Parent Company [Member] | ||||||||||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||||||||||
Net loss | (124,505) | (107,613) | (84,538) | |||||||||
Accretion of debt discount | 17,496 | 12,555 | ||||||||||
Amortization of deferred financing costs | 1,392 | 1,044 | ||||||||||
Subsidiary equity losses | 91,746 | 81,924 | 83,401 | |||||||||
Other operating activities | 520 | 5,371 | 925 | |||||||||
Net cash provided by (used in) operating activities | (13,351) | (6,719) | (212) | |||||||||
Acquisition of short-term investments | (213,905) | (329,503) | (79,941) | |||||||||
Redemption of short-term investments | 179,593 | 189,868 | 39,983 | |||||||||
Investments and advances with subsidiaries | (23,312) | (71,964) | (62,832) | |||||||||
(Increase) decrease in investing restricted cash | (114) | |||||||||||
Net cash used in investing activities | (57,738) | (211,599) | (102,790) | |||||||||
Financing activities: | ||||||||||||
Proceeds from issuance of convertible notes | 361,940 | |||||||||||
Forward transactions | (140,000) | |||||||||||
Other financing activities | 271 | (5,724) | 3,065 | |||||||||
Net cash provided by financing activities | 271 | 216,216 | 3,065 | |||||||||
Increase (decrease) in cash and cash equivalents | (70,818) | (2,102) | (99,937) | |||||||||
Cash and cash equivalents at beginning of period | $ 71,889 | $ 73,991 | 71,889 | 73,991 | 173,928 | |||||||
Cash and cash equivalents at end of period | $ 1,071 | $ 71,889 | $ 1,071 | $ 71,889 | $ 73,991 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 31, 2016 |
Subsequent Event [Line Items] | ||
Proceeds from issuance of debt | $ 525,000 | |
Additional Senior Secured Notes Due 2022 [Member] | Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ||
Aggregate principal amount | $ 65,000 | |
Issue price as percentage of face value | 108.00% | |
Proceeds from issuance of debt | $ 70,200 | |
Loan origination fees | $ 2,000 |