Financial Statements of Parent and Subsidiary Guarantors (Tables)

6 Months Ended

Sep. 30, 2011

Financial Statements of Parent and Subsidiary Guarantors [Abstract]

Condensed Consolidated Balance Sheet

Condensed Consolidated Balance Sheet as of September 30, 2011

	Issuing  Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	24,045	$	1,361	$	10,601	$	—		$	36,007
Accounts receivable, net		180,620		10,907		6,961		—			198,488
Inventories		109,048		9,467		3,828		—			122,343
Deferred income taxes		16,428		1,723		162		—			18,313
Prepaid expenses and other current assets		36,690		7,241		637		—			44,568
Total current assets		366,831		30,699		22,189		—			419,719
Satellites, net		329,053		241,900		—		—			570,953
Property and equipment, net		161,748		96,466		5,733		—			263,947
Other acquired intangible assets, net		4,261		58,865		8,953		—			72,079
Goodwill		63,939		9,687		9,719		—			83,345
Investments in subsidiaries and intercompany receivables		461,933		4,259		788		(466,980	)		—
Other assets		98,502		16,443		579		—			115,524
Total assets	$	1,486,267	$	458,319	$	47,961	$	(466,980	)	$	1,525,567
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	58,276	$	6,729	$	889	$	—		$	65,894
Accrued liabilities		90,502		23,349		3,458		—			117,309
Current portion of other long-term debt		126		1,086		—		—			1,212
Total current liabilities		148,904		31,164		4,347		—			184,415
Senior Notes due 2016, net		272,544		—		—		—			272,544
Other long-term debt		170,139		1,262		—		—			171,401
Intercompany payables		9,929		—		11,662		(21,591	)		—
Other liabilities		16,111		5,414		2,897		—			24,422
Total liabilities		617,627		37,840		18,906		(21,591	)		652,782
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		868,640		420,479		29,055		(449,534	)		868,640
Noncontrolling interest in subsidiary		—		—		—		4,145			4,145
Total equity		868,640		420,479		29,055		(445,389	)		872,785
Total liabilities and equity	$	1,486,267	$	458,319	$	47,961	$	(466,980	)	$	1,525,567

Condensed Consolidated Balance Sheet as of April 1, 2011

	Issuing  Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	24,347	$	7,600	$	8,543	$	—		$	40,490
Accounts receivable, net		171,183		10,644		10,062		—			191,889
Inventories		88,542		7,484		2,932		(403	)		98,555
Deferred income taxes		16,428		1,723		162		492			18,805
Prepaid expenses and other current assets		15,236		4,745		1,160		—			21,141
Total current assets		315,736		32,196		22,859		89			370,880
Satellites, net		276,418		256,582		—		—			533,000
Property and equipment, net		122,945		103,410		7,785		(1,001	)		233,139
Other acquired intangible assets, net		6,201		65,341		10,347		—			81,889
Goodwill		63,939		9,686		9,907		—			83,532
Investments in subsidiaries and intercompany receivables		490,288		2,246		404		(492,938	)		—
Other assets		89,834		12,922		552		—			103,308
Total assets	$	1,365,361	$	482,383	$	51,854	$	(493,850	)	$	1,405,748
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	62,465	$	8,164	$	1,083	$	—		$	71,712
Accrued liabilities		100,749		25,691		4,143		—			130,583
Current portion of other long-term debt		116		1,012		—		—			1,128
Total current liabilities		163,330		34,867		5,226		—			203,423
Senior Notes due 2016, net		272,296		—		—		—			272,296
Other long-term debt		60,203		1,743		—		—			61,946
Intercompany payables		14,606		—		11,945		(26,551	)		—
Other liabilities		16,464		4,321		3,057		—			23,842
Total liabilities		526,899		40,931		20,228		(26,551	)		561,507
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		838,462		441,452		31,626		(471,415	)		840,125
Noncontrolling interest in subsidiary		—		—		—		4,116			4,116
Total equity		838,462		441,452		31,626		(467,299	)		844,241
Total liabilities and equity	$	1,365,361	$	482,383	$	51,854	$	(493,850	)	$	1,405,748

Condensed Consolidated Statement of Operations

Condensed Consolidated Statement of Operations for the Three Months Ended September 30, 2011

	Issuing  Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	135,843		$	926		$	9,917		$	(75	)	$	146,611
Service revenues		21,988			51,638			3,187			(400	)		76,413
Total revenues		157,831			52,564			13,104			(475	)		223,024
Operating expenses:
Cost of product revenues		100,366			785			7,892			(1,134	)		107,909
Cost of service revenues		14,580			38,321			1,701			(398	)		54,204
Selling, general and administrative		29,919			11,983			2,477			—			44,379
Independent research and development		6,592			—			234			(17	)		6,809
Amortization of acquired intangible assets		970			3,239			558			—			4,767
Income (loss) from operations		5,404			(1,764	)		242			1,074			4,956
Other income (expense):
Interest income		112			—			2			(101	)		13
Interest expense		(152	)		(59	)		(101	)		101			(211	)
Income (loss) before income taxes		5,364			(1,823	)		143			1,074			4,758
Provision for (benefit from) income taxes		(3,443	)		(732	)		272			492			(3,411	)
Equity in net income (loss) of consolidated subsidiaries		(1,414	)		—			—			1,414			—
Net income (loss)		7,393			(1,091	)		(129	)		1,996			8,169
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			194			194
Net income (loss) attributable to ViaSat, Inc.	$	7,393		$	(1,091	)	$	(129	)	$	1,802		$	7,975

Condensed Consolidated Statement of Operations for the Six Months Ended September 30, 2011

	Issuing  Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	254,756		$	1,578		$	13,167		$	(344	)	$	269,157
Service revenues		39,685			104,989			5,413			(1,119	)		148,968
Total revenues		294,441			106,567			18,580			(1,463	)		418,125
Operating expenses:
Cost of product revenues		189,930			1,542			10,465			(1,743	)		200,194
Cost of service revenues		25,472			75,457			3,659			(1,068	)		103,520
Selling, general and administrative		56,534			25,060			4,521			(3	)		86,112
Independent research and development		11,957			—			572			(26	)		12,503
Amortization of acquired intangible assets		1,940			6,477			1,122			—			9,539
Income (loss) from operations		8,608			(1,969	)		(1,759	)		1,377			6,257
Other income (expense):
Interest income		245			—			4			(210	)		39
Interest expense		(152	)		(59	)		(210	)		210			(211	)
Income (loss) before income taxes		8,701			(2,028	)		(1,965	)		1,377			6,085
Provision for (benefit from) income taxes		(3,463	)		(822	)		115			492			(3,678	)
Equity in net income (loss) of consolidated subsidiaries		(3,315	)		—			—			3,315			—
Net income (loss)		8,849			(1,206	)		(2,080	)		4,200			9,763
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			29			29
Net income (loss) attributable to ViaSat, Inc.	$	8,849		$	(1,206	)	$	(2,080	)	$	4,171		$	9,734

Condensed Consolidated Statement of Operations for the Three Months Ended October 1, 2010

	Issuing  Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	122,639		$	1,629	$	4,043		$	(725	)	$	127,586
Service revenues		14,248			53,465		3,022			(432	)		70,303
Total revenues		136,887			55,094		7,065			(1,157	)		197,889
Operating expenses:
Cost of product revenues		85,148			1,515		2,408			(620	)		88,451
Cost of service revenues		9,823			30,026		2,270			(422	)		41,697
Selling, general and administrative		25,436			14,060		2,476			(20	)		41,952
Independent research and development		7,384			—		240			(2	)		7,622
Amortization of acquired intangible assets		1,233			3,239		622			—			5,094
Income (loss) from operations		7,863			6,254		(951	)		(93	)		13,073
Other income (expense):
Interest income		155			—		2			(94	)		63
Interest expense		(950	)		—		(94	)		94			(950	)
Income (loss) before income taxes		7,068			6,254		(1,043	)		(93	)		12,186
Provision for (benefit from) income taxes		1,918			2,443		24			—			4,385
Equity in net income (loss) of consolidated subsidiaries		2,729			—		—			(2,729	)		—
Net income (loss)		7,879			3,811		(1,067	)		(2,822	)		7,801
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—		—			15			15
Net income (loss) attributable to ViaSat, Inc.	$	7,879		$	3,811	$	(1,067	)	$	(2,837	)	$	7,786

Condensed Consolidated Statement of Operations for the Six Months Ended October 1, 2010

	Issuing  Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	247,780		$	2,180	$	5,385		$	(2,757	)	$	252,588
Service revenues		25,470			107,008		5,677			(850	)		137,305
Total revenues		273,250			109,188		11,062			(3,607	)		389,893
Operating expenses:
Cost of product revenues		180,436			1,990		3,352			(2,613	)		183,165
Cost of service revenues		17,827			59,707		4,035			(810	)		80,759
Selling, general and administrative		50,997			26,538		3,358			(20	)		80,873
Independent research and development		14,645			—		293			(2	)		14,936
Amortization of acquired intangible assets		2,493			6,477		734			—			9,704
Income (loss) from operations		6,852			14,476		(710	)		(162	)		20,456
Other income (expense):
Interest income		380			—		5			(183	)		202
Interest expense		(3,091	)		—		(183	)		183			(3,091	)
Income (loss) before income taxes		4,141			14,476		(888	)		(162	)		17,567
Provision for (benefit from) income taxes		374			5,752		240			—			6,366
Equity in net income (loss) of consolidated subsidiaries		7,442			—		—			(7,442	)		—
Net income (loss)		11,209			8,724		(1,128	)		(7,604	)		11,201
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—		—			154			154
Net income (loss) attributable to ViaSat, Inc.	$	11,209		$	8,724	$	(1,128	)	$	(7,758	)	$	11,047

Condensed Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows for the Six Months Ended September 30, 2011

	Issuing  Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(12,993	)	$	30,987		$	7,704		$	(1,912	)	$	23,786
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(116,927	)		(16,129	)		(2,169	)		1,912			(133,313	)
Cash paid for patents, licenses and other assets		(8,277	)		—			(18	)		—			(8,295	)
Long-term intercompany notes and investments		3,346			—			—			(3,346	)		—
Net cash provided by (used in) investing activities		(121,858	)		(16,129	)		(2,187	)		(1,434	)		(141,608	)
Cash flows from financing activities:
Proceeds from line of credit borrowings		130,000			—			—			—			130,000
Payments on line of credit		(20,000	)		—			—			—			(20,000	)
Proceeds from issuance of common stock under equity plans		6,167			—			—			—			6,167
Purchase of common stock in treasury		(2,250	)		—			—			—			(2,250	)
Payments on capital lease		(54	)		(411	)		—			—			(465	)
Intercompany long-term financing		20,686			(20,686	)		(3,346	)		3,346			—
Net cash provided by (used in) financing activities		134,549			(21,097	)		(3,346	)		3,346			113,452
Effect of exchange rate changes on cash		—			—			(113	)		—			(113	)
Net increase (decrease) in cash and cash equivalents		(302	)		(6,239	)		2,058			—			(4,483	)
Cash and cash equivalents at beginning of period		24,347			7,600			8,543			—			40,490
Cash and cash equivalents at end of period	$	24,045		$	1,361		$	10,601		$	—		$	36,007

Condensed Consolidated Statement of Cash Flows for the Six Months Ended October 1, 2010

	Issuing  Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidation  and Elimination Adjustments			Consolidated
	(Unaudited, in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	36,019		$	60,505		$	(201	)	$	(237	)	$	96,086
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(81,154	)		(27,098	)		(1,503	)		237			(109,518	)
Cash paid for patents, licenses and other assets		(8,370	)		(25	)		(32	)		—			(8,427	)
Payment related to acquisition of business, net of cash acquired		(14,203	)		—			747			—			(13,456	)
Long-term intercompany notes and investments		(2,980	)		100			(213	)		3,093			—
Net cash provided by (used in) investing activities		(106,707	)		(27,023	)		(1,001	)		3,330			(131,401	)
Cash flows from financing activities:
Proceeds from line of credit borrowings		15,000			—			—			—			15,000
Payments on line of credit		(30,000	)		—			—			—			(30,000	)
Proceeds from issuance of common stock under equity plans		16,234			—			—			—			16,234
Purchase of common stock in treasury		(1,884	)		—			—			—			(1,884	)
Intercompany long-term financing		41,858			(41,745	)		2,980			(3,093	)		—
Net cash provided by (used in) financing activities		41,208			(41,745	)		2,980			(3,093	)		(650	)
Effect of exchange rate changes on cash		—			—			115			—			115
Net increase (decrease) in cash and cash equivalents		(29,480	)		(8,263	)		1,893			—			(35,850	)
Cash and cash equivalents at beginning of period		66,258			16,216			7,157			—			89,631
Cash and cash equivalents at end of period	$	36,778		$	7,953		$	9,050		$	—		$	53,781