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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Mar. 31, 2021

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance Table

The following table sets forth information concerning the compensation of our principal

executive

officer(s) (“PEO(s)”) and Named Executive Officers (“NEOs”), with certain adjustments to reflect “compensation actually paid” to such individuals, as defined under SEC rules, for each of the fiscal years ended March 31, 2023, 2022 and 2021, our cumulative total shareholder return (“TSR”), the cumulative TSR of our peer group, net income (loss) and Adjusted EBITDA for each such fiscal year in accordance with SEC rules:


(a)		(b)					(c)					(d)					(e)					(f)					(g)					(h)					(i)					(j)					(k)
																																Value of Initial Fixed $100 Investment Based on:
Fiscal Year		Summary Compensation Table Total for First PEO (Mr. Baldridge) ($)					Compensation Actually Paid to First PEO (Mr. Baldridge) ($) (1)(2)					Summary Compensation Table Total for Second PEO (Mr. Dankberg) ($)					Compensation Actually Paid to Second PEO (Mr. Dankberg) ($) (1)(2)					Average Summary Compensation Table Total for Non-PEO NEOs ($)					Average Compensation Actually Paid to Non-PEO NEOs ($) (1)(2)					Total Shareholder Return ($)					Peer Group Total Shareholder Return ($) (3)					Net Income (Loss) ($) (in thousands) (4)					Adjusted EBITDA ($) (in thousands) (5)(6)
2023				4,854,625					(4,154,098	)				6,996,915					(2,285,665	)				2,211,338					312,927					94.21					115.70					1,084,806					583,170
2022				12,236,750					9,561,302					N/A					N/A					5,514,686					4,238,353					135.86					131.72					(15,534	)				611,218
2021				9,227,089					13,768,258					9,359,823					14,176,753					3,176,279					4,478,427					133.83					141.13					3,691					530,688

(1)	Amounts represent compensation actually paid to our PEO(s) and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year:


Fiscal Year		First PEO		Second PEO		Non-PEO NEOs
2023		Richard Baldridge		Mark Dankberg		Shawn Duffy, Kevin Harkenrider, Craig Miller and Mark Miller
2022		Richard Baldridge		N/A		Mark Dankberg, Shawn Duffy, Kevin Harkenrider and Mark Miller
2021		Richard Baldridge		Mark Dankberg		Shawn Duffy, James Dodd, Ken Peterman and Mark Miller

(2)	Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:


		2023																2022																2021
Adjustments(a)		First PEO (Mr. Baldridge)					Second PEO (Mr. Dankberg)					Average Non-PEO NEOs						First PEO (Mr. Baldridge)				Second PEO (Mr. Dankberg)					Average Non-PEO NEOs							First PEO (Mr. Baldridge)					Second PEO (Mr. Dankberg)					Average Non-PEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY				(1,754,200	)				(3,575,736	)				(908,425	)				(9,111,500	)				N/A					(3,785,879	)						(6,216,743	)				(6,216,743	)				(2,126,672	)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End				1,771,700					3,611,408					917,488					8,250,003					N/A					3,427,901							9,848,524					9,848,524					3,190,256
Increase/(deduction) for Awards Granted during Prior FY s that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End				(5,095,338	)				(5,177,747	)				(1,072,507	)				123,374					N/A					17,540							1,283,201					1,691,196					337,409
Increase/(deduction) for Awards Granted during Prior FY s that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date				(3,930,885	)				(4,140,505	)				(834,967	)				(1,937,325	)				N/A					(935,895	)						(373,813	)				(506,047	)				(98,845	)
TOTAL ADJUSTMENTS				(9,008,723	)				(9,282,580	)				(1,898,411	)				(2,675,448	)				N/A					(1,276,333	)						4,541,169					4,816,930					1,302,148

(a)

Fair value or change in fair value, as applicable, of equity awards in the Compensation Actually Paid columns was determined by reference to (1) for RSU awards, the closing price of a share of our common stock on the vesting date or applicable fiscal year end

date, and (2) for performance-based stock options, using a Monte Carlo simulation as of the applicable vesting date or applicable fiscal year end date which considered the likelihood of achieving the vesting conditions with respect to any relative TSR market condition.

(3)	For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the NASDAQ Telecommunications Index (the “Peer Group”).

(4)

Represents net income (loss) attributable to Viasat, Inc. Net income (loss) attributable to Viasat, Inc. for fiscal years 2023, 2022, and 2021 includes the

Link-16

TDL Business, which was sold to L3 Harris on January 3, 2023. Net income (loss) from continuing operations attributable to Viasat, Inc., which would have excluded this business, would have been ($217.6) million, ($114.7) million, and ($79.9) million for 2023, 2022, and 2021, respectively.

(5)

Adjusted EBITDA is a

non-GAAP

measure. We define Adjusted EBITDA as net income (loss) attributable to Viasat, Inc. before interest, income taxes, depreciation and amortization, adjusted to exclude certain significant items. We use Adjusted EBITDA to evaluate our operating performance, to allocate resources and capital, to measure performance for incentive compensation programs and to evaluate future growth opportunities. An itemized reconciliation between net income (loss) attributable to Viasat, Inc. and Adjusted EBITDA for fiscal years 2023, 2022, and 2021 is set forth below.


		Fiscal Year Ended March 31, 2023					Fiscal Year Ended March 31, 2022					Fiscal Year Ended March 31, 2021
(In thousands)
GAAP net income (loss) attributable to Viasat, Inc.				$ 1,084,806					$ (15,534	)				$ 3,691
Provision for (benefit from) income taxes				474,574					(14,237	)				9,441
Interest expense (income), net				7,297					28,887					32,247
Depreciation and amortization				500,377					495,447					397,102
Stock-based compensation expense				84,459					86,808					84,879
Acquisition and transaction related expenses (1)				93,548					33,965					3,328
Gain on the Link-16 TDL Sale				(1,661,891	)				—					—
Other income, net				—					(4,118	)				—
Adjusted EBITDA (2)				$ 583,170					$611,218					$530,688

(1)

Costs typically consist of acquisition, integration, and disposition related costs.

(2)

Amount includes both continuing and discontinued operations

,

excluding the fourth quarter of fiscal year 2023 gain on the

Link-16

TDL Sale.

(6)

Adjusted EBITDA for fiscal years 2023, 2022, and 2021 includes the

Link-16

TDL Business, which was sold to L3 Harris on January 3, 2023. Adjusted EBITDA from continuing operations, which would have excluded this business, would have been $501.1 million, $475.8 million, and $413.8 million for 2023, 2022, and 2021, respectively.

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote

(1)	Amounts represent compensation actually paid to our PEO(s) and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year:


Fiscal Year		First PEO		Second PEO		Non-PEO NEOs
2023		Richard Baldridge		Mark Dankberg		Shawn Duffy, Kevin Harkenrider, Craig Miller and Mark Miller
2022		Richard Baldridge		N/A		Mark Dankberg, Shawn Duffy, Kevin Harkenrider and Mark Miller
2021		Richard Baldridge		Mark Dankberg		Shawn Duffy, James Dodd, Ken Peterman and Mark Miller

Peer Group Issuers, Footnote

For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the NASDAQ Telecommunications Index (the “Peer Group”).

Adjustment To PEO Compensation, Footnote

(2)	Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:


		2023																2022																2021
Adjustments(a)		First PEO (Mr. Baldridge)					Second PEO (Mr. Dankberg)					Average Non-PEO NEOs						First PEO (Mr. Baldridge)				Second PEO (Mr. Dankberg)					Average Non-PEO NEOs							First PEO (Mr. Baldridge)					Second PEO (Mr. Dankberg)					Average Non-PEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY				(1,754,200	)				(3,575,736	)				(908,425	)				(9,111,500	)				N/A					(3,785,879	)						(6,216,743	)				(6,216,743	)				(2,126,672	)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End				1,771,700					3,611,408					917,488					8,250,003					N/A					3,427,901							9,848,524					9,848,524					3,190,256
Increase/(deduction) for Awards Granted during Prior FY s that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End				(5,095,338	)				(5,177,747	)				(1,072,507	)				123,374					N/A					17,540							1,283,201					1,691,196					337,409
Increase/(deduction) for Awards Granted during Prior FY s that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date				(3,930,885	)				(4,140,505	)				(834,967	)				(1,937,325	)				N/A					(935,895	)						(373,813	)				(506,047	)				(98,845	)
TOTAL ADJUSTMENTS				(9,008,723	)				(9,282,580	)				(1,898,411	)				(2,675,448	)				N/A					(1,276,333	)						4,541,169					4,816,930					1,302,148

(a)

Fair value or change in fair value, as applicable, of equity awards in the Compensation Actually Paid columns was determined by reference to (1) for RSU awards, the closing price of a share of our common stock on the vesting date or applicable fiscal year end

Non-PEO NEO Average Total Compensation Amount

$ 2,211,338

$ 5,514,686

$ 3,176,279

Non-PEO NEO Average Compensation Actually Paid Amount

$ 312,927

4,238,353

4,478,427

Adjustment to Non-PEO NEO Compensation Footnote

(2)	Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:


		2023																2022																2021
Adjustments(a)		First PEO (Mr. Baldridge)					Second PEO (Mr. Dankberg)					Average Non-PEO NEOs						First PEO (Mr. Baldridge)				Second PEO (Mr. Dankberg)					Average Non-PEO NEOs							First PEO (Mr. Baldridge)					Second PEO (Mr. Dankberg)					Average Non-PEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY				(1,754,200	)				(3,575,736	)				(908,425	)				(9,111,500	)				N/A					(3,785,879	)						(6,216,743	)				(6,216,743	)				(2,126,672	)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End				1,771,700					3,611,408					917,488					8,250,003					N/A					3,427,901							9,848,524					9,848,524					3,190,256
Increase/(deduction) for Awards Granted during Prior FY s that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End				(5,095,338	)				(5,177,747	)				(1,072,507	)				123,374					N/A					17,540							1,283,201					1,691,196					337,409
Increase/(deduction) for Awards Granted during Prior FY s that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date				(3,930,885	)				(4,140,505	)				(834,967	)				(1,937,325	)				N/A					(935,895	)						(373,813	)				(506,047	)				(98,845	)
TOTAL ADJUSTMENTS				(9,008,723	)				(9,282,580	)				(1,898,411	)				(2,675,448	)				N/A					(1,276,333	)						4,541,169					4,816,930					1,302,148

(a)

Fair value or change in fair value, as applicable, of equity awards in the Compensation Actually Paid columns was determined by reference to (1) for RSU awards, the closing price of a share of our common stock on the vesting date or applicable fiscal year end

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Total Shareholder Return Vs Peer Group

Tabular List, Table

Pay Versus Performance Tabular List

We believe the following

performance

measures represent the

most

important financial

performance

measures used by us to link compensation actually paid to our NEOs for the fiscal year ended March 31, 2023:

•

Revenue

•

Adjusted EBITDA

•

TSR Relative to the S&P MidCap 400 Index

•

Non-GAAP Diluted Net Income (Loss) Per Share

•

New Contract Awards

•

Net Operating Asset Turnover

Total Shareholder Return Amount

$ 94.21

135.86

133.83

Peer Group Total Shareholder Return Amount

115.7

131.72

141.13

Net Income (Loss)

$ 1,084,806,000

$ (15,534,000)

$ 3,691,000

Company Selected Measure Amount

583,170,000

611,218,000

530,688,000

Pay vs Performance Disclosure

Revenue

Pay vs Performance Disclosure

Adjusted EBITDA

Non-GAAP Measure Description

(5)

Adjusted EBITDA is a

non-GAAP

measure. We define Adjusted EBITDA as net income (loss) attributable to Viasat, Inc. before interest, income taxes, depreciation and amortization, adjusted to exclude certain significant items. We use Adjusted EBITDA to evaluate our operating performance, to allocate resources and capital, to measure performance for incentive compensation programs and to evaluate future growth opportunities. An itemized reconciliation between net income (loss) attributable to Viasat, Inc. and Adjusted EBITDA for fiscal years 2023, 2022, and 2021 is set forth below.


		Fiscal Year Ended March 31, 2023					Fiscal Year Ended March 31, 2022					Fiscal Year Ended March 31, 2021
(In thousands)
GAAP net income (loss) attributable to Viasat, Inc.				$ 1,084,806					$ (15,534	)				$ 3,691
Provision for (benefit from) income taxes				474,574					(14,237	)				9,441
Interest expense (income), net				7,297					28,887					32,247
Depreciation and amortization				500,377					495,447					397,102
Stock-based compensation expense				84,459					86,808					84,879
Acquisition and transaction related expenses (1)				93,548					33,965					3,328
Gain on the Link-16 TDL Sale				(1,661,891	)				—					—
Other income, net				—					(4,118	)				—
Adjusted EBITDA (2)				$ 583,170					$611,218					$530,688

(1)

Costs typically consist of acquisition, integration, and disposition related costs.

(2)

Amount includes both continuing and discontinued operations

,

excluding the fourth quarter of fiscal year 2023 gain on the

Link-16

TDL Sale.

Pay vs Performance Disclosure

TSR Relative to the S&P MidCap 400 Index

Pay vs Performance Disclosure

Non-GAAP Diluted Net Income (Loss) Per Share

Pay vs Performance Disclosure

New Contract Awards

Pay vs Performance Disclosure

Net Operating Asset Turnover

Richard Baldridge [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 4,854,625

$ 12,236,750

$ 9,227,089

PEO Actually Paid Compensation Amount

$ (4,154,098)

9,561,302

13,768,258

Richard Baldridge

Mark Dankberg [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 6,996,915

9,359,823

PEO Actually Paid Compensation Amount

$ (2,285,665)

14,176,753

Mark Dankberg

PEO | Richard Baldridge [Member] | Amounts Reported under the Stock Awards and Option Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (1,754,200)

(9,111,500)

(6,216,743)

PEO | Richard Baldridge [Member] | ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,771,700

8,250,003

9,848,524

PEO | Richard Baldridge [Member] | Awards Granted during Prior FYs that were Outstanding and Unvested as of Applicable FY End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(5,095,338)

123,374

1,283,201

PEO | Richard Baldridge [Member] | Awards Granted during Prior FYs that Vested During Applicable FY [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(3,930,885)

(1,937,325)

(373,813)

PEO | Richard Baldridge [Member] | Total Adjustments [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(9,008,723)

(2,675,448)

4,541,169

PEO | Mark Dankberg [Member] | Amounts Reported under the Stock Awards and Option Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(3,575,736)

(6,216,743)

PEO | Mark Dankberg [Member] | ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,611,408

9,848,524

PEO | Mark Dankberg [Member] | Awards Granted during Prior FYs that were Outstanding and Unvested as of Applicable FY End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(5,177,747)

1,691,196

PEO | Mark Dankberg [Member] | Awards Granted during Prior FYs that Vested During Applicable FY [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(4,140,505)

(506,047)

PEO | Mark Dankberg [Member] | Total Adjustments [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(9,282,580)

4,816,930

Non-PEO NEO | Amounts Reported under the Stock Awards and Option Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(908,425)

(3,785,879)

(2,126,672)

Non-PEO NEO | ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

917,488

3,427,901

3,190,256

Non-PEO NEO | Awards Granted during Prior FYs that were Outstanding and Unvested as of Applicable FY End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(1,072,507)

17,540

337,409

Non-PEO NEO | Awards Granted during Prior FYs that Vested During Applicable FY [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(834,967)

(935,895)

(98,845)

Non-PEO NEO | Total Adjustments [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (1,898,411)

$ (1,276,333)

$ 1,302,148