Maxar Technologies Reports Third Quarter 2021 Results

MAXAR TECHNOLOGIES INC. Unaudited Condensed Consolidated Balance Sheets (In millions, except per share amounts)

	September 30,			December 31,
	2021			2020
Assets
Current assets:
Cash and cash equivalents	$	36		$	27
Trade and other receivables, net		365			327
Inventory, net		42			31
Advances to suppliers		17			24
Prepaid and other current assets		51			59
Total current assets		511			468
Non-current assets:
Orbital receivables, net		324			361
Property, plant and equipment, net		902			883
Intangible assets, net		812			895
Non-current operating lease assets		143			163
Goodwill		1,627			1,627
Other non-current assets		95			86
Total assets	$	4,414		$	4,483
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	92		$	115
Accrued liabilities		72			65
Accrued compensation and benefits		81			105
Contract liabilities		259			278
Current portion of long-term debt		18			8
Current operating lease liabilities		42			41
Other current liabilities		42			51
Total current liabilities		606			663
Non-current liabilities:
Pension and other postretirement benefits		183			192
Operating lease liabilities		136			158
Long-term debt		2,064			2,414
Other non-current liabilities		95			120
Total liabilities		3,084			3,547
Commitments and contingencies
Stockholders’ equity:
Common stock ($0.0001 par value, 240 million common shares authorized; 72.6 million and 61.2 million issued and outstanding at September 30, 2021 and December 31, 2020, respectively)		—			—
Additional paid-in capital		2,224			1,818
Accumulated deficit		(790	)		(763	)
Accumulated other comprehensive loss		(105	)		(120	)
Total Maxar stockholders' equity		1,329			935
Noncontrolling interest		1			1
Total stockholders' equity		1,330			936
Total liabilities and stockholders' equity	$	4,414		$	4,483

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