Our performance in the fourth quarter of 2015 was in line with our expectations as we advanced our operating priorities. Our first high throughput satellite, Intelsat 29e, was successfully launched in January 2016. It is scheduled to enter into service in the second quarter, to deliver carrier-grade services to fixed and mobile network operators, and support broadband applications for enterprise, aeronautical and maritime mobility service providers and government customers operating throughout the Americas and the North Atlantic region.
In the course of completing an annual valuation of goodwill and other intangible assets that we are required to perform under U.S. Generally Accepted Accounting Principles, the company expects to incur a non-cash impairment charge resulting in a substantial reduction of our $6.8 billion goodwill and other intangible assets. The charges primarily reflect a reduction to the goodwill value established as a result of the acquisition of Intelsat in 2008.
At present, we believe this process will be completed in the next two weeks after which we would expect to file our Annual Report on Form 20-F for the year ended December 31, 2015.
All fourth quarter and full year 2015 financial information provided in this Quarterly Commentary is preliminary (indicated as “P”) and presented prior to giving effect to any impairment charges we ultimately incur.
