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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2011
Long-Term Debt  
Schedule of interest on long-term debt

 

 

 

 

 

 

Annual

 

 

 

Semi-Annual

 

Debt Service

 

 

 

Payment Dates

 

Requirements

 

 

 

 

 

(In thousands)

 

7% Senior Notes due 2013

 

April 1 and October 1

 

$

35,000

 

6 5/8% Senior Notes due 2014

 

April 1 and October 1

 

$

66,250

 

7 3/4% Senior Notes due 2015

 

May 31 and November 30

 

$

58,125

 

7 1/8% Senior Notes due 2016

 

February 1 and August 1

 

$

106,875

 

7 7/8% Senior Notes due 2019

 

March 1 and September 1

 

$

110,250

 

6 3/4% Senior Notes due 2021

 

June 1 and December 1

 

$

135,000

 

Schedule of carrying and fair values of the entity's debt facilities

 

 

 

 

As of December 31,

 

 

 

2011

 

2010

 

 

 

Carrying 
Value

 

Fair Value

 

Carrying 
Value

 

Fair Value

 

 

 

(In thousands)

 

6 3/8% Senior Notes due 2011 (1)

 

$

 

$

 

$

1,000,000

 

$

1,032,500

 

7 % Senior Notes due 2013

 

500,000

 

535,000

 

500,000

 

532,815

 

6 5/8% Senior Notes due 2014

 

1,000,000

 

1,060,000

 

1,000,000

 

1,032,500

 

7 3/4% Senior Notes due 2015

 

750,000

 

817,500

 

750,000

 

798,750

 

7 1/8% Senior Notes due 2016

 

1,500,000

 

1,593,750

 

1,500,000

 

1,548,600

 

7 7/8% Senior Notes due 2019

 

1,400,000

 

1,589,000

 

1,400,000

 

1,463,000

 

6 3/4% Senior Notes due 2021

 

2,000,000

 

2,140,000

 

 

 

Mortgages and other notes payable

 

71,871

 

71,871

 

77,965

 

77,965

 

Subtotal

 

7,221,871

 

$

7,807,121

 

6,227,965

 

$

6,486,130

 

Capital lease obligations (2)

 

271,908

 

NA

 

286,971

 

NA

 

Total long-term debt and capital lease obligations (including current portion)

 

$

7,493,779

 

 

 

$

6,514,936

 

 

 

 

(1)         During September 2011, we repurchased $85 million of our 6 3/8% Senior Notes due 2011 in open market transactions at amounts close to par plus accrued interest.  On October 3, 2011, we redeemed the remaining $915 million principal balance of our 6 3/8% Senior Notes due 2011.

(2)         Disclosure regarding fair value of capital leases is not required.

Schedule of other long term debt and capital lease obligations

 

 

 

 

As of December 31,

 

 

 

2011

 

2010

 

 

 

(In thousands)

 

Satellites and other capital lease obligations

 

$

271,908

 

$

286,971

 

8% note payable for EchoStar VII satellite vendor financing, payable over 13 years from launch

 

6,286

 

7,577

 

6% note payable for EchoStar X satellite vendor financing, payable over 15 years from launch

 

9,968

 

10,862

 

6% note payable for EchoStar XI satellite vendor financing, payable over 15 years from launch

 

15,106

 

15,951

 

6% note payable for EchoStar XIV satellite vendor financing, payable over 15 years from launch

 

21,055

 

22,000

 

6% note payable for EchoStar XV satellite vendor financing, payable over 15 years from launch

 

17,227

 

18,000

 

Mortgages and other unsecured notes payable due in installments through 2017 with interest rates ranging from approximately 2% to 13%

 

2,229

 

3,575

 

Total

 

343,779

 

364,936

 

Less current portion

 

(35,645

)

(30,895

)

Other long-term debt and capital lease obligations, net of current portion

 

$

308,134

 

$

334,041

 

Future minimum lease payments under capital lease obligations

 

 

For the Years Ended December 31,

 

 

 

2012

 

$

84,715

 

2013

 

77,893

 

2014

 

76,296

 

2015

 

75,970

 

2016

 

75,970

 

Thereafter

 

314,269

 

Total minimum lease payments

 

705,113

 

Less: Amount representing lease of the orbital location and estimated executory costs (primarily insurance and maintenance) including profit thereon, included in total minimum lease payments

 

(323,382

)

Net minimum lease payments

 

381,731

 

Less: Amount representing interest

 

(109,823

)

Present value of net minimum lease payments

 

271,908

 

Less: Current portion

 

(29,202

)

Long-term portion of capital lease obligations

 

$

242,706