
	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019

	(In thousands)
Operating lease cost (1)	$	18,118	$	83,914	$	35,849	$	164,984

Short-term lease cost (2)		2,891		3,742		5,558		6,226

Finance lease cost:
Amortization of right-of-use assets		17,755		3,805		35,659		9,913
Interest on lease liabilities		5,443		1,099		11,256		2,280
Total finance lease cost		23,198		4,904		46,915		12,193
Total lease costs	$	44,207	$	92,560	$	88,322	$	183,403

(1)

Pursuant to the Master Transaction Agreement, effective September 10, 2019, approximately $495 million of previously reported operating lease assets and the related liabilities for satellites and real estate assets were transferred to us. See Note 13 for further information. These satellite and real estate assets are no longer included in “Operating lease assets,” “Other current liabilities” and “Operating lease liabilities,” but rather in “Property and equipment, net” on our Condensed Consolidated Balance Sheets. Lease expense related to these satellites and real estate assets for the three and six months ended June 30, 2019 was $67 million and $134 million, respectively.

(2)

Leases that have terms of 12 months or less.

Summary of supplemental balance sheet information related to leases


	As of
	June 30,		December 31,
	2020		2019

	(In thousands)
Operating Leases:
Operating lease assets (1)	$	113,852	$	144,330

Other current liabilities	$	58,625	$	57,910
Operating lease liabilities		77,713		84,795
Total operating lease liabilities	$	136,338	$	142,705

Finance Leases:
Property and equipment, gross	$	889,708	$	890,598
Accumulated depreciation		(718,633)		(683,271)
Property and equipment, net	$	171,075	$	207,327

Other current liabilities	$	64,501	$	61,493
Other long-term liabilities		136,770		171,706
Total finance lease liabilities	$	201,271	$	233,199

Weighted Average Remaining Lease Term:
Operating leases		2.9 years		3.1 years
Finance leases		3.4 years		3.8 years

Weighted Average Discount Rate:
Operating leases		4.6%		5.0%
Finance leases		10.3%		10.2%

(1)

During the six months ended June 30, 2020, we impaired the operating lease assets related to the narrowband IoT deployment that would not be utilized in our 5G Network Deployment, resulting in a $27 million non-cash impairment charge in “Impairment of long-lived assets” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See Note 2 for further information.

Summary of maturities of finance lease liabilities

Maturities of lease liabilities as of June 30, 2020 were as follows:


	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total

	(In thousands)
2020 (remaining six months)	$	33,509	$	37,765	$	71,274
2021		55,402		82,610		138,012
2022		30,511		48,307		78,818
2023		13,498		40,942		54,440
2024		8,367		30,707		39,074
Thereafter		3,346		—		3,346
Total lease payments		144,633		240,331		384,964
Less: Imputed interest		(8,295)		(39,060)		(47,355)
Total		136,338		201,271		337,609
Less: Current portion		(58,625)		(64,501)		(123,126)
Long-term portion of lease obligations	$	77,713	$	136,770	$	214,483