Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Long-Term Debt

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

	As of December 31,
	2014					2013
	Carrying Value			Fair Value		Carrying Value			Fair Value
	(In thousands)
6 5/8% Senior Notes due 2014 (1)	$	—		$	—	$	1,000,000		$	1,040,200
7 3/4% Senior Notes due 2015 (2)	650,001			664,321		750,000			813,750
7 1/8% Senior Notes due 2016	1,500,000			1,580,625		1,500,000			1,657,500
4 5/8% Senior Notes due 2017	900,000			933,750		900,000			946,962
4 1/4% Senior Notes due 2018	1,200,000			1,245,600		1,200,000			1,221,792
7 7/8% Senior Notes due 2019	1,400,000			1,589,700		1,400,000			1,603,000
5 1/8% Senior Notes due 2020	1,100,000			1,100,000		1,100,000			1,104,950
6 3/4% Senior Notes due 2021	2,000,000			2,157,500		2,000,000			2,122,500
5 7/8% Senior Notes due 2022	2,000,000			2,055,000		2,000,000			1,997,500
5 % Senior Notes due 2023	1,500,000			1,470,000		1,500,000			1,458,090
5 7/8% Senior Notes due 2024	2,000,000			2,019,800		—			—
Other notes payable (3)	14,701			14,701		59,313			59,313
Subtotal	14,264,702			$	14,830,997	13,409,313			$	14,025,557
Unamortized discounts, net	(15,219		)			(19,198		)
Capital lease obligations (4)	194,669			NA		219,902			NA
Total long-term debt and capital lease obligations (including current portion)	$	14,444,152				$	13,610,017

(1) During the nine months ended September 30, 2014, we repurchased $100 million of our 6 5/8% Senior Notes due 2014 in open market trades.  The remaining balance of $900 million was redeemed on October 1, 2014.

(2) During 2014, we repurchased $100 million of our 7 3/4% Senior Notes due 2015 in open market trades.  The remaining balance of $650 million matures on May 31, 2015 and is included in “Current portion of long-term debt and capital lease obligations” on our Consolidated Balance Sheets as of December 31, 2014.

(3) On February 20, 2014, we entered into the Satellite and Tracking Stock Transaction, which resulted in a decrease in “Other notes payable” of $44 million related to the in-orbit incentive obligations associated with the Transferred Satellites.  See Note 4 and Note 15 for further discussion.

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

Schedule of interest on long-term debt

		Annual
	Semi-Annual	Debt Service
	Payment Dates	Requirements
		(In thousands)
7 1/8% Senior Notes due 2016	February 1 and August 1	$	106,875
4 5/8% Senior Notes due 2017	January 15 and July 15	$	41,625
4 1/4% Senior Notes due 2018	April 1 and October 1	$	51,000
7 7/8% Senior Notes due 2019	March 1 and September 1	$	110,250
5 1/8% Senior Notes due 2020	May 1 and November 1	$	56,375
6 3/4% Senior Notes due 2021	June 1 and December 1	$	135,000
5 7/8% Senior Notes due 2022	January 15 and July 15	$	117,500
5% Senior Notes due 2023	March 15 and September 15	$	75,000
5 7/8% Senior Notes due 2024	May 15 and November 15	$	117,500

Schedule of other long term debt and capital lease obligations

	As of December 31,
	2014			2013
	(In thousands)
Satellites and other capital lease obligations	$	194,669		$	219,902
Notes payable related to satellite vendor financing and other debt payable in installments through 2025 with interest rates ranging from approximately 6.0% to 12.5%	14,701			59,313
Total	209,370			279,215
Less: current portion	(28,133		)	(32,607		)
Other long-term debt and capital lease obligations, net of current portion	$	181,237		$	246,608

Future minimum lease payments under capital lease obligations

Future minimum lease payments under the capital lease obligations, together with the present value of the net minimum lease payments as of December 31, 2014 are as follows (in thousands):

For the Years Ended December 31,
2015	$	76,842
2016	76,809
2017	76,007
2018	75,982
2019	50,331
Thereafter	112,000
Total minimum lease payments	467,971
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	(220,883		)
Net minimum lease payments	247,088
Less: Amount representing interest	(52,419		)
Present value of net minimum lease payments	194,669
Less: Current portion	(28,133		)
Long-term portion of capital lease obligations	$	166,536