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Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases  
Summary of the components of lease expense

 

 

 

 

 

 

 

For the Three Months Ended 

 

 

    

March 31, 2019

 

 

 

(In thousands)

 

Operating lease cost

 

$

80,286

 

 

 

 

 

 

Short-term lease cost (1)

 

 

19,285

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

    Amortization of right-of-use assets

 

 

6,108

 

    Interest on lease liabilities

 

 

1,181

 

Total finance lease cost

 

 

7,289

 

Total lease costs

 

$

106,860

 

 

 

 

 

 

(1)

Leases that have terms of 12 month or less, including EchoStar XVIII.  See Note 13 for further information on our Related Party Transactions with DISH Network.

Summary of Supplemental cash flow information related to leases

 

 

 

 

 

 

 

For the Three Months Ended 

 

 

March 31, 2019

 

 

(In thousands)

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

    Operating cash flows from operating leases

 

$

81,012

 

    Operating cash flows from finance leases

 

$

1,195

 

    Financing cash flows from finance leases

 

$

6,055

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

    Operating leases

 

$

47,321

 

    Finance leases

 

$

 —

 

 

 

 

 

 

Right-of-use assets and liabilities recognized at January 1, 2019 upon adoption of ASC 842

 

$

730,180

 

 

 

 

 

 

 

Summary of supplemental balance sheet information related to leases

 

 

 

 

 

 

 

As of

 

 

 

March 31,

 

 

    

2019

    

 

 

(In thousands)

Operating Leases:

 

 

 

 

Operating lease right-of-use assets

 

$

708,122

 

 

 

 

 

 

Other current liabilities

 

$

233,658

 

Operating lease liabilities

 

 

477,711

 

Total operating lease liabilities

 

$

711,369

 

 

 

 

 

 

Finance Leases:

 

 

 

 

Property and equipment, gross

 

$

224,454

 

Accumulated depreciation

 

 

(178,848)

 

Property and equipment, net

 

$

45,606

 

 

 

 

 

 

Other current liabilities

 

$

18,349

 

Other long-term liabilities

 

 

42,403

 

Total finance lease liabilities

 

$

60,752

 

 

 

 

 

 

Weighted Average Remaining Lease Term:

 

 

 

 

    Operating leases

 

 

3.7 years

 

    Finance leases

 

 

3.1 years

 

 

 

 

 

 

Weighted Average Discount Rate:

 

 

 

 

    Operating leases

 

 

9.3%

 

    Finance leases

 

 

7.5%

 

 

 

 

 

 

 

Summary of maturities of operating lease liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Maturities of Lease Liabilities

 

 

 

Operating

 

Finance

 

 

 

 

For the Years Ending December 31,

 

Leases

 

Leases

 

Total

 

 

 

(In thousands)

 

2019 (remaining nine months)

 

$

224,955

 

$

16,740

 

$

241,695

 

2020

 

 

230,522

 

 

22,024

 

 

252,546

 

2021

 

 

190,024

 

 

22,026

 

 

212,050

 

2022

 

 

123,538

 

 

7,364

 

 

130,902

 

2023

 

 

23,770

 

 

 —

 

 

23,770

 

Thereafter

 

 

50,790

 

 

 —

 

 

50,790

 

Total lease payments

 

 

843,599

 

 

68,154

 

 

911,753

 

Less: Imputed interest

 

 

(132,230)

 

 

(7,402)

 

 

(139,632)

 

Total

 

 

711,369

 

 

60,752

 

 

772,121

 

Less: Current portion

 

 

(233,658)

 

 

(18,349)

 

 

(252,007)

 

Long-term portion of lease obligations

 

$

477,711

 

$

42,403

 

$

520,114