Annual report pursuant to Section 13 and 15(d)

Tower Sale and Leaseback (Tables)

v3.6.0.2
Tower Sale and Leaseback (Tables)
12 Months Ended
Dec. 31, 2016
Tower Sale and Leaseback [Abstract]  
Schedule of Sale Leaseback Transactions
The following table summarizes the impacts to the Consolidated Balance Sheets (amounts in thousands):
 
December 31, 2016
Property and equipment (1)
$
18,792

Tower obligation(2)
$
87,653

(1) Property conveyed to Vertical Bridge as part of the Tower Transaction, but remains on our Consolidated Balance Sheets.
(2) Excluding current portion and net of deferred transaction costs.
Schedule of Future Minimum Lease Payments for Tower Obligation
Future minimum payments related to the Tower Obligation, including expected renewals and excluding deferred transaction costs, are summarized below (amounts in thousands):
Years ending December 31,
Total
2017
$
6,996

2018
7,136

2019
7,279

2020
7,425

2021
7,573

2022 and thereafter
150,117

Total minimum payments
186,526

Less amount representing interest
96,722

Tower obligation
$
89,804

A summary of future minimum lease payments follows (amounts in thousands):
Years ending December 31:
Operating
 
Capital
2017
$
46,249

 
13,433

2018
35,822

 
13,440

2019
27,525

 
13,450

2020
22,047

 
13,459

2021
16,797

 
12,044

2022 and thereafter
37,063

 
7,705

Total minimum lease payments
$
185,503

 
73,531

Less amount representing interest
 
 
13,884

Less current maturity of obligations under capital leases
 
 
9,331

Long-term obligations under capital leases, excluding current maturity
 
 
$
50,316