Annual report pursuant to Section 13 and 15(d)

Tower Sale and Leaseback (Tables)

v3.8.0.1
Tower Sale and Leaseback (Tables)
12 Months Ended
Dec. 31, 2017
Tower Sale and Leaseback [Abstract]  
Summary of Impact of Sale Leaseback Transactions
The following table summarizes the impacts to the Consolidated Balance Sheets (amounts in thousands):
 
December 31, 2017
December 31, 2016
Property and equipment, net (1)
$
19,094

$
18,792

Tower obligations(2)
$
93,606

$
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 Obligations, including expected renewals and excluding deferred transaction costs, are summarized below (amounts in thousands):
Years ending December 31,
Total
2018
$
7,465

2019
7,615

2020
7,767

2021
7,922

2022
8,081

2023 and thereafter
149,300

Total minimum payments
188,150

Less amount representing interest
91,978

Tower obligations
$
96,172

A summary of future minimum lease payments follows (amounts in thousands):
Years ending December 31:
Operating
 
Capital
2018
$
48,409

 
13,440

2019
38,293

 
13,450

2020
27,566

 
13,459

2021
19,806

 
12,044

2022
11,715

 
5,293

2023 and thereafter
28,298

 
2,411

Total minimum lease payments
$
174,087

 
60,097

Less amount representing interest
 
 
9,781

Less current maturity of obligations under capital leases
 
 
10,028

Long-term obligations under capital leases, excluding current maturity
 
 
$
40,288