Dish Network 2000 Annual Report Download - page 61

Download and view the complete annual report

Please find page 61 of the 2000 Dish Network annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 86

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86

ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
F–10
The major components of marketable investment securities and restricted cash and marketable investment
securities are as follow (in thousands):
Marketable Investment Securities
Restricted Cash and Marketable
Investment Securities
December 31, December 31,
1999 2000 1999 2000
Commercial paper...................................... $ 121,802 $ 327,250 $ – $
Corporate notes and bonds.......................... 205,930 206,556 – –
Corporate equity securities.......................... –53,936 – –
Government bonds..................................... 21,144 19,615 – –
Restricted cash........................................... – – 3,000 3,000
Accrued interest......................................... – – – –
$ 348,876 $ 607,357 $ 3,000 $ 3,000
As of December 31, 2000, marketable investment securities and restricted cash and marketable investment
securities include debt securities of $514 million with contractual maturities of one year or less and $40 million with
contractual maturities between one and five years. Actual maturities may differ from contractual maturities as a
result of EchoStar’s ability to sell these securities prior to maturity.
Fair Value of Financial Instruments
Fair values for EchoStar’s high-yield debt are based on quoted market prices. The fair values of EchoStar’s
mortgages and other notes payable are estimated using discounted cash flow analyses. The interest rates assumed in
such discounted cash flow analyses reflect interest rates currently being offered for loans with similar terms to
borrowers of similar credit quality.
The following table summarizes the book and fair values of EchoStar’s debt facilities at December 31,
1999 and 2000 (in thousands):
December 31, 1999 December 31, 2000
Book Value Fair Value Book Value Fair Value
9 1/4% Seven Year Notes................................ $ 375,000 $ 377,813 $ 375,000 $ 365,625
9 3/8% Ten Year Notes ................................... 1,625,000 1,637,188 1,625,000 1,584,375
4 7/8% Convertible Notes ............................... 1,000,000 1,227,500 1,000,000 750,000
10 3/8% Seven Year Notes.............................. – – 1,000,000 985,000
1994 Notes, 1996 Notes, 1997 Notes,
mortgages and other notes payable............... 52,672 49,853 35,944 35,495