Dish Network 2000 Annual Report Download - page 71

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ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
F–20
Mortgages and Other Notes Payable
Mortgages and other notes payable consists of the following (in thousands):
December 31,
1999 2000
8.25% note payable for satellite vendor financing for EchoStar I due in equal monthly
installments of $722, including interest, through February 2001............................. $ 9,606 $ 2,137
8.25% note payable for satellite vendor financing for EchoStar II due in equal monthly
installments of $562, including interest, through November 2001............................ 11,909 5,930
8.25% note payable for satellite vendor financing for EchoStar III due in equal
monthly installments of $294, including interest, through October 2002.................. 8,645 5,978
8.25% note payable for satellite vendor financing for EchoStar IV due upon resolution
of satellite insurance claim (Note 3) ....................................................................... 9,409 11,327
Mortgages and other unsecured notes payable due in installments through November
2015 with interest rates ranging from 4% to 10%.................................................... 13,103 10,572
Total ........................................................................................................................ 52,672 35,944
Less current portion .................................................................................................. (22,067) (21,132)
Mortgages and other notes payable, net of current portion .......................................... $ 30,605 $ 14,812
Future maturities of EchoStar’s outstanding long-term debt are summarized as follows (in thousands):
9 1/4%
Seven
Year
Notes
9 3/8% Ten
Year Notes
4 7/8%
Convertible
Notes
10 3/8%
Ten Year
Notes
Residual
Notes,
Mortgages
and Other
Notes Payable Total
Year Ending
December 31,
2001 ................... $ – $ – $ – $$ 21,132 $ 21,132
2002 ................... – – – – 7,365 7,365
2003 ................... – – – – 3,033 3,033
2004 ................... – – – – 765 765
2005 ................... – – – – 794 794
Thereafter............ 375,000 1,625,000 1,000,000 1,000,000 2,855 4,002,855
Total....................... $ 375,000 $ 1,625,000 $ 1,000,000 $ 1,000,000 $ 35,944 $ 4,035,944
Satellite Vendor Financing
The purchase price for satellites is required to be paid in progress payments, some of which are non-
contingent payments that are deferred until after the respective satellites are in orbit (satellite vendor financing).
EchoStar utilized $36 million, $28 million, $14 million and $13 million of satellite vendor financing for EchoStar I,
EchoStar II, EchoStar III and EchoStar IV, respectively. The satellite vendor financing with respect to EchoStar I
and EchoStar II is secured by substantially all assets of EDBS and its subsidiaries (subject to certain restrictions) and
a corporate guarantee of ECC. The satellite vendor financings for both EchoStar III and EchoStar IV are secured by
an ECC corporate guarantee.