Dish Network 2007 Annual Report Download - page 119

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Table of Contents
ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — Continued
AMC
-15. We make monthly payments to SES Americom to lease all of the capacity on AMC 15, an FSS satellite, which commenced
commercial operation during January 2005. The ten-year satellite service agreement is renewable by us on a year to year basis following the
initial term, and provides us with certain rights to replacement satellites.
AMC
-16. We also make monthly payments to SES Americom to lease all of the capacity on AMC 16, an FSS satellite, which commenced
commercial operation during February 2005. The ten-year satellite service agreement is renewable by us on a year to year basis following the
initial term, and provides us with certain rights to replacement satellites.
As of December 31, 2006 and 2005, we had $551.6 million capitalized for the estimated fair value of satellites acquired under capital leases
included in “Property and equipment, net,” with related accumulated depreciation of $108.5 million and $53.3 million, respectively. In our
Consolidated Statements of Operations and Comprehensive Income (Loss), we recognized $55.2 million and $53.3 million in depreciation
expense on satellites acquired under capital lease agreements during the years ended December 31, 2006 and 2005, respectively. During 2004,
we did not recognize any depreciation on the satellites acquired under these capital leases.
Future minimum lease payments under these capital lease obligations, together with the present value of the net minimum lease payments as of
December 31, 2006 are as follows:
Future maturities of our outstanding long-term debt, including the current portion, are summarized as follows:
6. Income Taxes
As of December 31, 2006, we had net operating loss carryforwards (“NOL’s”) for federal income tax purposes of $1.641 billion and tax
benefits related to credit carryforwards of $41.9 million. We have recorded in 2006, tax benefits for state NOL carryforwards of $26.3 million.
The NOL’s begin to expire in the year 2020 and credit carryforwards will begin to expire in the year 2010.
F-32
For the Year Ending December 31, 2007
$
86,351
2008
86,351
2009
86,351
2010
86,351
2011
86,351
Thereafter
254,374
Total minimum lease payments
686,129
Less: Amount representing lease of the orbital location and estimated executory costs (primarily insurance and maintenance)
including profit thereon, included in total minimum lease payments
(120,660
)
Net minimum lease payments
565,469
Less: Amount representing interest
(160,527
)
Present value of net minimum lease payments
404,942
Less: Current portion
(34,701
)
Long
-
term portion of capital lease obligations
$
370,241
Payments due by period
Total
2007
2008-2009
2010-2011
Thereafter
(In thousands)
Long
-
term debt obligations
$
6,525,000
$
1,000,000
$
1,000,000
$
1,525,000
$
3,000,000
Capital lease obligations, mortgages and other notes
payable
442,321
38,469
87,053
105,593
211,206
Total
$
6,967,321
$
1,038,469
$
1,087,053
$
1,605,593
$
3,236,206