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YEAR ENDING DECEMBER 31, 2015
ANNUAL REPORT

Table of contents

  • Page 1
    ANNUAL REPORT YEAR ENDING DECEMBER 31, 2015

  • Page 2
    A Nasdaq-100 Company

  • Page 3
    ...retail. During 2015, we took positive steps in that direction. Sling TV debuted as the first, live, linear over-thetop Internet television service. The Sling TV service includes domestic, international and Latino live and on-demand programming and is available through televisions, tablets, computers...

  • Page 4

  • Page 5
    ... file number: 0-26176 TO . DISH Network Corporation (Exact name of registrant as specified in its charter) Nevada (State or other jurisdiction of incorporation or organization) 9601 South Meridian Boulevard Englewood, Colorado (Address of principal executive offices) Registrant's telephone number...

  • Page 6
    .... Directors, Executive Officers and Corporate Governance Executive Compensation Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Certain Relationships and Related Transactions, and Director Independence Principal Accounting Fees and Services PART IV Item...

  • Page 7
    ...satellite television providers, cable companies and telecommunications companies, especially as the pay-TV industry has matured and bundled offers have become more prevalent, which may require us to further increase subscriber acquisition and retention spending or accept lower subscriber activations...

  • Page 8
    ...-attacks or other malicious activities, could disrupt or harm our business. We currently depend on EchoStar Corporation and its subsidiaries, or EchoStar, to design, develop and manufacture substantially all of our new DISH branded pay-TV set-top boxes and certain related components, to provide the...

  • Page 9
    ...video content via the Internet, including our Sling TV services, involves regulatory risk. Changes in the Cable Act of 1992 ("Cable Act"), and/or the rules of the Federal Communications Commission ("FCC") that implement the Cable Act, may limit our ability to access programming from cable-affiliated...

  • Page 10
    ... of the date made, and we expressly disclaim any obligation to update these forwardlooking statements. Unless otherwise required by the context, in this report, the words "DISH Network," the "Company," "we," "our" and "us" refer to DISH Network Corporation and its subsidiaries, "EchoStar" refers to...

  • Page 11
    ..., our owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in our operations. The Sling branded pay-TV services consist of, among...

  • Page 12
    ... Annual Report on Form 10-K for further information. Business Strategy Our business strategy is to be the best provider of video services in the United States by providing products with the best technology, outstanding customer service, and great value. We promote DISH branded programming packages...

  • Page 13
    ...our existing DISH distribution channels, including our DISH direct sales channels, under similar incentive arrangements as our DISH branded pay-TV business to acquire new broadband subscribers. In addition to the dishNET branded satellite broadband service, we also offer wireline voice and broadband...

  • Page 14
    ... services with our DISH branded pay-TV service, to offer customers a single bill, payment and customer service option, which includes a discount for bundled services. In addition, we market and sell our dishNET branded services on a stand-alone basis. New Business Opportunities From time to time...

  • Page 15
    ... to solicit orders for our services and provide customer service. In addition, we partner with certain telecommunications companies to bundle DISH branded programming with broadband and/or voice services on a single bill. Competition As of December 31, 2015, we had 13.897 million Pay-TV subscribers...

  • Page 16
    ... (iii) the customer continuously subscribes to qualified programming. Equipment. We incur significant upfront costs to provide our new DISH branded pay-TV subscribers with in-home equipment, including advanced HD and DVR receivers, which most of our new DISH branded pay-TV subscribers lease from us...

  • Page 17
    ... the returned equipment obsolete. Installation Services. We incur significant upfront costs to install satellite dishes and receivers in the homes of our new DISH branded pay-TV subscribers. New Customer Promotions. We often offer programming at no additional charge and/or promotional pricing during...

  • Page 18
    ... use of other available spectrum. Increasing our available spectrum is particularly important as more bandwidth intensive HD programming is produced and to address new video and data applications consumers may desire in the future. We currently utilize satellites in geostationary orbit approximately...

  • Page 19
    ... Operation of our DISH branded pay-TV service requires that we have adequate satellite transmission capacity for the programming that we offer. Moreover, current competitive conditions require that we continue to expand our offering of new programming. While we generally have had in-orbit satellite...

  • Page 20
    ... relating to video programming, satellite services, wireless telecommunications, broadband, the Internet or other areas of our business could limit or otherwise adversely affect the manner in which we currently conduct our business. If we become subject to new regulations or legislation or new...

  • Page 21
    ... to use new satellites at our existing orbital locations. For example, in October 2014, we filed an application with the FCC to launch and operate a new satellite, EchoStar XVIII, at the 110 degree orbital location, which was granted in March 2015. Generally, our FCC licenses and special temporary...

  • Page 22
    ... below-cost rates and for which we may not impose additional charges on subscribers. The Satellite Television Extension and Localism Act of 2010 ("STELA") required the FCC to decrease this set-aside to 3.5 percent for satellite carriers who provide retransmission of state public affairs networks in...

  • Page 23
    ... accessing cable and satellite programming through the pay-TV operator's products and services, or through products and services offered by a third party. These regulations, if adopted, would have the potential to impose new costs on our DISH branded pay-TV business by, among other things, requiring...

  • Page 24
    ..., to programming from programmers that are affiliated with cable system operators. In addition, any other changes in the Cable Act, and/or the FCC's rules that implement the Cable Act, that currently limit the ability of cable-affiliated programmers to discriminate against competing businesses such...

  • Page 25
    ... treatment of purely Internet-based linear video programming services that cable operators and DBS providers offer in addition to their traditional video services. We cannot predict the timing or outcome of this rulemaking process. FCC Regulation of Wireless Spectrum DISH Network Spectrum 700 MHz...

  • Page 26
    ... June 20, 2016, the AWS-4 Downlink Waiver will terminate, and the Modified AWS-4 Final Build-Out Requirement will revert back to the AWS-4 Final Build-Out Requirement. H Block Licenses. On April 29, 2014, the FCC issued an order granting our application to acquire all 176 wireless spectrum licenses...

  • Page 27
    ...the future make additional filings for the frequency assignments at particular orbital locations that are used or to be used by our current satellite networks and potential future satellite networks we may build or acquire. Our satellite services also must conform to the ITU service plans for Region...

  • Page 28
    ... States government to receive and deliver certain components of direct-to-home satellite television systems. In addition, the delivery of satellites and the supply of certain related ground control equipment, technical services and data, and satellite communication/control services to destinations...

  • Page 29
    ... these offices. WHERE YOU CAN FIND MORE INFORMATION We are subject to the informational requirements of the Exchange Act and accordingly file our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements and other information with the SEC. The public...

  • Page 30
    ...-to-day operations of DISH Network including Customer Acquisition and Retention, Operations, Finance and Accounting, Human Resources, Marketing, Media Sales, Information Technologies, Programming, and Product Management. Mr. Carlson previously served as our Executive Vice President, In-Home Service...

  • Page 31
    ... November 2009 to December 2014. In addition, in July 2012, Mr. Lynch was named Chief Executive Officer of Sling TV Holding L.L.C. Prior to joining DISH Network, Mr. Lynch served as Chairman and CEO of Video Networks International, Ltd., an Internet protocol television ("IPTV") technology company in...

  • Page 32
    ...first-time purchasers of pay-TV services. In addition, because other pay-TV providers may be seeking to attract a greater proportion of their new subscribers from our existing subscriber base, we may be required to increase retention spending or we may provide greater discounts or credits to acquire...

  • Page 33
    ...In addition, traditional cable and satellite television providers have begun, and other companies such as programmers have indicated they also may begin, to offer smaller packages of programming channels directly to customers, at prices lower than our video service package offerings. These offerings...

  • Page 34
    ..., our pay-in-advance subscribers. Lower pay-TV average monthly revenue per subscriber ("Pay-TV ARPU"). Our subscribers may disconnect our services and a growing share of pay-TV customers are "cord shaving" to downgrade to smaller, less expensive programming packages or electing to purchase through...

  • Page 35
    ... video programming service (formerly known as DishWorld). During 2015, we launched our Sling domestic and Sling Latino services. We market our Sling TV services primarily to consumers who do not subscribe to traditional satellite and cable pay-TV services. Our Sling TV services face a number...

  • Page 36
    ...DVR receivers, which are generally more expensive than other receivers. Meanwhile, retention costs may be driven higher by providing retention credits and, with respect to our DISH branded pay-TV services, by increased upgrades of existing subscribers' equipment to HD and DVR receivers. Additionally...

  • Page 37
    .... In addition, increases in programming costs generally cause us to increase the rates that we charge our subscribers, which could in turn cause our existing Pay-TV subscribers to disconnect our service or cause potential new Pay-TV subscribers to choose not to subscribe to our service. Therefore...

  • Page 38
    ...pay-TV providers. Other pay-TV providers may have more successfully marketed and promoted their HD programming packages and value-added services and may also be better equipped and have greater resources to increase their HD offerings and value-added services to respond to increasing consumer demand...

  • Page 39
    ... suitable replacement products and services from third parties. EchoStar is our primary supplier of our DISH branded pay-TV digital set-top boxes and digital broadcast operations. In addition, EchoStar provides the vast majority of our transponder capacity, is a key supplier of related services to...

  • Page 40
    ... depends in part on our ability to offer new DISH branded pay-TV subscribers and upgrade existing subscribers with more advanced equipment, such as receivers with DVR and HD technology and by otherwise making additional infrastructure investments, such as those related to our information technology...

  • Page 41
    ... video services via the Internet, including providing our Sling TV services and what we refer to as "DISH Anywhere." We expect to continue to face increased threats from companies who use the Internet to deliver digital video services as the speed and quality of broadband and wireless networks...

  • Page 42
    ...pay-TV business. Operation of our DISH branded pay-TV service requires that we have adequate satellite transmission capacity for the programming we offer. Moreover, current competitive conditions require that we continue to expand our offering of new programming. While we generally have had in-orbit...

  • Page 43
    ...our ability to utilize these satellites. Construction and launch risks. A key component of our business strategy is our ability to expand our offering of new programming and services for our DISH branded pay-TV business. To accomplish this goal, from time to time, new satellites need to be built and...

  • Page 44
    ... business opportunities that may be suitable for both companies. In addition, certain of our directors and officers own EchoStar stock and options to purchase EchoStar stock. Mr. Ergen owns approximately 30.4% of EchoStar's total equity securities (assuming conversion of all Class B Common Stock...

  • Page 45
    ...voting interest in Sling TV Holding. During 2015, we launched our Sling domestic and Sling Latino services. See Note 19 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K for additional information. x Intercompany agreements with EchoStar. In connection with and...

  • Page 46
    ... Chief Executive Officer, and certain other executives. The loss of Mr. Ergen or of certain other key executives could have a material adverse effect on our business, financial condition and results of operations. Although all of our executives have executed agreements limiting their ability to work...

  • Page 47
    ... June 20, 2016, the AWS-4 Downlink Waiver will terminate, and the Modified AWS-4 Final Build-Out Requirement will revert back to the AWS-4 Final Build-Out Requirement. H Block Licenses. On April 29, 2014, the FCC issued an order granting our application to acquire all 176 wireless spectrum licenses...

  • Page 48
    ...Each of Northstar Wireless and SNR Wireless applied to receive bidding credits of 25% as designated entities under applicable FCC rules. In February 2015, one of our wholly-owned subsidiaries received a refund from the FCC of its $400 million upfront payment made in 2014 related to the AWS-3 Auction...

  • Page 49
    ...date such guaranteed payments are paid, Northstar Wireless' payment obligations to American II under the Northstar Credit Agreement will be subordinated to such guaranteed payments. DISH Network Guaranty in Favor of the FCC for Certain Northstar Wireless Obligations. On October 1, 2015, DISH Network...

  • Page 50
    ... and the date such guaranteed payments are paid, SNR Wireless' payment obligations to American III under the SNR Credit Agreement will be subordinated to such guaranteed payments. DISH Network Guaranty in Favor of the FCC for Certain SNR Wireless Obligations. On October 1, 2015, DISH Network entered...

  • Page 51
    ... applicable accounting guidance, we have consolidated these entities into our financial statements beginning in the fourth quarter 2014. See Note 2 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K for further information. On October 27, 2015, the FCC granted...

  • Page 52
    ... business, financial condition or results of operations. On August 18, 2015, the FCC released the Order in which the FCC determined, among other things, that DISH Network has a controlling interest in, and is an affiliate of, Northstar Wireless and SNR Wireless, and therefore DISH Network's revenues...

  • Page 53
    ...greater proportion of new subscribers from each other's existing subscriber bases rather than from first-time purchasers of wireless services. Furthermore, the cost of attracting a new customer is generally higher than the cost associated with retaining an existing customer. In addition, we may face...

  • Page 54
    ... us, directly or through other suppliers, with infrastructure, equipment and services, such as switch and network equipment, handsets and other devices and equipment that we would need in order to operate a wireless services business and provide products and services to our customers. For example...

  • Page 55
    ... systems and procedures. New acquisitions, joint ventures and other transactions may require the commitment of significant capital that would otherwise be directed to investments in our existing business. To pursue acquisitions and other strategic transactions, we may need to raise additional...

  • Page 56
    ...and plan future business activities because we may not have access to funding sources necessary for us to pursue organic and strategic business development opportunities. See "We have made substantial investments to acquire certain wireless spectrum licenses and other related assets. In addition, we...

  • Page 57
    ... shares to persons friendly to current management, thereby protecting the continuity of its management, or which could be used to dilute the stock ownership of persons seeking to obtain control of us. We are controlled by one principal stockholder who is also our Chairman and Chief Executive Officer...

  • Page 58
    ... to market or promote its goods or services for five years, and enjoin DISH Network L.L.C. from accepting activations or sales from certain existing independent third-party retailers and from certain new independent third-party retailers, except under certain circumstances. We also filed a motion...

  • Page 59
    ... through our Sling TV services, we are increasingly distributing video content to our subscribers via the Internet and through our Sling TV services. The ability to continue this strategy may depend in part on the FCC's success in implementing rules prohibiting paid prioritization and blocking...

  • Page 60
    ..., to programming from programmers that are affiliated with cable system operators. In addition, any other changes in the Cable Act, and/or the FCC's rules that implement the Cable Act, that currently limit the ability of cable-affiliated programmers to discriminate against competing businesses such...

  • Page 61
    ... relating to video programming, satellite services, wireless telecommunications, broadband, the Internet or other areas of our business could limit or otherwise adversely affect the manner in which we currently conduct our business, including our Sling TV services. If we become subject to new...

  • Page 62
    ...(s) Using Property DISH/Wireless DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH DISH Leased From Other EchoStar (1) Third Party X X X Description/Use/Location Corporate headquarters, Englewood, Colorado Customer call center and general offices, Roseland, New...

  • Page 63
    ... Market Price of and Dividends on the Registrant's Common Equity and Related Stockholder Matters Market Information. Our Class A common stock is quoted on the Nasdaq Global Select Market under the symbol "DISH." The high and low closing sale prices of our Class A common stock during 2015 and 2014...

  • Page 64
    ... of our Class A common stock made by us for the period from October 1, 2015 through December 31, 2015. Total Number of Maximum Approximate Shares Purchased Dollar Value of Shares Average as Part of Publicly that May Yet be Price Paid Announced Plans Purchased Under the per Share or Programs Plans or...

  • Page 65
    ...) Pay-TV subscriber additions, gross (in millions) Pay-TV subscriber additions (losses), net (in millions) Pay-TV average monthly subscriber churn rate Pay-TV average subscriber acquisition cost per subscriber ("Pay-TV SAC") Pay-TV average monthly revenue per subscriber ("Pay-TV ARPU") Broadband...

  • Page 66
    ...revenue from equipment rental fees and other hardware related fees, including fees for DVRs, fees for broadband equipment, equipment upgrade fees and additional outlet fees from subscribers with receivers with multiple tuners; advertising services; and fees earned from our in-home service operations...

  • Page 67
    ..., each available for an additional monthly fee. Sling TV programming is offered live and on-demand and can be replayed as programming rights permit. On June 4, 2015, we also launched our Sling Latino service. All Sling TV subscribers are included in our Pay-TV subscriber count. Wireless DISH Network...

  • Page 68
    ... price of video services with the price of broadband and/or wireless services. We incur significant costs to retain our existing DISH branded pay-TV customers, mostly as a result of upgrading their equipment to HD and DVR receivers and by providing retention credits. Our subscriber retention costs...

  • Page 69
    ... movies, resulting in less revenue to us. We implement new marketing promotions from time to time that are intended to increase our gross new Pay-TV subscriber activations. During 2015 and early 2016, we launched various marketing promotions offering certain DISH branded pay-TV programming packages...

  • Page 70
    ... Pay-TV and broadband services incurred in connection with our in-home service and call center operations, billing costs, refurbishment and repair costs related to DBS receiver systems and broadband equipment, subscriber retention, other variable subscriber expenses and monthly wholesale fees paid...

  • Page 71
    ... costs for Sling TV subscribers are lower than those for DISH branded pay-TV subscribers. General and administrative expenses. "General and administrative expenses" consists primarily of employee-related costs associated with administrative services such as legal, information systems, accounting...

  • Page 72
    ... Sling TV subscribers receiving service for no charge, under certain new subscriber promotions, are excluded from our Pay-TV subscriber count. Sling TV subscribers are reported net of disconnects in our gross new Pay-TV subscriber activations. For customers who subscribe to both our DISH branded pay...

  • Page 73
    ... OF OPERATIONS Year Ended December 31, 2015 Compared to the Year Ended December 31, 2014. Statements of Operations Data Revenue: Subscriber-related revenue Equipment sales and other revenue Total revenue Costs and Expenses: Subscriber-related expenses % of Subscriber-related revenue Satellite and...

  • Page 74
    ... retention efforts, bundled discount offers combining broadband, video and/or wireless services and other discounted promotional offers. Furthermore, our gross new Pay-TV subscriber activations were negatively impacted by programming interruptions in connection with the scheduled expiration of...

  • Page 75
    ...programming package price increases in February 2015 and 2014 and higher hardware related revenue. These increases were partially offset by a shift in DISH branded pay-TV programming package mix, an increase in retention credits and an increase in Sling TV subscribers. Sling TV subscribers generally...

  • Page 76
    ...equipment leased to new and existing DISH branded pay-TV subscribers and from certain assets that support the DISH branded pay-TV service, which became fully depreciated during 2015. In addition, depreciation expense was lower in 2015 as a result of certain satellites transferred to EchoStar as part...

  • Page 77
    ... 2014 was favorably impacted by tax planning strategies related to the tax structure of certain foreign legal entities. During 2015, our effective tax rate was positively impacted by a $63 million credit that was previously recorded in "Accumulated other comprehensive income (loss)" and was released...

  • Page 78
    ... to DISH Network Other Data: Pay-TV subscribers, as of period end (in millions) Pay-TV subscriber additions, gross (in millions) Pay-TV subscriber additions (losses), net (in millions) Pay-TV average monthly subscriber churn rate ("Pay-TV churn rate") Pay-TV average subscriber acquisition cost per...

  • Page 79
    ... aggressive marketing and discounted promotional offers. Our Pay-TV churn rate is also impacted by, among other things, the credit quality of previously acquired subscribers, our ability to consistently provide outstanding customer service, price increases, programming interruptions in connection...

  • Page 80
    ...from equipment leased primarily to new and existing subscribers with new Hopper receiver systems, partially offset by a decrease in depreciation expense related to certain satellites transferred to EchoStar as part of the Satellite and Tracking Stock Transaction. The year ended December 31, 2013 was...

  • Page 81
    ... 31, 2014 compared to $300 million in 2013. This change was primarily attributable to a decrease in our effective tax rate, partially offset by an increase in "Income (loss) before income taxes." Our effective tax rate during 2014 was favorably impacted by tax planning strategies related to the...

  • Page 82
    ... our cash flow activities during the years ended December 31, 2015, 2014 and 2013. Adjusted Free Cash Flow We define adjusted free cash flow as "Net cash flows from operating activities from continuing operations" less "Purchases of property and equipment," and "Capitalized interest related to FCC...

  • Page 83
    ... expenditures for equipment under our lease programs for new and existing DISH branded pay-TV and Broadband subscribers and in satellite construction, partially offset by an increase in capitalized interest related to FCC authorizations. The increase in "Net cash flows from operating activities from...

  • Page 84
    ... dividends paid on our Class A and Class B common stock and repurchases of our Class A common stock. For the year ended December 31, 2015, we reported "Net cash outflows from financing activities from continuing operations" of $413 million. For the years ended December 31, 2014 and 2013, we reported...

  • Page 85
    ... Pay-TV services over longer periods of time. Our subscriber acquisition costs may vary significantly from period to period. We incur significant costs to retain our existing DISH branded pay-TV customers, mostly by upgrading their equipment to HD and DVR receivers and by providing retention credits...

  • Page 86
    Security Systems Increases in theft of our signal or our competitors' signals could, in addition to reducing gross new subscriber activations, also cause subscriber churn to increase. We use Security Access Devices in our DBS receiver systems to control access to authorized programming content. Our ...

  • Page 87
    ... Our 2016 purchase obligations primarily consist of binding purchase orders for receiver systems and related equipment, broadband equipment, digital broadcast operations, transmission costs, engineering services, and other products and services related to the operation of our Pay-TV services and...

  • Page 88
    ... purchase of additional wireless spectrum licenses discussed below, are expected to be driven by the costs associated with subscriber premises equipment and capital expenditures for our satellite-related obligations. These expenditures are necessary to operate and maintain our Pay-TV services...

  • Page 89
    ...- DISH Network Non-Controlling Investments in the Northstar Entities and the SNR Entities Related to AWS-3 Wireless Spectrum Licenses" in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K for further information. We may need to raise significant additional capital...

  • Page 90
    ... Income (Loss). For example, if we had decreased the estimated useful life of our capitalized subscriber equipment by one year, annual 2015 depreciation expense would have increased by approximately $95 million. Accounting for investments in private and publicly-traded securities. We hold debt and...

  • Page 91
    ...future cash flows, discounted at a rate commensurate with the risk involved or the market approach. x x x Inflation Inflation has not materially affected our operations during the past three years. We believe that our ability to increase the prices charged for our products and services in future...

  • Page 92
    ...FASB") issued Accounting Standards Update 2014-09 ("ASU 2014-09"), Revenue from Contracts with Customers. This converged standard on revenue recognition was issued jointly with the International Accounting Standards Board ("IASB") to improve financial reporting by creating common revenue recognition...

  • Page 93
    ... held in our strategic marketable investment securities portfolio are not significantly impacted by interest rate fluctuations as their value is more closely related to factors specific to the underlying business. A hypothetical 10% adverse change in the price of our public strategic debt and equity...

  • Page 94
    ... 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE Not applicable. Item 9A. CONTROLS AND PROCEDURES Disclosure controls and procedures Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial...

  • Page 95
    ...KPMG LLP, an independent registered public accounting firm, as stated in their report which appears in Item 15(a) of this Annual Report on Form 10-K. Item 9B. OTHER INFORMATION None PART III Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE The information required by this Item will be...

  • Page 96
    ...as part of this report: (1) Financial Statements Page Report of KPMG LLP, Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 31, 2015 and 2014 Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2015, 2014 and 2013...

  • Page 97
    ... 8-K of DISH Network Corporation filed November 21, 2014, Commission File No. 0-26176). 2002 Class B CEO Stock Option Plan (incorporated by reference to Appendix A to DISH Network Corporation's Definitive Proxy Statement on Schedule 14A dated April 9, 2002). ** Satellite Service Agreement, dated as...

  • Page 98
    ... 0-26176). *** Third Amendment to Whole RF Channel Service Agreement, dated October 12, 2004, between Telesat Canada and DISH Network Corporation (incorporated by reference to Exhibit 10.22 to the Annual Report on Form 10-K of DISH Network Corporation for the year ended December 31, 2004, Commission...

  • Page 99
    ... 99.2 to the Current Report on Form 8-K of DISH Network Corporation filed July 7, 2005, Commission File No. 0-26176). ** Restricted Stock Unit Agreement (Form A) (incorporated by reference to Exhibit 99.3 to the Current Report on Form 8-K of DISH Network Corporation filed July 7, 2005, Commission...

  • Page 100
    ... and Restated Investment Agreement, dated as of March 15, 2011, between DISH Network Corporation and DBSD North America, Inc. (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K of ICO Global Communications (Holdings) Limited filed March 17, 2011, Commission File No. 001...

  • Page 101
    ... of the 2013 Long-Term Incentive Plan dated November 30, 2012 (incorporated by reference to the Current Report on Form 8-K of DISH Network Corporation filed December 6, 2012, Commission File No. 000-26176). ** Amendment to EchoStar XVI Satellite Capacity Agreement between EchoStar Satellite Services...

  • Page 102
    ... to Exhibit 10.5 to the Quarterly Report on Form 10-Q of DISH Network Corporation for the quarter ended March 31, 2015, Commission File No. 026176). *** Management Services Agreement dated September 12, 2014, between American AWS-3 Wireless III L.L.C. and SNR Wireless LicenseCo, LLC (incorporated by...

  • Page 103
    ...Communications Commission (SNR Wireless) (incorporated by reference to Exhibit 10.4 to the Current Report on Form 8-K of DISH Network Corporation filed October 2, 2015, Commission File No. 0-26176). Second Amendment to Receiver Agreement dated November 4, 2015, between Echosphere L.L.C. and EchoStar...

  • Page 104
    ... undersigned, thereunto duly authorized. DISH NETWORK CORPORATION By: /s/ Steven E. Swain Steven E. Swain Senior Vice President and Chief Financial Officer Date: February 18, 2016 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following...

  • Page 105
    ...: Page Report of KPMG LLP, Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 31, 2015 and 2014 Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2015, 2014 and 2013 Consolidated Statements of Changes in...

  • Page 106
    ... sheets of DISH Network Corporation and subsidiaries (the Company) as of December 31, 2015 and 2014, and the related consolidated statements of operations and comprehensive income (loss), changes in stockholders' equity (deficit), and cash flows for each of the years in the three-year period ended...

  • Page 107
    DISH NETWORK CORPORATION CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share amounts) As of December 31, 2015 2014 Assets Current Assets: Cash and cash equivalents Marketable investment securities Trade accounts receivable, net of allowance for doubtful accounts of $22,167 and $23,603, ...

  • Page 108
    DISH NETWORK CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Dollars in thousands, except per share amounts) For the Years Ended December 31, 2014 2013 $ 14,495,091 148,296 14,643,387 $ 13,764,774 140,091 13,904,865 2015 Revenue: Subscriber-related revenue ...

  • Page 109
    ... to DISH Network Balance, December 31, 2013 Issuance of Class A common stock: Exercise of stock awards Employee benefits Employee Stock Purchase Plan Non-cash, stock-based compensation Income tax (expense) benefit related to stock awards and other Change in unrealized holding gains (losses) on...

  • Page 110
    ... 31, 2014 Issuance of Class A common stock: Exercise of stock awards Employee benefits Employee Stock Purchase Plan Non-cash, stock-based compensation Income tax (expense) benefit related to stock awards and other Change in unrealized holding gains (losses) on availablefor-sale securities, net...

  • Page 111
    ... losses (gains) on investments Non-cash, stock-based compensation Deferred tax expense (benefit) Change in long-term deferred revenue, distribution and carriage payments and other long-term liabilities Other, net Changes in current assets and current liabilities, net Trade accounts receivable...

  • Page 112
    ..., our owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in our operations. The Sling branded pay-TV services consist of, among...

  • Page 113
    ... Interests Sling TV. Sling TV Holding L.L.C. ("Sling TV Holding," formerly known as DISH Digital Holding L.L.C.) has been consolidated into our financial statements since July 1, 2012. Effective August 1, 2014, EchoStar Corporation ("EchoStar") and Sling TV Holding entered into an exchange agreement...

  • Page 114
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued in redemption value above the initial fair value (adjusted for the operating results of Sling TV Holding attributable to EchoStar subsequent to August 1, 2014), with the offset recorded in "Additional paid-in capital," ...

  • Page 115
    ...December 31, 2015 and 2014 may consist of money market funds, government bonds, corporate notes and commercial paper. The cost of these investments approximates their fair value. Marketable Investment Securities We currently classify all marketable investment securities as available-for-sale, except...

  • Page 116
    ..., even if there is no intent to sell the security. In general, we use the first in, first out method to determine the cost basis on sales of marketable investment securities. Trade Accounts Receivable Management estimates the amount of required allowances for the potential non-collectability of...

  • Page 117
    ... value as of June 30, 2013 and recorded a $438 million impairment charge on our Consolidated Statements of Operations and Comprehensive Income (Loss). For the year ended December 31, 2015, we further wrote down the net book value of the D1 satellite and related ground equipment to its fair value as...

  • Page 118
    ... orbital locations, including revenue attributable to programming offerings from such satellites, the direct operating and subscriber acquisition costs related to such programming, and future capital costs for replacement satellites. Projected revenue and cost amounts included projected subscribers...

  • Page 119
    ... current period accounting policy. This change has no effect on our Consolidated Statements of Operations and Comprehensive Income (Loss) or on "Total stockholders' equity (deficit)" on our Consolidated Balance Sheets. Business Combinations When we acquire a business, we allocate the purchase price...

  • Page 120
    ...for our publicly traded debt securities are based on quoted market prices, when available. The fair values of private debt are estimated based on an analysis in which we evaluate market conditions, related securities, various public and private offerings, and other publicly available information. In...

  • Page 121
    ...our existing and new subscriber promotions include programming discounts. Programming revenues are recorded as earned at the discounted monthly rate charged to the subscriber. We offer our customers the opportunity to download movies for a specific viewing period or permanently purchase a movie from...

  • Page 122
    ... and other equipment necessary to receive broadband services. Equipment leased to new and existing DISH branded pay-TV and Broadband subscribers is capitalized and depreciated over their estimated useful lives. New Accounting Pronouncements Revenue from Contracts with Customers. On May 28, 2014, the...

  • Page 123
    ... to DISH Network $ Diluted net income (loss) per share from discontinued operations $ Diluted net income (loss) per share attributable to DISH Network As of December 31, 2015, 2014 and 2013, there were stock awards to acquire 0.7 million, 0.4 million and 0.7 million shares, respectively, of Class...

  • Page 124
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued Vesting of options and rights to acquire shares of our Class A common stock granted pursuant to our performance based stock incentive plans ("Restricted Performance Units") is contingent upon meeting certain goals, some ...

  • Page 125
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued 5. Other Comprehensive Income (Loss) The following table presents the tax effect on each component of "Other comprehensive income (loss)." 2015 Tax (Expense) Benefit (1) For the Years Ended December 31, 2014 Before Tax ...

  • Page 126
    ...classified as available-for-sale, except as specified below. See Note 2 for further information. Current Marketable Investment Securities - Strategic Our current strategic marketable investment securities portfolio includes strategic and financial debt and equity investments in public companies that...

  • Page 127
    ...over the Hughes Retail Group business, and currently there is no public market for the Tracking Stock. As such, the Tracking Stock is accounted for under the cost method of accounting. On February 20, 2014, DISH Operating L.L.C. ("DOLLC") and DISH Network L.L.C. ("DNLLC"), each indirect wholly-owned...

  • Page 128
    ... Agreement generally will terminate with respect to our interest should we no longer hold any shares of the HSSC-issued Tracking Stock and any registrable securities under the Investor Rights Agreement. Unrealized Gains (Losses) on Marketable Investment Securities As of December 31, 2015 and 2014...

  • Page 129
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued Therefore, we believe that these changes in the estimated fair values of these marketable investment securities are related to temporary market fluctuations. As of December 31, 2015 Fair Value Debt Securities: Less than ...

  • Page 130
    ... gains (losses) on investments accounted for using the Fair Value Option Derivative financial instruments - net realized and/or unrealized gains (losses) Marketable investment securities - other-than-temporary impairments Other Total $ For the Years Ended December 31, 2015 2014 2013 (In thousands...

  • Page 131
    ...: Depreciable Life (In Years) Equipment leased to customers EchoStar XV D1 T1 Satellites acquired under capital lease agreements Furniture, fixtures, equipment and other Buildings and improvements Land Construction in progress Total property and equipment Accumulated depreciation Property and...

  • Page 132
    ... in 2014 as a result of the Satellite and Tracking Stock Transaction. See Note 6 and Note 19 for further information. (2) During 2013, we ceased operations of our TerreStar Mobile Satellite Service ("MSS") business, which had less than 2,000 customers and had less than $1 million in revenue. As...

  • Page 133
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued Satellites Pay-TV Satellites. We currently utilize 12 satellites in geostationary orbit approximately 22,300 miles above the equator, one of which we own and depreciate over its estimated useful life. We currently ...

  • Page 134
    ... fourth quarter 2014, EchoStar purchased our rights to the T2 satellite for $55 million. See Note 19 for further information. Degree Orbital Location 111.1 92.85 Estimated Useful Life (Years) 15 N/A Satellites Owned: T1 D1 Launch Date July 2009 April 2008 GAAP requires that a long-lived asset be...

  • Page 135
    ... Operation of our DISH branded pay-TV service requires that we have adequate satellite transmission capacity for the programming that we offer. Moreover, current competitive conditions require that we continue to expand our offering of new programming. While we generally have had in-orbit satellite...

  • Page 136
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued Estimated future amortization of our identifiable intangible assets as of December 31, 2015 is as follows (in thousands): For the Years Ended December 31, 2016 2017 2018 2019 2020 Thereafter Total Goodwill The excess of ...

  • Page 137
    ... charges of $19 million related to exiting the business, which was recorded in "Income (loss) from discontinued operations, net of tax" on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2013. On January 14, 2014, we completed the sale...

  • Page 138
    ... leases is not required. We estimated the fair value of our publicly traded long-term debt using market prices in less active markets (Level 2). Our Senior Notes are: x x x general unsecured senior obligations of DISH DBS Corporation ("DISH DBS"); ranked equally in right of payment with all of DISH...

  • Page 139
    ... transactions with affiliates; merge or consolidate with another company; and transfer or sell assets. In the event of a change of control, as defined in the related indentures, we would be required to make an offer to repurchase all or any part of a holder's Senior Notes at a purchase price equal...

  • Page 140
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued 5 1/8% Senior Notes due 2020 On April 5, 2013, we issued $1.1 billion aggregate principal amount of our seven-year 5 1/8% Senior Notes due May 1, 2020. Interest accrues at an annual rate of 5 1/8% and is payable semi-...

  • Page 141
    ...2008 and commenced commercial operation during February 2009. This satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement. We have leased 100% of the capacity on Ciel II for an initial 10 year term. As of December 31, 2015 and 2014, we had $500...

  • Page 142
    ... of the net minimum lease payments as of December 31, 2015 are as follows (in thousands): For the Years Ended December 31, 2016 2017 2018 2019 2020 Thereafter Total minimum lease payments Less: Amount representing lease of the orbital location and estimated executory costs (primarily insurance and...

  • Page 143
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued The components of the (benefit from) provision for income taxes were as follows: For the Years Ended December 31, 2015 2014 2013 (In thousands) Current (benefit) provision: Federal State Foreign Total from continuing ...

  • Page 144
    ...liquidated. During the first quarter 2015, this specific available-for-sale security portfolio was liquidated and the $63 million credit that was previously recorded in "Accumulated other comprehensive income (loss)" was released to "Income tax (provision) benefit, net." Deferred taxes arise because...

  • Page 145
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued Accounting for Uncertainty in Income Taxes In addition to filing federal income tax returns, we and one or more of our subsidiaries file income tax returns in all states that impose an income tax and a small number of ...

  • Page 146
    ...price of the Class A common stock on the last business day of each calendar quarter in which such shares of Class A common stock are deemed sold to an employee under the ESPP. During the years ended December 31, 2015, 2014 and 2013, employee purchases of Class A common stock through the ESPP totaled...

  • Page 147
    ... upon the achievement of certain company-specific subscriber, operational and/or financial goals. As of December 31, 2015, we had 69.0 million shares of our Class A common stock available for future grant under our stock incentive plans. On December 28, 2012, we paid a dividend in cash of $1.00 per...

  • Page 148
    ...31, 2015 DISH Network Awards EchoStar Awards Restricted Restricted Stock Stock Stock Stock Options Units Options Units 6,807,169 1,382,250 44,548 - 38,516 - N/A N/A 6,845,685 1,382,250 44,548 - Stock Awards Outstanding Held by DISH Network employees Held by EchoStar employees Total Exercise prices...

  • Page 149
    ...restricted stock unit activity was as follows: For the Years Ended December 31, 2015 2014 2013 WeightedWeightedWeightedRestricted Average Restricted Average Restricted Average Stock Grant Date Stock Grant Date Stock Grant Date Units Fair Value Units Fair Value Units Fair Value Total restricted stock...

  • Page 150
    ... expense for the years ended December 31, 2015, 2014 and 2013, as indicated in the table below titled "Non-Cash, Stock-Based Compensation Expense Recognized." Given the competitive nature of our business, small variations in subscriber churn, gross new subscriber activation rates and certain other...

  • Page 151
    ...based stock incentive plans: As of December 31, 2015 WeightedNumber of Average Awards Grant Price 1,564,500 $ 42.63 2,340,000 $ 18.27 3,904,500 $ 28.03 Performance Based Stock Options 2013 LTIP Other employee performance awards Total Restricted Performance Units 2013 LTIP Other employee performance...

  • Page 152
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued Stock-Based Compensation During the year ended December 31, 2013, we incurred an initial charge related to vested options of $5 million of additional non-cash, stock-based compensation expense in connection with the 2012...

  • Page 153
    ...700 MHz") wireless spectrum licenses, which were granted to us by the FCC in February 2009. At the time they were granted, these licenses were subject to certain interim and final build-out requirements. On October 29, 2013, the FCC issued an order approving a voluntary industry solution to resolve...

  • Page 154
    ... June 20, 2016, the AWS-4 Downlink Waiver will terminate, and the Modified AWS-4 Final Build-Out Requirement will revert back to the AWS-4 Final Build-Out Requirement. H Block Licenses. On April 29, 2014, the FCC issued an order granting our application to acquire all 176 wireless spectrum licenses...

  • Page 155
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued other wireless service providers. For example, on February 10, 2016, we filed an application with the FCC to potentially participate as a bidder in the upcoming Auction 1000. Auction 1000 is scheduled to begin on March ...

  • Page 156
    ...date such guaranteed payments are paid, Northstar Wireless' payment obligations to American II under the Northstar Credit Agreement will be subordinated to such guaranteed payments. DISH Network Guaranty in Favor of the FCC for Certain Northstar Wireless Obligations. On October 1, 2015, DISH Network...

  • Page 157
    ... and the date such guaranteed payments are paid, SNR Wireless' payment obligations to American III under the SNR Credit Agreement will be subordinated to such guaranteed payments. DISH Network Guaranty in Favor of the FCC for Certain SNR Wireless Obligations. On October 1, 2015, DISH Network entered...

  • Page 158
    ...STATEMENTS - Continued FCC SNR Guaranty and the date such guaranteed payments are paid: (i) SNR Wireless' payment obligations to American III under the SNR Credit Agreement will be subordinated to such guaranteed payments; and (ii) DISH Network or American III will withhold exercising certain rights...

  • Page 159
    ... Our 2016 purchase obligations primarily consist of binding purchase orders for receiver systems and related equipment, broadband equipment, digital broadcast operations, transmission costs, engineering services, and other products and services related to the operation of our Pay-TV services and...

  • Page 160
    ...resolved; and/or (vi) there are novel legal issues or unsettled legal theories to be presented or a large number of parties (as with many patentrelated cases). For these cases, however, management does not believe, based on currently available information, that the outcomes of these proceedings will...

  • Page 161
    ... October 1, 2013, the California Institute of Technology ("Caltech") filed complaints against us and our whollyowned subsidiaries DISH Network L.L.C. and dishNET Satellite Broadband L.L.C., as well as Hughes Communications, Inc. and Hughes Network Systems, LLC, which are subsidiaries of EchoStar, in...

  • Page 162
    ... patent is entitled "System for Data Management And On-Demand Rental And Purchase Of Digital Data Products." Customedia appears to allege infringement in connection with our addressable advertising services, our DISH Anywhere feature, and our Pay-Per-View and video-on-demand offerings. We intend to...

  • Page 163
    ..., 2013, Dragon Intellectual Property, LLC ("Dragon IP") filed complaints against our whollyowned subsidiary DISH Network L.L.C., as well as Apple Inc.; AT&T, Inc.; Charter Communications, Inc.; Comcast Corp.; Cox Communications, Inc.; DirecTV; Sirius XM Radio Inc.; Time Warner Cable Inc. and Verizon...

  • Page 164
    ..., 2012, our wholly-owned subsidiary, DISH Network L.L.C., filed a lawsuit in the United States District Court for the Southern District of New York against American Broadcasting Companies, Inc.; CBS Corporation; Fox Entertainment Group, Inc.; Fox Television Holdings, Inc.; Fox Cable Network Services...

  • Page 165
    ... be comparable in quality or cost to our existing programming. Loss of access to existing programming could have a material adverse effect on our business, financial condition and results of operations, including, among other things, our gross new subscriber activations and subscriber churn rate. We...

  • Page 166
    ... disclosed in our public filings, L-Band Acquisition, LLC ("LBAC"), our wholly-owned subsidiary, entered into a Plan Support Agreement (the "PSA") with certain senior secured lenders to LightSquared LP (the "LightSquared LP Lenders") on July 23, 2013, which contemplated the purchase by LBAC of...

  • Page 167
    DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued granted Harbinger's unopposed motion to dismiss the appeal with prejudice. The Colorado matter is now concluded. On July 21, 2015, Harbinger filed a substantially similar complaint against us, LBAC, Mr. Ergen, SPSO, and ...

  • Page 168
    ... the action. In an order entered on September 18, 2015, the Court granted the Special Litigation Committee's motion to defer to the Special Litigation Committee's October 24, 2014 report, including its finding that dismissal of the action is in the best interest of the Company. The Court also held...

  • Page 169
    ... Offer Communications"; 8,234,184 entitled "Automated Reply Generation Direct Marketing System"; and 6,999,938 entitled "Automated Reply Generation Direct Marketing System." Phoenix alleged that we infringe the asserted patents by making and using products and services that generate customized...

  • Page 170
    ... Beta LLC On June 30, 2014, TQ Beta LLC ("TQ Beta") filed a complaint against us; our wholly-owned subsidiaries DISH DBS Corporation and DISH Network L.L.C.; EchoStar; and EchoStar's subsidiaries EchoStar Technologies L.L.C., Hughes Satellite Systems Corporation, and Sling Media Inc., in the United...

  • Page 171
    ... measure used by our chief operating decision maker to evaluate segment operating performance. We currently operate two primary business segments, DISH and Wireless. See Note 1 for further information. All other and eliminations primarily include intersegment eliminations related to intercompany...

  • Page 172
    ... regions based upon the location where the products are delivered and services are provided. All revenue from continuing operations was derived from the United States. 17. Valuation and Qualifying Accounts Our valuation and qualifying accounts as of December 31, 2015, 2014 and 2013 were as follows...

  • Page 173
    ... of $123 million. 19. Related Party Transactions Related Party Transactions with EchoStar Following the Spin-off, we and EchoStar have operated as separate publicly-traded companies, and, except for the Satellite and Tracking Stock Transaction and Sling TV Holding described below, neither entity has...

  • Page 174
    ... in "Trade accounts payable" on our Consolidated Balance Sheets. "Equipment sales and other revenue" During the years ended December 31, 2015, 2014 and 2013, we received $46 million, $62 million and $45 million, respectively, for equipment sales, services and other revenue from EchoStar. These...

  • Page 175
    ..., but not the obligation, to purchase certain broadband equipment from HNS to support the sale of the Service. As part of the Satellite and Tracking Stock Transaction, on February 20, 2014, dishNET Satellite Broadband and HNS amended the Distribution Agreement which, among other things, extended...

  • Page 176
    ... by EchoStar. The fees for the services provided under these satellite capacity agreements depend, among other things, upon the orbital location of the applicable satellite, the number of transponders that are leased on the applicable satellite and the length of the lease. See "Pay-TV Satellites" in...

  • Page 177
    ... receive service on all 32 DBS transponders on the Nimiq 5 satellite at the 72.7 degree orbital location (the "Telesat Transponder Agreement"). During 2009, EchoStar also entered into a satellite service agreement (the "DISH Nimiq 5 Agreement") with us, pursuant to which we currently receive service...

  • Page 178
    ... 103 degree orbital location (the "103 Service Agreement"). During June 2013, we and EchoStar entered into an agreement pursuant to which we lease certain satellite capacity from EchoStar on the SES-3 satellite (the "DISH 103 Service Agreement"). Under the terms of the DISH 103 Service Agreement, we...

  • Page 179
    ..., to receive certain services from us and EchoStar; and (3) has a license from EchoStar to use certain of the assets distributed to EchoStar as part of the Exchange Agreement. Sling TV Holding operates, through its subsidiary Sling TV L.L.C., the Sling TV services. Since the Exchange Agreement is...

  • Page 180
    .... The fees for the services provided under the XiP Encryption Agreement are calculated on a monthly basis based on the number of receivers utilizing such security measures each month. Sling Trademark License Agreement. On December 31, 2014, Sling TV L.L.C. entered into an agreement with Sling Media...

  • Page 181
    ... audit, legal, accounting and tax, benefits administration, program acquisition services and other support services. Additionally, we and EchoStar agreed that we shall continue to have the right, but not the obligation, to engage EchoStar to manage the process of procuring new satellite capacity for...

  • Page 182
    ...allocation of liability relating to EchoStar's sales of DVR-enabled receivers to an international customer. Future payments will be allocated between us and EchoStar based on historical sales of certain licensed products, with us being responsible for 95% of each annual payment. Patent Cross-License...

  • Page 183
    ... years ended December 31, 2014 and 2013, we received payments from EchoStar of approximately $13 million and $35 million, respectively, under the Amended and Restated T2 Development Agreement to reimburse us for amounts paid to SS/L. In exchange, we granted EchoStar the right and option to purchase...

  • Page 184
    ... of the Tracking Stock. The Investor Rights Agreement generally will terminate as to the DISH Investors at such time as the DISH Investors no longer hold any shares of the HSSC-issued Tracking Stock and any registrable securities under the Investor Rights Agreement. PMC. During 2008, PMC filed suit...

  • Page 185
    ... and related security systems intended to assure that only authorized customers have access to our programming. These expenses are recorded in "Subscriber-related expenses" on our Consolidated Statements of Operations and Comprehensive Income (Loss). We record all payables in "Trade accounts payable...

  • Page 186
    ... of 5 Year Cumulative Total Return Assumes Initial Investment of $100 December 2015 450.00 400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 2010 2011 DISH Network Corp 2012 2013 2014 Peer Group 2015 NASDAQ Composite-Total Returns Total Return Analysis DISH Network Corporation NASDAQ...

  • Page 187
    ..., Corporate Development James DeFranco Executive Vice President R. Stanton Dodge Executive Vice President, General Counsel & Secretary Bernard L. Han Executive Vice President, Strategic Planning Vivek Khemka Executive Vice President & Chief Technology Officer Roger J. Lynch CEO, Sling TV Holding...

  • Page 188
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