Dish Network 2015 Annual Report Download - page 138
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DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-34
10. Long-Term Debt and Capital Lease Obligations
Fair Value of our Long-Term Debt
The following table summarizes the carrying and fair values of our debt facilities as of December 31, 2015 and
2014:
As of December 31,
2015 2014
Carrying
Value Fair Value
Carrying
Value Fair Value
(In thousands)
7 3/4% Senior Notes due 2015 (1) $ — $ — $ 650,001 $ 664,321
7 1/8% Senior Notes due 2016 (2) 1,500,000 1,506,750 1,500,000 1,580,625
4 5/8% Senior Notes due 2017 900,000 922,770 900,000 933,750
4 1/4% Senior Notes due 2018 1,200,000 1,207,560 1,200,000 1,245,600
7 7/8% Senior Notes due 2019 1,400,000 1,525,440 1,400,000 1,589,700
5 1/8% Senior Notes due 2020 1,100,000 1,100,000 1,100,000 1,100,000
6 3/4% Senior Notes due 2021 2,000,000 2,021,020 2,000,000 2,157,500
5 7/8% Senior Notes due 2022 2,000,000 1,889,780 2,000,000 2,055,000
5% Senior Notes due 2023 1,500,000 1,297,500 1,500,000 1,470,000
5 7/8% Senior Notes due 2024 2,000,000 1,765,000 2,000,000 2,019,800
Other notes payable 30,996 30,996 34,084 34,084
Subtotal 13,630,996 $ 13,266,816 14,284,085 $ 14,850,380
Unamortized deferred financing costs and debt
discounts, net (41,563) (51,473)
Capital lease obligations (3) 166,492 194,914
Total long-term debt and capital lease obligations
(including current portion) $ 13,755,925 $ 14,427,526
(1) On June 1, 2015, we redeemed the principal balance of our 7 3/4% Senior Notes due 2015.
(2) On February 1, 2016, we redeemed the principal balance of our 7 1/8% Senior Notes due 2016.
(3) Disclosure regarding fair value of capital 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 general unsecured senior obligations of DISH DBS Corporation (“DISH DBS”);
x ranked equally in right of payment with all of DISH DBS’ and the guarantors’ existing and future
unsecured senior debt; and
x ranked effectively junior to our and the guarantors’ current and future secured senior indebtedness up to the
value of the collateral securing such indebtedness.