Redbox 2011 Annual Report Download - page 89

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accounted for as a capital lease such that the kiosks remain on our books and continue to be depreciated. Our
obligation related to the transaction was $4.8 million and $19.7 million at December 31, 2011 and 2010,
respectively.
Assets held under capital leases are included in property and equipment, net on the Consolidated Balance Sheets
and include the following:
Dollars in thousands December 31,
2011 2010
Gross property and equipment ................................................ $46,173 $ 69,155
Accumulated depreciation ................................................... (19,257) (26,165)
Net property and equipment .............................................. $26,916 $ 42,990
As of December 31, 2011, our future minimum lease payments are as follows:
Dollars in thousands Capital Leases Operating Leases(1)
2012 ............................................................ $12,788 $ 7,578
2013 ............................................................ 7,595 7,070
2014 ............................................................ 4,126 5,412
2015 ............................................................ 545 4,358
2016 ............................................................ 203 3,996
Thereafter ....................................................... 62 14,941
Total minimum lease commitments ................................... 25,319 $43,355
Less: amounts representing interest ................................... (1,494)
Present value of capital lease obligations ............................... 23,825
Less: Current portion of capital lease obligations ........................ (12,057)
Long-term portion of capital lease obligations ........................... $11,768
(1) Includes all operating leases having an initial or remaining noncancelable lease term in excess of one year.
Purchase Commitments
We have entered into certain miscellaneous purchase agreements, primarily related to purchases of equipment,
which resulted in total purchase commitments of $22.6 million as of December 31, 2011.
Content License Agreements
We have entered into certain license agreements to obtain content for movie and video game rentals. A summary
of the estimated commitments in relation to these agreements as of December 31, 2011 is presented in the
following table:
Dollars in thousands Year Ended December 31,
Total 2012 2013 2014 2015 2016
Sony ................................ $ 520,165 $188,884 $198,350 $132,931 $ — $—
Paramount ............................ 278,206 88,458 94,874 94,874 — —
Universal Studios ...................... 26,419 26,419 — — — —
20th Century Fox ...................... 346,357 102,371 107,151 107,151 29,684 —
Lionsgate ............................ 117,518 42,796 44,559 30,163 — —
Warner .............................. 12,845 12,845 — — — —
Other ................................ 102,038 33,402 34,318 34,318 — —
Total estimated commitments ........ $1,403,548 $495,175 $479,252 $399,437 $29,684 $—
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