Redbox 2013 Annual Report Download - page 95

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86
As of December 31, 2013, our future minimum lease payments are as follows:
Dollars in thousands Capital Leases Operating Leases (1)
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 12,640 $ 15,306
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,618 11,114
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,462 8,765
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 314 7,301
2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168 6,228
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 17,654
Total minimum lease commitments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,253 $ 66,368
Less: amounts representing interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (892)
Present value of capital lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,361
Less: Current portion of capital lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . . (11,997)
Long-term portion of capital lease obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,364
(1) Includes all operating leases having an initial or remaining non-cancelable 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 $23.3 million as of December 31, 2013.
Pursuant to the manufacturing and services agreement entered into as part of the NCR Asset Acquisition, Outerwall, Redbox or
an affiliate were committed to purchase goods and services from NCR for a period of five years from June 22, 2012. At the end
of the five-year period, if the aggregate amount paid in margin to NCR for goods and services delivered were to equal less than
$25.0 million, Outerwall was to pay NCR the difference between such aggregate amount and $25.0 million. As of December
31, 2013, our remaining commitment is $17.9 million under this arrangement.
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, 2013 is presented in the following table:
Dollars in thousands
Years Ended December 31,
Total 2014 2015 2016
Fox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 121,452 $ 88,942 $ 32,510 $ —
Universal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120,077 103,941 16,136 —
Sony . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109,349 109,349 — —
Paramount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99,214 99,214 — —
Warner. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,953 85,608 5,345 —
Lionsgate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,999 35,999 — —
Summit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,357 21,357 — —
Anchor Bay. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,318 21,318 — —
Total estimated commitments . . . . . . . . . . . . . . . . $ 619,719 $ 565,728 $ 53,991 $ —