Earthlink 2011 Annual Report Download - page 114

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Table of Contents
EARTHLINK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
depreciation and amortization expense in the Consolidated Statements of Operations. The future minimum payments due under the leases are as
follows (in thousands):
10. Shareholders' Equity
Shareholder Rights Plan
During 2002, the Board of Directors adopted a shareholder rights plan (the "Rights Plan"). In connection with the Rights Plan, the Board of
Directors also declared a dividend of one right for each outstanding share of EarthLink's common stock for stockholders of record at the close of
business on August 5, 2002.
Each right entitles the holder to purchase one one-
thousandth (1/1000) of a share (a "Unit") of EarthLink's Series D Junior Preferred Stock
at a price of $60.00 per Unit upon certain events. Generally, in the event a person or entity acquires, or initiates a tender offer to acquire, at least
15% of EarthLink's then outstanding common stock, the rights will become exercisable for common stock having a value equal to two times the
exercise price of the right, or effectively at one-half of EarthLink's then-
current stock price. The rights are redeemable under certain
circumstances at $0.01 per right and will expire, unless earlier redeemed, on August 6, 2012.
Share Repurchases
Since the inception of the Company's share repurchase program, the Board of Directors has authorized a total of $750.0 million for the
repurchase of EarthLink's common stock. As of December 31, 2011, the Company had $98.9 million available under the current authorizations.
The Company may repurchase its common stock from time to time in compliance with the Securities and Exchange Commission's regulations
and other legal requirements, including through the use of derivative transactions, and subject to market conditions and other factors. The share
repurchase program does not require the Company to acquire any specific number of shares and may be terminated by the Board of Directors at
any time.
107
Year Ending December 31,
2012
$
3,790
2013
3,378
2014
3,243
2015
3,123
2016
4,386
Thereafter
14,752
Total minimum lease payments
$
32,672
Less amounts representing interest
(14,329
)
Total capital lease obligations
$
18,343