XM Radio 2013 Annual Report Download - page 110
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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(Dollar amounts in thousands, unless otherwise stated)
Expected amortization expense for each of the fiscal years 2014 through 2018 and for periods thereafter is
as follows:
Year ending December 31, Amount
2014 .................................................................... $ 55,016
2015 .................................................................... 51,700
2016 .................................................................... 48,545
2017 .................................................................... 34,882
2018 .................................................................... 19,463
Thereafter ................................................................ 156,802
Total definite life intangible assets, net ....................................... $366,408
(9) Interest Costs
We capitalized a portion of the interest on funds borrowed as part of the cost of constructing our satellites
and related launch vehicles. We capitalized interest associated with our FM-6 satellite and related launch vehicle
during 2011 through its placement into operation in the fourth quarter 2013. We also incurred interest costs on
our debt instruments and on our satellite incentive agreements. The following is a summary of our interest costs:
For the Years Ended December 31,
2013 2012 2011
Interest costs charged to expense ......................... $204,671 $265,321 $304,938
Interest costs capitalized ............................... 26,445 31,982 33,522
Total interest costs incurred ........................... $231,116 $297,303 $338,460
Included in interest costs incurred is non-cash interest expense, consisting of amortization related to original
issue discounts, premiums and deferred financing fees of $21,698, $35,924 and $39,515 for the years ended
December 31, 2013, 2012 and 2011, respectively.
(10) Property and Equipment
Property and equipment, net, consists of the following:
December 31,
2013
December 31,
2012
Satellite system ............................................. $2,407,423 $ 1,943,537
Terrestrial repeater network ................................... 109,367 112,482
Leasehold improvements ..................................... 46,173 44,938
Broadcast studio equipment ................................... 59,020 55,823
Capitalized software and hardware ............................. 298,267 232,753
Satellite telemetry, tracking and control facilities .................. 63,944 62,734
Furniture, fixtures, equipment and other ......................... 67,275 76,028
Land ..................................................... 38,411 38,411
Building .................................................. 58,662 57,816
Construction in progress ...................................... 103,148 417,124
Total property and equipment ............................... 3,251,690 3,041,646
Accumulated depreciation and amortization ...................... (1,657,116) (1,469,724)
Property and equipment, net ................................. $1,594,574 $ 1,571,922
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