Sprint - Nextel 2013 Annual Report Download - page 199

Table of Contents
Index to Consolidated Financial Statements
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — ( CONTINUED)
Notes incorporates the value of the exchange feature which we have recognized separately as a derivative on our consolidated balance sheets. See Note 9, Long-term Debt,
Net for additional discussion.
Future minimum cash payments under obligations for our continuing operations listed below (including all optional expected renewal periods on operating
leases) as of
July 9, 2013 , are as follows (in thousands):
_____________________________________
Expense recorded related to spectrum and operating leases was as follows (in thousands):
Operating lease obligations —
Our commitments for non - cancelable operating leases consist mainly of leased sites, including towers and rooftop locations,
and office space. Certain of the leases provide for minimum lease payments, additional charges and escalation clauses. Operating leases generally have initial
terms of five to seven years with multiple renewal options for additional five
- year terms totaling between 20 and 25 years. Operating lease obligations in the
table above include all lease payments for the contractual lease term plus one renewal period and include any remaining future lease payments for leases where
notice of intent not to renew has been sent as a result of the lease termination initiatives. The estimated lease term utilized for lease expense recognition
purposes for most leases includes the initial non
- cancelable term plus one renewal period.
F - 78
(2)
Carrying value as of July 9, 2013 is net of $227.3 million discount arising from the BCF. See Note 9, Long-term Debt, Net for additional discussion.
12.
Commitments and Contingencies
Total
2013
2014
2015
2016
2017
Thereafter,
including all
renewal periods
Long -term debt obligations
(1)
$
4,648,725
$
12,282
$
12,729
$
2,954,464
$
300,000
$
500,000
$
869,250
Interest payments on long-
term debt obligations(1)
2,751,195
257,101
513,316
512,700
158,563
114,313
1,195,202
Operating lease obligations
3,207,212
188,022
402,830
406,397
404,451
401,897
1,403,615
Spectrum lease obligations
6,792,437
84,210
182,997
187,529
193,215
207,181
5,937,305
Spectrum service credits
and signed spectrum
agreements
101,727
1,470
2,939
2,939
2,939
2,939
88,501
Capital lease obligations(2)
165,831
16,677
35,563
34,297
22,574
14,426
42,294
Purchase agreements
109,141
76,317
17,871
6,301
1,899
1,884
4,869
Total
$
17,776,268
$
636,079
$
1,168,245
$
4,104,627
$
1,083,641
$
1,242,640
$
9,541,036
(1)
Principal and interest payments beyond 2017 represent potential principal and interest payments on the Exchangeable Notes beyond the expected repayment in 2017.
(2)
Payments include $41.3 million representing interest.
190 days ended July
9,
Year ended December 31,
2013
2012
2011
Spectrum lease expense
$
178,989
$
326,798
$
308,693
Operating lease expense
$
245,010
$
502,701
$
637,688