星空传媒 Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS

LEASE OBLIGATIONS

9 Months Ended

Sep. 30, 2016

Leases [Abstract]

听

LEASE OBLIGATIONS

NOTE 10 - LEASE OBLIGATIONS

We lease certain mining, production and other equipment under operating and capital leases. The capital leases are for varying lengths, generally at market interest rates and contain purchase and/or renewal options at the end of the terms. Our operating lease expense was $2.2 million and $6.8 million for the three and nine months ended September听30, 2016, respectively, compared with $3.2 million and $9.5 million, respectively, for the same periods in 2015.

Future minimum payments under capital leases and non-cancellable operating leases at September听30, 2016 are as follows:



听	(In Millions)
听	Capital Leases		听	Operating Leases
2016 (October 1 - December 31)	$	6.4	听	$	2.3
2017	23.4		听	8.9
2018	18.9		听	7.6
2019	10.5		听	4.9
2020	9.4		听	4.9
2021 and thereafter	9.4		听	5.0
Total minimum lease payments	$	78.0	听	$	33.6
Amounts representing interest	14.2		听	听
Present value of net minimum lease payments	$	63.8	⁽¹⁾听	听


⁽¹⁾听	The total is comprised of $18.3 million and $45.5 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at September听30, 2016.