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

6 Months Ended

Jun. 30, 2015

Leases [Abstract]

听

LEASE OBLIGATIONS

NOTE 10 - LEASE OBLIGATIONS

We lease certain mining, production and other equipment under operating and capital leases. The 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 $2.0 million and $6.3 million for the three and six months ended June听30, 2015, respectively, compared with $3.3 million and $9.5 million for the same respective period in 2014.

Future minimum payments under capital leases and non-cancellable operating leases at June听30, 2015 are as follows:



听	(In Millions)
听	Capital Leases		听	Operating Leases
2015 (July 1 - December 31)	$	13.0	听	$	5.4
2016	25.2		听	8.4
2017	23.1		听	7.3
2018	18.6		听	6.6
2019	10.1		听	4.8
2020 and thereafter	19.0		听	9.9
Total minimum lease payments	$	109.0	听	$	42.4
Amounts representing interest	23.2		听	听
Present value of net minimum lease payments	$	85.8	⁽¹⁾听	听

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⁽¹⁾听	The total is comprised of $18.2 million and $67.6 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at June听30, 2015.