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, 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 related to continuing operations was $3.2 million and $9.5 million for the three and nine months ended September听30, 2015, respectively, compared with $4.4 million and $13.9 million for the same respective periods in 2014.

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



听	(In Millions)
听	Capital Leases		听	Operating Leases
2015 (October 1 - December 31)	$	5.9	听	$	2.6
2016	23.2		听	7.6
2017	21.3		听	7.0
2018	17.2		听	6.4
2019	9.5		听	4.8
2020 and thereafter	17.5		听	9.9
Total minimum lease payments	$	94.6	听	$	38.3
Amounts representing interest	19.5		听	听
Present value of net minimum lease payments	$	75.1	⁽¹⁾听	听

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⁽¹⁾听	The total is comprised of $16.9 million and $58.2 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at September听30, 2015.