Note 13: Capital Lease Obligations
We include the current and noncurrent portions of the present value of the net minimum lease payments under capital leases for satellites and vehicles in "Accounts payable and accrued liabilities" and "Other liabilities and deferred credits" in the Consolidated Balance Sheets. The following table sets forth the present value of the net minimum lease payments under capital leases for satellites and vehicles as of December 31, 2013, along with total minimum lease payments for each of the years ending December 31:
|
Minimum Lease Payments |
|||
---|---|---|---|---|
|
(Dollars in Millions) |
|||
2014 |
$ | 101 | ||
2015 |
96 | |||
2016 |
91 | |||
2017 |
86 | |||
2018 |
76 | |||
Thereafter |
216 | |||
| | | | |
Total minimum lease payments |
666 | |||
Less: Amount representing interest |
(171 | ) | ||
| | | | |
Present value of net minimum lease payments |
$ | 495 | ||
| | | | |
| | | | |
Excluded from the table above are future payments under the contract for the lease of the ISDLA-1 and ISDLA-2 satellites currently under construction for DIRECTV Latin America, which we expect to account for as capital leases at the time the satellites are placed into service. See Note 21 for further discussion.
We include assets held under capitalized leases in "Satellites, net" and "Property and Equipment, net" in our Consolidated Balance Sheets. The following table sets forth assets held under capital leases as of December 31:
|
2013 |
2012 |
|||||
---|---|---|---|---|---|---|---|
|
(Dollars in Millions) |
||||||
Satellites under capital leases |
$ | 484 | $ | 509 | |||
Less: Accumulated amortization |
(251 | ) | (190 | ) | |||
| | | | | | | |
Satellites, net under capital leases |
$ | 233 | $ | 319 | |||
| | | | | | | |
| | | | | | | |
Property and equipment under capital leases |
$ | 140 | $ | 129 | |||
Less: Accumulated amortization |
(53 | ) | (47 | ) | |||
| | | | | | | |
Property and equipment, net under capital leases |
$ | 87 | $ | 82 | |||
| | | | | | | |
| | | | | | | |
We paid interest for capital leases of $41 million in 2013, $47 million in 2012 and $51 million in 2011.