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Leases (Tables)
6 Months Ended
Jun. 30, 2020
Leases  
Components of Lease Expense

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​

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For the Three Months Ended 

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For the Six Months Ended 

​

​

​

June 30,

​

June 30,

​

​

    

2020

​

2019

​

2020

​

2019

​

​

​

(In thousands)

​

Operating lease cost (1)

​

$

18,118

​

$

83,914

​

$

35,849

​

$

164,984

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Short-term lease cost (2)

​

​

2,891

​

​

3,742

​

​

5,558

​

​

6,226

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​

​

​

​

​

​

​

​

​

​

​

​

​

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Finance lease cost:

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​

​

​

​

​

​

​

​

​

​

​

​

Amortization of right-of-use assets

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​

17,755

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​

3,805

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​

35,659

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​

9,913

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Interest on lease liabilities

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​

5,443

​

​

1,099

​

​

11,256

​

​

2,280

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Total finance lease cost

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​

23,198

​

​

4,904

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​

46,915

​

​

12,193

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Total lease costs

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$

44,207

​

$

92,560

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$

88,322

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$

183,403

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​

​

​

​

​

​

​

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(1)Pursuant to the Master Transaction Agreement, effective September 10, 2019, approximately $495 million of previously reported operating lease assets and the related liabilities for satellites and real estate assets were transferred to us. See Note 13 for further information. These satellite and real estate assets are no longer included in “Operating lease assets,” “Other current liabilities” and “Operating lease liabilities,” but rather in “Property and equipment, net” on our Condensed Consolidated Balance Sheets. Lease expense related to these satellites and real estate assets for the three and six months ended June 30, 2019 was $67 million and $134 million, respectively.
(2)Leases that have terms of 12 months or less.
Summary of Supplemental cash flow information related to leases

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For the Six Months Ended 

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​

​

June 30,

​

​

    

2020

​

2019

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​

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(In thousands)

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Cash paid for amounts included in the measurement of lease liabilities:

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​

​

​

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Operating cash flows from operating leases

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$

35,977

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$

168,668

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Operating cash flows from finance leases

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$

11,256

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$

2,295

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Financing cash flows from finance leases

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$

31,181

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$

10,454

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​

​

​

​

​

​

​

​

Right-of-use assets obtained in exchange for lease obligations:

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​

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Operating leases

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$

22,708

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$

89,554

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Finance leases

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$

—

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$

—

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​

​

​

​

​

​

​

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Right-of-use assets and liabilities recognized at January 1, 2019 upon adoption of ASC 842

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$

733,584

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​

​

​

​

​

​

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Summary of supplemental balance sheet information related to leases

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As of

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June 30,

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December 31,

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​

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2020

​

2019

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​

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(In thousands)

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Operating Leases:

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​

​

​

​

​

​

Operating lease assets (1)

​

$

113,852

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$

144,330

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​

​

​

​

​

​

​

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Other current liabilities

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$

58,625

​

$

57,910

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Operating lease liabilities

​

​

77,713

​

​

84,795

​

Total operating lease liabilities

​

$

136,338

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$

142,705

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​

​

​

​

​

​

​

​

Finance Leases:

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​

​

​

​

​

​

Property and equipment, gross

​

$

889,708

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$

890,598

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Accumulated depreciation

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​

(718,633)

​

​

(683,271)

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Property and equipment, net

​

$

171,075

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$

207,327

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​

​

​

​

​

​

​

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Other current liabilities

​

$

64,501

​

$

61,493

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Other long-term liabilities

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​

136,770

​

​

171,706

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Total finance lease liabilities

​

$

201,271

​

$

233,199

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​

​

​

​

​

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Weighted Average Remaining Lease Term:

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​

​

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Operating leases

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2.9 years

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​

3.1 years

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Finance leases

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3.4 years

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3.8 years

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Weighted Average Discount Rate:

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Operating leases

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4.6%

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​

5.0%

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Finance leases

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​

10.3%

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​

10.2%

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​

​

​

​

​

​

​

​

(1)During the six months ended June 30, 2020, we impaired the operating lease assets related to the narrowband IoT deployment that would not be utilized in our 5G Network Deployment, resulting in a $27 million non-cash impairment charge in “Impairment of long-lived assets” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See Note 2 for further information.

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Summary of maturities of operating lease liabilities

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Maturities of Lease Liabilities

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Operating

​

Finance

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​

​

​

For the Years Ending December 31,

​

Leases

​

Leases

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Total

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​

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(In thousands)

​

2020 (remaining six months)

​

$

33,509

​

$

37,765

​

$

71,274

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2021

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​

55,402

​

​

82,610

​

​

138,012

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2022

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​

30,511

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​

48,307

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​

78,818

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2023

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​

13,498

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​

40,942

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​

54,440

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2024

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​

8,367

​

​

30,707

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​

39,074

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Thereafter

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​

3,346

​

​

—

​

​

3,346

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Total lease payments

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​

144,633

​

​

240,331

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​

384,964

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Less: Imputed interest

​

​

(8,295)

​

​

(39,060)

​

​

(47,355)

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Total

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​

136,338

​

​

201,271

​

​

337,609

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Less: Current portion

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​

(58,625)

​

​

(64,501)

​

​

(123,126)

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Long-term portion of lease obligations

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$

77,713

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$

136,770

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$

214,483

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​

​

​

​

​

​

​

​

​

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Summary of maturities of finance lease liabilities

Maturities of lease liabilities as of June 30, 2020 were as follows:

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Maturities of Lease Liabilities

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​

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Operating

​

Finance

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​

​

​

For the Years Ending December 31,

​

Leases

​

Leases

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Total

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​

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(In thousands)

​

2020 (remaining six months)

​

$

33,509

​

$

37,765

​

$

71,274

​

2021

​

​

55,402

​

​

82,610

​

​

138,012

​

2022

​

​

30,511

​

​

48,307

​

​

78,818

​

2023

​

​

13,498

​

​

40,942

​

​

54,440

​

2024

​

​

8,367

​

​

30,707

​

​

39,074

​

Thereafter

​

​

3,346

​

​

—

​

​

3,346

​

Total lease payments

​

​

144,633

​

​

240,331

​

​

384,964

​

Less: Imputed interest

​

​

(8,295)

​

​

(39,060)

​

​

(47,355)

​

Total

​

​

136,338

​

​

201,271

​

​

337,609

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Less: Current portion

​

​

(58,625)

​

​

(64,501)

​

​

(123,126)

​

Long-term portion of lease obligations

​

$

77,713

​

$

136,770

​

$

214,483

​

​

​

​

​

​

​

​

​

​

​

​