Leases

Capital Lease and Other Financing Obligations

Tokyo 5 ("TY5") Equipment Leases

In February 2016, the Company entered into a lease agreement for certain equipment in TY5 data center in Tokyo metro area. The lease was accounted for as a capital lease. Monthly payments under the equipment lease will be made through February 2032 at an effective interest rate of 6.33%. The total outstanding obligation under the equipment lease was approximately ¥3,074,947,000, or $29,765,000 in U.S. dollars at the exchange rate in effect as of June 30, 2016.

Maturities of Capital Lease and Other Financing Obligations

The Company’s capital lease and other financing obligations are summarized as follows (in thousands):



	Capital lease obligations			Other financing obligations ⁽¹⁾			Total
2016 (6 months remaining)	$	40,876		$	43,105		$	83,981
2017	82,482			86,065			168,547
2018	82,660			82,392			165,052
2019	83,431			77,105			160,536
2020	83,455			74,488			157,943
Thereafter	970,714			784,716			1,755,430
Total minimum lease payments	1,343,618			1,147,871			2,491,489
Plus amount representing residual property value	—			543,082			543,082
Less amount representing interest	(620,552		)	(806,604		)	(1,427,156		)
Present value of net minimum lease payments	723,066			884,349			1,607,415
Less current portion	(25,094		)	(67,517		)	(92,611		)
	$	697,972		$	816,832		$	1,514,804

⁽¹⁾Other financing obligations are primarily build-to-suit lease obligations.

Other financing obligations for data centers to be divested in connection with the Company's acquisition of TelecityGroup are included in liabilities held for sale in the condensed consolidated balance sheet as of June 30, 2016 and are not included in the summary of the Company's capital lease and other financing obligations above. Total minimum lease payments under those obligations totaled $55,396,000 at June 30, 2016.