3. Programming Rights

Programming rights are comprised of the following:


		As of December 31,		As of March 31,
	2015		2016
	(In thousands)
Programming rights — non-affiliates
Acquired programming
Licensed for less than 12 years	$	292,990	$	317,248
Original programming
Licensed for less than 12 years		250,189		249,668
Licensed for 12 years or longer		118,717		136,547
Owned		83,140		92,988
Programming rights— Hallmark Cards affiliates
Licensed for less than 12 years		28,334		28,334
Programming rights, at cost		773,370		824,785
Accumulated amortization		(398,582)		(435,398)
Programming rights available for broadcast		374,788		389,387
Owned programming in development		5,228		5,457
Programming rights, net	$	380,016	$	394,844

In the regular course of evaluating the remaining usefulness of its various program rights, the Company may determine that certain rights may be of little future value. In such instances, the Company shortens the estimated remaining life of the asset, often to zero, thereby accelerating amortization of the remaining net book value. During both the three months ended March 31, 2015 and 2016, no such changes in estimates resulted in additional amortization of programming rights.

At December 31, 2015 and March 31, 2016, $24.0 million and $22.2 million, respectively, of programming rights were included in prepaid programming rights in the accompanying unaudited condensed consolidated balance sheets. The various license periods associated with such amounts had not commenced as of the respective balance sheet dates.

Programming rights payable are comprised of the following:


	As of December 31,		As of March 31,
	2015		2016
	(In thousands)
Programming rights payable — non-affiliates
Acquired programming	$	94,201	$	105,071
Original programming		14,719		11,922
Programming rights payable — Hallmark Cards affiliates		13,643		12,954
Total programming rights payable		122,563		129,947
Less current maturities		(73,654)		(71,260)
Long-term programming rights payable	$	48,909	$	58,687