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Note 9 - Commitments and Contingencies
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
9.
Commitments and Contingencies
 
We have various contractual and other commitments requiring future payments. These commitments include amounts required to be paid for the acquisition of television stations; for the purchase of equipment; for operating lease commitments for equipment, land and office space; for commitments for various syndicated television programs; and for commitments under affiliation agreements with networks. Future minimum payments for these commitments as of December 31, 2015
are as follows (in thousands):
 
Year
 
2016
Acquisitions
 
 
Equipment
 
 
Operating
Leases
 
 
Syndicated
Television
Programming
 
 
Network
Affiliation
Agreements
 
 
Total
 
2016
  $ 415,300     $ 17     $ 2,286     $ 3,923     $ 88,737     $ 510,263  
2017
    -       -       2,021       11,151       105,038       118,210  
2018
    -       -       1,860       7,039       117,455       126,354  
2019
    -       -       1,673       719       71,418       73,810  
2020
    -       -       1,508       688       30,666       32,862  
Thereafter
    -       -       4,079       1,051       5,300       10,430  
Total
  $ 415,300     $ 17     $ 13,427     $ 24,571     $ 418,614     $ 871,929  
 
The amounts in the table above are estimates of commitments that are in addition to the liabilities accrued for on our consolidated balance sheet as of December 31, 2015. The amount presented for “2016 Acquisitions” represents our net obligations under the Schurz Acquisition and Related Transactions as of December 31, 2015. These transactions were completed on February 16, 2016. For additional information on these transactions see Note 11 “Subsequent Events”.
 
Leases
 
We have no material capital leases. Where leases include rent holidays, rent escalations, rent concessions and leasehold improvement incentives, the value of these incentives are amortized over the lease term including anticipated renewal periods. Leasehold improvements are depreciated over the associated lease term including anticipated renewal periods. Rent expense resulting from operating leases for the years ended December 31, 2015, 2014 and 2013 were $2.8 million, $2.2 million and $1.6 million, respectively.
 
Legal Proceedings and Claims
 
We are and expect to continue to be subject to legal actions, proceedings and claims that arise in the normal course of our business. In the opinion of management, the amount of ultimate liability, if any, with respect to these known actions, proceedings and claims will not materially affect our financial position, results of operations or cash flows, although legal proceedings are subject to inherent uncertainties, and unfavorable rulings or events could occur that could negatively affect us, possibly materially.