Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.3.0.814
Property and Equipment
9 Months Ended
Sep. 30, 2015
Property Plant And Equipment [Abstract]  
Property and Equipment

(8)

Property and Equipment

Property and equipment, net, consists of the following:

 

 

 

September 30, 2015

 

 

December 31, 2014

 

Satellite system

 

$

2,397,611

 

 

$

2,397,611

 

Terrestrial repeater network

 

 

113,205

 

 

 

108,341

 

Leasehold improvements

 

 

48,928

 

 

 

48,677

 

Broadcast studio equipment

 

 

69,737

 

 

 

61,306

 

Capitalized software and hardware

 

 

426,745

 

 

 

340,738

 

Satellite telemetry, tracking and control facilities

 

 

75,218

 

 

 

71,268

 

Furniture, fixtures, equipment and other

 

 

79,553

 

 

 

78,237

 

Land

 

 

38,445

 

 

 

38,411

 

Building

 

 

59,624

 

 

 

59,373

 

Construction in progress

 

 

131,834

 

 

 

155,716

 

Total property and equipment

 

 

3,440,900

 

 

 

3,359,678

 

Accumulated depreciation and amortization

 

 

(2,000,532

)

 

 

(1,849,566

)

Property and equipment, net

 

$

1,440,368

 

 

$

1,510,112

 

 

Construction in progress consists of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2015

 

 

December 31, 2014

 

Satellite system

 

$

12,912

 

 

$

12,912

 

Terrestrial repeater network

 

 

44,761

 

 

 

48,406

 

Capitalized software

 

 

50,761

 

 

 

77,755

 

Other

 

 

23,400

 

 

 

16,643

 

Construction in progress

 

$

131,834

 

 

$

155,716

 

Depreciation expense on property and equipment was $57,580 and $50,908 for the three months ended September 30, 2015 and 2014, respectively, and $163,459 and $158,435 for the nine months ended September 30, 2015 and 2014, respectively.  We retired property and equipment of $12,774 and $14,802 during the nine months ended September 30, 2015 and 2014, respectively.

Satellites

We currently own a fleet of nine operating satellites. The chart below provides certain information on these satellites:

 

Satellite Description

 

Year Delivered

 

 

Estimated End of

Depreciable Life

 

FM-1*

 

 

2000

 

 

 

2013

 

FM-2*

 

 

2000

 

 

 

2013

 

FM-3

 

 

2000

 

 

 

2015

 

FM-5

 

 

2009

 

 

 

2024

 

FM-6

 

 

2013

 

 

 

2028

 

XM-1*

 

 

2001

 

 

 

2013

 

XM-3

 

 

2005

 

 

 

2020

 

XM-4

 

 

2006

 

 

 

2021

 

XM-5

 

 

2010

 

 

 

2025

 

* Satellite was fully depreciated and was still in operation as of September 30, 2015.