XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.20.2

Leases | 6 Months Ended
--- | ---
Jun. 30, 2020
Leases [Abstract] |
Leases | Leases The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $991 and $1,267 for the three months ended June 30, 2020 and 2019, respectively, and was $2,253 and $2,532 for the six months ended June 30, 2020 and 2019, respectively. Short-term operating lease costs was $62 and $47 for the three months ended June 30, 2020 and 2019, respectively, and was $123 and $95 for the six months ended June 30, 2020 and 2019, respectively. Sublease income was $33 and $32 for the three months ended June 30, 2020 and 2019, respectively, and was $67 and $66 for the six months ended June 30, 2020 and 2019, respectively. The future minimum lease payments under our operating leases as of June 30, 2020 are:
Remainder of 2020 | $ | 815 |
2021 | 1,395 |
2022 | 1,300 |
2023 | 465 |
2024 and thereafter | 595 |
Total minimum lease payments | $ | 4,570 |
Less amount representing interest | $ | (428) |
Present value of net minimum operating lease payments | $ | 4,142 |
Less current installments of obligation under current-operating lease liabilities | $ | 1,339 |
Obligations under long-term operating lease liabilities, excluding current installments | $ | 2,803 |
Weighted-average remaining lease term - operating leases (years) | 3.46
Weighted-average discount rate - operating leases | 5.50 | %
During the first quarter of 2018, the Company entered into a five-year financing lease for three satellite hubs for its HTS network. As of June 30, 2020, the gross costs and accumulated amortization associated with this lease are included in revenue generating assets and amounted to $3,068 and $1,065, respectively. Property and equipment under capital leases are stated at the present value of minimum lease payments. The property and equipment held under this financing lease are amortized on a straight-line basis over the seven-year estimated useful life of the asset, since the lease meets the bargain purchase option criteria. Amortization of assets held under financing leases is included within depreciation expense. Depreciation expense for these capital assets was $109 for both the three months ended June 30, 2020 and 2019 and was $219 for both the six months ended June 30, 2020 and 2019. The future minimum lease payments under this financing lease as of June 30, 2020 are:
Remainder of 2020 | $ | 312 |
2021 | 624 |
2022 | 624 |
2023 | 45 |
Total minimum lease payments | $ | 1,605 |
Less amount representing interest | $ | (14) |
Present value of net minimum financing lease payments | $ | 1,591 |
Less current installments of obligation under accrued other | $ | 616 |
Obligations under other long-term liabilities, excluding current installments | $ | 975 |
Weighted-average remaining lease term - finance leases (years) | 2.67
Weighted-average discount rate - finance leases | 1.53 | %
Lessor The Company enters into leases with certain customers primarily of the TracPhone mini-VSAT systems. These leases are classified as sales-type leases as title of the equipment transfers to the customer at the end of the lease term. The Company records the leases at a price typically equivalent to normal selling price and in excess of the cost or carrying amount. Upon delivery, the Company records the net present value of all payments under these leases as revenue, and the related costs of the product are charged to cost of sales. Interest income is recognized throughout the lease term (typically three to five years) using an implicit interest rate. The sales-type leases do not have unguaranteed residual assets. The current portion of the net investment in these leases was $4,322 as of June 30, 2020 and the non-current portion of the net investment in these leases was $7,229 as of June 30, 2020. The current portion of the net investment in the leases is included in accounts receivable, net of allowance for doubtful accounts on the accompanying consolidated balance sheets and the non-current portion of the net investment in these leases is included in other non-current assets on the accompanying consolidated balance sheets. Interest income from sales-type leases was $203 and $400 during the three and six months ended June 30, 2020, respectively, and was $163 and $331 during the three and six months ended June 30, 2019. The future undiscounted cash flows from these leases as of June 30, 2020 are:
Remainder of 2020 | $ | 3,036 |
2021 | 3,694 |
2022 | 2,776 |
2023 | 2,152 |
2024 | 1,380 |
2025 | $ | 206 |
Total undiscounted cash flows | $ | 13,244 |
Present value of lease payments | $ | 11,551 |
Difference between undiscounted cash flows and discounted cash flows | $ | 1,693 |
Leases | Leases The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $991 and $1,267 for the three months ended June 30, 2020 and 2019, respectively, and was $2,253 and $2,532 for the six months ended June 30, 2020 and 2019, respectively. Short-term operating lease costs was $62 and $47 for the three months ended June 30, 2020 and 2019, respectively, and was $123 and $95 for the six months ended June 30, 2020 and 2019, respectively. Sublease income was $33 and $32 for the three months ended June 30, 2020 and 2019, respectively, and was $67 and $66 for the six months ended June 30, 2020 and 2019, respectively. The future minimum lease payments under our operating leases as of June 30, 2020 are:
Remainder of 2020 | $ | 815 |
2021 | 1,395 |
2022 | 1,300 |
2023 | 465 |
2024 and thereafter | 595 |
Total minimum lease payments | $ | 4,570 |
Less amount representing interest | $ | (428) |
Present value of net minimum operating lease payments | $ | 4,142 |
Less current installments of obligation under current-operating lease liabilities | $ | 1,339 |
Obligations under long-term operating lease liabilities, excluding current installments | $ | 2,803 |
Weighted-average remaining lease term - operating leases (years) | 3.46
Weighted-average discount rate - operating leases | 5.50 | %
During the first quarter of 2018, the Company entered into a five-year financing lease for three satellite hubs for its HTS network. As of June 30, 2020, the gross costs and accumulated amortization associated with this lease are included in revenue generating assets and amounted to $3,068 and $1,065, respectively. Property and equipment under capital leases are stated at the present value of minimum lease payments. The property and equipment held under this financing lease are amortized on a straight-line basis over the seven-year estimated useful life of the asset, since the lease meets the bargain purchase option criteria. Amortization of assets held under financing leases is included within depreciation expense. Depreciation expense for these capital assets was $109 for both the three months ended June 30, 2020 and 2019 and was $219 for both the six months ended June 30, 2020 and 2019. The future minimum lease payments under this financing lease as of June 30, 2020 are:
Remainder of 2020 | $ | 312 |
2021 | 624 |
2022 | 624 |
2023 | 45 |
Total minimum lease payments | $ | 1,605 |
Less amount representing interest | $ | (14) |
Present value of net minimum financing lease payments | $ | 1,591 |
Less current installments of obligation under accrued other | $ | 616 |
Obligations under other long-term liabilities, excluding current installments | $ | 975 |
Weighted-average remaining lease term - finance leases (years) | 2.67
Weighted-average discount rate - finance leases | 1.53 | %
Lessor The Company enters into leases with certain customers primarily of the TracPhone mini-VSAT systems. These leases are classified as sales-type leases as title of the equipment transfers to the customer at the end of the lease term. The Company records the leases at a price typically equivalent to normal selling price and in excess of the cost or carrying amount. Upon delivery, the Company records the net present value of all payments under these leases as revenue, and the related costs of the product are charged to cost of sales. Interest income is recognized throughout the lease term (typically three to five years) using an implicit interest rate. The sales-type leases do not have unguaranteed residual assets. The current portion of the net investment in these leases was $4,322 as of June 30, 2020 and the non-current portion of the net investment in these leases was $7,229 as of June 30, 2020. The current portion of the net investment in the leases is included in accounts receivable, net of allowance for doubtful accounts on the accompanying consolidated balance sheets and the non-current portion of the net investment in these leases is included in other non-current assets on the accompanying consolidated balance sheets. Interest income from sales-type leases was $203 and $400 during the three and six months ended June 30, 2020, respectively, and was $163 and $331 during the three and six months ended June 30, 2019. The future undiscounted cash flows from these leases as of June 30, 2020 are:
Remainder of 2020 | $ | 3,036 |
2021 | 3,694 |
2022 | 2,776 |
2023 | 2,152 |
2024 | 1,380 |
2025 | $ | 206 |
Total undiscounted cash flows | $ | 13,244 |
Present value of lease payments | $ | 11,551 |
Difference between undiscounted cash flows and discounted cash flows | $ | 1,693 |
Leases | Leases The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $991 and $1,267 for the three months ended June 30, 2020 and 2019, respectively, and was $2,253 and $2,532 for the six months ended June 30, 2020 and 2019, respectively. Short-term operating lease costs was $62 and $47 for the three months ended June 30, 2020 and 2019, respectively, and was $123 and $95 for the six months ended June 30, 2020 and 2019, respectively. Sublease income was $33 and $32 for the three months ended June 30, 2020 and 2019, respectively, and was $67 and $66 for the six months ended June 30, 2020 and 2019, respectively. The future minimum lease payments under our operating leases as of June 30, 2020 are:
Remainder of 2020 | $ | 815 |
2021 | 1,395 |
2022 | 1,300 |
2023 | 465 |
2024 and thereafter | 595 |
Total minimum lease payments | $ | 4,570 |
Less amount representing interest | $ | (428) |
Present value of net minimum operating lease payments | $ | 4,142 |
Less current installments of obligation under current-operating lease liabilities | $ | 1,339 |
Obligations under long-term operating lease liabilities, excluding current installments | $ | 2,803 |
Weighted-average remaining lease term - operating leases (years) | 3.46
Weighted-average discount rate - operating leases | 5.50 | %
During the first quarter of 2018, the Company entered into a five-year financing lease for three satellite hubs for its HTS network. As of June 30, 2020, the gross costs and accumulated amortization associated with this lease are included in revenue generating assets and amounted to $3,068 and $1,065, respectively. Property and equipment under capital leases are stated at the present value of minimum lease payments. The property and equipment held under this financing lease are amortized on a straight-line basis over the seven-year estimated useful life of the asset, since the lease meets the bargain purchase option criteria. Amortization of assets held under financing leases is included within depreciation expense. Depreciation expense for these capital assets was $109 for both the three months ended June 30, 2020 and 2019 and was $219 for both the six months ended June 30, 2020 and 2019. The future minimum lease payments under this financing lease as of June 30, 2020 are:
Remainder of 2020 | $ | 312 |
2021 | 624 |
2022 | 624 |
2023 | 45 |
Total minimum lease payments | $ | 1,605 |
Less amount representing interest | $ | (14) |
Present value of net minimum financing lease payments | $ | 1,591 |
Less current installments of obligation under accrued other | $ | 616 |
Obligations under other long-term liabilities, excluding current installments | $ | 975 |
Weighted-average remaining lease term - finance leases (years) | 2.67
Weighted-average discount rate - finance leases | 1.53 | %
Lessor The Company enters into leases with certain customers primarily of the TracPhone mini-VSAT systems. These leases are classified as sales-type leases as title of the equipment transfers to the customer at the end of the lease term. The Company records the leases at a price typically equivalent to normal selling price and in excess of the cost or carrying amount. Upon delivery, the Company records the net present value of all payments under these leases as revenue, and the related costs of the product are charged to cost of sales. Interest income is recognized throughout the lease term (typically three to five years) using an implicit interest rate. The sales-type leases do not have unguaranteed residual assets. The current portion of the net investment in these leases was $4,322 as of June 30, 2020 and the non-current portion of the net investment in these leases was $7,229 as of June 30, 2020. The current portion of the net investment in the leases is included in accounts receivable, net of allowance for doubtful accounts on the accompanying consolidated balance sheets and the non-current portion of the net investment in these leases is included in other non-current assets on the accompanying consolidated balance sheets. Interest income from sales-type leases was $203 and $400 during the three and six months ended June 30, 2020, respectively, and was $163 and $331 during the three and six months ended June 30, 2019. The future undiscounted cash flows from these leases as of June 30, 2020 are:
Remainder of 2020 | $ | 3,036 |
2021 | 3,694 |
2022 | 2,776 |
2023 | 2,152 |
2024 | 1,380 |
2025 | $ | 206 |
Total undiscounted cash flows | $ | 13,244 |
Present value of lease payments | $ | 11,551 |
Difference between undiscounted cash flows and discounted cash flows | $ | 1,693 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_LessorSalesTypeLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration