Quarterly report pursuant to Section 13 or 15(d)

Equipment and Network Infrastructure Financing Obligations

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Equipment and Network Infrastructure Financing Obligations
9 Months Ended
Sep. 30, 2018
Capital Lease Obligations [Abstract]  
Equipment and Network Infrastructure Financing Obligations

From time to time, the Company enters into capital lease arrangements to finance the purchase of network hardware and software utilized in its operations. These arrangements require monthly payments over a period of 2 to 20 years with interest rates ranging between 2.0% and 8.3% per annum. The Company’s equipment and network infrastructure financing obligations are as follows (in thousands):

 

    September 30,     December 31,  
    2018     2017  
Equipment financing obligations   $ 1,910     $ 1,292  
IRU(1)     4,208       6,415  
Amount representing interest     (763 )     (881 )
Present value of minimum lease payments     5,355       6,826  
Less current portion     (2,525 )     (3,003 )
Non-current portion   $ 2,830     $ 3,823  

__________

(1) Purchase of an indefeasible right to use (“IRU”) fiber network infrastructure owned by others.

 

As of September 30, 2018, the payment obligations under capital leases are as follows (in thousands): 

 

         remainder of 2018   $ 953  
2019     2,212  
2020     813  
2021     443  
2022     245  
Thereafter     1,452  
    $ 6,118