Quarterly report pursuant to Section 13 or 15(d)

Equipment and Network Infrastructure Financing Obligations

v3.10.0.1
Equipment and Network Infrastructure Financing Obligations
6 Months Ended
Jun. 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):

 

    June 30,     December 31,  
    2018     2017  
Equipment financing obligations   $ 2,345     $ 1,292  
IRU (1)     4,822       6,415  
Amount representing interest     (824 )     (881 )
Present value of minimum lease payments     6,343       6,826  
Less current portion     (3,027 )     (3,003 )
Non-current portion   $ 3,316     $ 3,823  

__________

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

 

The payment obligations under capital leases are as follows (in thousands):

 

         remainder of 2018   $ 1,999  
2019     2,211  
2020     818  
2021     442  
2022     245  
Thereafter     1,452  
    $ 7,167