星空传媒 Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS

LEASE OBLIGATIONS

9 Months Ended

Sep. 30, 2012

Leases [Abstract]

听

LEASE OBLIGATIONS

NOTE 11 - LEASE OBLIGATIONS

We lease certain mining, production and other equipment under operating and capital leases. The leases are for varying lengths, generally at market interest rates and contain purchase and/or renewal options at the end of the terms. Our operating lease expense was $6.7 million and $19.2 million, respectively, for the three and nine months ended September听30, 2012, compared with $4.2 million and $17.9 million, respectively, for the same periods in 2011.

Future minimum payments under capital leases and non-cancellable operating leases at September听30, 2012 are as follows:



听	(In Millions)
听	Capital Leases		听	Operating Leases
2012 (October 1 - December 31)	$	21.1	听	$	7.2
2013	72.2		听	24.6
2014	67.2		听	19.8
2015	55.9		听	13.0
2016	40.3		听	8.1
2017 and thereafter	124.6		听	28.6
Total minimum lease payments	$	381.3	听	$	101.3
Amounts representing interest	86.2		听	听
Present value of net minimum lease payments	$	295.1	(1)	听


(1)	The total is comprised of $53.6 million and $241.5 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at September听30, 2012.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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