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

3 Months Ended

Mar. 31, 2012

Lease Obligations [Abstract]

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Lease Obligations

NOTE 10 鈥� 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 $6.3 million for the three months ended March 31, 2012, compared with $5.8 million for the same period in 2011.

Future minimum payments under capital leases and non-cancellable operating leases at March 31, 2012 are as follows:

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听	听听	(In听Millions)						听
听	听听	Capital Leases		听	听	Operating Leases		听
2012 (April 1 - December 31)	听听	听听$	听听听听61.3听听	听听	听	听听$	听听听听18.2听听	听听
2013	听听	听	72.1听听	听听	听	听	24.0听听	听听
2014	听听	听	66.8听听	听听	听	听	19.7听听	听听
2015	听听	听	55.5听听	听听	听	听	12.8听听	听听
2016	听听	听	40.7听听	听听	听	听	8.7听听	听听
2017 and thereafter	听听	听	132.5听听	听听	听	听	29.8听听	听听
	听听	听	听	听	听	听	听	听
Total minimum lease payments	听听	$	428.9听听	听听	听	听听$	113.2听听	听听
	听听				听	听	听	听
Amounts representing interest	听听	听	107.4听听	听听	听
	听听	听	听	听	听
Present value of net minimum lease payments	听听	$	321.5听听	(1)听	听
	听听	听	听	听	听

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(1)

The total is comprised of $56.3 million and $265.2 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at March听31, 2012

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- 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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