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

6 Months Ended

Jun. 30, 2012

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 $6.2 million and $12.5 million, respectively, for the three and six months ended June听30, 2012, compared with $7.9 million and $13.7 million, respectively, for the same periods in 2011.

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

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听	听听	(In Millions)						听
听	听听	Capital Leases		听	听	Operating Leases		听
2012 (July 1 - December 31)	听听	听听$	听听听听40.2听听	听听	听	听听$	听听听听11.7听听	听听
2013	听听	听	72.1听听	听听	听	听	23.5听听	听听
2014	听听	听	66.7听听	听听	听	听	19.6听听	听听
2015	听听	听	55.5听听	听听	听	听	12.7听听	听听
2016	听听	听	39.9听听	听听	听	听	9.5听听	听听
2017 and thereafter	听听	听	123.0听听	听听	听	听	30.2听听	听听
	听听	听	听	听	听	听	听	听
Total minimum lease payments	听听	听听$	听听听听397.4听听	听听	听	听听$	听听听听107.2听听	听听
	听听				听	听	听	听
Amounts representing interest	听听	听	90.5听听	听听	听
	听听	听	听	听	听
Present value of net minimum lease payments	听听	听听$	听听听听306.9听听	(1)听	听
	听听	听	听	听	听

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(1)

The total is comprised of $53.4 million and $253.5 million classified as Other current liabilities and Other liabilities , respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at June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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