Other Liabilities

9 Months Ended

Sep. 30, 2011

Other Liabilities

Other Liabilities

12.   Other Liabilities

The Company had recorded other current liabilities of $8.5 million and $0.1 million at September 30, 2011 and December 31, 2010, respectively.  The liability at September 30, 2011 includes a loss contingency of $4.6 million and an unrecognized tax benefit of $2.8 million (see Note 14), both relating to withholding taxes and including estimated interest, penalties and other adjustments that may be required upon settlement of the liability.  The liability at September 30, 2011 also includes $0.3 million of interest payable related to the Term Loan (see Note 10) and other miscellaneous liabilities of $0.8 million.

The Company had recorded other long term liabilities of $0.5 million at September 30, 2011 and $0.8 million at December 31, 2010.  Long term liabilities include $0.3 million of deferred leasehold liability related to the Company’s corporate headquarters office space at the end of both periods. The deferred leasehold liability represents the recording of rent expense on a straight-line basis while actual rent payments are escalating over the term of the lease and where certain leasehold improvement costs, reimbursable by the landlord, are being amortized on a straight-line basis against rent expense over the life of the lease which expires in November 2014.  In addition, the balances at both periods include $0.2 million of reclamation liabilities related to activities at the El Quevar project in Argentina.