Lease Commitments

12 Months Ended

Dec. 31, 2011

Lease Commitments Disclosure [Text Block]

NOTE 14. LEASE COMMITMENTS

At December 31, 2011, we were obligated under noncancelable operating lease agreements for office space, vehicles, computer equipment and office equipment. Most of our leases include renewal options, purchase options or both. These provisions may be exercised by us upon the expiration of the related lease agreements. Rental expense under our operating lease agreements was $5,232,000, $4,506,000 and $4,209,000 for 2011, 2010 and 2009, respectively. Our most significant lease arrangement is for office space for our regional office in Galveston, Texas. This lease expires in December 2014. The annual lease payments for this office space total approximately $2,100,000.

At December 31, 2011, our future minimum rental payments are as follows:



(In Thousands)
2012	$	6,024
2013	5,682
2014	4,314
2015	1,720
2016	1,341
Thereafter	887
Total	$	19,968

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

+ References+ Details