Guarantees (Tables)

12 Months Ended

Dec. 31, 2012

Pursuant to arranging operating lease financing for certain tank trailers, individual subsidiaries of the Company may guarantee the lessor a minimum residual equipment sales value upon the expiration of a lease and sale of the underlying equipment. The Company believes performance under these guarantees to be remote. Aggregate guaranteed residual values under operating leases as of December 31, 2012 are as follows (in thousands):

		2013				2014				2015				Thereafter				Total
Equipment residual values		$	216			$	-			$	-			$	-			$	216

Parental guaranteed obligations

As of December 31, 2012, parental guaranteed obligations are approximately as follows (in thousands):

	2013		2014		2015		2016		Thereafter		Total
Lease payments	$	47	$	-	$	-		-		-		47
Equipment residual values		216		-		-		-		-		216
Commodity purchases		61,942		-		-		-		-		61,942
Letters of credit		21,996		-		-		-		-		21,996
	$	84,201	$	-	$	-	$	-	$	-	$	84,201

- Definition

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References+ Details