LEASES (Tables)

12 Months Ended

Dec. 31, 2012

Future Minimum Lease Receivables for Capital Leases

In 2005, we entered into a direct financing lease of a PCTC expiring in 2015; and, in 1999, we entered into a direct financing lease of a PCTC expiring in 2019. We sold the PCTC expiring in 2019 to a third party in the first quarter of 2012. The schedule of future minimum rentals to be received by us under the direct financing lease in effect at December 31, 2012, is as follows:

(Amounts in Thousands)	Receivables Under Direct Financing Leases
Year Ended December 31,
2013	$	5,625
2014		5,625
2015		4,219
Total Minimum Lease Payments Receivable		15,469
Estimated Residual Value of Leased Property		6,000
Less: Unearned Income		(4,468	)
Total Net Investment in Direct Financing Leases		17,001
Current Portion		(3,540	)
Long-Term Net Investment in Direct Financing Leases at December 31, 2012	$	13,461

Future Minimum Rental Payments for Operating Leases

Rent expense related to all of our operating leases totaled approximately $11,190,000, $13,634,000 and $28,844,000 for the years ended December 31, 2012, 2011 and 2010, respectively. The following is a schedule, by year, of future minimum payments required under operating leases that have initial non-cancelable terms in excess of one year as of December 31, 2012:

	Payments Under Operating Leases
(Amounts in thousands	Vessels		Other Leases		Total
Year Ended December 31,
2013	$	18,223	$	1,880	$	20,103
2014		18,071		1,300		19,371
2015		18,071		1,367		19,438
2016		18,071		1,095		19,166
2017		18,692		1,119		19,811
Thereafter		46,214		7,022		53,236

Total Future Minimum Payments	$	137,342	$	13,783	$	151,125