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Capital Lease Obligations (Text Block)

12 Months Ended

Dec. 31, 2012

NOTE 8 – CAPITAL LEASE OBLIGATIONS

Future minimum lease payments under capital lease agreements are summarized as follows:

For years ending December 31,

2013		$ 346
2014		346
2015		279
2016		185
Thereafter		19
		1,175
Less: Interest		(76)
Present value of minimum lease payments		1,099

Less: Current portion		(310)
Long-term portion		$ 789

At December 31, 2012, property under capital leases had a cost of $3 million, and the related accumulated depreciation was $2 million. Depreciation of assets held under capital lease is included in depreciation expense.

- 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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