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Leases

12 Months Ended

Dec. 31, 2011

9. Leases

The Company leases certain office facilities and equipment under operating leases. Rental expense also includes occasional rental of automobiles. Rent expense totaled approximately $623,000 and $773,000 in 2011 and 2010, respectively. The future minimum lease payments under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of December 31, 2011, are summarized as follows:


Year Ended:
2012	$	476,822
2013		261,798
2014		176,877
2015		134,027
2016		79,826
Thereafter		-
Total	$	1,129,350

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details