Operating Leases

12 Months Ended

Dec. 31, 2011

NOTE 9: OPERATING LEASES

Blue Valley Building Corp. leases office space to others under noncancellable operating leases expiring in various years through 2015. Minimum future rent receivable under noncancellable operating leases at December 31, 2011 was as follows:


(In thousands)
2012	$	301
2013		181
2014		75
2015		7

	$	564

Consolidated rental and operating lease expenses incurred for space the Company leases from others were $11,000, $14,000 and $6,000 in 2011, 2010 and 2009, respectively. The Company terminated the lease for space rented from others September 30, 2011.

- 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.

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