Leases (Tables)

12 Months Ended

Dec. 31, 2012

Gross Carrying Value by Major Asset Class and Accumulated Depreciation

The gross carrying value by major asset class and accumulated depreciation as of December 31, 2012 and 2011 are as follows (in thousands):

	December 31,
	2012			2011
Building and leasehold improvements	$	2,117		$	2,117
Furniture, fixtures and other equipment		195			195
Total assets recorded under capital leases		2,312			2,312
Less: accumulated depreciation		(882	)		(464	)
Net assets recorded under capital leases	$	1,430		$	1,848

Future Minimum Payments for Capital Leases

Future minimum payments for our capital leases at December 31, 2012 are as follows (in thousands):

Years ending December 31,
2013	$	5,129
2014		5,191
2015		5,280
2016		4,034
Total minimum payments required	$	19,634
Less: amount representing interest		(5,057	)
Present value of future minimum lease payments	$	14,577
Less: current portion		(2,970	)
Capital lease obligation, less current portion	$	11,607

Future Minimum Lease Payments for Operating Lease

Our future minimum lease payments for our operating lease at December 31, 2012 are as follows (in thousands):

Years ending December 31,
2013	$	200
2014		1,509
2015		3,667
2016		3,777
2017		3,888
2018 and thereafter		8,479
Total future minimum lease payments	$	21,520