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Net Investment In Direct Financing Leases
 12 Months Ended
Dec. 31, 2013
Leases [Abstract]  
Net Investment In Direct Financing Leases
7. Net Investment in Direct Financing Leases    

Our direct financing leases include a lease of the Northeast Jackson Dome (“NEJD”) Pipeline. Under the terms of the agreement, we are paid quarterly payments, which commenced August 2008. These quarterly payments are fixed at approximately $20.7 million per year during the lease term at an interest rate of 10.25%. At the end of the lease term in 2028, we will convey all of our interests in the NEJD Pipeline to the lessee for a nominal payment.
The following table lists the components of the net investment in direct financing leases:
 
 
December 31,
 
2013
 
2012
Total minimum lease payments to be received
$
298,924

 
$
320,148

Estimated residual values of leased property (unguaranteed)
292

 
292

Unamortized initial direct costs
1,621

 
1,804

Less unearned income
(143,415
)
 
(159,750
)
Net investment in direct financing leases
157,422

 
162,494

Less current portion (included in other current assets)
(5,519
)
 
(5,109
)
Long-term portion of net investment in direct financing leases
$
151,903

 
$
157,385


At December 31, 2013, minimum lease payments to be received for each of the five succeeding fiscal years are $21.2 million for 2014 and $20.7 million per year for 2015, 2016, 2017 and 2018.