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Net Investment In Direct Financing Leases
 12 Months Ended
Dec. 31, 2014
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. There are requirements in our leases that would provide credit support should the credit rating of our lessee fall to certain levels.
The following table lists the components of the net investment in direct financing leases:
 
 
December 31,
 
2014
 
2013
Total minimum lease payments to be received
$
277,732

 
$
298,924

Estimated residual values of leased property (unguaranteed)
292

 
292

Unamortized initial direct costs
1,444

 
1,621

Less unearned income
(127,531
)
 
(143,415
)
Net investment in direct financing leases
151,937

 
157,422

Less current portion (included in other current assets)
(5,978
)
 
(5,519
)
Long-term portion of net investment in direct financing leases
$
145,959

 
$
151,903


At December 31, 2014, minimum lease payments to be received for each of the five succeeding fiscal years are $20.7 million.