Long term debt at December 31, 2011 and 2010 consists of the following (in thousands):



	2011		2010
(1) Capital lease obligation, 2.60%, paid in full on December 7, 2011	$	—	$	9,251
(2) Mortgage notes payable, 6.57%-6.73%, due October 1, 2012	43,045		44,473
(3) Mortgage note payable, 6.63%, due November 1, 2012	24,072		24,866
(4) Mortgage notes payable, 4.26%-9.01%, due February 10, 2013	106,229		112,982
(5) Unsecured revolving variable rate credit facility, LIBOR + 1.60%, due October 13, 2015	223,000		142,000
(6) Mortgage note payable, 6.84%, due March 1, 2014	95,976		103,127
(7) Mortgage note payable, 5.58%, due April 1, 2014	58,338		59,537
(8) Mortgage note payable, 5.50%, due July 1, 2014	4,000		4,000
(9) Mortgage note payable, 5.56%, due June 5, 2015	32,568		33,182
(10) Mortgage notes payable, 5.77%, due November 6, 2015	69,143		71,014
(11) Mortgage notes payable, 5.84%, due March 6, 2016	38,931		39,944
(12) Mortgage notes payable, 6.37%, due June 30, 2016	27,854		28,514
(13) Mortgage notes payable, 6.10%, due October 1, 2016	25,027		25,625
(14) Mortgage notes payable, 6.02%, due October 6, 2016	18,862		19,317
(15) Mortgage note payable, 6.06%, due March 1, 2017	10,518		10,762
(16) Mortgage note payable, 6.07%, due April 6, 2017	10,827		11,076
(17) Mortgage notes payable, 5.73%-5.95%, due May 1, 2017	50,132		51,319
(18) Mortgage note payable, 5.29%, due July 1, 2017	4,008		—
(19) Mortgage notes payable, 5.68% due August 1, 2017	25,677		26,268
(20) Term loans payable, paid in full on February 7, 2011	—		86,272
(21) Mortgage note payable, 6.19%, due February 1, 2018	15,643		16,171
(22) Mortgage note payable, 7.37%, due July 15, 2018	9,810		10,844
(23) Senior unsecured notes payable, 7.75%, due July 15, 2020	250,000		250,000
(24) Bond payable, variable rate, due October 1, 2037	10,635		10,635
Total	$	1,154,295	$	1,191,179

(1) On June 18, 2010, as part of the settlement with Mr. Cappelli and several of his affiliates, the Company assumed a ground lease on the Concord property and it was recorded as a capital lease obligation of $9.2 million. On December 7, 2011, the Company exercised its option to purchase the underlying property for a negotiated price of $8.9 million. A gain of $390 thousand was recognized related to the settlement of this capital lease obligation and is included in costs associated with loan refinancing or payoff, net in the accompanying consolidated statements of income.

(2) The Company’s mortgage notes payable due October 1, 2012 are secured by two theatre properties, which had a net book value of approximately $34.7 million at December 31, 2011. The notes had initial balances totaling $48.4 million and the monthly payments are based on a 20 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $365 thousand with a final principal payment at maturity totaling approximately $42.0 million.

(3) The Company’s mortgage note payable due November 1, 2012 is secured by one theatre property, which had a net book value of approximately $24.8 million at December 31, 2011. The note had an initial balance of $27.0 million and the monthly payments are based on a 20 year amortization schedule. The note requires monthly principal and interest payments of approximately $203 thousand with a final principal payment at maturity of approximately $23.4 million.

(4) The Company’s mortgage notes payable due February 10, 2013 are secured by thirteen theatre properties and one entertainment retail center, which had a net book value of approximately $204.2 million at December 31, 2011. The notes had initial balances totaling $155.5 million of which approximately $98.6 million has monthly payments that are interest only and $56.9 million has monthly payments based on a 10 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $1.1 million with a final principal payment at maturity totaling approximately $99.2 million. The weighted average interest rate on these notes is 5.95%.

(5) On October 13, 2011, the Company amended and restated its unsecured revolving credit facility (the facility). The size of the facility increased from $382.5 million to $400 million. The facility includes a $100 million subline for letters of credit and contains an accordion feature in which the facility can be increased to up to $500 million subject to certain conditions, including lender consent. The facility continues to be supported by a borrowing base of assets, and is secured by a pledge of the equity of each entity that holds a borrowing base asset. The facility is priced based on a grid related to the Company's senior unsecured credit ratings, with pricing at closing of LIBOR plus 1.60%. The facility has a maturity date of October 13, 2015 with a one year extension available at the Company's option. As of December 31, 2011, $223.0 million was outstanding under the facility and our total availability under the revolving credit facility was $177.0 million.

(6) The Company’s mortgage note payable due March 1, 2014 is secured by four entertainment retail centers in Ontario, Canada, which had a net book value of approximately $219.6 million at December 31, 2011. The mortgage note payable is denominated in Canadian dollars (CAD). The note had an initial balance of CAD $128.6 million and the monthly payments are based on a 20 year amortization schedule. The note requires monthly principal and interest payments of approximately CAD $977 thousand with a final principal payment at maturity of approximately CAD $85.6 million. At December 31, 2011 and 2010, the outstanding balance in Canadian dollars was CAD $97.6 million and CAD $102.6 million, respectively.

(7) The Company’s mortgage note payable due April 1, 2014 is secured by one entertainment retail center, which had a net book value of approximately $81.4 million at December 31, 2011. The note had an initial balance of $66.0 million and the monthly payments are based on a 30 year amortization schedule. The note requires monthly principal and interest payments of approximately $378 thousand with a final principal payment at maturity of approximately $55.3 million.

(8) The Company’s mortgage note payable is secured by one entertainment retail center, which had a net book value of approximately $81.4 million at December 31, 2011. The note requires monthly payments of interest only and matures on July 1, 2014.

(9) The Company’s mortgage note payable due June 5, 2015 is secured by one entertainment retail center, which had a net book value of approximately $48.9 million at December 31, 2011. The note had an initial balance of $36.0 million and the monthly payments are based on a 30 year amortization schedule. The note requires monthly principal and interest payments of approximately $206 thousand with a final principal payment at maturity of approximately $30.1 million.

(10) The Company’s mortgage notes payable due November 6, 2015 are secured by six theatre properties, which had a net book value of approximately $79.5 million at December 31, 2011. The notes had initial balances totaling $79.0 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $498 thousand with a final principal payment at maturity totaling approximately $60.7 million.

(11) The Company’s mortgage notes payable due March 6, 2016 are secured by two theatre properties, which had a net book value of approximately $34.1 million at December 31, 2011. The notes had initial balances totaling $44.0 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $279 thousand with a final principal payment at maturity totaling approximately $33.9 million.

(12) The Company’s mortgage notes payable due June 30, 2016 are secured by two theatre properties, which had a net book value of approximately $33.3 million at December 31, 2011. The notes had initial balances totaling $31.0 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $207 thousand with a final principal payment at maturity totaling approximately $24.4 million.

(13) The Company’s mortgage notes payable due October 1, 2016 are secured by four theatre properties, which had a net book value of approximately $28.1 million at December 31, 2011. The notes had initial balances totaling $27.8 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $180 thousand with a final principal payment at maturity totaling approximately $21.6 million.

(14) The Company’s mortgage notes payable due October 6, 2016 are secured by three theatre properties, which had a net book value of approximately $20.2 million at December 31, 2011. The notes had initial balances totaling $20.9 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $135 thousand with a final principal payment at maturity totaling approximately $16.2 million.

(15) The Company’s mortgage note payable due March 1, 2017 is secured by one theatre property, which had a net book value of approximately $10.7 million at December 31, 2011. The note had an initial balance of $11.6 million and the monthly payments are based on a 25 year amortization schedule. The note requires monthly principal and interest payments of approximately $75 thousand with a final principal payment at maturity of approximately $9.0 million.

(16) The Company’s mortgage note payable due April 6, 2017 is secured by one theatre property, which had a net book value of approximately $9.6 million at December 31, 2011. The note had an initial balance of $11.9 million and the monthly payments are based on a 30 year amortization schedule. The note requires monthly principal and interest payments of approximately $77 thousand with a final principal payment at maturity of approximately $9.2 million.

(17) The Company’s mortgage notes payable due May 1, 2017 are secured by five theatre properties, which had a net book value of approximately $43.6 million at December 31, 2011. The notes had initial balances totaling $55.0 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately$348 thousand with a final principal payment at maturity totaling approximately $42.4 million. The weighted average interest rate on these notes is 5.81%.

(18) On March 3, 2011, the Company assumed a mortgage note payable of $3.8 million in conjunction with the acquisition of a theatre property. The note was recorded at fair value upon acquisition which was estimated to be $4.1 million. The fair value of the note was determined by discounting the future cash flows of the note using an estimated current market rate of 5.29%. The note is due July 1, 2017 and is secured by one theatre property, which had a net book value of approximately $8.7 million at December 31, 2011. The monthly payments are based on a 25 year amortization schedule and the note requires monthly principal and interest payments of approximately $28 thousand with a final principal payment at maturity of approximately $3.2 million.

(19) The Company’s mortgage notes payable due August 1, 2017 are secured by two theatre properties, which had a net book value of approximately $23.9 million at December 31, 2011. The notes had initial balances totaling $28.0 million and the monthly payments are based on a 25 year amortization schedule. The notes require monthly principal and interest payments totaling approximately $178 thousand with a final principal payment at maturity totaling approximately $21.7 million.

(20) On February 7, 2011, the Company prepaid in full the eight term loans outstanding under this facility totaling $86.2 million. In connection with the payment in full of these term loans, the related interest rate swaps were terminated at a cost of $4.6 million. Additionally, deferred financing costs, net of accumulated amortization of $1.8 million were written-off as part of this loan prepayment.

(21) The Company’s mortgage note payable due February 1, 2018 is secured by one theatre property which had a net book value of approximately $20.7 million at December 31, 2011. The mortgage loan had an initial balance of $17.5 million and the monthly payments are based on a 20 year amortization schedule. The mortgage loan bears interest at 6.19% and requires monthly principal and interest payments of approximately $127 thousand with a final principal payment at maturity of approximately $11.6 million.

(22) The Company’s mortgage note payable due July 15, 2018 is secured by one theatre property, which had a net book value of approximately $18.8 million at December 31, 2011. The note had an initial balance of $18.9 million and the monthly payments are based on a 20 year amortization schedule. The notes require monthly principal and interest payments of approximately $151 thousand with a final principal payment at maturity of approximately $843 thousand.

(23) On June 30, 2010, the Company issued $250.0 million in senior unsecured notes due on July 15, 2020. The notes bear interest at 7.75%. Interest is payable on July 15 and January 15 of each year beginning on January 15, 2011 until the stated maturity date of July 15, 2020. The notes were issued at 98.29% of their principal amount and are guaranteed by certain of the Company’s subsidiaries. The notes contain various covenants, including: (i) a limitation on incurrence of any debt which would cause the ratio of the Company’s debt to adjusted total assets to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40%; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times; and (iv) the maintenance at all times of total unencumbered assets not less than 150% of the Company’s outstanding unsecured debt.

(24) The Company’s bond payable due October 1, 2037 is secured by one theatre, which had a net book value of approximately $10.1 million at December 31, 2011, and bears interest at a variable rate which resets on a weekly basis and was 0.11% at December 31, 2011. The bond requires monthly interest payments with a final principal payment at maturity of approximately $10.6 million.