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Capital Lease Obligations and Letters of Credit

12 Months Ended

Dec. 31, 2011

Capital Lease Obligations and Letters of Credit [Abstract]

Capital Lease Obligations and Letters of Credit

7.	Capital Lease Obligations and Letters of Credit

(a) Capital Lease Obligation

Capital lease obligations consist of the following at December 31, 2011 and 2010 (in thousands):


		December 31
		2011				2010
Capital lease obligations		$	569			$	304
Less current maturities			269				166

		$	300			$	138

Capital lease obligations consist primarily of office equipment leases that expire at various dates through October 2016. A summary of future minimum lease payments under capital leases at December 31, 2011 is as follows (in thousands):


2012		$	269
2013			195
2014			97
2015			4
2016			4

		$	569

(b) Letters of Credit

At each December 31, 2011 and 2010, the Company had one outstanding letter of credit of approximately $0.1 million as security for one lease. The Company segregated cash in a separate bank account to collateralize the letters of credit. This letter of credit expires in October 2012, and can be extended for one year.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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