Lease Obligations

12 Months Ended

Dec. 31, 2013

Leases [Abstract]

Lease Obligations

LEASE OBLIGATIONS

Assets recorded under capital lease obligations of $3.6 million and $3.9 million at December 31, 2013 and 2012, respectively, are included in property and equipment. Accumulated depreciation related to such assets was $1.6 million and $1.5 million at December 31, 2013 and 2012, respectively. Depreciation on the assets recorded under capital leases is included in depreciation expense.

The Company leases office space under operating leases, some of which include renewal options. Rental expense for the years ended December 31, 2013, 2012 and 2011 was approximately $1.7 million, $1.8 million, and $1.7 million, respectively. The Company received income from subleases of approximately $0.1 million in the year ended December 31, 2013 and approximately $0.3 million in each of the years ended December 31, 2012 and 2011.

Future minimum lease payments for the five years subsequent to December 31, 2013, thereafter and in the aggregate are as follows (in thousands):

	Capital Leases			Operating Leases
2014	$	420		$	783
2015	403			706
2016	385			505
2017	412			79
2018	425			9
Thereafter	1,417			—
Total minimum lease payments	3,462			$	2,082
Less amount representing interest	(786		)
Present value of net minimum lease payments	$	2,676

Capital leases are comprised mostly of a sale leaseback agreement entered into by Seitel Canada in 2002 on a building and land located in Calgary, Alberta, Canada. The term of the lease is 20 years with remaining lease payments of: $409,500 (Canadian dollars) in years 11-15 and $452,340 (Canadian dollars) in years 16-20.