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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2011
Commitments and Contingencies [Abstract]  
Minimum rental commitments under non-cancelable leases
                                                         

(In millions)

  2012     2013     2014     2015     2016     Thereafter     Total  

Minimum lease payments (1)

  $ 33.9     $ 42.5     $ 54.3     $ 49.3     $ 44.6     $ 450.5     $ 675.1  

Less: income from subleases

    (0.5     (0.5     (0.4                       (1.4
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net minimum lease payments

  $ 33.4     $ 42.0     $ 53.9     $ 49.3     $ 44.6     $ 450.5     $ 673.7  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)

Includes future minimum rental commitments related to leases executed for two office buildings to be built in Cambridge, Massachusetts with a planned occupancy during the second half of 2013. The leases both have 15 year terms and we have options to extend the term of each lease for two additional five-year terms. Future minimum rental commitments under these leases will total approximately $340.0 million over the initial 15 year lease terms.

 

 

Balances also include remaining total minimum lease payments through 2025, totaling approximately $240.0 million, related to our current principal executive offices in Weston, Massachusetts, which we expect to vacate upon completion of the two new buildings in Cambridge Massachusetts.

 

 

For additional information related to these transactions, please read Note 11, Property, Plant and Equipment to these consolidated financial statements.