Operating Leases

12 Months Ended

Dec. 31, 2011

13. Operating Leases

The Company leases certain property and equipment under cancelable and non-cancelable agreements including office space in Texas, Utah, Nevada, Arizona and California.

Minimum annual rentals for all operating leases having initial non-cancelable lease terms in excess of one year are as follows (in thousands):

Years Ending December 31,
2012	$	771
2013		662
2014		650
2015		615
2016		569
Thereafter		2,866
Total future minimum rental payments	$	6,133

Total rent expense for all operating leases amounted to approximately $1,351,000, $1,229,000, and $765,000 in fiscal years 2011, 2010, and 2009, respectively.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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