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Note 10 - Leasing Activities
 12 Months Ended
Dec. 31, 2013
Leases [Abstract]  
Leases of Lessee Disclosure [Text Block]

10.                   LEASING ACTIVITIES:


Vehicle Leases as Lessee


The Company leases vehicles, as lessee, primarily over periods ranging from one to ten years under operating lease and capital lease arrangements. Generally, the Company is required to incur all operating costs and pay a minimum rental. The Company guarantees the residual value of vehicles under operating lease and capital lease arrangements. At December 31, 2013, the Company guaranteed vehicle residual values of $3.5 million under operating lease arrangements and $18.0 million under capital lease arrangements. Historically, the Company purchases these vehicles at the end of the lease term and recognizes a gain on the subsequent sale of the vehicle. The residual values are not reflected in the future minimum lease payments for operating leases. Vehicle lease expenses were approximately $2.3 million for the year ended December 31, 2013, $2.8 million for the year ended December 31, 2012, and $2.8 million for the year ended December 31, 2011.


As discussed below, these vehicles are then subleased by the Company to customers under various agreements. Future minimum sublease rentals to be received by the Company under non-cancelable subleases, as described below, are $43.5 million.


Future minimum lease payments under capital and non-cancelable vehicle leases as of December 31, 2013, are as follows (in thousands):


   

Capital Leases

   

Operating Leases

 

2014

  $ 11,600     $ 801  

2015

    9,946       319  

2016

    8,138       73  

2017

    6,141       27  

2018

    6,736       —  

Thereafter

    6,985       —  
                 

Total minimum lease payments

  $ 49,546     $ 1,220  

Less amount representing interest

    (4,079 )        

Present value of net minimum capital lease payments

    45,467          

Less current portion

    (10,268 )        

Obligations under capital leases less current portion

  $ 35,199          

Customer Vehicle Leases as Lessor


The Company leases both owned and leased vehicles to customers primarily over periods of one to ten years under operating lease arrangements, which require a minimum rental payment and a contingent rental payment based on mileage. Rental income during the year ended December 31, 2013, consisted of minimum rental payments of approximately $112.0 million and contingent rental payments of $18.1 million. Rental income during the year ended December 31, 2012, consisted of minimum rental payments of approximately $86.3 million and contingent rental payments of $13.8 million. Rental income during the year ended December 31, 2011, consisted of minimum rental payments of approximately $68.3 million and contingent rental payments of $10.6 million. Minimum rental payments to be received for non-cancelable leases and subleases in effect at December 31, 2013, are as follows (in thousands):


2014

  $ 82,545  

2015

    74,302  

2016

    59,543  

2017

    43,737  

2018

    26,152  

Thereafter

    17,808  
         

Total

  $ 304,087  

As of December 31, 2013, the Company had $405.2 million of lease vehicles included in property and equipment, net of accumulated depreciation of $142.4 million. As of December 31, 2012, the Company had $327.4 million of lease vehicles included in property and equipment, net of accumulated depreciation of $115.6 million.


Other Leases - Land and Buildings


The Company leases various assets under operating leases with expiration dates ranging from February 2014 through April 2027. Monthly rental payments range from approximately $275 per month to $61,800 per month. Rental expense was $9.1 million for the year ended December 31, 2013, $6.8 million for the year ended December 31, 2012, and $5.7 million for the year ended December 31, 2011. Future minimum lease payments under non-cancelable leases at December 31, 2013, are as follows (in thousands):


2014

  $ 10,281  

2015

    8,156  

2016

    6,424  

2017

    4,351  

2018

    3,093  

Thereafter

    6,434  
         

Total

  $ 38,739