Leasehold commitments

12 Months Ended

Dec. 31, 2011

19.

Leasehold commitments

As of December 31, 2011, a summary of leasehold commitments is as follows:

(In thousands of US$)
Year
2012			780
2013			509
2014			478
2015			337
2016			138
Thereafter			11
Total minimum payments ⁽¹⁾			2,253

⁽¹⁾

Minimum payments have not been reduced by minimum sublease rentals of $1,704 thousand due in the future under noncancelable subleases.

The following table presents an analysis of all operating leases:

	2011			2010		2009
Rent expense		1,403			875		770
Less: Sublease rentals		(129	)		-		-
		1,274			875		770

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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