v2.4.0.6
Note 7 - Lease Obligations and Long-Term Debt
 6 Months Ended
Dec. 31, 2012
Leases of Lessee Disclosure [Text Block]
7.            Lease Obligations and Long-Term Debt

We lease certain revenue and service equipment under long-term lease agreements, payable in monthly installments.

Equipment obtained under a capital lease is reflected on our balance sheet as owned and the related leases mature at various dates through 2019.

Assets held under operating leases are not recorded on the balance sheet. We lease revenue and service equipment under non-cancellable operating leases expiring at various dates through 2019.

Long-Term Debt

We had outstanding borrowings, excluding capital leases, of $29.3 million at December 31, 2012 and did not have outstanding borrowings at June 30, 2012.

Future minimum lease payments relating to capital leases and operating leases as of December 31, 2012 (in thousands):

   
Capital
Leases
   
Operating
Leases
 
2013
    $31,111       $6,629  
2014
    50,326       9,389  
2015
    52,830       12,668  
2016
    12,357       2,546  
2017
    10,362       2,546  
Thereafter
    64,520       12,060  
Total minimum lease payments
    221,506       $45,838  
Less amounts representing interest
    12,906          
Present value of minimum lease payments
    208,600          
Less current maturities
    27,469          
Non-current portion
    $181,131