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Three-Year Review

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Years ended December 31, 2005 and 2004 (in thousands of dollars, except per share amounts)

12. LEASE COMMITMENTS:

The Company is committed under long-term leases as follows:

  1. The rental of office space, under various long-term operating leases with remaining terms of up to 13 years and a capital lease for an initial term of 25 years with an additional 10-year renewal option.
  2. The rental of computer hardware and software for terms of one to three years.

Current lease obligations over the remaining terms of the operating leases are as follows:
Years ending December 31:
2006
$ 12,893
2007
9,838
2008
4,791
2009
4,001
2010
3,936
Thereafter
19,886
$ 55,345


The obligations under capital leases are as follows:
2005
2004
Total minimum lease payments
$ 1,893
$ 2,138
Less amounts representing interest
157
323
1,736
1,815
Less current portion
833
533
$  903
$ 1,282

Interest on the obligations under capital leases amounted to $160 (2004 - $204).


Current lease obligations over the remaining terms of the capital leases are as follows:
Years ending December 31:
2006
$  942
2007
815
2008
136
2009
–
Thereafter
–
$ 1,893