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beatandraise.com

1.0.0.3 false Commitments false 1 $ false false iso4217_USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 iso4217_USD_per_shares Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares 0 shares Standard http://www.xbrl.org/2003/instance shares 0 5 Commitments 3 us-gaap_CommitmentsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div> Note 18. Commitments At December 31, 2009, the Company had the following future minimum payments due under non-cancelable agreements:   <table cellspacing="0" cellpadding="0" width="92%" align="center" border="0"> <tr> <td width="53%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Total</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Capital Leases</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Operating Leases</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Sponsorship, Licensing & Other</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> 2010 </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">283,987</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,260</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">25,978</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">250,749</td> </tr> <tr> <td valign="top"> 2011 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">146,147</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,455</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">17,710</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">123,982</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> 2012 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">108,377</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,221</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15,358</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">89,798</td> </tr> <tr> <td valign="top"> 2013 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">59,947</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">36,838</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,281</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12,828</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> 2014 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13,998</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8,371</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5,627</td> </tr> <tr> <td valign="top"> Thereafter </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25,579</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">22,859</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,720</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">638,035</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">51,774</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">100,557</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">485,704</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom">  </td> </tr> </table> Included in the table above are capital leases with imputed interest expense of $7,929 and a net present value of minimum lease payments of $43,845. In addition, at December 31, 2009, $63,616 of the future minimum payments in the table above for leases, sponsorship, licensing and other agreements was accrued. Consolidated rental expense for the Company’s office space, which is recognized on a straight line basis over the life of the lease, was approximately $39,586, $42,905 and $35,614 for the years ended December 31, 2009, 2008 and 2007, respectively. Consolidated lease expense for automobiles, computer equipment and office equipment was $9,137, $7,694 and $7,679 for the years ended December 31, 2009, 2008 and 2007, respectively. In January 2003, MasterCard purchased a building in Kansas City, Missouri for approximately $23,572. The building is a co-processing data center which replaced a back-up data center in Lake Success, New York. During 2003, MasterCard entered into agreements with the City of Kansas City for (i) the sale-leaseback of the building and related equipment which totaled $36,382 and (ii) the purchase of municipal bonds for the same amount which have been classified as investment securities held-to-maturity. The agreements enabled MasterCard to secure state and local financial benefits. No gain or loss was recorded in connection with the agreements. The leaseback has been accounted for as a capital lease as the agreement contains a bargain purchase option at the end of the ten-year lease term on April 1, 2013. The building and related equipment are being depreciated over their estimated economic life in accordance with the Company’s policy. Rent of $1,819 is due annually and is equal to the interest due on the municipal bonds. The future minimum lease payments are $43,962 and are included in the table above. A portion of the building was subleased to the original building owner for a five-year term with a renewal option. As of December 31, 2009, the future minimum sublease rental income is $3,312. </div> Note 18. Commitments At December 31, 2009, the Company had the following future minimum payments due under non-cancelable false false No definition available. No authoritative reference available. false false 1 1 false UnKnown UnKnown UnKnown false true