eBay 2011 Annual Report Download - page 122

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Future Maturities
Expected future principal maturities as of December 31, 2011 is as follows (in thousands):
Note 13 – Commitments and Contingencies
Commitments
As of December 31, 2011 , approximately $9.6 billion of unused credit was available to Bill Me Later accountholders. The individual lines
of credit that make up this unused credit are subject to periodic review and termination by the chartered financial institution that is the issuer of
Bill Me Later credit products based on, among other things, account usage and customer creditworthiness. Currently, when a consumer makes a
purchase using a Bill Me Later credit product, the chartered financial institution extends credit to the consumer, funds the extension of credit at the
point of sale and advances funds to the merchant. We subsequently purchase the receivables related to the consumer loans extended by the
chartered financial institution and, as a result of the purchase, bear the risk of loss in the event of loan defaults. Although the chartered financial
institution continues to own each customer account, we own the related receivable, and Bill Me Later is responsible for all servicing functions
related to the account.
Lease Arrangements
We have lease obligations under certain non-cancelable operating leases. Future minimum rental payments under our non-cancelable
operating leases at December 31, 2011 are as follows (in thousands):
Rent expense in the years ended December 31, 2011 , 2010 and 2009 totaled $130.9 million , $112.6 million and $92.3 million ,
respectively.
Litigation and Other Legal Matters
Overview
We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be
reasonably estimated, we accrue the estimated liability in our financial statements. If only a range of estimated losses can be determined, we
accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better
estimate than any other amount, we accrue the low end of the range. Amounts
F-30
Fiscal Years:
2012
$
564,601
2013
412,942
2014
16,363
2015
600,480
2016
10
Thereafter
500,000
$
2,094,396
Year Ended December 31,
Leases
2012
$
94,853
2013
66,771
2014
49,820
2015
37,587
2016
23,730
Thereafter
38,693
Total minimum lease payments
$
311,454