Overstock.com 2011 Annual Report Download - page 123

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Table of Contents
Overstock.com, Inc.
Notes to Consolidated Financial Statements (Continued)
13. COMMITMENTS AND CONTINGENCIES
Summary of future minimum lease payments for all operating leases
Minimum future payments under all operating leases as of December 31, 2011, are as follows (in thousands):
Payments due by period
2012 $ 8,916
2013 8,206
2014 8,404
2015 6,818
2016 1,381
Thereafter 183
$ 33,908
Rental expense for operating leases totaled $8.9 million, $8.0 million and $7.5 million for the years ended December 31, 2011, 2010 and 2009,
respectively. Estimated sublease income of $584,000 is expected over the next five years of which $162,000 is anticipated to be received in the next
12 months.
Naming rights
During 2011, we entered into a six-year agreement with the Oakland-Alameda County Coliseum Authority ("OACCA") for the right to name Oakland
Alameda County Coliseum. Amounts represent annual payments due OACCA for the naming rights and we may terminate this agreement at our sole option,
subject to its termination fee.
Minimum future payments under naming rights agreement as of December 31, 2011, are as follows (in thousands):
Payments due by period
2012 $ 1,236
2013 1,273
2014 1,311
2015 1,351
2016 1,391
$ 6,562
Legal Proceedings
From time to time, we are involved in litigation concerning consumer protection, employment, intellectual property and other commercial matters related
to the conduct and operation of our business and the sale of products on our Website. In connection with such litigation, we may be subject to significant
damages. In some instances other parties may have contractual indemnification obligations to us. However, such contractual obligations may prove
unenforceable or non-collectible, and in the event we cannot enforce or collect on indemnification obligations, we may bear the full responsibility for
damages, fees and costs resulting from such litigation. We may also be subject to equitable remedies and penalties. Such litigation could be costly and time
consuming and could divert
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