IPSCO 2006 Annual Report

Form 10K - Note 21 page 1/1

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21 Commitments

a) The Company and its subsidiaries have lease commitments on property for the period to 2015. The payments required by these leases are as follows:

2007	$	8,698
2008	6,461
2009	2,371
2010	1,608
2011	1,138
	20,276
2012 - 2015	3,367
	$	23,643

Rental expenses incurred under operating leases during 2006, 2005, and 2004 were $8,580, $8,485, and $9,202 respectively.

b) The Company and its subsidiaries have commitments under service and supply contracts for the period to 2018. Payments required under these contracts are as follows:

2007	$	74,934
2008	61,410
2009	43,147
2010	24,513
2011	12,913
	216,917
2012 - 2018	49,070
	$	265,987

Payments made in relation to these commitments during 2006, 2005, and 2004 were $116,001, $65,053, and $63,016, respectively.

c) At December 31, 2006, commitments to complete capital programs in progress total $119,560.

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This is an interactive electronic version of IPSCO's 2006 Annual Report, and it is intended to be complete and accurate. The contents of this version are qualified in their entirety by reference to the printed version. A reproduction of the printed version is available in PDF format on this Web site.