56 Orbit G arant 2012 annual rep O rt N OTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) For the years ended June 30, 2012 and 2011 (in thousands of Canadian dollars, except for earnings per share and option data) Recognized in Business June 30 statements of acquisitions June 30 2010 earnings (Note 2) 2011 $ $ $ $ Deferred income tax assets: Share issue costs 444 (227) — 217 Long-term investments 13 (13) — — Total deferred income tax assets 457 (240) — 217 Deferred income tax liabilities: Property, plant and equipment 1,313 (215) — 1,098 Intangible assets 479 (370) 1,625 1,734 Total deferred income tax liabilities 1,792 (585) 1,625 2,832 Net deferred income tax liabilities 1,335 (345) 1,625 2,615 16. ADDITIONAL INFORMATION RELATING TO T h E STATEMENT OF CAS h FLO w S Changes in non-cash operating working capital items: June 30 June 30 2012 2011 $ $ Accounts receivable 2,688 (10,577) Inventories (3,980) (10,068) Prepaid expenses (389) (228) Accounts payable and accrued liabilities (5,889) 179 (7,570) (20,694) 17. COMMITMENTS The Company has entered into operating lease agreements expiring in 2017 which call for lease payments of $612 for the rental of vehicles. The Company has also entered into lease agreements for offces expiring in 2021 for minimum lease payments of $1,535. None of the operating lease agreements contain renewal or purchase options or escalation clauses or any restrictions. The minimum l ease payments under lease agreements for the next fve years are detailed as follows: $ 2013 468 2014 393 2015 297 2016 208 2017 188 Subsequent years 593 Lease payments recognised as an expense during the year amount to $369 (year ended June 30, 2011: $153). This amount consists of minimum lease payments. No sublease payments or contingent rent payments were made or received. No sublease income is expected as all assets held under lease agreements are used exclusively by the Company.