Annual report pursuant to Section 13 and 15(d)

Lease obligations

v2.4.0.8
Lease obligations
 12 Months Ended
Dec. 31, 2012
Leases [Abstract]  
Lease obligations

5. Lease obligations

The Company has warehouse, office, furniture, fixtures and equipment leases, which expire at various dates through 2023. Under the lease agreements, the Company is also obligated to pay property taxes, insurance and maintenance costs.

Certain leases contain renewal options. Future minimum rental commitments for non-cancelable operating leases and capital leases at December 31, 2012, were as follows (in millions):

 

     Operating      Capital  

2013

    $ 50.1       $ 0.1   

2014

      42.0         —     

2015

      34.8         —     

2016

      21.8         —     

2017

      14.3         —     

Thereafter

      30.2         —     
  

 

 

     

 

 

  

Total

    $ 193.2       $ 0.1   
  

 

 

     

Less: amounts included above representing interest

         —     
     

 

 

  

Present value of net minimum lease payments

       $ 0.1   
     

 

 

  

Rental expense for the years ended December 31, 2012, 2011, and 2010, was $52.5 million, $49.2 million, and $43.5 million, respectively.

Property, plant and equipment under capital leases are included in property, plant and equipment on the accompanying consolidated balance sheets as follows (in millions):

 

     December 31,  
     2012     2011  

Equipment

    $ 7.7      $ 10.6   

Less: accumulated depreciation

      (7.4 )      (9.7 ) 
  

 

 

    

 

 

  

Total

    $ 0.3      $ 0.9