Annual report pursuant to Section 13 and 15(d)

Lease Obligations

v3.3.1.900
Lease Obligations
12 Months Ended
Dec. 31, 2015
Leases [Abstract]  
Lease Obligations

5. Lease obligations

The Company has warehouse, office, furniture, fixtures and equipment leases, which expire at various dates through 2025. 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 at December 31, 2015, were as follows (in millions):

 

 

 

Operating

 

2016

 

$

55.5

 

2017

 

 

44.0

 

2018

 

 

35.4

 

2019

 

 

25.7

 

2020

 

 

20.9

 

Thereafter

 

 

13.6

 

Total

 

$

195.1

 

 

The Company recognizes rental expense on a straight-line basis. Rental expense for the years ended December 31, 2015, 2014, and 2013, was $58.0 million, $60.0 million, and $57.5 million, respectively.

There was no material property, plant and equipment under capital leases included in property, plant and equipment on the accompanying consolidated balance sheets at December 31, 2015 and December 31, 2014.