Lease Agreements

12 Months Ended

Dec. 31, 2013

The Company has operating and capital leases covering certain warehouse facilities, equipment, automobiles and trucks, with the lapse of time as the basis for all rental payments.

Future minimum rental payments under operating and capital leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2013, are as follows:



	Capital		Operating
2014	$	400	$	13,462
2015	395		11,734
2016	203		10,719
2017	—		9,191
2018	—		8,051
Later years	—		19,895
Total future minimum rental payments	$	998	$	73,052

Total rental payments charged to expense were $15,062 in 2013, $15,579 in 2012, and $12,362 in 2011. Lease extrication charges of $1,448 associated with restructuring activities in the Metals segment were included in total rental payments charged to expense in 2013 within "Restructuring Charges" in the Consolidated Statement of Operations. There were no lease extrication charges in 2012 and 2011. Total gross value of property, plant and equipment under capital leases was $1,660 and $1,895 in 2013 and 2012, respectively.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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