RENTAL EXPENSE, LEASES AND COMMITMENTS

12 Months Ended

Dec. 31, 2011

RENTAL EXPENSE, LEASES AND COMMITMENTS

RENTAL EXPENSE, LEASES AND COMMITMENTS

9. RENTAL EXPENSE, LEASES AND COMMITMENTS

The Company leases certain of its facilities and equipment and is required to pay the related taxes, insurance and certain other expenses. Rental expense was $2,084,000 and $2,623,000 for 2011 and 2010, respectively.

Future minimum rental commitments under non-cancelable operating leases for 2012 and thereafter are as follows: 2012 — $1,573,000; 2013 — $1,369,000; 2014 — $1,016,000; 2015 — $827,000; 2016 — $730,000 and thereafter — $19,906,000. Included in these amounts is $474,000 per year and approximately $19,906,000 in the “thereafter” amount related to minimum royalty payments due on an aggregates property lease in conjunction with the Pueblo, Colorado operation. Also included in these amounts is $235,000 per year related to a ground lease upon which the Company owns a building leased to a third party for approximately $345,000 per year. The ground lease runs through October 1, 2016 and contains a renewal clause. The building lease runs through January 31, 2013.