Rental And Lease Information

12 Months Ended

Dec. 31, 2012

Rental and Lease Information [Abstract]

Rental and Lease Information

Note 19.

Rental and Lease Information

The Company has capital and operating leases for certain plant facilities, office facilities, and equipment.  Rental expense for the years ended December 31, 2012, 2011 and 2010 amounted to $3,762,000, $4,367,000 and $3,674,000, respectively. Generally, land and building leases include escalation clauses. 

The following is a schedule, by year, of the future minimum payments under capital and operating leases, together with the present value of the net minimum payments as of December 31, 2012:

		Capital		Operating
Year ending December 31,		Leases		Leases
		In thousands
2013	$	37	$	3,138
2014		23		2,752
2015		5		2,051
2016		-		1,525
2017 and thereafter		-		2,998
Total minimum lease payments		65	$	12,464
Less amount representing interest		3
Total present value of minimum payments		62
Less current portion of such obligations		35
Long-term obligations with interest rates ranging from 1.74% to 8.46%	$	27

Assets recorded under capital leases are as follows:

		2012		2011
		In thousands
Land improvements	$	6,373	$	6,372
Machinery and equipment at cost		6,395		6,399
Buildings		399		399
		13,167		13,170
Less accumulated amortization		12,556		11,019
Net capital lease assets	$	611	$	2,151

Included in the Company’s “Other Income” in the Consolidated Statements of Operations are gains recognized in connection with the Company’s 2008 sale-leaseback transaction.  During 2011, the Company provided the lessor of the Houston, TX property with written notice of the Company’s termination of the lease in its entirety effective April 30, 2012.  As a result of this termination, the Company recognized $577,000 of previously deferred gain and is recorded in other income in the Consolidated Statement of Operations.  Including this amount, the Company recorded approximately $456,000, $1,081,000 and $215,000 within “Other Income” related to this transaction for the periods ended December 31, 2012, 2011 and 2010, respectively.