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Lease Commitments

12 Months Ended

Dec. 31, 2011

Note 12. Lease Commitments

The Company leases certain of its office and manufacturing facilities, machinery and equipment and corporate aircraft under various committed lease arrangements provided by financial institutions.

The future minimum lease payments from continuing operations, by year and in the aggregate, under capital leases and under noncancelable operating leases with initial or remaining noncancelable lease terms in excess of one year, consisted of the following at December 31, 2011:


	Capital Leases			Noncancelable Operating Leases
	(Dollars in millions)
2012	$	2.1		$	50.4
2013		1.9			41.4
2014		3.0			29.9
2015		2.9			22.9
2016		2.9			19.2
Thereafter		20.4			55.1

Total minimum payments		33.2		$	218.9

Amounts representing interest		(9.5	)

Present value of net minimum lease payments		23.7
Current portion of capital lease obligations		(1.6	)

Long-term portion of capital lease obligations	$	22.1

Net rent expense for 2011, 2010 and 2009 was $57.6 million, $49.5 million and $46.2 million, respectively. These amounts are net of immaterial amounts of sublease rental income.

- 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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