Leasing Arrangements

12 Months Ended

Dec. 31, 2011

Leasing Arrangements

Leasing Arrangements

Note 7 - Leasing Arrangements

We have a capital lease for a building, with an obligation of $2.0 million as of December 31, 2011 that contains a purchase option which can be exercised on or after December 31, 2012.  The related assets, accumulated depreciation, and related liability balances under capital leasing arrangements, as of December 31, 2011 and 2010, were:

(In millions)	2011			2010
Property, plant and equipment	$	3.7		$	3.7
Less accumulated depreciation	(1.6		)	(1.5		)
Net property, plant and equipment	$	2.1		$	2.2
Capital lease obligations	$	2.0		$	2.2
Less current maturities	(0.2		)	(0.2		)
Long-term capital lease obligations, net	$	1.8		$	2.0

In addition to the capital lease above, certain sales and administrative offices, data processing equipment and manufacturing facilities are leased under operating leases.  We recognize rental expense on operating leases straight-line over the term of a lease.  Total rental expense was $15.2 million in 2011, $15.0 million in 2010 and $13.1 million in 2009.

Scheduled future minimum lease payments as of December 31, 2011 were:

(In millions)	Type of Lease
Payable during the years ending December 31:	Capital		Operating
2012	$	0.3	$	9.8
2013	—		7.6
2014	—		6.7
2015	—		3.6
2016	—		3.4
Thereafter	1.8		19.4
Total minimum lease payments	2.1		$	50.5
Less amounts representing interest	0.1
Present value of future minimum capital lease payments	$	2.0