Leasing Arrangements

12 Months Ended

Dec. 31, 2012

Leasing Arrangements

Leasing Arrangements

Note 7 - Leasing Arrangements

We have a capital lease for a building, with an obligation of $1.8 million as of December 31, 2012 that contains a purchase option which was exercised on February 1, 2013.  We have a contract to sell the building in March 2013.  The expected gain of the sale will not be material.  The related assets, accumulated depreciation, and related liability balances under capital leasing arrangements, as of December 31, 2012 and 2011, were:

(In millions)	2012			2011
Property, plant and equipment	$	3.7		$	3.7
Less accumulated depreciation	(1.6		)	(1.6		)
Net property, plant and equipment	$	2.1		$	2.1
Capital lease obligations	$	1.8		$	2.0
Less current maturities	(1.8		)	(0.2		)
Long-term capital lease obligations, net	$	—		$	1.8

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 $15.4 million in 2012, $15.2 million in 2011 and $15.0 million in 2010.

Scheduled future minimum lease payments as of December 31, 2012 were:

(In millions)	Type of Lease
Payable during the years ending December 31:	Capital		Operating
2013	$	1.8	$	9.1
2014	—		5.8
2015	—		2.9
2016	—		2.2
2017	—		1.9
Thereafter	—		10.5
Total minimum lease payments	1.8		$	32.4
Less amounts representing interest	—
Present value of future minimum capital lease payments	$	1.8