Leasing Arrangements

12 Months Ended

Dec. 31, 2013

Leasing Arrangements

Leasing Arrangements

Note 6 - Leasing Arrangements

On February 1, 2013 we exercised our purchase option on a capital lease for a building.  In March 2013 we sold the building.  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

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 $16.1 million in 2013, $15.4 million in 2012 and $15.2 million in 2011.

Scheduled future minimum lease payments as of December 31, 2013 were:

(In millions)
Payable during the years ending December 31:	Operating Leases
2014	9.1
2015	5.3
2016	4.1
2017	2.2
2018	1.8
Thereafter	9.3
Total minimum lease payments	$	31.8