Note 12 – Leases

We have obligations under cancelable and non-cancelable capital and operating leases, primarily for land, office and manufacturing facilities. These leased assets are used in our operations where leasing offers advantages of operating flexibility and is less expensive than alternative types of funding. We had no obligations for capital leases at June 30, 2012. The following analysis represents property under capital leases at June 30, 2011:


	June 30, 2011
Capital lease assets	$	5,824
Less accumulated amortization		(5,824	)

Capital lease assets, net	$	0

At June 30, 2012, we are obligated for the following minimum lease commitments under terms of our operating lease agreements:


	Operating Leases
2013	$	35,244
2014		30,102
2015		26,250
2016		24,483
2017		23,950
Thereafter		18,215

Total minimum lease payments		158,244

Operating lease expense was $40.5 million, $44.8 million and $40.9 million for each of the fiscal years ended June 30, 2012, 2011 and 2010, respectively.