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Commitments
12 Months Ended
Dec. 31, 2012
Commitments [Abstract]  
Commitments

Note 6—Commitments

 

The Company leases certain manufacturing equipment, office equipment, vehicles and office, warehouse and manufacturing facilities under operating leases. Some of the leases provide for escalation of the lease payments as maintenance costs and taxes increase. The leases expire at various times through 2020. Leases for office space and manufacturing facilities generally contain renewal options. Rental expense for the years ended December 31, 2012, 2011 and 2010 was $9.1 million, $10.3 million and $11.0 million, respectively.

 

The Company is obligated under a capital lease that expires in 2023. As of December 31, 2012, property, plant and equipment include the following amounts under capital leases (in thousands):

 

Buildings and building improvements   $ 12,207  
Less accumulated depreciation     (4,507 )
    $ 7,700  

 

Capital lease obligations outstanding consist of the following:
    December 31,  
(in thousands)   2012     2011  
Capital lease obligations   $ 10,600     $ 11,019  
Less current installments     497       419  
Capital lease obligations, less current installments   $ 10,103     $ 10,600  

 

Future minimum lease payments under noncancelable operating leases and future minimum capital lease payments are as follows (in thousands):

 

    Capital     Operating  
Year ending December 31,   Leases     Leases  
2013   $ 1,550     $ 6,817  
2014     1,581       5,855  
2015     1,613       5,492  
2016     1,645       3,644  
2017     1,678       866  
Thereafter     9,373       2,709  
Total minimum lease payments   $ 17,440     $ 25,383  
Less: amount representing interest     6,840          
Present value of minimum lease payments     10,600          
Less: current installments     497          
Capital lease obligations, less current installments   $ 10,103          

 

The Company enters into contractual commitments to deliver products and services in the ordinary course of business. The Company believes that all such contractual commitments will be performed or renegotiated such that no material adverse financial impact on the Company's financial position, results of operations or liquidity will result from these commitments.