Note 16 - Lease Commitments

12 Months Ended

Jan. 02, 2016

16. Lease Commitments

The company leases certain office and warehouse space as well as certain machinery and equipment under non-cancellable operating leases. Rent expense under these leases was approximately $11.1 million in 2015, $8.9 million in 2014 and $8.9 million in 2013.

Rent expense is recognized on a straight-line basis over the term of the leases. The difference between straight-line basis rent and the amount paid has been recorded as accrued lease obligations. The company also has leases that have lease renewal provisions. As of January 2, 2016, all operating leases outstanding were with third parties. The company did not have any capital leases as of January 2, 2016

Future minimum payments for all non-cancellable operating leases with initial terms of one year or more at January 2, 2016 are as follows (in thousands):

2016	$	8,886
2017		5,227
2018		3,984
2019		3,358
2020		3,163
2021 and thereafter		10,021
	$	34,639