Operating Leases

12 Months Ended

Dec. 31, 2013

Note 20: Operating Leases

Operating lease expense incurred primarily for manufacturing and office space, machinery, and equipment was $26.5 million, $23.6 million, and $19.7 million in 2013, 2012, and 2011, respectively.

Minimum annual lease payments for noncancelable operating leases in effect at December 31, 2013 are as follows (in thousands):


2014	$	17,664
2015		12,942
2016		10,506
2017		6,995
2018		4,938
Thereafter		21,123

	$	74,168

Certain of our operating leases include step rent provisions and rent escalations. We include these step rent provisions and rent escalations in our minimum lease payments obligations and recognize them as a component of rental expense on a straight-line basis over the minimum lease term.

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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