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Properties And Equipment, Net
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
Properties And Equipment, Net
PROPERTIES AND EQUIPMENT, NET
The following table summarizes the components of properties and equipment, net:
(in millions)
2013
 
2012
Land
$
0.3

 
$
0.3

Buildings and improvements
27.0

 
23.7

Machinery and equipment
158.2

 
148.4

Total property and equipment, at cost
185.5

 
172.4

Less: Accumulated depreciation
(121.7
)
 
(113.1
)
Properties and equipment, net
$
63.8

 
$
59.3


In July 2008, the Company entered into sale-leaseback transactions for its Elgin and University Park, Illinois plant locations. Net proceeds received were $35.8 million, resulting in a deferred gain of $29.0 million. The deferred gain is being amortized over the 15-year life of the respective leases. The balance was $16.5 million and $18.4 million at December 31, 2013 and 2012, respectively.
The Company leases certain facilities and equipment under operating leases, some of which contain options to renew. Total rental expense on all operating leases was $8.5 million in 2013, $8.9 million in 2012 and $8.8 million in 2011. Sublease income and contingent rentals relating to operating leases were insignificant. At December 31, 2013, minimum future rental commitments under operating leases having non-cancelable lease terms in excess of one year aggregated $51.8 million payable as follows: $7.5 million in 2014, $6.2 million in 2015, $6.3 million in 2016, $6.0 million in 2017, $4.8 million in 2018 and $21.0 million thereafter.