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Properties And Equipment, Net
 12 Months Ended
Dec. 31, 2014
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)
2014
 
2013
Land
$
0.3

 
$
0.3

Buildings and improvements
29.1

 
27.0

Machinery and equipment
164.7

 
158.2

Total property and equipment, at cost
194.1

 
185.5

Less: Accumulated depreciation
124.6

 
121.7

Properties and equipment, net
$
69.5

 
$
63.8


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 deferred gain balance was $16.5 million and $18.4 million at December 31, 2014 and 2013, respectively. Of these amounts, $1.9 million and $1.9 million, was included within Other current liabilities on the Consolidated Balance Sheets at December 31, 2014 and 2013, 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 $8.2 million in 2014, $8.5 million in 2013 and $8.9 million in 2012. Sublease income and contingent rentals relating to operating leases were insignificant. At December 31, 2014, minimum future rental commitments under operating leases having non-cancelable lease terms in excess of one year aggregated $48.7 million and were payable as follows: $7.7 million in 2015, $7.1 million in 2016, $6.6 million in 2017, $5.1 million in 2018, $5.1 million in 2019 and $17.1 million thereafter.