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Commitments
12 Months Ended
Dec. 31, 2011
Commitments [Abstract]  
Commitments

Note 7—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, 2011, 2010 and 2009 was $10.3 million, $11.0 million and $10.6 million, respectively.

 

The Company is obligated under a capital lease that expires in 2023. As of December 31, 2011, property, plant and equipment include the following amounts under capital leases (in thousands):

 

Buildings and building improvements   $ 12,207  
Less accumulated depreciation     (3,756 )
         
    $ 8,451  
         

 

Capital lease obligations outstanding consist of the following:

 

    December 31,  
(in thousands)   2011     2010  
             
Capital lease obligations   $ 11,019     $ 11,381  
Less current installments     419       362  
                 
Capital lease obligations, less current installments   $ 10,600     $ 11,019  
                 

 

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  
             
2012   $ 1,520     $ 8,801  
2013     1,550       6,177  
2014     1,581       5,032  
2015     1,613       4,668  
2016     1,645       3,420  
Thereafter     11,051       3,517  
                 
Total minimum lease payments   $ 18,960     $ 31,615  
                 
Less: amount representing interest     7,941          
                 
Present value of minimum lease payments     11,019          
Less: current installments     419          
                 
Capital lease obligations, less current installments   $ 10,600          
                 

 

 

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.