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Commitments

12 Months Ended

Mar. 31, 2012

NOTE 8 — COMMITMENTS

Leases: Transcat leases facilities, equipment, and vehicles under non-cancelable operating leases. Total rental expense was approximately $1.6 million in fiscal year 2012, $1.4 million in fiscal year 2011 and $1.3 million in fiscal year 2010. The minimum future annual rental payments under the non-cancelable leases at March 31, 2012 are as follows (in millions):


Fiscal Year
2013	$	1.4
2014		1.1
2015		0.9
2016		0.8
2017		0.3
Thereafter		1.2

Total minimum lease payments	$	5.7

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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