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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2011
Commitments and Contingencies [Abstract]  
Commitments and Contingencies
18. Commitments and Contingencies:

Operating Leases

The Company leases certain warehouses, sales offices, machinery and equipment and vehicles under long-term operating lease agreements. The leases expire at various dates through 2018. In some cases the leases include options to extend. Rent and lease expense was $6,510, $4,495 and $4,986 for the years ended December 31, 2011, 2010 and 2009, respectively.

The future minimum lease payments as of December 31, 2011 are as follows:

 

                                                         
    2012     2013     2014     2015     2016     Thereafter     Total  

Lease payments

   $ 4,540     $ 3,313     $ 2,311     $ 1,755     $ 1,590     $ 1,855     $ 15,364  

Capital Leases

The Company leases a warehouse in Streetsboro, Ohio under a capital lease agreement. The Company has signed a purchase agreement to purchase the facility at the end of the lease for $1.3 million. The capital lease obligation is included in “Current portion of short-term debt” and “Long-term debt” on the accompanying Consolidated Balance Sheet.

The capital lease obligation as of December 31, 2011 is as follows:

 

         

Total capital lease obligation

   $  1,587  

Less: interest

     (10 ) 
   

 

 

  

Capital lease obligation

     1,577  
   

 

 

  

Less: current

     (157 ) 
   

 

 

  

Long term capital lease

   $ 1,420  
   

 

 

  

Sublease arrangements

At the end of 2011, the Company acquired a second building in Mount Sterling, Kentucky. Pursuant to the terms of the purchase agreement, the existing tenant will continue to sublease half of the facility for $12 per month until December, 2013. At the end of the sub-lease there is an option for a one-year extension.

 

Commitments and Contingencies

The Company is party to various legal actions that it believes are ordinary in nature and incidental to the operation of its business. In the opinion of management, the outcome of the proceedings to which the Company is currently a party will not have a material adverse effect upon its results of operations, financial condition or cash flows.

In the normal course of business, the Company periodically enters into agreements that incorporate indemnification provisions. While the maximum amount to which the Company may be exposed under such agreements cannot be estimated, it is the opinion of management that these indemnifications are not expected to have a material adverse effect on the Company’s results of operations or financial condition.

At December 31, 2011, approximately 376 of the hourly plant personnel at our Detroit, Michigan; Duluth, Minnesota; Indianapolis, Indiana; Locust, North Carolina; Milan, Illinois; Minneapolis, Minnesota; Romeoville, Illinois; and St. Paul, Minnesota facilities are represented by nine separate collective bargaining units. The collective bargaining agreements covering our Locust, Minneapolis plate and Detroit facilities’ workers expire on March 4, 2012, March 31, 2012, and August 31, 2012, respectively. Collective bargaining agreements covering our St. Paul, Romeoville and Milan facilities workers expire May 25, 2013, May 31, 2013 and August 12, 2013, respectively. The collective bargaining agreement covering our Duluth facility expires on December 21, 2014. The collective bargaining agreements covering our Minneapolis coil and Indianapolis facility workers expire September 30, 2015 and January 24, 2016, respectively.