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Note 11 - Commitments and Contingencies
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
11.
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
2024.
In some cases, the leases include options to extend. Rent and lease expense was
$9.1
million,
$8.7
million and
$8.2
million for the years ended
December
31,
2016,
2015
and
2014,
respectively.
 
The future annual minimum lease payments as of
December
31,
2016
are as follows:
 
(in thousands)
 
2017
 
 
2018
 
 
2019
 
 
2020
 
 
2021
 
 
Thereafter
 
 
Total
 
Lease payments
  $
6,634
    $
5,804
    $
4,511
    $
3,661
    $
2,574
    $
3,282
    $
26,466
 
 
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. During
2016,
the Company paid
$1.7
million related to an arbitration decision for a
2015
foreign steel purchase. The amount was included in “Cost of materials sold” in the Consolidated Statements of Comprehensive Income. We have not incurred any charges of this nature in the comparable periods.
 
 
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,
2016,
approximately
280
of the hourly plant personnel are represented by
nine
separate collective bargaining units. The table below shows the expiration dates of the collective bargaining agreements.
 
Facility
Expiration date
Minneapolis plate, Minnesota
March
31,
2017
Detroit, Michigan
August
31,
2017
Duluth, Minnesota
December
21,
2017
St. Paul, Minnesota
May
25,
2018
Milan, Illinois
August
12,
2018
Locust, North Carolina
March
4,
2020
Romeoville, Illinois
May
31,
2020
Minneapolis coil, Minnesota
September
30,
2020
Indianapolis, Indiana
January
29,
2021