XML 45 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1
Leases
12 Months Ended
Dec. 31, 2017
Leases [Abstract]  
Leases
Leases
 
The Company leases certain property and equipment under operating leases. Rental expense charged to continuing operations for fiscal years 2017, 2016 and 2015 amounted to $54.0 million, $52.0 million, and $52.4 million, respectively. Minimum rental commitments under noncancelable operating leases are as follows: $57.0 million in fiscal year 2018, $37.2 million in fiscal year 2019, $27.4 million in fiscal year 2020, $22.0 million in fiscal year 2021, $13.5 million in fiscal year 2022 and $59.6 million in fiscal year 2023 and thereafter.

On August 22, 2013, the Company sold one of its facilities located in Boston, Massachusetts for net proceeds of $47.6 million. Simultaneously with the closing of the sale of the property, the Company entered into a lease agreement to lease back the property for its continued use. The lease has an initial term of 15 years and the Company has the right to extend the term of the lease for two additional periods of ten years each. The lease is accounted for as an operating lease and at the transaction date the Company had deferred $26.5 million of gains which are being amortized in operating expenses over the initial lease term of 15 years. The Company amortized $1.8 million of the deferred gains related to the lease during each of the fiscal years 2017, 2016 and 2015. The deferred gains remaining to be amortized were $18.8 million at December 31, 2017, of which $1.8 million was recorded in accrued expenses and other current liabilities, and $17.0 million was recorded in long-term liabilities. The deferred gains remaining to be amortized were $20.6 million at January 1, 2017, of which $1.8 million was recorded in accrued expenses and other current liabilities, and $18.8 million was recorded in long-term liabilities.