Leases

12 Months Ended

Dec. 31, 2011

Leases [Abstract]

Leases

14. Leases

Rent expense for all operating leases was $21.2 million in 2011, $20.7 million in 2010, and $18.3 million in 2009. Amortization of assets recorded under capital leases is recorded as depreciation expense.

The Company has a number of capital lease arrangements relating primarily to buildings and production equipment. Assets held under capital leases and included in property, plant and equipment at December 31st follow:

	2011			2010
	(Dollars in thousands)
Gross amounts capitalized:
Buildings	$	3,100		$	3,100
Equipment		8,906			13,017
		12,006			16,117
Accumulated amortization:
Buildings		(1,899	)		(1,821	)
Equipment		(5,586	)		(8,689	)
		(7,485	)		(10,510	)
Net assets under capital leases	$	4,521		$	5,607

At December 31, 2011, future minimum lease payments under all non-cancelable leases follow:

	Capital Leases		Operating Leases
	(Dollars in thousands)
2012	$	1,583	$	14,389
2013		685		11,012
2014		649		8,611
2015		587		7,228
2016		278		4,432
Thereafter		2,927		16,231
Total minimum lease payments		6,709	$	61,903
Less amount representing executory costs		33
Net minimum lease payments		6,676
Less amount representing imputed interest		2,217
Present value of net minimum lease payments		4,459
Less current portion		1,241
Long-term obligations at December 31, 2011	$	3,218