Contingent Liabilities and Commitments

3 Months Ended

Jun. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

8. Contingent Liabilities and Commitments

7. Contingent Liabilities and Commitments

We lease a portion of our rental equipment and certain of our facilities under operating leases with terms that expire at various dates substantially through 2019. As of June 30, 2013, we have guaranteed $111.8 million of residual values for these rental equipment assets at the end of the respective lease terms. Certain leases contain renewal and fair market value purchase options as well as mileage and other restrictions. At the expiration of the lease, we have the option to renew the lease, purchase the asset for fair market value, or sell the asset to a third party on behalf of the lessor. We have been leasing equipment since 1987 and have experienced no material losses relating to these types of residual value guarantees.

Lease commitments for leases having terms of more than one year were as follows:
		Property, Plant and Equipment		Rental Equipment		Total
		(Unaudited)
				(In thousands)
Year-ended June 30:
2014	$	13,579	$	79,078	$	92,657
2015		2,017		55,621		57,638
2016		1,856		23,017		24,873
2017		1,767		13,279		15,046
2018		1,285		10,907		12,192
Thereafter		4,893		7,757		12,650
Total	$	25,397	$	189,659	$	215,056