Lease Commitments

12 Months Ended

Dec. 31, 2014

Note K Lease Commitments

The Company is obligated under various noncancellable operating leases for buildings, and land. Minimum rent payments under operating leases are recognized on a straight-line basis over the term of the lease. At December 31, 2014, future minimum lease payments under leases with initial or remaining terms in excess of one year are as follows:

	(In thousands)
2015	$	3,894
2016		3,682
2017		3,287
2018		1,945
2019		1,755
Thereafter		11,499
	$	26,062

Rent expense charged to operations was $4,066,000 for 2014, $3,878,000 for 2013, and $3,881,000 for 2012. Certain leases contain provisions for renewal and change with the consumer price index.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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