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LEASES
3 Months Ended
Jun. 30, 2013
LEASES  
LEASES

6.                                      LEASES

 

The Company leases facilities, equipment and land under operating leases expiring through 2035.  The land lease provides for contingent rentals in excess of minimum rental commitments based on a percentage of the Company’s sales. Management has accrued for the estimated contingent rent as of June 30, 2013.

 

Future minimum lease payments under all non-cancelable operating leases at June 30, 2013 are as follows:

 

Payments Due

 

(in
thousands)

 

Next 12 Months

 

$

470

 

Year 2

 

479

 

Year 3

 

374

 

Year 4

 

301

 

Year 5

 

299

 

Thereafter

 

5,235

 

Total minimum lease payments

 

$

7,158