Operating Leases

12 Months Ended

Dec. 31, 2013

Leases, Operating [Abstract]

Leases of Lessee Disclosure [Text Block]

Note 15 – Operating Leases

We lease facilities, vehicles, computers and other equipment under long-term operating and capital leases with varying terms. Most of the operating leases contain renewal and/or purchase options. We expect that in the normal course of business, the majority of operating leases will be renewed or replaced by other leases.

As of December 31, 2013, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year are included below.

(In millions)		Facilities	Vehicles	Other	Total
2014	$	55.0	13.4	13.1	81.5
2015		42.3	8.2	14.8	65.3
2016		29.8	3.3	15.6	48.7
2017		21.4	0.5	0.1	22.0
2018		15.7	0.2	-	15.9
Later years		43.0	-	-	43.0
	$	207.2	25.6	43.6	276.4

In North America, most of the armored vehicles used by our U.S. operations are accounted for as operating leases.The cost related to these leases is recognized as rental expense in the consolidated statements of income. Since March 2009, we have acquired armored vehicles in the U.S. either by purchasing or by leasing under agreements that we have accounted for as capital leases. The cost of vehicles under capital lease is recognized as depreciation and interest expense.

Net rent expense included in continuing operations amounted to $106.8million in 2013, $97.1million in 2012 and $101.2million in 2011.