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Leases

12 Months Ended

Dec. 31, 2013

(15)

Leases

In 2008, we entered into a sale-leaseback transaction involving the construction of a new corporate facility. Under terms of the operating lease, rental payments in fiscal 2013, 2012 and 2011 approximate $2.7 , $2.7, and $2.6, respectively, and increase 2% annually through December 2028.

We have several noncancelable leases for equipment, software, and plant facilities. Total rent expense under operating lease agreements was approximately $23.8, $20.1 and $14.4 in 2013, 2012 and 2011, respectively.

The following is a schedule of future minimum lease payments for operating leases (with initial terms in excess of one year) as of December 31, 2013:

	Minimum Lease
	Payments
	Domestic		Foreign		Total
Year ending December 31:
2014	$	19.7	$	2.5	$	22.2
2015		15.8		2.1		17.9
2016		11.8		1.6		13.4
2017		8.7		0.9		9.6
2018		6.8		0.5		7.3
Thereafter		43.4		3.3		46.7
Total		106.2		10.9		117.1

- 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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