NOTE 8. LEASES

The Company leases certain office space under non-cancelable operating leases, with initial terms typically ranging from one to ten years, along with options that permit renewals for additional periods. The Company also leases certain equipment under non-cancelable operating leases, with initial terms typically ranging from one to five years. Minimum rent is expensed on a straight-line basis over the term of the lease.

Net rental expense for operating leases for the years ended December 31, 2012, 2011 and 2010 was:



DOLLARS IN MILLIONS	2012			2011			2010
Minimum Rental Expense	$	33.2		$	31.5		$	35.6
Less Sublease Rental Income	(2.5		)	(2.1		)	(2.4		)
Net Rental Expense	$	30.7		$	29.4		$	33.2

Future minimum lease payments under capital and operating leases at December 31, 2012 were:



DOLLARS IN MILLIONS	Capital Leases			Operating Leases
2013	$	1.9		$	28.3
2014	1.4			23.5
2015	1.0			14.5
2016	1.0			12.2
2017	0.2			10.1
2018 and Thereafter	—			7.8
Total Future Payments	$	5.5		$	96.4
Less Imputed Interest	(0.6		)
Present Value of Minimum Capital Lease Payments	$	4.9

The total of minimum rentals to be received in the future under non-cancelable subleases was $6.5 million at December 31, 2012.