Note 17 - Lease Commitments

12 Months Ended

Dec. 29, 2012

17. Lease Commitments

The company leases certain office and warehouse space as well as certain machinery and equipment under non-cancellable operating leases. Rent expense under these leases was approximately $9.1 million in 2012, $7.1 million in 2011 and $6.7 million in 2010.

Rent expense is recognized on a straight-line basis over the term of the leases. The difference between straight-line basis rent and the amount paid has been recorded as accrued lease obligations. The company also has leases that have lease renewal provisions. As of December 29, 2012, all operating leases outstanding were with third parties. The company did not have any capital leases as of December 29, 2012.

Future minimum payments for all non-cancelable operating leases with initial terms of one year or more at December 29, 2012 are as follows (in thousands):

2013	$	8,101
2014		4,883
2015		3,794
2016		3,017
2017		1,974
2018 and thereafter		16,144
	$	37,913

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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