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Note 16 - Lease Commitments

12 Months Ended

Dec. 27, 2014

Disclosure Text Block Supplement [Abstract]

16. 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 $8.9 million in 2014, $8.9 million in 2013 and $9.1 million in 2012.

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 27, 2014, all operating leases outstanding were with third parties. The company did not have any capital leases as of December 27, 2014.

Future minimum payments for all non-cancellable operating leases with initial terms of one year or more at December 27, 2014 are as follows (in thousands):

2015	$	8,384
2016		5,194
2017		3,823
2018		3,214
2019		3,140
2020 and thereafter		13,076
	$	36,831

- 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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