Note 7 - Lease Commitments

12 Months Ended

Dec. 31, 2016

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

$12.6

million,

$11.1

million, and

$8.9

million in

2016,

2015,

and

2014,

respectively.

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

31,

2016,

all operating leases outstanding were with

third

parties. The company did not have any capital leases as of

December

31,

2016

Future minimum payments for all non-cancellable operating leases with initial terms of

one

year or more at

December

31,

2016

are as follows:

(in thousands )	Future Minimum Payments
2017	$	11,971
2018		6,149
2019		4,963
2020		4,458
2021		3,756
2022 and thereafter		8,025
	$	39,322