Operating Leases

12 Months Ended

Oct. 31, 2013

Operating Leases

The Company leases buildings, material handling, manufacturing and office equipment under operating leases with terms that range from three to ten years at inception. The leases do not include step rent provisions, escalation clauses, capital improvement funding or other lease concessions that qualify the leases as a contingent rental. Also, the leases do not include a variable related to a published index. The Company's operating leases are charged to expense over the lease term, on a straight-line basis.

The longest lease term of the Company's current leases extends to June, 2020. Rent expense under operating leases for fiscal years 2013 and 2012 was $2,203 and $2,634, respectively. Future minimum lease payments under operating leases are as follows at October 31, 2013:




2014	$1,931
2015	1,560
2016	1,158
2017	1,045
2018 and thereafter	$2,593

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details