Leases and Commitments

12 Months Ended

Dec. 31, 2014

LEASES AND COMMITMENTS

Certain assets are leased under long-term operating leases, including rent for facilities and one airplane. Most leases contain renewal options for various periods. Leases generally require the Company to pay for insurance, taxes and maintenance of the leased property. The Company leases other equipment such as vehicles and certain office equipment under short-term leases. Total rent expense was $33.9 million, $32.1 million and $31.3 million in the years ended December 31, 2014, 2013 and 2012, respectively. The Company does not have any material capital leases.

Future minimum operating lease payments at December 31, 2014 were as follows:



(millions of dollars)
2015	$	26.8
2016	12.4
2017	11.8
2018	9.3
2019	8.3
After 2019	1.0
Total minimum lease payments	$	69.6

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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