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Operating Leases

12 Months Ended

Dec. 31, 2011

Note 19: Operating Leases

Operating lease expense incurred primarily for manufacturing and office space, machinery and equipment was $20.7 million, $20.4 million, and $21.0 million in 2011, 2010, and 2009, respectively.

Minimum annual lease payments for noncancelable operating leases in effect at December 31, 2011 are as follows (in thousands):


2012	$	14,944
2013		12,119
2014		8,962
2015		6,127
2016		4,274
Thereafter		18,622

	$	65,048

Certain of our operating leases include step rent provisions and rent escalations. We include these step rent provisions and rent escalations in our minimum lease payments obligations and recognize them as a component of rental expense on a straight-line basis over the minimum lease term.

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude 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.

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