Lease information

12 Months Ended

Jan. 31, 2012

Leases of Lessee Disclosure [Text Block]

Note 6 - Lease information



Property under capitalized leases	2011	2010
Machinery and equipment	$1,956	$512
Furniture and office equipment	—	225
Transportation equipment	63	48
Computer equipment	208	154
Subtotal	2,227	939
Less accumulated amortization	241	263
Total	$1,986	$676

Fixed assets acquired under capital leases	$917	$300
Fixed assets acquired in previous years now under capital leases	$845	$0

Piping systems leases manufacturing and warehouse facilities, land, transportation equipment and office space under non-cancelable operating leases, which expire beginning 2012 through 2034. Filtration products leases approximately 67,000 square feet of production and office space under an operating lease, which began in June 2004 and expires in 2012 and 2013.

At January 31, 2012, future minimum annual rental commitments under non-cancelable lease obligations were as follows:



	Operating Leases	Capital Leases
2013	$2,148	$518
2014	1,765	465
2015	1,504	406
2016	1,306	385
2017	1,242	359
Thereafter	3,906	—
Subtotal	11,871	2,133
Less Amount representing interest	—	302
Future minimum lease payments	$11,871	$1,831

Rental expense for operating leases was $2.5 million and $2.2 million in 2011 and 2010, respectively.

- 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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