Leased Properties

12 Months Ended

Dec. 31, 2014

7. Leased Properties

The Company leases certain property and equipment (primarily transportation equipment, buildings and land) under operating leases, which are denominated in local currencies. Total rental expense was $6,660,000, $6,280,000 and $6,713,000 in 2014, 2013 and 2012, respectively.

Consolidated Company minimum future rental payments under operating leases with terms in excess of one year as of December 31, 2014, are:

(In thousands)	Year		Amount
		2015	$	4,523
		2016		3,522
		2017		2,163
		2018		1,866
		2019		1,822
		Subsequent to 2019		16,651
		Total minimum future rental payments	$	30,547

- 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.

+ References+ Details