AVY » Topics » Note 7. Commitments

This excerpt taken from the AVY 10-K filed Feb 25, 2009.
NOTE 7. COMMITMENTS
 
Minimum annual rental commitments on operating leases having initial or remaining noncancellable lease terms of one year or more are as follows:
 
         
Year   (In millions)  
   
 
2009
  $ 64.6  
2010
    49.6  
2011
    39.2  
2012
    30.5  
2013
    20.1  
Thereafter
    46.9  
 
 
Total minimum lease payments
  $ 250.9  
 
 
 
Operating leases relate primarily to office and warehouse space, and equipment for electronic data processing and transportation. The terms of these leases do not impose significant restrictions or unusual obligations, except as noted below. There are no significant capital leases.
On September 9, 2005, the Company completed the lease financing for a commercial facility (the “Facility”) located in Mentor, Ohio, used primarily for the new headquarters and research center for the Company’s roll materials group. The Facility consists generally of land, buildings, equipment and office furnishings. The Company has leased the Facility under an operating lease arrangement, which contains a residual value guarantee of $33.4 million. The Company estimates that the residual value of the Facility will not be less than the amount guaranteed.
Rent expense for operating leases was approximately $105 million in 2008, approximately $95 million in 2007 and approximately $76 million in 2006.


 

 
Notes to Consolidated Financial Statements (continued)

 
This excerpt taken from the AVY 10-K filed Mar 17, 2005.

Note 7. Commitments

 

Minimum annual rental commitments on operating leases having initial or remaining noncancellable lease terms in excess of one year are as follows:

 

Year


   (In millions)

2005

   $ 53.3

2006

     40.7

2007

     29.0

2008

     19.5

2009

     13.7

Thereafter

     39.1
    

Total minimum lease payments

   $ 195.3
    

 

Operating leases relate primarily to office and warehouse space, equipment for electronic data processing and transportation. The terms of these leases do not impose significant restrictions or unusual obligations. There are no significant capital leases.

 

Rent expense for 2004, 2003 and 2002 was $67 million, $65 million and $60 million, respectively.

 

EXCERPTS ON THIS PAGE:

10-K
Feb 25, 2009
10-K
Mar 17, 2005
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki