Leases

12 Months Ended

Jan. 31, 2012

Note 11. Leases

Operating Lease Commitments: We lease certain facilities and equipment from third parties under operating lease arrangements of varying terms. Under the terms of these operating lease arrangements, we are generally obligated to make monthly rental payments to the lessors, and include no further obligations at the end of the lease terms. If we elect to cancel or terminate a lease prior to the end of its term, we are typically obligated to make all remaining lease payments. In certain cases, however, we are allowed to sublet the assets to another party. Total rent expense was $9.2 million, $9.6 million and $10.2 million in Fiscal 2011, 2010 and 2009, respectively.

Future minimum lease payments under operating leases as of January 31, 2012 are as follows:

	Amount
(Dollars in thousands)
Fiscal 2012	$	6,785
Fiscal 2013	4,902
Fiscal 2014	3,741
Fiscal 2015	2,472
Fiscal 2016 and thereafter	3,285
Total	$	21,185

- 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

Stewart & Stevenson LLC 10-K