Note
17
COMMITMENTS AND CONTINGENCIES
The Company
leases certain sales offices, showrooms and equipment under
non-cancelable operating leases that expire at various dates
through 2013. Minimum annual rental commitments under non-cancelable
operating leases that have initial or remaining lease terms
in excess of one year as of February 25, 2000, are as follows:
(in
millions)
|
|
Year
Ending
|
|
|
Amount
|
|
2001
|
|
|
$ 29.5
|
2002
|
|
|
22.6
|
2003
|
|
|
19.4
|
2004
|
|
|
16.6
|
2005
|
|
|
14.2
|
Thereafter
|
|
|
24.7
|
|
|
|
|
$ 127.0
|
|
Rent expense
under all operating leases approximated $39.8 million, $42.5
million and $47.0 million for 2000, 1999 and 1998, respectively.
The Company
is involved in litigation from time to time in the ordinary
course of its business. Based on known information, management
believes that the Company is not currently party to any material
litigation.
|