Delaware
|
77-0100596
|
(State
or other jurisdiction of
incorporation
or organization)
|
(I.R.S.
Employer Identification No.)
|
Large
accelerated filer x
|
Accelerated
filer ¨
|
Non-accelerated
filer ¨
|
Smaller
reporting company ¨
|
|
3
|
|
|
3
|
|
|
18
|
|
|
25
|
|
|
25
|
|
|
26
|
|
|
26
|
|
|
27
|
|
|
28
|
|
|
28
|
|
|
28
|
|
29
|
Three
Months Ended
|
Six
Months Ended
|
|||||||||||||||
May
31,
|
June
1,
|
May
31,
|
June
1,
|
|||||||||||||
(Dollars
in thousands, except per share data)
|
2009
|
2008
|
2009
|
2008
|
||||||||||||
Sales
|
$
|
132,920
|
$
|
159,793
|
$
|
278,922
|
$
|
309,562
|
||||||||
Cost
of sales
|
(96,370
|
)
|
(120,047
|
)
|
(207,451
|
)
|
(236,364
|
)
|
||||||||
Gross
profit
|
36,550
|
39,746
|
71,471
|
73,198
|
||||||||||||
Selling,
general and administrative expenses
|
(25,877
|
)
|
(25,865
|
)
|
(52,285
|
)
|
(51,667
|
)
|
||||||||
Other
income, net
|
2,431
|
575
|
2,902
|
3,550
|
||||||||||||
Income
before interest, income taxes and equity in (loss)/earnings of joint
venture
|
13,104
|
14,456
|
22,088
|
25,081
|
||||||||||||
Interest
(expense)/income, net
|
(148
|
)
|
142
|
(319
|
)
|
431
|
||||||||||
Income
before income taxes and equity in (loss)/earnings of joint
venture
|
12,956
|
14,598
|
21,769
|
25,512
|
||||||||||||
Provision
for income taxes
|
(1,975
|
)
|
(5,000
|
)
|
(4,619
|
)
|
(8,929
|
)
|
||||||||
Income
before equity in (loss)/earnings of joint venture
|
10,981
|
9,598
|
17,150
|
16,583
|
||||||||||||
Equity
in (loss)/earnings of joint venture, net of taxes
|
(1,555
|
)
|
6,735
|
(3,898
|
)
|
9,487
|
||||||||||
Net
income
|
$
|
9,426
|
$
|
16,333
|
$
|
13,252
|
$
|
26,070
|
||||||||
Basic
net income per share
|
$
|
1.03
|
$
|
1.79
|
$
|
1.45
|
$
|
2.86
|
||||||||
Diluted
net income per share
|
$
|
1.03
|
$
|
1.78
|
$
|
1.44
|
$
|
2.85
|
||||||||
Weighted-average
shares (basic)
|
9,171,645
|
9,132,172
|
9,159,161
|
9,110,712
|
||||||||||||
Weighted-average
shares (diluted)
|
9,185,143
|
9,186,649
|
9,172,470
|
9,151,897
|
||||||||||||
Cash
dividends per share
|
$
|
.30
|
$
|
.30
|
$
|
.60
|
$
|
.55
|
May
31,
|
November
30,
|
|||||||
(Dollars
in thousands)
|
2009
|
2008
|
||||||
ASSETS
|
||||||||
Current
assets
|
||||||||
Cash
and cash equivalents
|
$
|
185,580
|
$
|
143,561
|
||||
Receivables,
less allowances of $6,343 in 2009 and $7,009 in 2008
|
138,689
|
181,961
|
||||||
Inventories
|
81,543
|
95,645
|
||||||
Deferred
income taxes
|
26,605
|
25,582
|
||||||
Prepaid
expenses and other current assets
|
10,572
|
10,053
|
||||||
Total
current assets
|
442,989
|
456,802
|
||||||
Investments
in joint ventures
|
||||||||
Equity
method
|
20,115
|
14,428
|
||||||
Cost
method
|
3,784
|
3,784
|
||||||
Property,
plant and equipment
|
||||||||
Land
|
42,479
|
38,679
|
||||||
Buildings
|
94,089
|
85,555
|
||||||
Machinery
and equipment
|
317,666
|
306,177
|
||||||
Construction
in progress
|
43,319
|
37,386
|
||||||
Total
property, plant and equipment at cost
|
497,553
|
467,797
|
||||||
Accumulated
depreciation
|
(270,850
|
)
|
(261,635
|
)
|
||||
Total
property, plant and equipment, net
|
226,703
|
206,162
|
||||||
Deferred
income taxes
|
4,763
|
4,763
|
||||||
Goodwill
and intangible assets, net of accumulated amortization of $1,228 in 2009
and $1,197 in 2008
|
2,098
|
2,108
|
||||||
Other
assets
|
38,512
|
38,275
|
||||||
Total
assets
|
$
|
738,964
|
$
|
726,322
|
May
31,
|
November
30,
|
|||||||
(Dollars
in thousands, except per share data)
|
2009
|
2008
|
||||||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||||||
Current
liabilities
|
||||||||
Current
portion of long-term debt
|
$
|
17,056
|
$
|
16,763
|
||||
Trade
payables
|
46,037
|
52,613
|
||||||
Accrued
liabilities
|
75,454
|
79,538
|
||||||
Income
taxes payable
|
12,355
|
10,443
|
||||||
Total
current liabilities
|
150,902
|
159,357
|
||||||
Long-term
debt, less current portion
|
37,334
|
35,989
|
||||||
Other
long-term liabilities
|
53,207
|
53,856
|
||||||
Total
liabilities
|
241,443
|
249,202
|
||||||
Commitments
and contingencies
|
||||||||
Stockholders'
equity
|
||||||||
Common
Stock, par value $2.50 per share, authorized 24,000,000 shares,
outstanding 9,215,491 shares in 2009 and 9,188,692 shares in 2008, net of
treasury shares
|
29,920
|
29,805
|
||||||
Additional
paid-in capital
|
57,512
|
54,447
|
||||||
Retained
earnings
|
486,699
|
478,968
|
||||||
Accumulated
other comprehensive loss
|
(20,993
|
)
|
(31,475
|
)
|
||||
Treasury
Stock (2,752,701 shares in 2009 and 2,733,300 shares in
2008)
|
(55,617
|
)
|
(54,625
|
)
|
||||
Total
stockholders' equity
|
497,521
|
477,120
|
||||||
Total
liabilities and stockholders' equity
|
$
|
738,964
|
$
|
726,322
|
Six
Months Ended
|
||||||||
May
31,
|
June
1,
|
|||||||
(Dollars
in thousands)
|
2009
|
2008
|
||||||
OPERATING
ACTIVITIES
|
||||||||
Net
income
|
$
|
13,252
|
$
|
26,070
|
||||
Adjustments
to reconcile net income to net cash provided by/(used in) operating
activities:
|
||||||||
Depreciation
|
10,657
|
9,688
|
||||||
Amortization
|
19
|
71
|
||||||
Loss/(earnings
in excess of distributions) from joint ventures
|
4,313
|
(5,435
|
)
|
|||||
Loss
from sale of property, plant and equipment
|
16
|
22
|
||||||
Stock
compensation expense
|
2,362
|
3,633
|
||||||
Changes
in operating assets and liabilities:
|
||||||||
Receivables,
net
|
45,120
|
28,767
|
||||||
Inventories
|
15,873
|
(2,959
|
)
|
|||||
Prepaid
expenses and other current assets
|
(246
|
)
|
(2,021
|
)
|
||||
Other
assets
|
(87
|
)
|
(5,296
|
)
|
||||
Trade
payables
|
(7,675
|
)
|
838
|
|||||
Accrued
liabilities and income taxes payable
|
(3,637
|
)
|
(30,966
|
)
|
||||
Other
long-term liabilities and deferred income taxes
|
(1,221
|
)
|
13,456
|
|||||
Net
cash provided by operating activities
|
78,746
|
35,868
|
||||||
INVESTING
ACTIVITIES
|
||||||||
Proceeds
from sale of property, plant and equipment
|
431
|
1,433
|
||||||
Additions
to property, plant and equipment
|
(26,471
|
)
|
(28,638
|
)
|
||||
Investment
in joint venture
|
(10,000
|
)
|
-
|
|||||
Net
cash used in investing activities
|
(36,040
|
)
|
(27,205
|
)
|
||||
FINANCING
ACTIVITIES
|
||||||||
Issuance
of debt
|
427
|
-
|
||||||
Repayment
of debt
|
-
|
(4,001
|
)
|
|||||
Dividends
on common stock
|
(5,521
|
)
|
(5,038
|
)
|
||||
Issuance
of common stock
|
(1
|
)
|
810
|
|||||
Excess
tax benefits related to stock-based compensation
|
819
|
1,251
|
||||||
Purchase
of treasury stock
|
(992
|
)
|
(2,754
|
)
|
||||
Net
cash used in financing activities
|
(5,268
|
)
|
(9,732
|
)
|
||||
Effect
of exchange rate changes on cash and cash equivalents
|
4,581
|
5,217
|
||||||
Net
change in cash and cash equivalents
|
42,019
|
4,148
|
||||||
Cash
and cash equivalents at beginning of period
|
143,561
|
155,433
|
||||||
Cash
and cash equivalents at end of period
|
$
|
185,580
|
$
|
159,581
|
May
31,
|
November
30,
|
|||||||
(In
thousands)
|
2009
|
2008
|
||||||
Trade
|
$
|
116,889
|
$
|
155,061
|
||||
Joint
ventures
|
1,406
|
1,380
|
||||||
Other
|
26,737
|
32,529
|
||||||
Allowances
|
(6,343
|
)
|
(7,009
|
)
|
||||
$
|
138,689
|
$
|
181,961
|
May
31,
|
November
30,
|
|||||||
(In
thousands)
|
2009
|
2008
|
||||||
Finished
products
|
$
|
39,389
|
$
|
44,033
|
||||
Materials
and supplies
|
21,176
|
33,485
|
||||||
Products
in process
|
20,978
|
18,127
|
||||||
$
|
81,543
|
$
|
95,645
|
Six
Months Ended
|
||||||||
May
31,
|
June
1,
|
|||||||
(In
thousands)
|
2009
|
2008
|
||||||
Interest
paid
|
$
|
681
|
$
|
1,181
|
||||
Income
taxes paid
|
5,497
|
8,588
|
Three
Months Ended
|
Six
Months Ended
|
|||||||||||||||
May
31,
|
June
1,
|
May
31,
|
June
1,
|
|||||||||||||
(In
thousands)
|
2009
|
2008
|
2009
|
2008
|
||||||||||||
Net
sales
|
$
|
22,460
|
$
|
135,742
|
$
|
40,257
|
$
|
218,458
|
||||||||
Gross
(loss)/profit
|
(3,645
|
)
|
28,976
|
(11,278
|
)
|
42,799
|
||||||||||
Net
(loss)/income
|
(3,442
|
)
|
14,900
|
(8,626
|
)
|
20,989
|
||||||||||
Three
Months Ended
|
Six
Months Ended
|
|||||||||||||||
May
31,
|
June
1,
|
May
31,
|
June
1,
|
|||||||||||||
(In
thousands)
|
2009
|
2008
|
2009
|
2008
|
||||||||||||
Earnings
from joint ventures
|
||||||||||||||||
Equity
(loss)/earnings of TAMCO before income taxes
|
$
|
(1,721
|
)
|
$
|
7,450
|
$
|
(4,313
|
)
|
$
|
10,495
|
||||||
Less
benefit/(provision) for income taxes
|
166
|
(715
|
)
|
415
|
(1,008
|
)
|
||||||||||
Equity
(loss)/earnings of TAMCO, net of taxes
|
$
|
(1,555
|
)
|
$
|
6,735
|
$
|
(3,898
|
)
|
$
|
9,487
|
||||||
Dividends
received from joint ventures
|
||||||||||||||||
TAMCO
|
$
|
-
|
$
|
4,510
|
$
|
-
|
$
|
5,060
|
||||||||
ASAL
|
-
|
-
|
-
|
1,496
|
||||||||||||
BL
|
2,207
|
-
|
2,207
|
-
|
Three
Months Ended
|
Six
Months Ended
|
|||||||||||||||
May
31,
|
June
1,
|
May
31,
|
June
1,
|
|||||||||||||
(In
thousands, except per share data)
|
2009
|
2008
|
2009
|
2008
|
||||||||||||
Numerator:
|
||||||||||||||||
Net
income
|
$
|
9,426
|
$
|
16,333
|
$
|
13,252
|
$
|
26,070
|
||||||||
Denominator
for basic income per share:
|
||||||||||||||||
Weighted-average
shares outstanding, basic
|
9,171,645
|
9,132,172
|
9,159,161
|
9,110,712
|
||||||||||||
Denominator
for diluted income per share:
|
||||||||||||||||
Weighted-average
shares outstanding, basic
|
9,171,645
|
9,132,172
|
9,159,161
|
9,110,712
|
||||||||||||
Dilutive
effect of stock options and restricted stock
|
13,498
|
54,477
|
13,309
|
41,185
|
||||||||||||
Weighted-average
shares outstanding, diluted
|
9,185,143
|
9,186,649
|
9,172,470
|
9,151,897
|
||||||||||||
Basic
net income per share
|
$
|
1.03
|
$
|
1.79
|
$
|
1.45
|
$
|
2.86
|
||||||||
Diluted
net income per share
|
$
|
1.03
|
$
|
1.78
|
$
|
1.44
|
$
|
2.85
|
Three
Months Ended
|
Six
Months Ended
|
|||||||||||||||
May
31,
|
June
1,
|
May
31,
|
June
1,
|
|||||||||||||
(In
thousands)
|
2009
|
2008
|
2009
|
2008
|
||||||||||||
Net
income
|
$
|
9,426
|
$
|
16,333
|
$
|
13,252
|
$
|
26,070
|
||||||||
Foreign
currency translation adjustment
|
13,884
|
2,448
|
10,482
|
7,250
|
||||||||||||
Comprehensive
income
|
$
|
23,310
|
$
|
18,781
|
$
|
23,734
|
$
|
33,320
|
May
31,
|
November
30,
|
|||||||
(In
thousands)
|
2009
|
2008
|
||||||
Fixed-rate
notes:
|
||||||||
5.36%,
payable in annual principal installments of $10,000
|
$
|
10,000
|
$
|
10,000
|
||||
4.25%,
payable in Singapore dollars, in annual principal installments of
$7,056
|
28,223
|
27,052
|
||||||
Variable-rate
industrial development bonds:
|
||||||||
payable
in 2016 (1.05% at May 31, 2009)
|
7,200
|
7,200
|
||||||
payable
in 2021 (1.05% at May 31, 2009)
|
8,500
|
8,500
|
||||||
Variable-rate
bank revolving credit facility (10.15% at May 31, 2009)
|
467
|
-
|
||||||
Total
long-term debt
|
54,390
|
52,752
|
||||||
Less
current portion
|
(17,056
|
)
|
(16,763
|
)
|
||||
Long-term
debt, less current portion
|
$
|
37,334
|
$
|
35,989
|
Three
Months Ended
|
Six
Months Ended
|
|||||||||||||||
May
31,
|
June
1,
|
May
31,
|
June
1,
|
|||||||||||||
(In
thousands)
|
2009
|
2008
|
2009
|
2008
|
||||||||||||
Sales
|
||||||||||||||||
Fiberglass-Composite
Pipe
|
$
|
55,532
|
$
|
69,388
|
$
|
112,273
|
$
|
135,231
|
||||||||
Water
Transmission
|
42,251
|
44,026
|
93,794
|
85,010
|
||||||||||||
Infrastructure
Products
|
35,147
|
46,791
|
72,866
|
90,119
|
||||||||||||
Eliminations
|
(10
|
)
|
(412
|
)
|
(11
|
)
|
(798
|
)
|
||||||||
Total
Sales
|
$
|
132,920
|
$
|
159,793
|
$
|
278,922
|
$
|
309,562
|
||||||||
Income
Before Interest, Income Taxes and Equity in (Loss)/Earnings of Joint
Venture
|
||||||||||||||||
Fiberglass-Composite
Pipe
|
$
|
16,490
|
$
|
17,865
|
$
|
31,136
|
$
|
34,500
|
||||||||
Water
Transmission
|
2,182
|
(1,775
|
)
|
2,695
|
(5,714
|
)
|
||||||||||
Infrastructure
Products
|
3,059
|
6,640
|
6,843
|
12,934
|
||||||||||||
Corporate
and unallocated
|
(8,627
|
)
|
(8,274
|
)
|
(18,586
|
)
|
(16,639
|
)
|
||||||||
Total
Income Before Interest, Income Taxes and Equity in (Loss)/Earnings of
Joint Venture
|
$
|
13,104
|
$
|
14,456
|
$
|
22,088
|
$
|
25,081
|
May
31,
|
November
30,
|
|||||||
(In
thousands)
|
2009
|
2008
|
||||||
Assets
|
||||||||
Fiberglass-Composite
Pipe
|
$
|
286,905
|
$
|
303,672
|
||||
Water
Transmission
|
198,771
|
235,664
|
||||||
Infrastructure
Products
|
97,186
|
107,792
|
||||||
Corporate
and unallocated
|
305,630
|
227,543
|
||||||
Eliminations
|
(149,528
|
)
|
(148,349
|
)
|
||||
Total
Assets
|
$
|
738,964
|
$
|
726,322
|
Six
Months Ended
|
||||||||
May
31,
|
June
1,
|
|||||||
(In
thousands)
|
2009
|
2008
|
||||||
Balance,
beginning of period
|
$
|
3,238
|
$
|
3,590
|
||||
Payments
|
(1,992
|
)
|
(534
|
)
|
||||
Warranties
issued during the period
|
1,699
|
(676
|
)
|
|||||
Balance,
end of period
|
$
|
2,945
|
$
|
2,380
|
Foreign
|
||||||||||||
Currency
|
||||||||||||
November
30,
|
Translation
|
May
31,
|
||||||||||
(In
thousands)
|
2008
|
Adjustments
|
2009
|
|||||||||
Fiberglass-Composite
Pipe
|
$
|
1,440
|
$
|
-
|
$
|
1,440
|
||||||
Water
Transmission
|
360
|
3
|
363
|
|||||||||
Infrastructure
Products
|
201
|
-
|
201
|
|||||||||
$
|
2,001
|
$
|
3
|
$
|
2,004
|
Weighted-
|
||||||||||||||||
Weighted-
|
Average
|
|||||||||||||||
Average
|
Remaining
|
Aggregate
|
||||||||||||||
Number
of
|
Exercise
Price
|
Contractual
|
Intrinsic
Value
|
|||||||||||||
Options
|
Options
|
per
Share
|
Term
(Years)
|
(in
thousands)
|
||||||||||||
Outstanding
at November 30, 2008
|
36,302
|
$
|
37.61
|
|||||||||||||
Granted
|
-
|
-
|
||||||||||||||
Exercised
|
-
|
-
|
||||||||||||||
Outstanding
at May 31, 2009
|
36,302
|
37.61
|
4.11
|
$
|
822
|
|||||||||||
Options
exercisable at May 31, 2009
|
33,451
|
32.18
|
3.72
|
$
|
822
|
U.S.
Postretirement
|
||||||||||||||||||||||||
Pension
Benefits
|
Benefits
|
|||||||||||||||||||||||
U.S.
Plans
|
Non-U.S.
Plans
|
|||||||||||||||||||||||
(In
thousands)
|
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
||||||||||||||||||
Service
cost
|
$
|
690
|
$
|
744
|
$
|
67
|
$
|
110
|
$
|
20
|
$
|
24
|
||||||||||||
Interest
cost
|
3,089
|
2,888
|
561
|
636
|
56
|
52
|
||||||||||||||||||
Expected
return on plan assets
|
(2,860
|
)
|
(3,928
|
)
|
(404
|
)
|
(423
|
)
|
(7
|
)
|
(8
|
)
|
||||||||||||
Amortization
of unrecognized
|
||||||||||||||||||||||||
prior
service cost
|
18
|
29
|
66
|
77
|
5
|
5
|
||||||||||||||||||
Amortization
of unrecognized
|
||||||||||||||||||||||||
net
transition obligation
|
-
|
-
|
-
|
-
|
12
|
12
|
||||||||||||||||||
Amortization
of accumulated loss
|
1,451
|
284
|
(167
|
)
|
-
|
1
|
3
|
|||||||||||||||||
Net
periodic cost
|
$
|
2,388
|
$
|
17
|
$
|
123
|
$
|
400
|
$
|
87
|
$
|
88
|
U.S.
Postretirement
|
||||||||||||||||||||||||
Pension
Benefits
|
Benefits
|
|||||||||||||||||||||||
U.S.
Plans
|
Non-U.S.
Plans
|
|||||||||||||||||||||||
(In
thousands)
|
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
||||||||||||||||||
Service
cost
|
$
|
1,380
|
$
|
1,488
|
$
|
134
|
$
|
220
|
$
|
40
|
$
|
48
|
||||||||||||
Interest
cost
|
6,178
|
5,776
|
1,122
|
1,272
|
112
|
104
|
||||||||||||||||||
Expected
return on plan assets
|
(5,720
|
)
|
(7,856
|
)
|
(808
|
)
|
(846
|
)
|
(14
|
)
|
(16
|
)
|
||||||||||||
Amortization
of unrecognized
|
||||||||||||||||||||||||
prior
service cost
|
36
|
58
|
132
|
154
|
10
|
10
|
||||||||||||||||||
Amortization
of unrecognized
|
||||||||||||||||||||||||
net
transition obligation
|
-
|
-
|
-
|
-
|
24
|
24
|
||||||||||||||||||
Amortization
of accumulated loss
|
2,902
|
568
|
(334
|
)
|
-
|
2
|
6
|
|||||||||||||||||
Net
periodic cost
|
$
|
4,776
|
$
|
34
|
$
|
246
|
$
|
800
|
$
|
174
|
$
|
176
|
Level 1
|
Quoted
prices are available in active markets for identical assets or liabilities
as of the reporting date. Active markets are those in which
transactions for the asset or liability occur in sufficient frequency and
volume to provide pricing information on an ongoing
basis. Level 1 primarily consists of financial instruments such
as exchange-traded derivatives, listed equities and U.S. government
treasury securities.
|
Level 2
|
Pricing
inputs are other than quoted prices in active markets included in Level 1,
which are either directly or indirectly observable as of the reporting
date. Level 2 includes those financial instruments that are
valued using models or other valuation methodologies. These
models are primarily industry-standard models that consider various
assumptions, including quoted forward prices for commodities, time value,
volatility factors, and current market and contractual prices for the
underlying instruments, as well as other relevant economic
measures. Substantially all of these assumptions are observable
in the marketplace throughout the full term of the instrument, can be
derived from observable data or are supported by observable levels at
which transactions are executed in the marketplace. Instruments
in this category include non-exchange-traded derivatives such as over the
counter forwards, options and repurchase
agreements.
|
Level 3
|
Pricing
inputs include significant inputs that are generally less observable from
objective sources. These inputs may be used with internally
developed methodologies that result in Management’s best estimate of fair
value from the perspective of a market participant. Level 3
instruments include those that may be more structured or otherwise
tailored to customers’ needs. At each balance sheet date, the
Company performs an analysis of all instruments subject to SFAS No. 157
and includes in Level 3 all of those whose fair value is based on
significant unobservable inputs.
|
Fair
Value Measurements Using
|
Assets
|
|||||||||||||||
(In
thousands)
|
Level
1
|
Level
2
|
Level
3
|
At
Fair Value
|
||||||||||||
Assets
|
||||||||||||||||
Derivative
assets
|
$
|
-
|
$
|
3
|
$
|
-
|
$
|
3
|
||||||||
Total
assets
|
$
|
-
|
$
|
3
|
$
|
-
|
$
|
3
|
Fair
Value Measurements Using
|
Liabilities
|
|||||||||||||||
(In
thousands)
|
Level
1
|
Level
2
|
Level
3
|
At
Fair Value
|
||||||||||||
Liabilities
|
||||||||||||||||
Derivative
liabilities
|
$
|
-
|
$
|
13
|
$
|
-
|
$
|
13
|
||||||||
Total
liabilities
|
$
|
-
|
$
|
13
|
$
|
-
|
$
|
13
|
Payments
Due by Period
|
||||||||||||||||||||
Less
than
|
After
5
|
|||||||||||||||||||
Contractual
Obligations
|
Total
|
1
year
|
1-3
years
|
3-5
years
|
years
|
|||||||||||||||
Long-term
debt
|
$
|
54,390
|
$
|
17,056
|
$
|
14,579
|
$
|
7,055
|
$
|
15,700
|
||||||||||
Interest
payments on debt (a)
|
4,561
|
1,267
|
1,828
|
629
|
837
|
|||||||||||||||
Operating
leases
|
38,548
|
4,456
|
7,019
|
3,300
|
23,773
|
|||||||||||||||
Pension
funding
|
8,600
|
8,600
|
-
|
-
|
-
|
|||||||||||||||
Uncertain
tax positions
|
1,131
|
1,131
|
-
|
-
|
-
|
|||||||||||||||
Total
contractual obligations (b)
|
$
|
107,230
|
$
|
32,510
|
$
|
23,426
|
$
|
10,984
|
$
|
40,310
|
Commitments
Expiring Per Period
|
||||||||||||||||||||
Less
than
|
After
|
|||||||||||||||||||
Contractual
Commitments
|
Total
|
1
year
|
1-3
years
|
3-5
years
|
5
years
|
|||||||||||||||
Standby
letters of credit (c)
|
$
|
2,100
|
$
|
2,100
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||||
Total
commercial commitments (b)
|
$
|
2,100
|
$
|
2,100
|
$
|
-
|
$
|
-
|
$
|
-
|