Pitney Bowes 2011 Annual Report Download - page 83

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share data)
65
We expect to prevail in the legal actions above; however, as litigation is inherently unpredictable, there can be no assurance in this
regard. If the plaintiffs do prevail, the results may have a material effect on our financial position, future results of operations or cash
flows, including, for example, our ability to offer certain types of goods or services in the future.
16. Leases
We lease office facilities, sales and service offices, equipment and other properties, generally under operating lease agreements
extending from three to 25 years. Rental expense was $117 million, $118 million and $125 million in 2011, 2010 and 2009,
respectively. Future minimum lease payments under non-cancelable operating leases at December 31, 2011 are as follows:
Years ending December 31,
2012 $ 92,275
2013 63,288
2014 40,082
2015 26,330
2016 15,952
Thereafter 21,856
Total minimum lease payments $ 259,783