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2011 Annual Report


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Notes to Consolidated Financial Statements

May 31, 2010, 2009, 2008

NOTE K — LEASES


We lease certain property, plant and equipment under longterm operating lease agreements, some of which provide for increased rental payments based upon increases in the cost-ofliving index. The following table illustrates our future minimum lease commitments under all non-cancelable lease agreements, for each of the next five years and in the aggregate, as of May 31, 2011:

Chart: Leases

Total rental expense for all operating leases amounted to $41.4 million, $41.8 million and $40.4 million for the fiscal years ended May 31, 2011, 2010 and 2009, respectively.