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For The Years Ended December 31, 2001, 2000 and 1999 

## Long-Term Debt and Credit Agreements 

Long-term debt at December 31, consisted of the following: 

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The Company has a Multi-Currency Loan Agreement with a group of banks which provides for a $53.5 million term loan facility and a revolving credit facility in five currencies, approximating $240 million (US). In addition, there is an uncommitted $25 million springing facility. Amounts available under the revolving credit facility are 185 million US dollars, 30 million euros, 22 million Canadian dollars, 63 million Danish kroners, and three million pound sterling. At December 31, 2001, the amount borrowed was $53.5 million under the term loan, and 157 million US dollars, 21 million euros, 15 million Canadian dollars, 40 million Danish kroners and two million pound sterling under the revolving credit facility. 

The borrowing under this facility was used to retire the prior revolving credit agreement, fund acquisitions, and for general corporate purposes. Interest is based upon LIBOR for US dollars and similar bases for the other currencies plus an applicable margin that varies depending on the Company’s ratio of total debt to earnings before interest, taxes, depreciation and amortization (EBITDA). The current average interest rate on the outstanding advances at December 31, 2001 is 3.97 percent. In addition, the Company pays a quarterly facility fee at a rate dependent on the EBITDA ratio, and is currently 45 basis points. The Multi-Currency Loan Agreement expires in February 2005. 

The Credit Agreement contains the customary covenants which include among other things, the maintenance of certain financial ratios regarding leverage, net worth, interest coverage, and limits as to payments for cash dividends and capital expenditures. At December 31, 2001, the Company was in compliance with all of its debt covenants. In addition, the facility restricts debt outside the facility to $35 million. At December 31, 2001, the Company had 

$18.4 million borrowed against this limit consisting of industrial revenue bonds, certain indebtedness of acquired companies, and in-country credit facilities for the Company’s international operations. The weighted average interest rate on these amounts outstanding is 4.7 percent. 

Maturities of long-term debt for the five years ending December 31, 2006 are $18,000,000 in 2002; $17,000,000 in 2003; $27,000,000 in 2004; $195,000,000 in 2005 and $1,000,000 in 2006. 

## Leases 

The Company and certain of its subsidiaries are committed under non-cancelable operating leases involving certain facilities and equipment. Aggregate rental expense for all leased assets was $9,493,000, $5,416,000 and $4,436,000 for the years ended December 31, 2001, 2000 and 1999, respectively. 

Future minimum rental commitments for the next five years are as follows: 

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