COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

As of December 31, 2017, we have known contractual obligations, commitments and contingencies of approximately $15.6 million related to our operating lease obligations.

	Total		Less than 1 year		1-3 years		3-5 years		More than 5 years
Contractual obligations
Operating leases	$	15,592,733	$	1,081,927	$	2,084,258	$	2,154,566	$	10,271,981
Total	$	15,592,733	$	1,081,927	$	2,084,258	$	2,154,566	$	10,271,981

 Leases

See Note 9 for a detailed description of our lease arrangement in New York. Total rental expense was approximately $1.4 million, $1.6 million and $0.3 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Future minimum lease commitments as of December 31, 2017, in the aggregate total approximately $15.6 million through December 31, 2031. The preceding table shows future minimum lease commitments, which include our office leases in New York, North Carolina and Tennessee, by year as of December 31, 2017.