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COMMITMENTS
12 Months Ended
Jan. 31, 2019
COMMITMENTS  
COMMITMENTS

NOTE 10 – COMMITMENTS

 

The Company leases certain office space, other facilities and certain equipment under non-cancelable operating leases expiring on various dates through May 2024. Certain leases contain renewal options. The future minimum lease payments presented below also include amounts due under a long-term lease covering the primary offices and plant for TRC with the founder and current chief executive officer of TRC at an annual rate of $0.3 million through April 30, 2020, as well as amounts due under a long-term lease covering the primary offices for APC with a group that includes several of its current and former executives at an annual rate of less than $0.1 million through January 1, 2024. None of the Company’s leases include significant amounts for incentives, rent holidays, penalties, or price escalations. Under certain lease agreements, the Company is obligated to pay property taxes, insurance, and maintenance costs.

 

The following is a schedule of future minimum lease payments for the operating leases that had initial or remaining non-cancelable lease terms in excess of one year as of January 31, 2019:

 

 

 

 

 

2020

    

$

699

2021

 

 

355

2022

 

 

262

2023

 

 

212

2024

 

 

155

Thereafter

 

 

31

Total

 

$

1,714

 

The Company also uses equipment and occupies other facilities under cancelable or short-term rental agreements.  Rent expense related to lease and rental arrangements incurred on construction projects and included in the costs of revenues was $11.4 million, $20.3 million and $13.2 million for Fiscal 2019, 2018 and 2017, respectively. Rent expense amounts included in selling, general and administrative expenses were $0.7 million, $0.7 million and $0.6 million for Fiscal 2019, 2018 and 2017, respectively.