COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2016

12. COMMITMENTS AND CONTINGENCIES

Commitments

The Company leases space for its offices under noncancellable operating leases that expire at various dates through 2023.

As of December 31, 2016, the Company’s future minimum rental payments required under operating leases with noncancellable terms in excess of one year were as follows:


(in thousands) For the calendar year	Operating Leases ⁽¹⁾
2017	$	13,604
2018		13,632
2019		12,039
2020		11,116
2021		9,483
2022 & Thereafter		17,735

	$	77,609

⁽¹⁾	Operating leases include future minimum rent payments, net of estimated sublease income for facilities that the Company has vacated pursuant to its restructuring activities.

Rent expense under operating leases is recognized on a straight-line basis to account for scheduled rent increases and landlord tenant allowances. In connection with the Company’s amended lease for its office headquarters dated November 11, 2014, the Company has a landlord tenant allowance totaling approximately $9.4 million, all of which was used and reimbursed to the Company as of December 31, 2016 and will be amortized as a reduction to rent expense on a straight-line basis over the term of the lease. Total rent expense under operating leases was approximately $13.4 million, $12.3 million, and $12.5 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Contingencies

The Company is a party in various contractual disputes, litigation and potential claims arising in the ordinary course of business. The Company does not believe that the resolution of these matters will have a material adverse effect on its financial position or results of operations.