Leases

12 Months Ended

Sep. 30, 2014

8. LEASES

We enter into operating leases for many of our facilities, vehicle and equipment needs. These leases allow us to retain cash, and we pay a monthly lease rental fee. At the end of the lease, we have no further obligation to the lessor. We may cancel or terminate a lease before the end of its term. Typically, we would be liable to the lessor for various lease cancellation or termination costs and the difference between the fair market value of the leased asset and the implied book value of the leased asset as calculated in accordance with the lease agreement.

For a discussion of leases with certain related parties which are included below, see Note 12, “Related-Party Transactions.”

Rent expense was $5,300, $3,764 and $3,461 for the years ended September 30, 2014, 2013 and 2012, respectively, and included within the selling, general and administrative expenses in the Consolidated Statements of Comprehensive Income.

Future minimum lease payments under these non-cancelable operating leases with terms in excess of one year are as follows:

Year Ended September 30:
2015	$	5,204
2016		6,735
2017		2,910
2018		1,177
2019		339
Thereafter		278
Total	$	16,643

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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