Leases and Contingencies

The Company operates parking facilities under operating leases expiring on various dates. Certain of the leases contain options to renew at the Company's discretion. Total future annual rent expense is not determinable as a portion of such future rent is contingent based on revenues of the parking facilities.

At December 31, 2016, the Company's minimum rental commitments, excluding contingent rent provisions and sublease income under all non-cancellable operating leases, are as follows:



(millions)
2017	$	225.2
2018	192.1
2019	165.5
2020	92.0
2021	67.5
2022 and thereafter	214.4
Total	$	956.7

(1)$15.8 is included in 2017 minimum commitments for leases that expire in less than one year.

Rent expense, including contingent rents, was $384.0 million, $400.3 million and $330.8 million in 2016, 2015 and 2014, respectively. Contingent rent expense was $140.0 million, $186.2 million and $139.7 million in 2016, 2015 and 2014, respectively. Contingent rent expense consists primarily of percentage rent payments, which will cease at various times as certain leases expire. Future sublease income under all non-cancellable operating leases was $43.6 million as of December 31, 2016.

The Company accrued no contingent payment obligations outstanding under the previous business combination accounting pronouncement for the year ended December 31, 2016. The Company has recorded a contingency obligation for acquisitions subsequent to the adoption of the most recent guidance on business combinations, in the amount of nil and $0.1 million, as of December 31, 2016 and 2015, respectively.

The Company has contractual provisions under certain lease contracts to complete structural or other improvements to leased properties and incurs repair costs, including improvements and repairs arising as a result of ordinary wear and tear. The Company evaluates the nature of those costs when incurred and either capitalizes the costs as leasehold improvements, as applicable, or recognizes the costs as repair expenses within Cost of Parking Services-Leases within the Consolidated Statements of Income.