COMMITMENTS AND CONTINGENCIES

In the normal course of business the Company and its subsidiaries may be involved in various claims, legal proceedings, or may enter into contracts that contain a variety of representations and warranties and which provide general indemnifications. Within the Company’s Offshore Energy segment, lessees have asserted that they are entitled to certain reimbursable expenses or adjustments per the terms of the related charter agreement. Although the Company believes it has strong defenses against these claims, the range of potential damages is $0 to $6,580 at September 30, 2017. No amount has been recorded for this matter in the Company’s consolidated financial statements as of September 30, 2017, and the Company will continue to vigorously defend against these claims. The Company’s maximum exposure under other arrangements is unknown as no additional claims have been made. The Company believes the risk of loss in connection with such arrangements is remote.

The Company has also entered into an arrangement with its non-controlling interest holder of Repauno, whereby the non-controlling interest holder may receive additional payments contingent upon the achievement of certain conditions, not to exceed $15,000. The Company will account for such amounts when and if such conditions are achieved.

The Company has entered into an arrangement with the seller of Hannibal, whereby the seller may receive additional payments contingent upon the achievement of certain conditions, not to exceed $5,000. The Company will account for such amounts when and if such conditions are achieved.

Several of the Company’s subsidiaries are lessees under various operating and capital leases. Total rent expense for operating leases was as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Rent expense	$	1,235	$	1,197	$	3,755	$	3,724

As of September 30, 2017, minimum future rental payments under operating and capital leases are as follows:



2017	$	2,047
2018	6,925
2019	6,514
2020	5,484
2021	4,166
Thereafter	73,330
Total	$	98,466