Rentals Under Noncancellable Operating Leases

12 Months Ended

May 31, 2016

Leases [Abstract]

Rentals Under Noncancellable Operating Leases

Rentals under Noncancellable Operating Leases

Our operating lease agreements have varying terms, typically one to three years. Upon lease termination, the lessee has the option to renew the lease term, purchase the equipment at fair market value, or continue to rent on a month-to-month basis. Our operating leases do not provide for contingent rentals.

Our cost of equipment under operating leases at May 31, 2016 and May 31, 2015, with remaining noncancellable lease terms of more than one year, was $15,104 and $12,512, before accumulated depreciation of $4,201 and $3,335, and the net book value was $10,904 and $9,177, respectively.

The following sets forth a schedule of future minimum rental payments to be received on noncancellable operating leases with remaining lease terms of more than one year as of May 31, 2016:

Year ending May 31,	Future Minimum Rental Payments
2017	$	4,639
2018	2,802
2019	531
2020	—
2021	—
	$	7,972