We lease a portion of our rental equipment and certain of our facilities under operating leases with terms that expire at various dates substantially through 2024. As of December 31, 2018, we have guaranteed $11.1 million of residual values for these rental equipment assets at the end of the respective lease terms. Certain leases contain renewal and fair market value purchase options as well as mileage and other restrictions. At the expiration of the lease, we have the option to renew the lease, purchase the asset for fair market value, or sell the asset to a third party on behalf of the lessor. We have been leasing equipment since 1987 and have experienced no material losses relating to these types of residual value guarantees.

Operating and ground lease commitments for leases having terms of more than one year were as follows:

		Property, Plant and Equipment				Rental Equipment
		Ground		Operating		Operating		Total
		(Unaudited)
		(In thousands)
Year-ended December 31:
2019	$	1,024	$	18,382	$	3,073	$	22,479
2020		1,024		17,801		–		18,825
2021		1,028		15,978		–		17,006
2022		1,030		15,452		–		16,482
2023		1,030		14,846		–		15,876
Thereafter		48,876		9,690		–		58,566
Total	$	54,012	$	92,149	$	3,073	$	149,234