LEASES

The Company leases certain property and equipment used in its operations. Generally, the leases are for primary terms of five to twenty years with options either to renew for additional periods or to purchase the premises and call for payment of property taxes, insurance, and maintenance by the lessee.

The following is an analysis of the leased property under capital leases by major classes:



	Asset balances at April 30,
	2017		2016
Real estate	$	13,480	$	13,480
Equipment	2,693		2,564
	16,173		16,044
Less accumulated amortization	7,039		6,365
	$	9,134	$	9,679

Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at April 30, 2017:



Years ended April 30,	Capital leases		Operating leases
2018	$	900	$	1,172
2019	907		1,001
2020	912		658
2021	908		523
2022	883		258
Thereafter	10,260		815
Total minimum lease payments	14,770		$	4,427
Less amount representing interest	5,993
Present value of net minimum lease payments	$	8,777

The total rent expense under operating leases was $1,936 in 2017, $1,862 in 2016, and $1,961 in 2015.