14. LEASES

The Company has operating leases principally for land, buildings and equipment. With the acquisition of Postle, as more fully discussed in Note 2 to the Consolidated Financial Statements, the Company also leases certain real estate and transportation equipment under various capital leases expiring between 2016 and 2027. Future minimum rental payments required under capital and operating leases as of July 31, 2015 are as follows:


	Capital Leases		Operating Leases
For the fiscal year ending July 31, 2016	$	995	$	2,490
For the fiscal year ending July 31, 2017		980		1,993
For the fiscal year ending July 31, 2018		985		1,409
For the fiscal year ending July 31, 2019		976		752
For the fiscal year ending July 31, 2020		972		676
For the fiscal year ending July 31, 2021 and thereafter		7,213		6,176

Total minimum lease payments		12,121	$	13,496

Less amount representing interest		4,979

Present value of net minimum capital lease payments		7,142
Less current portion		321

Long-term capital lease obligations	$	6,821

The current portion of capital lease obligations are included in other current liabilities and the long-term capital lease obligations are included in other long-term liabilities, respectively, in the Consolidated Balance Sheets.

Rent expense was $2,092 in fiscal 2015, $1,700 in fiscal 2014 and $1,572 in fiscal 2013.