LEASES Level 1 (Notes)

12 Months Ended

Jul. 31, 2018

LEASES

Our mining operations are conducted on property we lease or own. These leases generally provide us with the right to mine as long as we continue to pay a minimum monthly rental, which is typically applied against the per ton royalty when the property is mined. We also lease certain offices and production facilities. In addition, we may lease vehicles, railcars, mining property and equipment, warehouse space, data processing equipment, and office equipment. In most cases, we expect that, in the normal course of business, leases will be renewed or replaced by other leases.

The following is a schedule by fiscal year of future minimum rent requirements under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of July 31, 2018 (in thousands):



2019	$	2,134
2020	$	1,735
2021	$	1,424
2022	$	1,410
2023	$	778
Later years	$	7,810

The following schedule shows the composition of total rent expense by fiscal year for all operating leases, including those with terms of one month or less which were not renewed (in thousands):



	2018		2017
Vehicles and Railcars	$	1,404	$	1,431
Office facilities	985		959
Warehouse facilities	408		379
Mining properties:
Minimum	106		113
Contingent (1)	208		191
Other	92		78
	$	3,203	$	3,151

(1) Contingent mining royalty payments are determined based on the tons of raw clay mined.