LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2017

NOTE 7 LEASE COMMITMENTS

The Company leases certain warehouse, plant, and office facilities as well as certain equipment under noncancelable operating and capital leases expiring at various dates through the year 2027. Most of the operating leases contain renewal options and certain leases include options to purchase during or at the end of the lease term.

Amortization expense related to capital leases is included in depreciation expense while rent expense related to operating leases is included within cost of sales and Selling Research & Development and Administrative expenses (“SG&A”). Rent expense under operating leases (including taxes, insurance and maintenance when included in the rent) amounted to $30,274, $27,360 and $26,583 in 2017, 2016 and 2015, respectively.

Assets recorded under capital leases consist of:


	2017		2016
Buildings	$	2,415	$	2,119
Machinery and equipment		2,265		2,527
	$	4,680	$	4,646
Accumulated depreciation		(2,357)		(2,102)
	$	2,323	$	2,544

Future minimum payments, by year and in the aggregate, under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at December 31, 2017:


	Capital		Operating
	Leases		Leases
2018	$	678	$	21,467
2019		138		16,751
2020		30		10,211
2021		—		7,479
2022		—		6,470
Subsequent to 2022		—		13,213
Total minimum lease payments		846	$	75,591
Amounts representing interest		(105)
Present value of future minimum lease payments		741
Lease amount due in one year		(606)
Total	$	135