Note L: Leases

Total lease expense for operating leases was $85,945,000, $80,417,000 and $59,590,000 for the years ended December 31, 2016, 2015 and 2014, respectively. The Corporation’s operating leases generally contain renewal and/or purchase options with varying terms. The Corporation has royalty agreements that generally require royalty payments based on tons produced or total sales dollars and also contain minimum payments. Total royalties, principally for leased properties, were $55,257,000, $53,658,000 and $50,535,000 for the years ended December 31, 2016, 2015 and 2014, respectively. The Corporation also has capital lease obligations for machinery and equipment.

Future minimum lease and royalty commitments for all noncancelable agreements and capital lease obligations as of December 31, 2016 are as follows:

(add 000)	Capital Leases			Operating Leases & Royalty Commitments
2017	$	3,416		$	125,316
2018		3,561			68,488
2019		3,241			59,727
2020		2,558			55,080
2021		1,768			51,376
Thereafter		5,216			355,918
Total		19,760		$	715,905
Less: imputed interest		(4,155	)
Present value of minimum lease payments		15,605
Less: current capital lease obligations		(2,683	)
Long-term capital lease obligations	$	12,922

Of the total future minimum commitments, $225,900,000 relates to the Corporation’s contracts of affreightment.