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LEASES | 12 Months Ended
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Dec. 31, 2017
Leases [Abstract] |
LEASES | LEASES The Company leases certain land, buildings, equipment and vehicles under noncancelable operating leases that expire at various dates through 2036. Many of the building leases obligate the Company to pay real estate taxes, insurance and certain maintenance costs and contain multiple renewal provisions, exercisable at the Company's option. Leases that contain predetermined fixed escalations of the minimum rentals are recognized in rental expense on a straight-line basis over the lease term. Cash or rent abatements received upon entering into certain operating leases are also recognized on a straight-line basis over the lease term. At December 31, 2017, the approximate future minimum lease payments for operating leases were as follows (in thousands of dollars):
Year |  | Future Minimum Lease Payments
2018 |  | $ | 63,625 |
2019 |  | 50,610 |
2020 |  | 31,984 |
2021 |  | 20,891 |
2022 |  | 13,555 |
Thereafter |  | 15,879 |
Total minimum payments required |  | 196,544 |
Less amounts representing sublease income |  | (4,125 | )
|  | $ | 192,419 |
The expected reduction of future minimum lease payments is the result of the decreasing branch network across the U.S. and Canada business. Rent expense was $76 million, $81 million and $77 million for 2017, 2016 and 2015, respectively. These amounts are net of sublease income of $2 million for each 2017, 2016 and 2015. Capital leases as of December 31, 2017 are not considered material. Capital lease obligations are reported in long-term debt.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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