7.LEASES

The Company leases certain property and equipment used in its operations. Generally, the leases are for primary terms of from five to twenty years with options either to renew for additional periods or to purchase the premises and call for payment of property taxes, insurance, and maintenance by the lessee.

The following is an analysis of the leased property under capital leases by major classes:



		Asset balances at April 30,
		2013		2012
Real estate	$	12,874	$	11,933
Equipment		2,612		2,612
		15,486		14,545
Less accumulated amortization		4,900		4,378
	$	10,586	$	10,167

Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at April 30, 2013:



		Capital		Operating leases
Years ended April 30,		leases		leases
2014	$	1,352	$	910
2015		989		514
2016		814		231
2017		772		131
2018		773		131
Thereafter		12,675		350
Total minimum lease payments		17,375	$	2,267
Less amount representing interest		7,484
Present value of net minimum lease payments	$	9,891

The total rent expense under operating leases was $1,773 in 2013, $1,269 in 2012, and $674 in 2011.