LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2016

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. Rent expense under operating leases (including taxes, insurance and maintenance when included in the rent) amounted to $27,360, $26,583 and $30,813 in 2016, 2015 and 2014, respectively.

Assets recorded under capital leases consist of:


	2016		2015
Buildings	$	2,119	$	2,184
Machinery and equipment		2,527		831
	$	4,646	$	3,015
Accumulated depreciation		(2,102)		(663)
	$	2,544	$	2,352

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, 2016:


	Capital		Operating
	Leases		Leases
2017	$	936	$	22,066
2018		740		14,864
2019		80		10,934
2020		3		6,882
2021		—		6,309
Subsequent to 2021		—		15,830
Total minimum lease payments		1,759	$	76,885
Amounts representing interest		(217)
Present value of future minimum lease payments		1,542
Lease amount due in one year		(803)
Total	$	739