LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2018

NOTE 8 LEASE COMMITMENTS

We lease 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 $32,704, $30,274 and $27,360 in 2018, 2017 and 2016, respectively.

Assets recorded under capital leases consist of:


	2018		2017
Land	$	333	$	—
Buildings		13,522		2,415
Machinery and equipment		6,118		2,265
Leasehold		171		—
Furniture		107		—
	$	20,251	$	4,680
Accumulated depreciation		(3,243)		(2,357)
	$	17,008	$	2,323

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, 2018:


	Capital		Operating
	Leases		Leases
2019	$	1,828	$	26,512
2020		1,653		21,386
2021		1,546		16,529
2022		1,160		12,549
2023		880		10,225
Subsequent to 2023		3,827		21,932
Total minimum lease payments		10,894	$	109,133
Amounts representing interest		(2,541)
Present value of future minimum lease payments		8,353
Lease amount due in one year		(1,327)
Total	$	7,026