Commitments and Contingencies

We are involved from time to time in routine legal matters and other claims incidental to our business. We review outstanding claims and proceedings internally and with external counsel as necessary to assess probability and amount of potential loss. These assessments are re-evaluated at each reporting period and as new information becomes available to determine whether a reserve should be established or if any existing reserve should be adjusted. The actual cost of resolving a claim or proceeding ultimately may be substantially different than the amount of the recorded reserve. In addition, because it is not permissible under GAAP to establish a litigation reserve until the loss is both probable and estimable, in some cases there may be insufficient time to establish a reserve prior to the actual incurrence of the loss (upon verdict and judgment at trial, for example, or in the case of a quickly negotiated settlement). We believe the resolution of routine legal matters and other claims incidental to our business, taking our reserves into account, will not have a material adverse effect on our business, financial condition, or results of operations.

Lease Commitments

We have operating leases for office facilities and equipment, including New York and other locations, which expire at various dates through fiscal 2028. These amounts have been included in the table below.

The following summarizes future minimum lease payments for our operating leases ^(a):



(In thousands)	Facilities		Equipment		Total
Year Ending March 31,
2019	$	2,928	$	333	$	3,261
2020	2,685		138		2,823
2021	2,505		31		2,536
2022	2,163		24		2,187
2023	1,683		10		1,693
Thereafter	8,487		—		8,487
	$	20,451	$	536	$	20,987

(a) Minimum lease payments have not been reduced by minimum sublease rentals of $1.0 million due in the future under non- cancellable subleases.

The following schedule shows the composition of total minimum lease payments that have been reduced by minimum sublease rentals:



	Year ending March 31,
(In thousands)	2018			2017
Minimum lease payments	$	20,987		$	10,982
Less: Sublease rentals	(1,018		)	(690		)
	$	19,969		$	10,292

Rent expense was $1.9 million, $2.0 million, and $1.8 million for 2018, 2017, and 2016, respectively.

Purchase Commitments

We have supply agreements for the manufacture of some of our products. The following table shows the minimum amounts that we are committed to pay under these agreements:



(In thousands)
Year Ending March 31,	Amount
2019	$	9,473
2020	9,839
2021	9,280
2022	9,280
2023	1,578
Thereafter	—
	$	39,450