Commitments and Contingencies

Operating lease commitments Rental expense under operating leases was as follows:



In millions	December 31, 2018		December 31, 2017		December 31, 2016
Minimum lease payments under operating leases recognized in the consolidated income statement	$	4.8	$	5.1	$	4.8

At December 31, 2018, the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, principally related to buildings, items of machinery and equipment and motor vehicles, falling due as follows:



In millions	2019		2020		2021		2022		Thereafter		Total
Minimum lease payments	$	4.2	$	4.1	$	3.3	$	2.7	$	13.1	$	27.4

Capital commitments

At December 31, 2018, the Company had capital expenditure commitments of $2.5 million (2017: $0.6 million and 2016: $3.6 million) for the acquisition of new plant and equipment.

Committed banking facilities

At December 31, 2018 and 2017 the Company had committed banking facilities of $150.0 million. The facilities were for providing loans and overdrafts, with a separate facility for letters of credit which at December 31, 2018, was £7.0 million ($8.9 million), 2017 was £7.0 million ($9.5 million). Of the committed facilities, $3.5 million was drawn for overdrafts, no loans were drawn and no letters of credit were utilized at December 31, 2018, $4.2 million, $1.3 million and nil for 2017. The Company also has a separate bonding facility for bank guarantees denominated in GBP sterling of £3.0 million (2018: $3.8 million, 2017: $4.1 million), of which £1.5 million ($1.9 million) (2017: £1.0 million / $1.4 million) was utilized at December 31, 2018.

Aborted Acquisition of Neo Performance Materials Inc.

On March 10, 2019 we executed a termination agreement in respect of the proposed acquisition of Neo Performance Materials Inc., announced in December 2018. Under the terms of the agreement we are committed to make a payment of up to $3.5 million to cover Neo's costs.

Contingencies

During February 2014, a cylinder was sold to a long-term customer and ruptured at one of their gas facilities. As a result of this rupture, three people were noted to have minor injuries such as loss of hearing. There was no major damage to assets of the customer. A claim has been launched by the three people who were injured in the incident and a prosecutor has been appointed. We have reviewed our quality control checks from around the time which the cylinder was produced and no instances of failures have been noted. It has also been noted by the investigator that the customer has poor quality and safety checks. As a result we do not believe that we are liable for the incident, and therefore, do not currently expect this case to have a material impact on the Company's financial position or results of operations.