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Commitments | 9 Months Ended
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Jun. 30, 2018
Commitments |
13. | Commitments
At June 30, 2018, the Company leased 28 aircraft under noncancelable operating leases with remaining terms of up to 5.75 years. The Company has the option to terminate certain leases at various times throughout the lease. The Company headquarters and other facility noncancelable operating leases have remaining terms of up to nine years. The leases require the Company to pay all taxes, maintenance, insurance, and other operating expenses. Rental expense is recognized on a straight-line basis over the lease term, net of lessor rebates and other incentives. Aggregate rental expense under all operating aircraft, equipment and facility leases totaled approximately $21.6 million and $21.0 million for the three months ended June 30, 2018 and 2017, respectively, and $62.8 million and $62.3 million for the nine months ended June 30, 2018 and 2017, respectively. Future minimum lease payments as of June 30, 2018, under noncancelable operating leases are as follows (in thousands):
Periods Ending September 30, |  | Aircraft |  |  | Other |  |  | Total |
Remainder of 2018 |  | $ | 18,146 |  |  | $ | 730 |  |  | $ | 18,876 |
2019 |  |  | 63,449 |  |  |  | 2,007 |  |  |  | 65,456 |
2020 |  |  | 45,534 |  |  |  | 1,580 |  |  |  | 47,114 |
2021 |  |  | 44,314 |  |  |  | 1,367 |  |  |  | 45,681 |
2022 |  |  | 29,751 |  |  |  | 1,339 |  |  |  | 31,090 |
Thereafter |  |  | 24,267 |  |  |  | 4,013 |  |  |  | 28,280 |
Total |  | $ | 225,461 |  |  | $ | 11,036 |  |  | $ | 236,497 |
The majority of the Company’s leased aircraft are leased through trusts that have a sole purpose to purchase, finance, and lease these aircraft to the Company; therefore, they meet the criteria of a variable interest entity. However, since these are single-owner trusts in which the Company does not participate, the Company is not at risk for losses and is not considered the primary beneficiary. Management believes that the Company’s maximum exposure under these leases is the remaining lease payments.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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