v3.7.0.1
Lease Commitments
12 Months Ended
Dec. 31, 2016
Leases [Abstract]  
Lease Commitments

(12) Lease Commitments

The Company leases certain property and equipment under capital and operating lease arrangements that expire at various dates through 2036. Most of the operating leases provide the option, after the initial lease term, either to purchase the property or renew its lease at the then fair value.

Future minimum lease payments by the Company under capital and operating leases that have initial or remaining noncancelable terms in excess of one year as of December 31, 2016 are as follows:

 

 

 

Capital

Leases

 

 

Operating

Leases

 

 

 

(In millions)

 

Company minimum lease payments:

 

 

 

 

 

 

 

 

2017

 

$

3.9

 

 

 

11.3

 

2018

 

 

4.0

 

 

 

9.6

 

2019

 

 

4.1

 

 

 

7.6

 

2020

 

 

4.2

 

 

 

6.9

 

2021

 

 

4.3

 

 

 

5.5

 

Thereafter

 

 

58.3

 

 

 

26.7

 

Total minimum payments

 

 

78.8

 

 

$

67.6

 

Amount representing interest

 

 

(56.0

)

 

 

 

 

Obligations under capital leases

 

 

22.8

 

 

 

 

 

Obligations due within one year

 

 

(0.1

)

 

 

 

 

Long-term obligations under capital leases

 

$

22.7

 

 

 

 

 

 

Rental expense for operating leases was $14.5 million for 2016, $12.9 million for 2015, and $12.4 million for 2014.