Annual report pursuant to Section 13 and 15(d)

Leases

v3.6.0.2
Leases
12 Months Ended
Dec. 31, 2016
Leases, Operating [Abstract]  
Leases
Note 3. Leases

We lease certain assets under operating leases, which primarily consist of real estate leases for 44 of our 226 service center locations at December 31, 2016. Certain operating leases provide for renewal options, which can vary by lease and are typically offered at their fair rental value. We have not made any residual value guarantees related to our operating leases; therefore, we have no corresponding liability recorded on our Balance Sheets.

Future minimum annual lease payments for assets under operating leases as of December 31, 2016 are as follows:
 
(In thousands)
 
Total
2017
 
$
12,340

2018
 
8,591

2019
 
5,617

2020
 
3,895

2021
 
3,234

Thereafter
 
27,970

 
 
$
61,647



Aggregate expense under operating leases was $13.8 million, $15.2 million and $16.5 million for 2016, 2015 and 2014, respectively. Certain operating leases include rent escalation provisions, which we recognize as expense on a straight-line basis.

We did not have any assets under capital leases at December 31, 2016. At December 31, 2015, we leased certain information systems under capital leases with a gross carrying value of $3.6 million and accumulated amortization of $0.4 million.