Annual report pursuant to Section 13 and 15(d)

Leases

v3.8.0.1
Leases
12 Months Ended
Dec. 31, 2017
Leases, Operating [Abstract]  
Leases
Note 3. Leases

We lease certain assets under operating leases, which primarily consist of real estate leases for 34 of our 228 service center locations at December 31, 2017. 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, 2017 are as follows:
 
(In thousands)
 
Total
2018
 
$
12,609

2019
 
10,262

2020
 
7,907

2021
 
5,610

2022
 
4,016

Thereafter
 
25,362

 
 
$
65,766



Aggregate expense under operating leases was $14.1 million, $13.8 million and $15.2 million for 2017, 2016 and 2015, 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 each of December 31, 2017 and 2016.