LEASES

We rent office space and equipment under non-cancelable operating leases that expire at various times through fiscal year 2022. Future minimum lease payments under non-cancelable operating leases for the next five fiscal years are as follows:



	Facilities		Equipment		Fiscal Year Totals
2017 (three months remaining)	$	256,000	$	3,000	$	259,000
2018	1,039,000		11,000		1,050,000
2019	967,000		11,000		978,000
2020	504,000		11,000		515,000
2021	519,000		2,000		521,000
Thereafter	445,000		—		445,000
Total	$	3,730,000	$	38,000	$	3,768,000

Rent and leasing expense for facilities and equipment was $295,000 and $309,000 for the three months ended October 31, 2017 and 2016, respectively, and $920,000 and $955,000 for the nine months ended October 31, 2017 and 2016, respectively.

The Company had capital leases to finance office equipment purchases that continued into the third quarter of fiscal 2017. The amortization expense of the leased equipment was included in depreciation expense. As of October 31, 2017, the Company had no capital lease obligations outstanding.