Operating Leases

12 Months Ended

Dec. 31, 2016

The APEI Segment leases office space in Maryland and Virginia under operating leases that expire through September 2018. HCON operates five campuses in Ohio, located in the suburban areas of Cincinnati, Cleveland, Columbus, Dayton and Toledo under operating leases that expire through June 2029. Rent expense related to the APEI Segment’s operating leases was $1,666,000, $1,094,000 and $584,000 for the years ended December 31, 2014, 2015 and 2016, respectively. Rent expense related to the HCON Segment’s operating leases was $2,212,000, $2,347,000, and $2,528,000 for the years ended December 31, 2014, 2015 and 2016, respectively.

The minimum rental commitments due under the operating leases are as follows (in thousands):



Years Ending December 31,	Combined

2017	$	2,207
2018	1,891
2019	1,761
2020	1,803
2021 and beyond	7,555
Total minimum rental commitment	$	15,217