Leases

The Company finances its use of certain motor vehicles under various lease arrangements provided by financial institutions. Future minimum lease payments under these capital leases as of March 31, 2017 are as follows:



Year ending March 31,
2018	$	269
2019	174
2020	114
2021	43
Total minimum lease payments	600
Less: amount representing interest	99
Present value of minimum lease payments	501
Less: current portion	216
Long term capital lease obligation	$	285

The Company conducts its operations using facilities leased under non-cancelable operating lease agreements that expire at various dates. Future minimum lease payments under non-cancelable agreements expiring after March 31, 2017 are set forth below:



Year ending March 31,
2018	$	10,218
2019	8,853
2020	5,628
2021	3,743
2022	1,540
2023 and thereafter	915
	$	30,897

The operating leases are subject to renewal periodically and have scheduled rent increases. The Company recognizes rent on such leases on a straight-line basis over the non-cancelable lease period determined under ASC topic 840, “Leases”. Rent expense under both cancelable and non-cancelable operating leases was $5,667 and $5,148 for the three months ended March 31, 2017 and 2016, respectively. Deferred rent as of March 31, 2017 and December 31, 2016 was $8,441 and $7,915, respectively, and is included under “Accrued expenses and other current liabilities” and “Non-current liabilities” in the unaudited consolidated balance sheets.