Commitments and Other Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Other Contingencies

Commitments and Other Contingencies

We lease facilities and equipment under non-cancelable long-term operating lease agreements. In addition, we have various obligations under other office space and equipment leases of less than one year. Rent expense on facilities and equipment, including amounts recorded as discontinued operations, was $2,101,000 in 2017, $1,923,000 in 2016 and $3,872,000 in 2015. Future minimum rental commitments under non-cancelable operating leases having an initial or remaining term in excess of one year are: 2018 — $1,313,000; 2019 — $208,000; 2020 — $180,000; 2021 — $61,000; 2022 — $0; and thereafter —$0.

We lease office space in Austin, Texas, as our corporate headquarters and in other locations in support of our business operations. The total remaining contractual obligations for these leases is $1,762,000.

In support of our core community development business, we have a $40,000,000 surety bond program that provides financial assurance to beneficiaries related to execution and performance of our land development business. At year-end 2017, there were $14,708,000 outstanding under this program.