LEASES

Capital Leases

The Corporation leases certain machinery and equipment under agreements that are classified as capital leases. As of December 31, 2016, the future minimum lease payments required under the capital leases and the present value of the net minimum lease payments for the years ending December 31 are as follows:



	Amount
2017	$	58
2018	—
2019	—
2020	—
2021	—
Thereafter	—
Total minimum lease payments	58
Less: amount representing interest	(2		)
Present value of net minimum lease payments	56
Less: current maturities of capital lease obligations	(56		)
Long-term capital lease obligations	$	—

Assets recorded under capital leases and included in property and equipment in the Corporation’s consolidated balance sheets consist of the following:



	December 31,
	2016			2015
Vehicles	92			373
Office equipment	106			102
Total cost of property and equipment under capital leases	198			475
Less: accumulated amortization	(92		)	(256		)
Property under capital leases, net	$	106		$	219

Operating Leases

The Corporation has several noncancelable operating leases, primarily for office, warehouse space, and corporate apartments that are set to expire over the next five years. These leases generally contain renewal options for a one-year period and require the Corporation to pay all executory costs such as maintenance and insurance. Rental expense for operating leases for the years ended December 31, 2016 and 2015 was $23,269 and $7,288, respectively.

As of December 31, 2016, future minimum lease payments under noncancelable operating leases (with initial or remaining lease terms in excess of one year) for the years ending December 31 are as follows:



	Amount
2017	$	2,685
2018	2,062
2019	1,302
2020	202
2021	—
Thereafter	—
Total future minimum lease payments	$	6,251