Leases and Rentals

12 Months Ended

Dec. 31, 2015

LEASES AND RENTALS

ITT leases certain offices, manufacturing buildings, land, machinery, automobiles, computers and other equipment. The majority of leases expire at various dates through 2027 and may include renewal and payment escalation clauses. ITT often pays maintenance, insurance and tax expense related to leased assets. Rental expenses under operating leases were $18.6, $18.7 and $14.7 for 2015, 2014 and 2013, respectively. Future minimum operating lease payments under non-cancellable operating leases with an initial term in excess of one year as of December 31, 2015 are shown below.



2016	$	21.7
2017	18.2
2018	17.6
2019	14.9
2020	11.9
2021 and thereafter	72.6
Total minimum lease payments	$	156.9