Leases and Rentals

12 Months Ended

Dec. 31, 2016

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 $21.1, $18.6 and $18.7 for 2016, 2015 and 2014, respectively. Future minimum operating lease payments under non-cancellable operating leases with an initial term in excess of one year as of December 31, 2016 are shown below.



2017	$	22.8
2018	21.0
2019	18.4
2020	16.1
2021	15.4
2022 and thereafter	63.0
Total minimum lease payments	$	156.7