Leases and Rentals

12 Months Ended

Dec. 31, 2017

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 $25.4, $21.1 and $18.6 for 2017, 2016 and 2015, respectively. Future minimum operating lease payments under non-cancellable operating leases with an initial term in excess of one year as of December 31, 2017 are shown below.



2018	$	24.8
2019	20.2
2020	17.0
2021	16.6
2022	14.4
2023 and thereafter	58.2
Total minimum lease payments	$	151.2