Commitments and Contingent Liabilities

The Company occupies certain facilities and sales offices and uses certain equipment under lease agreements. Rental expense for such leases was $20.1 million in fiscal 2017, $20.9 million in fiscal 2016, and $20.1 million in fiscal 2015.

Below are the minimum rental commitments at June 30, 2017, under all noncancelable operating leases due in succeeding fiscal years:



Years ending June 30,
(In thousands)
2018	$	18,401
2019	16,828
2020	16,562
2021	14,163
2022	13,281
Thereafter	55,429
Total minimum rentals	$	134,664

Most of the future lease payments relate to the lease of office facilities in New York City through December 31, 2026. In the normal course of business, leases that expire are generally renewed or replaced by leases on similar properties.

The Company has recorded commitments for broadcast rights payable in future fiscal years. The Company also is obligated to make payments under contracts for broadcast rights not currently available for use and therefore not included in the consolidated financial statements. Such unavailable rights amounted to $21.7 million at June 30, 2017. The fair value of these commitments for unavailable broadcast rights, determined by the present value of future cash flows discounted at the Company's current borrowing rate, was $20.9 million at June 30, 2017.

The table shows broadcast rights payments due in succeeding fiscal years:



Years ending June 30,	Recorded Commitments			Unavailable Rights
(In thousands)
2018		$	9,206		$	11,385
2019		10,519			6,232
2020		3,723			3,578
2021		3,375			549
2022		2,520			—
Thereafter		2,317			—
Total amounts payable		$	31,660		$	21,744

The Company is involved in certain litigation and claims arising in the normal course of business. In the opinion of management, liabilities, if any, arising from existing litigation and claims are not expected to have a material effect on the Company's earnings, financial position, or liquidity.