10.	COMMITMENTS AND CONTINGENCIES

We lease buildings, machinery and equipment under various non-cancelable operating lease agreements expiring at various dates through

2026.

Certain of these leases contain scheduled rent increases and/or renewal options. Contractual rent increases are taken into account when calculating the minimum lease payment and recognized on a straight-line basis over the lease term. Rent expense under operating lease agreements totaled

$12.0

million for Fiscal

2017,

$9.2

million for Fiscal

2016

and

$8.2

million for Fiscal

2015.

Our minimum lease payments under non-cancelable operating leases as of

April 29, 2017

were as follows:

	(In thousands)
Fiscal 2018	$	8,216
Fiscal 2019		7,546
Fiscal 2020		6,168
Fiscal 2021		3,520
Fiscal 2022		1,904
Thereafter		2,922
Total minimum lease payments	$	30,276

As of

April 29, 2017,

we guaranteed the residual value of certain leased equipment in the amount of

$2.5

million. If the proceeds from the sale of such equipment are less than the balance required by the lease when the lease terminates on

August 1, 2017,

the Company shall be required to pay the difference up to such guaranteed amount. The Company does

not

expect to incur a loss on such guarantee.

We enter into various agreements with suppliers for the purchase of raw materials, the terms of which

may

include variable or fixed pricing and minimum purchase quantities. As of

April 29, 2017,

we had purchase commitments for raw materials of

$12.7

million through

2021.

As of

April 29, 2017,

we had purchase commitments for plant and equipment of

$2.6

million for Fiscal

2018.

From time to time, we are a party to various litigation matters and claims arising in the ordinary course of business. We do

not

expect the ultimate disposition of such matters to have a material adverse effect on our consolidated financial position or results of operations.