LEASES

The Company leases certain property and equipment used in its operations. Generally, the leases are for primary terms of from five to twenty years with options either to renew for additional periods or to purchase the premises and call for payment of property taxes, insurance, and maintenance by the lessee.

The following is an analysis of the leased property under capital leases by major classes:



	Asset balances at April 30,
	2015		2014
Real estate	$	13,480	$	13,668
Equipment	2,564		2,610
	16,044		16,278
Less accumulated amortization	5,666		5,202
	$	10,378	$	11,076

Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at April 30, 2015:



Years ended April 30,	Capital leases		Operating leases
2016	$	904	$	910
2017	868		827
2018	870		814
2019	876		553
2020	967		246
Thereafter	11,992		87
Total minimum lease payments	16,477		$	3,437
Less amount representing interest	6,834
Present value of net minimum lease payments	$	9,643

The total rent expense under operating leases was $1,961 in 2015, $1,424 in 2014, and $1,773 in 2013.