LEASES

The Company leases certain property and equipment used in its operations. Generally, the leases are for primary terms of 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,
	2018		2017
Real estate	$	10,997	$	13,480
Equipment	2,693		2,693
	13,690		16,173
Less accumulated amortization	7,315		7,039
	$	6,375	$	9,134

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, 2018:



Years ended April 30,	Capital leases		Operating leases
2019	$	824	$	1,053
2020	829		710
2021	826		453
2022	835		309
2023	807		103
Thereafter	9,453		755
Total minimum lease payments	13,574		$	3,383
Less amount representing interest	5,475
Present value of net minimum lease payments	$	8,099

The total rent expense under operating leases was $2,224 in 2018, $1,936 in 2017, and $1,862 in 2016.