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,
	2019		2018
Real estate	$	12,516	$	10,997
Equipment	12,807		2,693
	25,323		13,690
Less accumulated amortization	9,536		7,315
	$	15,787	$	6,375

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, 2019:



Years ended April 30,	Capital leases		Operating leases
2020	$	3,103	$	1,703
2021	3,109		1,547
2022	3,096		1,354
2023	3,098		1,228
2024	2,548		1,066
Thereafter	9,215		10,438
Total minimum lease payments	24,169		$	17,336
Less amount representing interest	7,689
Present value of net minimum lease payments	$	16,480

The total rent expense under operating leases was $2,078 in 2019, $2,224 in 2018, and $1,936 in 2017.