Leases

The Company had leased assets under capital leases totaling

$49.3

million as of

March 31, 2018

and

$40.9

million as of

March 31, 2017.

The leases consist of a building lease expiring in

2030

with an interest rate of

5.15%

and several equipment leases all with

year terms and various interest rates between

3.37%

and

4.21%.

Leased assets under capital leases consist of the following:

	2018		2017

Land	$	-	$	-
Buildings		5,313		5,313
Equipment		43,980		35,597
		49,293		40,910
Less accumulated amortization		6,121		1,706
	$	43,172	$	39,204

The Company has operating leases for equipment expiring at various dates through

2031.

Operating leases generally provide for early purchase options

one

year prior to expiration.

The following is a schedule, by year, of minimum operating and capital lease payments due as of

March

31,

2018

(in thousands):

Years ending March 31:	Operating		Capital
2019	$	36,459	$	7,679
2020		31,474		7,679
2021		25,254		7,678
2022		16,488		7,678
2023		9,610		7,678
2024-2031		4,369		9,744
Total minimum payment required	$	123,654	$	48,136
Less interest				6,127
Present value of minimum lease payments				42,009
Amount due within one year				6,113
Long-term capital lease obligation			$	35,896

Lease expense in fiscal

2018,

2017

and

2016

was

$47.0

million,

$48.3

million and

$51.4

million, respectively.