日韩三级片 Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

LEASE OBLIGATIONS

LEASE OBLIGATIONS

12 Months Ended

Dec. 31, 2017

Leases [Abstract]

听

LEASE OBLIGATIONS

NOTE 10 - LEASE OBLIGATIONS

We lease certain mining, production and other equipment under operating and capital leases. The leases are for varying lengths, generally at market interest rates and contain purchase and/or renewal options at the end of the terms. Our operating lease expense was $7.1 million, $7.6 million and $12.0 million for the years ended December听31, 2017, 2016 and 2015, respectively. Capital lease assets were $37.4 million and $29.3 million at December听31, 2017 and 2016, respectively. Corresponding accumulated amortization of capital leases included in respective allowances for depreciation were $21.0 million and $13.1 million at December听31, 2017 and 2016, respectively.

Future minimum payments under capital leases and non-cancellable operating leases at December听31, 2017 are as follows:



听	(In Millions)
听	Capital Leases		听	Operating Leases
2018	$	20.8	听	$	4.9
2019	12.1		听	1.8
2020	11.1		听	1.8
2021	10.5		听	1.8
2022	2.1		听	1.8
2023 and thereafter	鈥�		听	7.5
Total minimum lease payments	$	56.6	听	$	19.6
Amounts representing interest	8.8		听	听
Present value of net minimum lease payments¹	$	47.8	听	听
听	听		听	听
¹听The total is comprised of $16.9 million and $30.9 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Consolidated Financial Position at December听31, 2017.