Amtrak 2015 Annual Report Download - page 31

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National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
7. Leasing Arrangements (continued)
29
Operating Leases
As of September 30, 2015, Amtrak is obligated for the following minimum rental payments under operating
lease agreements (in thousands):
Year ending September 30,
2016 $ 16,308
2017 15,599
2018 12,888
2019 9,499
2020 7,175
Thereafter 30,276
Total $ 91,745
Rent expense for FY2015 and FY2014 was $52.0 million and $53.3 million, respectively.
Amtrak leases offices, operating areas, stations and other terminal space. These leases often contain renewal
options to enable the Company to retain the use of facilities. Some of the leases contain escalation clauses
that increase the rents based on a fixed or variable rate, such as an inflation factor index. Under certain leases,
the Company is obligated to pay additional amounts based on the facility’s operating expenses.