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Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS

v3.5.0.2
LEASE OBLIGATIONS
6 Months Ended
Jun. 30, 2016
Leases [Abstract] Ìý
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 $2.2 million and $4.6 million for the three and six months ended JuneÌý30, 2016, compared with $2.0 million and $6.3 million for the same period in 2015.
Future minimum payments under capital leases and non-cancellable operating leases at JuneÌý30, 2016 are as follows:
Ìý
(In Millions)
Ìý
Capital Leases
Ìý
Operating Leases
2016 (July 1 - December 31)
$
12.4

Ìý
$
4.6

2017
22.8

Ìý
8.9

2018
18.4

Ìý
7.5

2019
10.2

Ìý
4.9

2020
9.2

Ìý
4.9

2021 and thereafter
9.3

Ìý
5.0

Total minimum lease payments
$
82.3

Ìý
$
35.8

Amounts representing interest
15.4

Ìý
Ìý
Present value of net minimum lease payments
$
66.9

(1)Ìý
Ìý
(1)Ìý
The total is comprised of $18.2 million and $48.7 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at JuneÌý30, 2016.