Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS

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LEASE OBLIGATIONS
 9 Months Ended
Sep. 30, 2015
Leases [Abstract]  
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 related to continuing operations was $3.2 million and $9.5 million for the three and nine months ended September 30, 2015, respectively, compared with $4.4 million and $13.9 million for the same respective periods in 2014.
Future minimum payments under capital leases and non-cancellable operating leases at September 30, 2015 are as follows:
 
(In Millions)
 
Capital Leases
 
Operating Leases
2015 (October 1 - December 31)
$
5.9

 
$
2.6

2016
23.2

 
7.6

2017
21.3

 
7.0

2018
17.2

 
6.4

2019
9.5

 
4.8

2020 and thereafter
17.5

 
9.9

Total minimum lease payments
$
94.6

 
$
38.3

Amounts representing interest
19.5

 
 
Present value of net minimum lease payments
$
75.1

(1) 
 
                                         
(1) 
The total is comprised of $16.9 million and $58.2 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position at September 30, 2015.