Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS

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LEASE OBLIGATIONS
 9 Months Ended
Sep. 30, 2018
Leases [Abstract]  
LEASE OBLIGATIONS
NOTE 12 - LEASE OBLIGATIONS
We lease certain building space, mining, production and other equipment under operating and capital leases. The capital 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 $1.1 million and $2.9 million for the three and nine months ended September 30, 2018, respectively, compared with $1.2 million and $3.5 million for the comparable period in 2017.
Future minimum payments under capital leases and non-cancellable operating leases as of September 30, 2018 are as follows:
 
(In Millions)
 
Capital Leases
 
Operating Leases
2018 (October 1 - December 31)
$
1.1

 
$
1.1

2019
3.9

 
3.5

2020
3.7

 
3.1

2021
3.0

 
2.4

2022
6.2

 
1.8

2023 and thereafter
—

 
7.5

Total minimum lease payments
$
17.9

 
$
19.4

Amounts representing interest
2.1

 
 
Present value of net minimum lease payments1
$
15.8

 
 
 
 
 
 
1 The total is comprised of $3.4 million and $12.4 million classified as Other current liabilities and Other liabilities, respectively, in the Statements of Unaudited Condensed Consolidated Financial Position as of September 30, 2018.