2019 BBNC Annual Report | Page 72

(14) LEASES PC leases most of its fueling sites and administrative office space under noncancelable operating leases, which expire at various times through 2028. Peak Oilfield Service Company leases most of its operational sites and administrative office space under noncancelable operating leases which expire at various times through 2025. CCI Industrial Services leases a warehouse and administrative offices under leases that expire through 2025. Some of the PC leases also require a contingent rent based upon gallons of fuel sold. Included in total rental expenses for March 31, 2019, 2018 and 2017 are contingent rents of $121,000, $118,000 and $86,000, respectively. At March 31, 2019, the minimum rental commitments under noncancelable operating leases payable over the remaining lives of the leases are as follows (in thousands): MINIMUM RENTALS 2020 $ 7,968 2021 6,911 2022 6,230 2023 5,820 2024 3,598 Thereafter 3,967 $ 34,494 Total rental expense charged to operations in 2019, 2018 and 2017 was $9,477,000, $9,590,000 and $9,190,000, respectively. Commencing in November 2012, the Corporation entered into a noncancelable operating lease of a building and land with a tenant expiring in 10 years. This building under lease had an aggregate cost and accumulated depreci- ation of $15,695,000 and $2,472,000 at March 31, 2019, and an aggregate cost and accumulated depreciation of $15,695,000 and $2,080,000 at March 31, 2018, respectively. Commencing in July 2016, the Corporation entered into a noncancelable operating lease of land and buildings with a tenant expiring in 25 years. This land and building under lease had an aggregate cost and accumulated depreciation of $3,418,000 and $235,000 at March 31, 2019, and an aggregate cost and accumulated depreciation of $3,493,000 and $148,000 at March 31, 2018, respectively. At March 31, 2019, the minimum future rental revenues under these noncancelable operating leases are as follows (in thousands): MINIMUM RENTALS 2020 $ 2021 2022 2,133 2023 2,235 2024 2,343 Thereafter 8,719 $ 70 1,957 2,035 BBNC FY2019 ANNUAL REPORT 19,422