15. Commitments and Contingencies Purchase Obligations During the normal course of its business, the Company enters into agreements to purchase goods and services, including purchase commitments for production materials, finished goods inventory, capital expenditures and endorsement arrangements with professional golfers. The reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of September30,2016. Purchase obligations by the Company as of September30,2016 were as follows: Payments Due by Period Remainder of (in thousands) 2016 2017 2018 2019 2020 Thereafter Purchase obligations $ 137,305 $ 38,469 $ 15,875 $ 1,884 $ 1,456 $ 4,748 Lease Commitments The Company leases certain warehouses, distribution and office facilities, vehicles and office equipment under operating leases. The Company has an operating lease for certain vehicles that provides for a residual value guarantee. The lease has a noncancelable lease term of one year and may be renewed annually over the subsequent five years. The Company has the option to terminate the lease at the annual renewal date. Termination of the lease results in the sale of the vehicles and the determination of the residual value. The residual value is calculated by comparing the net proceeds of the vehicles sold to the depreciated value at the end of the renewal period. The Company is not responsible for any deficiency resulting from the net proceeds being less than 20% of the original cost in the first year and 20% of the depreciated value for all subsequent years. The Company believes that this guarantee will not have a significant impact on the consolidated financial statements. Contingencies In connection with the Companys acquisition of Acushnet Company, Beam indemnified the Company for certain tax related obligations that relate to periods during which Fortune Brands,Inc. owned Acushnet Company. As of September30,2016, the Companys estimate of its receivable for these indemnifications