Commitments and Contingencies Leases The Company leases office and warehouse space under non-cancelable operating leases that expire through 2023. The Company also leases certain equipment under a capital lease that expires in 2020. Lease expense and future minimum lease payments under operating leases and the single capital lease are as follows: Fiscal Year Ended June 30, 2017 2016 2015 (in thousands) Lease expense $ 8,703 $ 7,394 $ 6,168 Operating Lease Payments Capital Lease Payments Total Payments (in thousands) Fiscal Year Ended June 30, 2018 $ 7,873 $ 579 $ 8,452 2019 5,939 579 6,518 2020 4,906 579 5,485 2021 3,952  3,952 2022 3,244  3,244 Thereafter 13,629  13,629 Total future minimum lease payments 39,543 1,737 41,280 Less: amounts representing interest on capital lease  50 50 Total future minimum principal lease payments $ 39,543 $ 1,687 $ 41,230 On July 6, 2016, the Company entered into an amended agreement to continue to lease approximately 741,000 square feet for distribution, warehousing and storage purposes in a building located in Southaven, Mississippi. The term of the lease is 135 months with 2 consecutive 5 -year extension options. The Company's existing capital lease expired in June 2017. On February 14, 2017, the Company modified an equipment lease transaction for certain information technology infrastructure located in the Greenville, South Carolina facility. The Company determined this lease qualifies as a capital lease and accordingly, has recorded a capital lease obligation equal to the present value of the minimum lease payments of $1.7 million scheduled to begin on July 1, 2017. The lease term is 42 months with an expiration date during 2020. The components of the Company's capital lease as of June 30, 2017 are as follows: Capital Lease Obligations Property &amp; Equipment Accumulated Depreciation Net Book Value Short-Term Long-Term Total (in thousands) IT Infrastructure $ 1,687 $  $ 1,687 $ 553 $ 1,134 $ 1,687 Commitments and Contingencies A majority of the Companys net revenues i