Maximus, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Leases

Leases

12 Months Ended

Sep. 30, 2014

13. Leases

We lease office space and equipment under various operating leases. Lease expense for the years ended September 30, 2014, 2013 and 2012 was $61.8 million, $49.0 million and $37.6 million, respectively. Our operating leases may contain rent escalations or concessions. Lease expense is recorded on a straight-line basis over the life of the respective lease.

Minimum future lease commitments under leases in effect as of September 30, 2014 are as follows (in thousands):

	Office space		Equipment		Total
Year ended September 30,
2015	$	52,906	$	3,358	$	56,264
2016		35,007		1,394		36,401
2017		27,241		763		28,004
2018		14,751		648		15,399
2019		8,439		259		8,698
Thereafter		9,275		—		9,275

Total minimum lease payments	$	147,619	$	6,422	$	154,041

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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