Rental expense amounted to approximately $72,802,000 in 1994, $58,369,000 in 1993, and $45,875,000 in 1992.

The future minimum rental commitments, net of future minimum rentals to be received under noncancelable subleases, as of December 31, 1994 for all noncancellable operating leases are as follows ($ thousands):

                                     Terminals    Equipment
                                    and Retread      and
Period                    Total        Plants       Other  

1995                   $  25,401    $  10,113    $  15,288
1996                      14,383        7,219        7,164
1997                       8,693        4,339        4,354
1998                       5,839        2,597        3,242
1999                       3,921        1,882        2,039
Thereafter                 9,140        8,014        1,126 
                       $  67,377    $  34,164    $  33,213 

Certain of the leases are renewable for substantially the same rentals for varying periods. Future minimum rentals to be received under noncancellable subleases totaled approximately $3,021,000 at December 31, 1994.

The future minimum payments under capitalized leases at December 31, 1994, consisted of the following ($ thousands) :

        1995                                      $ 18,361
        1996                                        11,467
        1997                                         7,691
        1998                                         9,403
        1999                                         7,717
        Thereafter                                   5,860 
        Total minimum lease payments                60,499
        Amounts representing interest                9,439 
        Present value of net minimum lease 
           included in long-term debt - Note E    $ 51,060 

Assets held under capitalized leases are included in property, plant and equipment as follows:

                                          December 31
                                       1994         1993   
                                           ($ thousands)

Revenue equipment                   $  80,318    $  84,882
Land and structures                     4,726        7,498 
                                       85,044       92,380
Less accumulated amortization          32,291       40,134 
                                    $  52,753    $  52,246 

The revenue equipment leases have remaining terms from one to seven years and contain renewal or fixed price purchase options. The lease agreements require the lessee to pay property taxes, maintenance and operating expenses. Lease amortization is included in depreciation expense.

Capital lease obligations of $15,793,000, $17,885,000 and $5,491,000 were incurred for the years ended December 31, 1994, 1993 and 1992, respectively.

Commitments for purchase of revenue equipment aggregated approximately $47,409,000 at December 31, 1994.

Commitments for capital expenditures aggregate approximately $9.1 million at December 31, 1994 for construction of a new corporate office building. The total construction cost of the new building is anticipated to approximate $23 million, of which $13.9 million is included in construction in progress as of December 31, 1994.

The Company incurred annual fees of $300,000 in 1992 for services rendered by a former shareholder. An additional $1,000,000 was paid as an advisory fee in connection with the repurchase of the Notes (Note A). The service agreement with this shareholder was terminated effective December 31, 1992.