EEI 2017 Form 10-K

Fiscal Year Ending July 31, Amount (in thousands) 2018 $ 2,635 2019 1,999 2020 1,367 2021 1,209 2022 774 Thereafter 516 Table of Contents During fiscal year 2015, Gustavson Associates, LLC (“Gustavson”), a majority owned indirect subsidiary of EEI, purchased an additional 7.2% of its outstanding common shares from noncontrolling shareholders for $0.3 million, paid as follows: (i) $0.1 million of cash paid on the transaction date; and (ii) $0.2 million payable in 3 annual installments during fiscal years 2016, 2017 and 2018, plus interest accrued at 6% per annum. EEI’s indirect ownership of Gustavson increased to 83.6% as a result of this transaction. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are summarized in the following table. Balance at July 31, 2017 2016 (in thousands) Unrealized net foreign currency translation losses $ (2,033) $ (2,176) Unrealized net investment gains on available for sale investments 15 33 Total accumulated other comprehensive loss $ (2,018) $ (2,143) 16. Operating Lease Commitments The Company rents certain office facilities and equipment under non-cancelable operating leases and certain other facilities for servicing project sites over the term of the related long- term government contracts. Lease agreements may contain step rent provisions and/or free rent concessions. Lease payments based on a price index have rent expense recognized on a straight line or substantially equivalent basis, and are included in the calculation of minimum lease payments. Gross rental expense associated with lease commitments was $3.4 million in fiscal year 2017 and $3.5 million in fiscal years 2016 and 2015. Future minimum rental commitments under operating leases as of July 31, 2017 are summarized in the following table. 17. Defined Contribution Plans Contributions to the EEI Defined Contribution Plan and EEI Supplemental Retirement Plan are discretionary and determined annually by its Board of Directors. The total expense under this plan was $1.5 million, $1.4 million, and $1.2 million for fiscal years 2017, 2016 and 2015, respectively. 18. Earnings Per Share The computation of basic and diluted EPS is included in the following table. Fiscal Year Ended July 31, 2017 2016 2015 (in thousands, except share and per share amounts) Net income attributable to Ecology and Environment, Inc. $ 3,015 $ 886 $ 3,396 Dividend declared 1,719 1,895 2,067 Undistributed earnings (distributions in excess of earnings) $ 1,296 $ (1,009) $ 1,329 Weighted-average common shares outstanding - basic and diluted 4,294,501 4,289,993 4,287,775 Distributed earnings per share $ 0.40 $ 0.44 $ 0.48 Undistributed earnings (distributions in excess of earnings) per share 0.30 (0.23) 0.31 Total earnings per share $ 0.70 $ 0.21 $ 0.79 55