COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 13. COMMITMENTS AND CONTINGENCIES

Commitments

We are party to operating leases for office space, under which we incur rent expense that we recognize on a straight-line basis over the lease term. For the years ended December 31, 2014 and 2013, we incurred approximately $0.3 million and $0.6 million of rent expense, respectively.

The following table presents future minimum lease payments under non-cancelable operating leases (in thousands): 

	Future Minimum Lease Payments
2015	$	336
2016	56
Total	$	392

During 2013, we established a liability (recorded in Accrued expense and other current liabilities on our consolidated balance sheet) related to the early termination of certain of our operating leases, one of which we have sublet to a third party. The following table summarizes the activity related to the liability for early termination costs:

	2014			2013
Balance at beginning of period	$	360		$	—
Charges or reversals	(93		)	395
Costs paid or settled	(154		)	(35		)
Balance at end of period	$	113		$	360

Contingencies

We are neither subject to any material pending legal proceeding nor are we aware of any material threatened claims against us; therefore, we have not accrued any contingent liabilities.