NOTE 13. LEASE FINANCING OBLIGATIONS

We have acquired engineering design tools (“Design Tools”) under capital leases. We acquired design tools of $0.9 million in July 2012 under a three-year license, $4.5 million in December 2011 under a three-year license, $5.8 million in October 2011 under a three-year license, $1.0 million in June 2010 under a three-year license, $1.3 million in December 2009 under a 28-month license, and $1.1 million in July 2009 under a three-year license, all of which were accounted for as capital leases and recorded in the property, plant and equipment, net line item in the condensed consolidated balance sheets. The obligations related to the Design Tools were included in other current liabilities and long-term lease financing obligations in our condensed consolidated balance sheets as of December 30, 2012 and April 1, 2012, respectively. The effective interest rates for the Design Tools range from 2.0% to 7.25%.

Amortization expense related to the Design Tools, which was recorded using the straight-line method over the remaining useful life for the periods indicated below was as follows (in thousands):


	Three Months Ended				Nine Months Ended
	December 30, 2012		January 1, 2012		December 30, 2012		January 1, 2012
Amortization expense	$	818	$	992	$	2,659	$	2,780

Future minimum lease and sublease income payments for the lease financing obligations as of December 30, 2012 are as follows (in thousands):


Fiscal Years	Design Tools
2013 (3 months remaining)	$	335
2014		3,284
2015		1,320
2016		10
2017 and thereafter		16

Total minimum lease payments		4,965
Less: amount representing interest		(229	)

Present value of minimum lease payments		4,736
Less: short-term lease financing obligations		(3,138	)

Long-term lease financing obligations	$	1,598

Interest expense for the lease financing obligations for the periods indicated below was as follows (in thousands):


	Three Months Ended				Nine Months Ended
	December 30, 2012		January 1, 2012		December 30, 2012		January 1, 2012
Interest expense	$	35	$	60	$	107	$	181

In the course of our business, we enter into arrangements accounted for as operating leases related to the licensing of engineering design software and the rental of office space. Rent expenses for all operating leases for the periods indicated below were as follows (in thousands):


	Three Months Ended				Nine Months Ended
	December 30, 2012		January 1, 2012		December 30, 2012		January 1, 2012
Rent expense	$	149	$	343	$	456	$	1,075

Our future minimum lease payments for the lease operating obligations as of December 30, 2012 are as follows (in thousands):


Fiscal Years	Amount
2013 (3 months remaining)	$	134
2014		210
2015		105
2016		73
2017 and thereafter		91

Total minimum lease payments	$	613