LEASE ARRANGEMENTS

12 Months Ended

Dec. 31, 2014

5.	LEASE ARRANGEMENTS

The Company leases office space, manufacturing, warehouse and service facilities and equipment for varying periods under both operating and capital lease agreements. Future minimum lease payments required under these lease commitments as of December 31, 2014 are as follows (in thousands):

	Capital		Operating
	Leases		Leases
2015		1,728		2,422
2016		1,416		1,948
2017		1,071		1,312
2018		926		834
2019		834		523
Thereafter		2,172		115
Total minimum lease payments	$	8,147	$	7,154
Interest		(893)
Present value of net minimum lease payments	$	7,254

Total rental expense was $5.8 million, $4.6 million and $3.6 million for 2014, 2013 and 2012, respectively. As of December 31, 2014 the total minimum rentals to be received in future periods under these lease commitments was less than $0.1 million.

- 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.

+ References+ Details