Leases - Note 8

12 Months Ended

Dec. 31, 2012

Leases Disclosure

Leases - Note 8

(8) Leases

The Company has a non-cancelable operating lease for its office space in Bedminster, New Jersey that expires in 2016. The Company also has non-cancelable operating leases for office space in Europe for the expansion of the Company's global business and certain equipment that expire between 2014 and 2015. Rent-free periods and other incentives granted under the leases and scheduled rent increases are charged to rent expense on a straight-line basis over the related terms of the lease. Rental expense for operating leases was approximately $1.7 million, $1.6 million, and $1.3 million for 2013, 2012, and 2011, respectively. The future lease payments under non-cancelable operating leases as of December 31, 2013 are as follows (in thousands):

		Operating
		leases
Year ending December 31:
2014	$	1,992
2015		1,910
2016		1,287
2017		-
2018		-
Total minimum lease payments	$	5,189