Leases - Note 8

12 Months Ended

Dec. 31, 2014

Leases Disclosure

Leases - Note 8

(8) Leases

The Company has non-cancelable operating leases for its office space in Bedminster, New Jersey that expire 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 2015 and 2016. 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 $2.6 million, $1.7 million, and $1.6 million for 2014, 2013, and 2012, respectively. The future lease payments under non-cancelable operating leases as of December 31, 2014 are as follows (in thousands):

		Operating
		leases
Year ending December 31:
2015	$	3,154
2016		1,835
2017		4
2018		-
2019		-
Total minimum lease payments	$	4,993