Annual report pursuant to Section 13 and 15(d)

Operating Leases

v2.4.1.9
Operating Leases
12 Months Ended
Dec. 31, 2014
Operating Leases
10. Operating Leases:

The Company leases office, warehouse and manufacturing facilities throughout the United States. Generally, the leases require the Company to pay the operating expenses of the properties, in some cases including property taxes. The majority of the Company’s leases include renewal options at existing or current market rates.

The following schedule shows the total rent expense under operating leases:

 

(in thousands)

   Year Ended December 31,  
     2014      2013      2012  

Rent expense

   $ 953       $ 577      $ 301   

Less sublease rentals

     —           (47 )      (35
  

 

 

    

 

 

    

 

 

 

Total rent expense

$ 953    $ 530    $ 266   
  

 

 

    

 

 

    

 

 

 

The future minimum payment obligations as of December 31, 2014 for operating leases are as follows:

 

2015

$ 1,057   

2016

  1,094   

2017

  1,017   

2018

  688   

2019

  390   

Thereafter

  1,500   
  

 

 

 

Total future payment obligations

$ 5,746