Annual report pursuant to Section 13 and 15(d)

Operating Leases

v3.3.1.900
Operating Leases
12 Months Ended
Dec. 31, 2015
Operating Leases
9. 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,  
     2015      2014      2013  

Rent expense

   $ 2,026       $ 953       $ 577   

Less sublease rentals

     —           —           (47
  

 

 

    

 

 

    

 

 

 

Total rent expense

   $ 2,026       $ 953       $ 530   
  

 

 

    

 

 

    

 

 

 

 

The future minimum payment obligations as of December 31, 2015 for operating leases are as follows:

 

(in thousands)

      

2016

   $ 2,466   

2017

     2,313   

2018

     2,271   

2019

     1,709   

2020

     832   

Thereafter

     1,430   
  

 

 

 

Total future payment obligations

   $ 11,021