Note 8 - Operating Lease Commitments

3 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

8

.  Operating Lease Commitments

The Company leases office space in London, United Kingdom, Aix-en-Provence, France, Paris, France, Atlanta, Georgia, the District of Columbia and, for its headquarters, in Carmel, Indiana. The leases are non-cancelable operating leases with various expirations through

August 2020.

Rent expense, which is recognized on a straight-line basis over the lease term, was

$0.1

million and

$0.2

million during the

three

months ended

June 30, 2017

and

2016,

respectively. The difference between the lease payments made and the lease expense recognized to date using the straight-line method is recorded as a liability and included within other accrued liabilities in the condensed consolidated balance sheets.

During the

third

quarter of fiscal year

2017,

the Company began subleasing a portion of its rental space in the District of Columbia to a related party associated with the Chairman of the Board of Directors. The subleases are non-cancelable leases expiring in

August 2018.

Rental income from the subleases is recognized on a straight-line basis over the lease term. The Company recognized

$13,000

in sublease income during the

three

months ended

June 30, 2017.