Note 8 - Operating Lease Commitments

6 Months Ended

Sep. 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-can

celable 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

September 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

were terminated via mutual agreement during the

three

months ended

September 30, 2017.

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

$0.01

million and

$0.03

million in sublease income during the

three

and

six

months ended

September 30, 2017,

respectively.