Note 6 - Operating Lease Commitments

9 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

6

.  Operating Lease Commitments

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

July 2021.

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

$

0.1

million during both the

three

months ended

December 31, 2018

and

2017,

respectively, and

$0.3

million during both the

nine

months ended

December 31, 2018

and

2017,

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

$0.03

million in sublease income during the

nine

months ended

December 31, 2017.