Commitments And Contingencies

12 Months Ended

Dec. 31, 2014

Commitments And Contingencies [Abstract]

Commitments And Contingencies

(11)Commitments and Contingencies

The Company utilizes certain office facilities and office equipment under non-cancelable operating lease agreements which generally have original terms of up to five years. Future minimum lease payments required under non-cancellable operating leases having an original term of more than one year as of December 31, 2014 are as follows (in thousands):

	Office
	Facilities
	and
	Equipment
Year ending December 31:
2015	$	1,431
2016		1,174
2017		967
2018		104
2019		48
	$	3,724

Office facility expense was $1.5 million for the year ended December 31, 2014 and$1.4 million for the years ended December 31, 2013 and 2012, and was included in marketing, general and administrative expense in the consolidated statements of income.

As of December 31, 2014 and 2013, the Company had one outstanding letter of credit of $0.1 million. The letter of credit guarantees the Company’s obligations under certain operating lease agreements.

In addition to the rental equipment payable of $7.4 million, the Company had commitments to purchase approximately $122.5  million of container equipment as of December 31, 2014.

In the ordinary course of business, the Company executes contracts involving indemnifications standard in the industry and indemnifications specific to a transaction such as an assignment and assumption agreement. These indemnifications might include claims related to tax matters, governmental regulations, and contractual relationships. Performance under these indemnities would generally be triggered by a breach of terms of a contract or by a third-party claim. The Company regularly evaluates the probability of having to incur costs associated with these indemnifications and as of December 31, 2014 there were no claims outstanding under such indemnifications and the Company believes that no claims are probable of occurring in the future.