Note 6 – Leases

The Company leases certain real estate, for commercial, production, and retail purposes, as well as equipment from third parties. Lease expiration dates are between 2018 and 2025. A portion of capital leases are denominated in foreign currencies. Many of these leases include renewal options and in some cases options to purchase.

Annual future commitments under non-cancelable leases as of March 31, 2018, consist of the following:


	Lease Obligations
$'s in 000's	Operating Leases		Capital Leases
Remainder of 2018	$	3,035	$	1,147
2019		1,968		1,294
2020		1,284		818
2021		511		184
2022		430		73
Thereafter		242		21
Total minimum future obligations	$	7,470	$	3,537
Less interest				(209)
Present value of net future minimum obligations				3,328
Less current capital lease obligations				(1,337)
Long-term capital lease obligations			$	1,991

The net book value of assets under capital lease was $4,285 thousand and $850 thousand as of March 31, 2018 and December 31, 2017, respectively. Total operating lease expense for the three months ended March 31, 2018 and 2017 totaled $862 thousand and $460 thousand, respectively.