LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2013

Leases [Abstract]

Lease Commitments

LEASE COMMITMENTS

Operating Leases:

We lease our Louisville, Kentucky facility from a related party (see Note 11 - "Related Party Transactions") under an operating lease that, as of December 31, 2012, automatically renewed for a five-year option period under terms of the lease agreement. The rent was adjusted in January 2008 per the agreement to monthly payments of $48.5 thousand through December 2012. Effective January 1, 2013, the lease amount increased to $53.8 thousand per month based on the CPI index as stated in the lease agreement. In addition, the Company is also responsible for real estate taxes, insurance, utilities and maintenance expense.

We lease equipment from a related party (see Note 11 - "Related Party Transactions") under operating leases expiring November 2015 and May 2016 for a monthly payment totaling $10.5 thousand.

We lease office space in Dallas, Texas. The lease was renewed effective October 1, 2013 for a period of one year with monthly payments of $1.0 thousand.

We lease a lot in Louisville, KY for a term that commenced in March 2012 and ends in February 2016. The monthly payment amount from March 2012 through February 2014 was $3.5 thousand. The monthly payment amount then increased to $3.8 thousand for the remaining term.

We leased a facility in Lexington, Kentucky for $4.5 thousand per month; the lease terminated February 10, 2012. We subleased this property for a term that commenced March 1, 2007 and ended January 31, 2012 for $4.5 thousand per month.

Future minimum lease payments for operating leases, in thousands, as of December 31, 2013 are as follows:

2014	$	823
2015	806
2016	673
2017	646
2018	—
Future minimum lease payments	$	2,948

Total rent expense for the years ended December 31, 2013, 2012 and 2011 was $994.6 thousand, $925.6 thousand, and $1.0 million, respectively.