Operating Leases

12 Months Ended

Dec. 31, 2018

OPERATING LEASES [Abstract]

OPERATING LEASES

NOTE 10 – OPERATING LEASES

We lease a 61,208 square foot mixed office and warehouse facility in Golden Valley, Minnesota. The lease has a term of 91 months and expires on July 31, 2026. The lease contains a rent escalation clause, one three year renewal option and incentives, including a leasehold improvements allowance. Rental expense, including the effects of lease incentives, is recognized on a straight-line basis over the term of the lease. We are also required to pay insurance, property taxes and other operating expenses related to the leased facility.

We lease a 19,805 square foot mixed office and warehouse facility in Singapore. The lease expires in July 2020, contains a rent escalation clause and one three year renewal option.

As of December 31, 2018, we also have operating leases in the United Kingdom and China, which expire in May 2023 and November 2020, respectively.

Rent expense was $1.3 million in 2018 and $1.3 million in 2017.  At December 31, 2018, the future minimum lease payments required under non-cancelable operating lease agreements are as follows:

Year ending December 31,	(In thousands)
2019	$	1,095
2020	1,298
2021	1,049
2022	1,064
2023	1,080
2024 & Thereafter	3,049
Total	$	8,635