Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies [Abstract]

13. Commitments and Contingencies

Leases

The Company is obligated under certain noncancelable operating leases for office facilities and equipment. Future minimum lease payments under noncancelable operating leases as of December 31, 2016 are as follows:

(in thousands)	Gross Future
	Minimum Lease
	Payments

2017	$	925
2018		809
2019		817
2020		651
2021		616
Thereafter		946
Total	$	4,764

Total rent expense under operating leases for the years ended December 31, 2016 and 2015, was approximately $0.8 million and $1.2 million, respectively.

Standby letters of credit, bank guarantees, surety bonds and performance bonds

As of December 31, 2016, the Company was contingently liable for four standby letters of credit and one surety bond totaling $1.0 million which represent advance payment and performance bonds on four contracts. The Company has deposited the full value of the standby letters of credit into money market escrow accounts which have been restricted in that the Company may not access these funds until the related letters of credit have expired. The cash has been recorded on the Company's consolidated balance sheets at December 31, 2016 as restricted cash and long-term restricted cash depending on the expiration date of the underlying letters of credit.

Contingencies

Various actions and proceedings are presently pending to which the Company is a party. In the opinion of management, the aggregate liabilities, if any, arising from such actions are not expected to have a material adverse effect on the financial position, results of operations or cash flows of the Company.