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Long term obligations | 3 Months Ended
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Mar. 31, 2016
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] |
7. | Long term obligations
Total long-term obligations as of March 31, 2016 and December 31, 2015 consist of the following (in thousands):
|  | March 31, |  | December 31, |
|  | 2016 |  | 2015 |
Vendor obligations |  |  |  |  |  |  |
Capital lease obligations (1) |  | $ | 385 |  | $ | 423 |
Deferred lease payments (2) |  |  | 704 |  |  | 707 |
Microsoft licenses (3) |  |  | 250 |  |  | 360 |
Acquisition related liability (4) |  |  | 1,062 |  |  | 993 |
Pension obligations |  |  |  |  |  |  |
Accrued pension liability |  |  | 2,640 |  |  | 2,535 |
|  |  | 5,041 |  |  | 5,018 |
Less: Current portion of long term obligations |  |  | 1,453 |  |  | 1,582 |
Totals |  | $ | 3,588 |  | $ | 3,436 |
(1) In March 2014, the Company entered into an equipment sale leaseback agreement with a financing company. The cash proceeds from the transaction were $0.9 million. The Company leased the equipment for a period of 36 months at an effective interest rate of approximately 6% and has the option to purchase the equipment for a nominal amount at the end of the lease term. The Company has accounted for this transaction as a financing arrangement, wherein the equipment remains on the Company’s books and will continue to be depreciated. As of March 31, 2016, the Company had made $0.7 million in lease payments under the sale leaseback agreement. (2) Deferred lease payments represent the effect of straight-lining operating lease payments over the respective lease terms. (3) In March 2014, the Company renewed a vendor agreement to acquire certain additional software licenses and to receive support and subsequent software upgrades on these and other currently owned software licenses through February 2017. Pursuant to this agreement, the Company is obligated to pay approximately $0.4 million annually over the term of the agreement. The total cost, net of deferred interest (in thousands), was allocated to the following asset accounts in 2014:
Prepaid expenses and other current assets |  | $ | 356 |
Other assets |  |  | 713 |
Property and equipment |  |  | 136 |
|  | $ | 1,205 |
(4) Amount represents a portion of the purchase price consideration for the acquisition of MediaMiser as follows: $0.6 million to be paid by the Company on July 28, 2016 in shares of Innodata Inc.’s common stock, or at the Company’s option, in cash. In addition, the Company agreed to pay up to a maximum of $4.6 million of contingent consideration based on MediaMiser’s achieving certain revenue and EBITDA levels during the period from April 1, 2016 to March 31, 2017. The fair value of the contingent consideration as of March 31, 2016 was $0.5 million.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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