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LEASES AND RELATED PARTY LEASES | 12 Months Ended
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Dec. 31, 2014
Leases [Abstract] |
LEASES AND RELATED PARTY LEASES | LEASES AND RELATED PARTY LEASES The Company leases administrative, manufacturing, research and distribution facilities and various manufacturing, office and transportation equipment through operating lease agreements. Future minimum lease payments under operating leases at December 31, 2014 were as follows:
| Related Parties |  | Third Parties |  | Total
| (In thousands)
2015 | $ | 272 |  |  | $ | 11,234 |  |  | $ | 11,506 |
2016 | 272 |  |  | 9,522 |  |  | 9,794 |
2017 | 272 |  |  | 6,757 |  |  | 7,029 |
2018 | 296 |  |  | 5,025 |  |  | 5,321 |
2019 | 296 |  |  | 3,084 |  |  | 3,380 |
Thereafter | 4,014 |  |  | 24,917 |  |  | 28,931 |
Total minimum lease payments | $ | 5,422 |  |  | $ | 60,539 |  |  | $ | 65,961 |
Total rental expense for the years ended December 31, 2014, 2013 and 2012 and was $10.2 million, $10.4 million and $10.9 million, respectively, and included $0.3 million, in related party rental expense in each of the three years. Future minimum lease payments under capital leases at December 31, 2014 were as follows:
|  | Payments under capital leases (In thousands)
2015 |  | $ | 826 |
2016 |  | 672 |
Total minimum lease payments |  | 1,498 |
Amount representing interest |  | 70 |
Present value of minimum lease payments |  | $ | 1,428 |
Related Party Leases The Company leases certain production equipment from a corporation whose sole stockholder is a general partnership, of which the Company’s former Chairman (and current director) is a partner and the President. The term of the lease is through March 31, 2022, and the Company has an option to renew through March 31, 2032. Under the terms of the lease agreement, the Company pays $0.1 million per year to the related party lessor. The Company also leases its manufacturing facility in Plainsboro, New Jersey, from a general partnership that is 50% owned by a corporation whose shareholders are trusts, whose beneficiaries include family members of the Company’s former Chairman (and current director). The term of the current lease agreement is through October 31, 2032 at an annual rate of approximately $0.3 million per year. The current lease agreement also provides (i) a 5-year renewal option for the Company to extend the lease from November 1, 2032 through October 31, 2037 at the fair market rental rate of the premises, and (ii) another 5-year renewal option to extend the lease from November 1, 2037 through October 31, 2042 at the fair market rental rate of the premises.

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- Definition The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61901-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37051-112695 + Details
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