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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2014
Commitments and Contingencies  
Commitments and Contingencies

Note 11: Commitments and Contingencies

Leases and Purchase Commitments

        The Company leases its facilities under non-cancelable operating leases that expire at various dates through 2020. Rent expense was approximately $802,000, $822,000 and $895,000 for the years ended December 31, 2014, 2013 and 2012, respectively. The leases provide for monthly payments and are being charged to operations ratably over the lease terms. In addition to the minimum lease payments, the Company is responsible for property taxes, insurance and certain other operating costs.

        Future minimum lease payments under non-cancelable operating leases and purchase commitments are (in thousands):

                                                                                                                                                                                    

Year ended December 31,

 

Operating
leases

 

Purchase
commitments

 

Total

 

2015

 

$
775 

 

$
3,453 

 

$
4,228 

 

2016

 

 
780 

 

 
392 

 

 
1,172 

 

2017

 

 
755 

 

 

—

 

 
755 

 

2018

 

 
734 

 

 

—

 

 
734 

 

2019

 

 
756 

 

 

—

 

 
756 

 

Thereafter

 

 
514 

 

 

—

 

 
514 

 

​

​

​  

​  

​

​  

​  

​

​  

​  

​

Total minimum payments

 

$
4,314 

 

$
3,845 

 

$
8,159 

 

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        Purchase commitments include software licenses related to computer-aided design software payable through March 2016, wafer and board components purchase obligations.

Indemnification

        In the ordinary course of business, the Company enters into contractual arrangements under which it may agree to indemnify the counterparties from any losses incurred relating to breach of representations and warranties, failure to perform certain covenants, or claims and losses arising from certain events as outlined within the particular contract, which may include, for example, losses arising from litigation or claims relating to past performance. Such indemnification clauses may not be subject to maximum loss clauses. The Company has entered into indemnification agreements with its officers and directors. No material amounts were reflected in the Company's consolidated financial statements for the years ended December 31, 2014, 2013 or 2012 related to these indemnifications.

        The Company has not estimated the maximum potential amount of indemnification liability under these agreements due to the limited history of prior claims and the unique facts and circumstances applicable to each particular agreement. To date, the Company has not made any payments related to these indemnification agreements.

Legal Matters

        The Company is not a party to any material legal proceeding that the Company believes is likely to have a material adverse effect on its consolidated financial position or results of operations. From time to time the Company may be subject to legal proceedings and claims in the ordinary course of business. These claims, even if not meritorious, could result in the expenditure of significant financial resources and diversion of management efforts.