INTEST CORP Commitments Disclosure

 

We lease our offices, warehouse facilities and certain equipment under non-cancellable operating leases which expire at various dates through Total rental expense for the years ended and was and respectively. Certain of our operating leases contain predetermined fixed escalations of minimum rentals and rent holidays during the original lease terms. Rent holidays are periods during which we have control of the leased facility but are obligated to pay rent. For these leases, we recognize the related rental expense on a straight-line basis over the life of the lease, which includes any rent holiday, and record the difference between the amounts charged to operations and amounts paid as Other Current Liabilities on our balance sheet. In addition to the monthly rental payments due, most of our leases for our offices and warehouse facilities require us to pay our portion of the common area maintenance, property taxes and insurance charges incurred by the landlord for the facilities which we occupy. These amounts are included in the minimum rental commitments disclosed below as they are based on actual charges incurred in the periods to which they apply.

The aggregate minimum rental commitments under the non-cancellable operating leases in effect at are as follows:

 

2019		$	1,710
2020			1,612
2021			868
2022			296
2023			286
Thereafter			1,421
Total		$	6.193