Note 13. Commitments and Contingencies

Leases

The Company leases office space in Huntersville, NC, Carrollton, Texas and Taiwan and leases equipment in Canandaigua, NY. Its leases have remaining lease terms of up to five years, some of which include options to extend the leases for up to twenty-four months. Following adoption of ASC 842, lease expense excludes capital area maintenance and property taxes. During the three months ended December 31, 2022, the lease pertaining to the office space in Carrollton, Texas was extended for an additional five years. This resulted in the remeasurement of the respective right of use asset and corresponding right of use liability.

The components of lease expense were as follows:

Supplemental balance sheet information related to leases was as follows (in thousands):

The following table outlines the minimum future lease payments for the next five years and thereafter, (in thousands):