Note 18. Commitments and contingencies
Capital leases included in property, plant and equipment are as follows:
|Machinery and equipment||2,737||2,729|
|Furniture and fixtures||269||269|
|Total capital leases||3,006||2,998|
|Less accumulated depreciation||(3,006)||(2,998)|
|Total capital leases, net||–||–|
At December 31, 2014 operating leases having initial or remaining non-cancelable terms in excess of one year are as follows:
Aggregate rental expense for operating leases was €5,964 in 2014 (2013: €5,641). Per December 31, 2014 the Company had entered into purchase commitments with suppliers in the amount of €69,720 for purchases within the next 12 months. Commitments for capital expenditures and other commitments per December 31, 2014 were €3,198.
Change of Control Transaction
Pursuant to our 1997 settlement agreement with Applied Materials, as amended and restated in 1998, if we desire to effect a change of control transaction, as defined in the settlement agreement which generally involves our operations and not our investment in ASMPT, with a competitor of Applied Materials, we must first offer the change of control transaction to Applied Materials on the same terms as we would be willing to accept from that competitor pursuant to a bona fide arm’s-length offer made by that competitor.