COMMITMENTS AND CONTINGENCIES Operating Lease Commitments The Company leases certain facilities and equipment under non-cancelable operating lease agreements that expire at various dates through fiscal 2020 . Some leases include renewal options, which would permit extensions of the expiration dates at rates approximating fair market rental values at the time of the extension. As a part of the Merger, the Company has assumed the leases that were entered into by Spansion. This includes Spansion's lease for office space in San Jose, California for a new headquarters entered into on May 22, 2014, which is no longer required. The lease is for a period of 12 years , with two options to extend for periods of five years each after the initial lease term. The initial term of the lease commenced on January 1, 2015 and expire on December 31, 2026. During the three months ended March 29, 2015, the Company accrued $18.0 million for the remaining lease obligations, net of estimated sublease income, for this facility as it decided it would not occupy it and the facility would have no future economic benefit to the Company. The charges related to this accrual are included in Restructuring and Other in the Company  Condensed Consolidated Statement of Operations for the three months ended March 29, 2015. As of March 29, 2015 , future minimum lease payments under non-cancelable operating leases were as follows: Fiscal Year (In thousands) 2015 (remaining nine months) $ 11,372 2016 13,525 2017 9,652 2018 5,389 2019 3,625 2020 and thereafter 24,233 Total $ 67,796 Capital Leases In 2011, the Company entered into capital lease agreements which allow it to borrow up to $35.0 million to finance the acquisition of certain manufacturing equipment. As of March 29, 2015 , the gross value and net book value of manufacturing equipment purchased under these capital leases were approximately $20.5 million and $13.4 million , respectively. As of March 29, 2015 , the total minimum lease payments under these capital leases amounted to approximately