On December 31, 2017, operating leases having initial or remaining non-cancelable terms in excess of one year are as follows:
| 2016 | 2017 | |||
| Not later than 1 year | 6,365 | 6,892 | ||
| Between 1 and 5 years | 9,832 | 10,813 | ||
| Later than 5 years | 326 | 1,360 | ||
| Total | 16,523 | 19,065 |
Operating lease obligations include leases of equipment and facilities. Lease payments recognized as an expense were €7,179 for the year ended December 31, 2017 (2016: €6,913). Per December 31, 2017, the Company had entered into purchase commitments with suppliers in the amount of €107,793 for purchases within the next 12 months. Commitments for capital expenditures and other commitments per December 31, 2017 were €32,100 within the next 12 months.
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.
We keep shrinking
dimensions by developing
new solutions to advance
Moore’s law.
