In terms of liabilities, it has operating leases of $4,677 thousand expiring after 2018. In 2013, it recorded $845 thousand of its operating lease as rent expense. In 2014, it is expected to spend 1,083 thousand dollars. This amount is relevant for Hydrogenics Corporation considering its low cash inflow from operations. As for contingencies, Hydrogenics Corporation has not yet recorded any transactions. It has “entered into indemnification agreements with its current and former directors and officers to indemnify them, to the extent permitted by law, against any and all charges, costs, expenses, amounts paid in compensation and damages” (Hydrogenics). Hydrogenics Corporation also spent $7,614 thousand in 2013 as part of its guarantees. It offers customers warranties for its products and services. The note to the 2013 financial statements states that “standby letters of credit and letters of guarantee may be used by customers if the Company does not fulfill its obligations under sales contracts” (Hydrogenics). Profitability