abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) ( 7 ) commitments and contingencies the company applies the disclosure provisions of fin no . 45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no . 5 , 57 and 107 and rescission of fasb interpretation no . 34 ( fin no . 45 ) to its agreements that contain guarantee or indemnification clauses . these disclosure provisions expand those required by sfas no . 5 accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote . the following is a description of arrangements in which the company is a guarantor . product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale . the ab5000 and bvs products are subject to rigorous regulation and quality standards . operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision . patent indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products . the indemnifications contained within sales contracts usually do not include limits on the claims . the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions . under the provisions of fin no . 45 , intellectual property indemnifications require disclosure only . as of march 31 , 2006 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 . the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values . the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company . in december 2005 we closed our office facility in the netherlands , recording a charge of approximately $ 58000 for the remaining lease term . total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 821000 , $ 824000 and $ 1262000 for the fiscal years ended march 31 , 2004 , 2005 and 2006 , respectively . future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2006 are approximately as follows ( in thousands ) : fiscal year ending march 31 , operating leases .

operating leases: 2007: 1703
2008: 1371
2009: 1035
2010: 710
total future minimum lease payments: 4819

from time-to-time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , is not expected to have a material adverse effect on the company 2019s financial position , cash flow and results . on may 15 , 2006 richard a . nazarian , as selling stockholder representative , filed a demand for arbitration ( subsequently amended ) with the boston office of the american arbitration association .

Questions:
what were operating leases in 2007?
what were they in 2008?
what is the net change from 2007 to 2008?
what was the 2007 value?
what is the percent decrease?

Answers:
1703
1371
432
1703
25%