Note 4 - Leases

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

NOTE 4: LEASES

The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2021 and 2034. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early.

The following is a summary of weighted average remaining lease terms and discount rate for all of the Company’s operating leases:

	December 31, 2020
Weighted average remaining lease term (years)		4.67
Weighted average discount rate		1.92	%

Total operating lease cost and cash payments for operating leases were as follows:

	Year ended December 31,
	2019		2020
Operating lease cost	$	2,238	$	2,587
Cash payments for operating leases	$	2,173	$	2,975

Maturities of lease liabilities are as follows:

2021		2,996
2022		2,688
2023		1,198
2024		467
2025 and thereafter		1,806
Total undiscounted cash flows		9,155
Less imputed interest		414
Present value of lease liabilities	$	8,741