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Note 7 - Leases

12 Months Ended

Dec. 31, 2020

Lessee, Finance Leases and Operating Leases [Text Block]

Our leases generally have remaining lease terms of one year to eleven years, some of which include options to extend the leases for up to ten years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet. Short-term lease costs were insignificant as of December 31, 2020 and 2019.

	Classification	2020		2019
Finance lease right-of-use assets	Property, plant and equipment, net	$	72	$	41
Finance lease liabilities	Current portion of long-term debt		7		5
Finance lease liabilities	Long-term debt		53		24

Components of lease expense —

	2020		2019
Operating lease cost	$	52	$	50
Finance lease cost:
Amortization of right-of-use assets	$	5	$	3
Interest on lease liabilities		2		1
Total finance lease cost	$	7	$	4

Supplemental cash flow information related to leases —

	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	52	$	50
Operating cash flows from finance leases		2		1
Financing cash flows from finance leases		4		3
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	57	$	24
Finance leases		32		13

Supplemental balance sheet information related to leases —

	2020			2019
Weighted-average remaining lease term (years):
Operating leases		6			6
Finance leases		14			9
Weighted-average discount rate:
Operating leases		4.3	%		5.5	%
Finance leases		4.4	%		3.2	%

Maturities —

	Operating Leases		Finance Leases
2021	$	50	$	9
2022		41		9
2023		29		8
2024		24		6
2025		21		5
Thereafter		61		49
Total lease payments		226		86
Less: interest		30		26
Present value of lease liabilities	$	196	$	60

Operating lease payments presented in the table above exclude approximately $18 of minimum lease payments for real estate leases signed but not yet commenced. These leases are expected to commence in 2021.