(

)

Leases

We lease printing, computer, other equipment and office space in the United States and Canada. The leases remaining terms as of

December 31, 2019

range from less than

one

year to

5.7

years.

Certain equipment and office lease agreements include provisions for periodic adjustments to rates and charges. The rates and charges are adjusted based on actual usage or actual costs for internet, common area maintenance, taxes or insurance, as determined by the lessor and are considered variable lease costs.

The components of lease expense for the year ended

December 31, 2019

included (in thousands):

	2019
Operating leases	$	781
Finance leases:
Asset amortization		252
Interest on lease liabilities		39
Variable lease cost		86
Short-term lease cost		42
Total net lease cost	$	1,200

We recorded rent expense in connection with our operating leases of

$779,000

and

$869,000

2018

and

2017,

respectively.

Supplemental balance sheet information related to leases (in thousands):

	December 31, 2019		January 1, 2019
Operating leases:
Operating ROU assets	$	1,628	$	2,287	(1)

Current operating lease liabilities		524		692	(1)
Noncurrent operating lease liabilities		1,139		1,639	(1)
Total operating lease liabilities	$	1,663	$	2,331	(1)

(

) Represents the

December 31, 2018

balance recorded at implementation of Topic

842

	December 31, 2019			December 31, 2018
Finance leases:
Furniture and equipment	$	802		$	1,062
Computer Equipment		511			487
Computer Software		207			224
Property and equipment under finance lease, gross		1,520			1,773
Less accumulated amortization		(734	)		(839	)
Property and equipment under finance lease, net	$	786		$	934

Current obligations of finance leases	$	227		$	204
Noncurrent obligations of finance leases		559			676
Total finance lease liabilities	$	786		$	880

Weighted average remaining lease term (in years):
Operating leases	4.17
Finance leases	3.56

Weighted average discount rate:
Operating leases	4.81	%
Finance leases	4.60	%

Supplemental cash flow and other information related to leases was as follows (in thousands):

	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	789
Operating cash flows from finance leases		38
Financing cash flows from finance leases		229

ROU assets obtained in exchange for operating lease liabilities		16
ROU assets obtained in exchange for finance lease liabilities		192

Undiscounted payments under non-cancelable finance and operating leases at

December 31, 2019

are as follows (in thousands):

	Finance Leases			Operating Leases
2020	$	257		$	591
2021		251			453
2022		204			226
2023		123			246
2024		13			203
Thereafter		--			118
Total minimum lease payments		848			1,837
Less: Amount representing interest		(62	)		(174	)
Present value of minimum lease payments		786			1,663
Current portion		(227	)		(524	)
Lease obligations, net of current portion	$	559		$	1,139

Undiscounted payments under non-cancelable operating leases and finance leases at

December 31, 2018

were as follows (in thousands):

Year Ending December 31,	Finance Leases			Operating Leases
2019	$	258		$	882
2020		241			672
2021		214			564
2022		168			273
2023		85			262
Total minimum lease payments		966
Less: Amount representing interest		(86	)
Present value of minimum lease payments		880
Less: Current maturities		(204	)
Capital lease obligations, net of current portion	$	676