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LEASES

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

December 31, 2020

range from less than

one

year to

5.4

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

three

-month period ended

March 31, 2020

and

2019

included (in thousands):

	Three months ended March 31, 2020		Three months ended March 31, 2019
Operating leases	$	171	$	204
Finance leases:
Asset amortization		61		61
Interest on lease liabilities		9		12
Variable lease cost		13		20
Short-term lease cost		14		8
Total net lease cost	$	268	$	305

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

	March 31, 2020		December 31 2019
Operating leases:
Operating ROU assets	$	1,460	$	1,628

Current operating lease liabilities		476		524
Noncurrent operating lease liabilities		1,014		1,139
Total operating lease liabilities	$	1,490	$	1,663


Finance leases:
Furniture and equipment	$	802		$	802
Computer Equipment		511			511
Computer Software		207			207
Property and equipment under finance lease, gross		1,520			1,520
Less accumulated amortization		(795	)		(734	)
Property and equipment under finance lease, net	$	725		$	786

Current obligations of finance leases	$	224		$	227
Noncurrent obligations of finance leases		502			559
Total finance lease liabilities	$	726		$	786

Weighted average remaining lease term (in years):
Operating leases		4.11
Finance leases		3.34

Weighted average discount rate:
Operating leases		4.79	%
Finance leases		4.54	%

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

	Three months ended March 31, 2020		Three months ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	177	$	196
Operating cash flows from finance leases		9		11
Financing cash flows from finance leases		58		57

ROU assets obtained in exchange for operating lease liabilities		--		--
ROU assets obtained in exchange for finance lease liabilities		--		25

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

March 31, 2020

are as follows (in thousands):

	Finance Leases			Operating Leases
Remainder 2020	$	188		$	410
2021		251			449
2022		204			222
2023		123			242
2024		13			203
Thereafter		--			117
Total minimum lease payments		779			1,643
Less: Amount representing interest		(53	)		(153	)
Present value of minimum lease payments		726			1,490
Less: Current maturities		(224	)		(476	)
Lease obligations, net of current portion	$	502		$	1,014

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

December 31, 2019

were 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
Less: Current maturities		(227	)		(524	)
Lease obligations, net of current portion	$	559		$	1,139