Note 5 - Leases

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Lease Disclosure [Text Block]

NOTE

5.

LEASES

We have operating leases for certain manufacturing sites, office space, and equipment. Most leases include the option to renew, with renewal terms that can extend the lease term from

one

to

five

years or more. Right-of-use lease assets and lease liabilities are recognized at the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods we are reasonably certain to exercise. Our leases do

not

contain any material residual value guarantees or material restrictive covenants. At

March 31, 2020,

we do

not

have material lease commitments that have

not

commenced.

Supplemental balance sheet information related to leases was as follows:

	Balance Sheet Location	March 31, 2020
Assets
Operating lease assets	Operating lease assets	$	4,637
Finance lease assets	Property, Plant and Equipment		2,709
Total leased assets			7,346
Liabilities
Current
Current operating lease liabilities	Current Portion of Operating Lease Obligations		825
Current finance lease liabilities	Current Portion of Finance Lease Obligations		611
Noncurrent
Long-term operating lease liabilities	Long Term Operating Lease Liabilities, Net		4,252
Long term finance lease liabilities	Long Term Finance Lease Obligations, Net		1,537
Total lease liabilities		$	7,225

Supplemental cash flow information related to leases was as follows:

	T hree Months Ended March 3 1 ,
	2020
Operating leases
Cash paid for amounts included in the measurement of lease liabilities	$	210
Right-of-use assets obtained in exchange for lease obligations	$	0

Maturities of lease liabilities were as follows:

	Operating Leases			Finance Leases			Total
Remaining 2020	$	645		$	531		$	1,176
2021		722			708			1,430
2022		726			557			1,283
2023		738			302			1,040
2024		798			250			1,048
Thereafter		2,582			16			2,598
Total lease payments	$	6,211		$	2,364		$	8,575
Less: Interest		(1,134	)		(216	)		(1,350	)
Present value of lease liabilities	$	5,077		$	2,148		$	7,225

The lease term and discount rate at

March 31, 2020

were as follows:

Weighted-average remaining lease term (years)
Operating leases	7.7
Finance leases	3.7
Weighted-average discount rate
Operating leases	4.8	%
Finance leases	5.2	%