Note 5 - Leases

9 Months Ended

Sep. 30, 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

September 30, 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	September 30, 2020
Assets
Operating lease assets	Operating lease assets	$	8,924
Finance lease assets	Property, Plant and Equipment		2,493
Total leased assets		$	11,417
Liabilities
Current
Current operating lease liabilities	Current Portion of Operating Lease Obligations	$	614
Current finance lease liabilities	Current Portion of Finance Lease Obligations		652
Noncurrent
Long-term operating lease liabilities	Long Term Operating Lease Liabilities, Net		8,832
Long term finance lease liabilities	Long Term Finance Lease Obligations, Net		1,320
Total lease liabilities		$	11,418

Supplemental cash flow information related to leases was as follows:

	Nine Months Ended September 30,
	2020
Operating leases
Cash paid for amounts included in the measurement of lease liabilities	$	686
Right-of-use assets obtained in exchange for lease obligations	$	4,685

Maturities of lease liabilities were as follows:

	Operating Leases			Finance Leases			Total
Remaining 2020	$	351		$	207		$	558
2021		1,264			738			2,002
2022		1,279			575			1,854
2023		1,302			333			1,635
2024		1,374			277			1,651
Thereafter		9,489			20			9,509
Total lease payments	$	15,059		$	2,150		$	17,209
Less: Interest		(5,613	)		(178	)		(5,791	)
Present value of lease liabilities	$	9,446		$	1,972		$	11,418

The lease term and discount rate at

September 30, 2020

were as follows:

Weighted-average remaining lease term (years)
Operating leases	11.1
Finance leases	3.3
Weighted-average discount rate
Operating leases	7.4	%
Finance leases	5.2	%