Note 5 - Leases

6 Months Ended

Jun. 30, 2021

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 June 30, 2021, we do not have material lease commitments that have not commenced.

The components of lease expense were as follows:

	Three Months Ended June 30,		Three Months Ended June 30,
Lease Cost	2021		2020
Operating lease cost	$	589	$	352
Finance lease interest cost		21		28
Finance lease amortization expense		163		159
Total lease cost	$	773	$	539

	Six Months Ended June 30,		Six Months ended June 30,
Lease Cost	2021		2020
Operating lease cost	$	1,120	$	708
Finance lease interest cost		43		50
Finance lease amortization expense		326		311
Total lease cost	$	1,489	$	1,069

Supplemental balance sheet information related to leases was as follows:

	Balance Sheet Location	June 30, 2021		December 31, 2020
Assets
Operating lease assets	Operating lease assets	$	9,336	$	8,998
Finance lease assets	Property, Plant and Equipment		2,004		2,330
Total leased assets		$	11,337	$	11,328
Liabilities
Current
Current operating lease liabilities	Current Portion of Operating Lease Obligations	$	1,013	$	688
Current finance lease liabilities	Current Portion of Finance Lease Obligations		641		660
Noncurrent
Long-term operating lease liabilities	Long Term Operating Lease Liabilities, Net		8,995		8,889
Long term finance lease liabilities	Long Term Finance Lease Obligations, Net		845		1,152
Total lease liabilities		$	11,494	$	11,389

Supplemental cash flow information related to leases was as follows:

	June 30,		June 30,
	2021		2020
Operating leases
Cash paid for amounts included in the measurement of lease liabilities	$	821	$	215
Right-of-use assets obtained in exchange for lease obligations	$	858	$	-

Maturities of lease liabilities were as follows:

	Operating Leases			Finance Leases			Total
Remaining 2021	$	864		$	369		$	1,233
2022		1,735			587			2,322
2023		1,738			333			2,071
2024		1,408			280			1,688
2025		1,205			29			1,234
Thereafter		8,283			-			8,283
Total lease payments	$	15,233		$	1,598		$	16,831
Less: Interest		(5,225	)		(112	)		(5,337	)
Present value of lease liabilities	$	10,008		$	1,486		$	11,494

The lease term and discount rate at June 30, 2021 were as follows:

Weighted-average remaining lease term (years)
Operating leases	9.7
Finance leases	2.8
Weighted-average discount rate
Operating leases	7.8	%
Finance leases	5.1	%