Note 12 - Leases

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

(12)    LEASES 

We have operating leases for office space and processing facilities with remaining lease terms ranging from less than one year to approximately five years. As most of the leases do not provide an implicit rate, we calculated the right-of-use assets and lease liabilities using our secured incremental borrowing rate at the lease commencement date. We currently do not have any finance leases outstanding.

Information related to leases was as follows as of December 31 (in thousands): 

	2020
Operating lease information:
Operating cash outflows from operating leases	$	235
Weighted average remaining lease term in years		3.18
Weighted average discount rate		6.0	%

Future minimum lease payments under non-cancellable leases as of December 31, 2020 were as follows (in thousands):

Year	Amount
2021	$	203
2022		206
2023		173
2024		60
Total minimum lease payments	$	642
Less imputed interest		(40	)
Total operating lease liability	$	602
As reflected on balance sheet:
Other long-term liabilities	$	602

At December 31, 2020, we had approximately $602,000 right-of-use operating lease assets recorded within “buildings and equipment” on the Consolidated Balance Sheet.