LEASES

6 Months Ended

Jun. 30, 2019

Leases of Lessee Disclosure [Text Block]

LEASES:

The Company’s leases consist of operating leases for administrative office spaces, research-and-development facilities, design centers and sales offices in various countries around the world. The Company determines if an arrangement is a lease at inception. Some lease agreements contain lease and non-lease components, which are accounted for as a single lease component. Total lease expense was $0.6 million and $1.2 million in the three and six months ended June 30, 2019, respectively, while short-term and variable lease expenses were not material.

Balance sheet information related to leases was as follows:



(In thousands)	Balance Sheet Classification	June 30, 2019
Right-of-use assets
Operating lease assets	Other assets	$	9,957
Lease liabilities
Current operating lease liabilities	Other accrued liabilities	$	1,574
Non-current operating lease liabilities	Other liabilities	7,497
Total		$	9,071

Initial lease terms are determined at commencement and may include options to extend or terminate the lease when it is reasonably certain the Company will exercise the option. Remaining lease terms range from one to nine years, some of which include options to extend for up to six years, and some of which include options to terminate within one year. Leases with an initial term of twelve months or less are not recorded on the balance sheet. As the Company’s leases do not provide an implicit rate, the present value of future lease payments is determined using the Company’s incremental borrowing rate based on information available at commencement date.



Lease term and discount rate	June 30, 2019
Weighted average remaining lease term	4.9 years
Weighted average discount rate	4.0	%

Supplemental cash flows information related to leases was as follow:



	Six Months Ended
(In thousands)	June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,004

Right-of-use assets obtained in exchange for new operating lease obligations	$	3,774

Future minimum lease payments under all non-cancelable lease agreements as of June 30, 2019, are as follows:



(In thousands)	June 30, 2019
2019 (remaining six months)	$	797
2020	2,285
2021	2,240
2022	1,848
2023	1,611
Thereafter	1,359
Total future minimum lease payments	10,140
Less imputed interest	(1,069		)
Total	$	9,071