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Note 8 - Operating Leases
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

Note 8 Operating Leases

 

The Company has operating leases predominantly for operating facilities.  As of December 31, 2021, the remaining lease terms on our operating leases range from approximately one (1) year to ten (10) years.  Lease terms include renewal options reasonably certain of exercise.  There is no transfer of title or option to purchase the leased assets upon expiration.  There are no residual value guarantees or material restrictive covenants.   

 

The components of lease expense for the current and prior-year comparative periods were as follows:

 

  

Year ended December 31,

 
  

2021

  

2020

 

Operating lease cost

 $762  $703 

Variable lease cost

  79   75 

Total lease cost

 $841  $778 

 

Supplemental cash flow information related to leases was as follows:

 

  

Year ended December 31,

 
  

2021

  

2020

 

Cash paid for amounts included in the measurement of lease liabilities:

        

Operating cash flows from operating leases

 $744  $688 

Right-of-use assets obtained in exchange for lease liabilities:

 $1,020  $875 

 

Supplemental balance sheet information related to leases was as follows:

 

   

December 31,

 
 

Balance Sheet Classification

 

2021

  

2020

 

Assets:

         

Operating lease right-of-use asset

Other noncurrent assets

 $2,581  $2,189 
          

Liabilities:

         

Current operating lease liability

Accrued expenses and other current liabilities

 $867  $680 

Operating lease liability, net of current portion

Other noncurrent liabilities

  1,743   1,524 

Total operating lease liability

 $2,610  $2,204 
          

Weighted-average remaining lease term (years)

  4.5   3.3 
          

Weighted-average discount rate

  4.5%  4.5%

 

Future minimum lease payments as of December 31, 2021 are as follows:

 

Maturity of Operating Lease Liabilities

    

2022

 $889 

2023

  894 

2024

  434 

2025

  139 

2026

  140 

Thereafter

  424 

Total lease payments

 $2,920 

Less: Imputed interest

  (310)

Present value of remaining lease payments

 $2,610