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Leases
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Leases

Note 8 — Leases

The Company entered into operating leases for office space for its headquarter, domestic and foreign subsidiaries and sales offices. Finance leases are primarily engineering design software. Operating leases generally have lease terms of 1 year to 5 years. Finance leases are generally 2 years to 3 years. During the second quarter of 2019, the Company recognized right-of-use assets of approximately $1.7 million and lease liability of approximately $1.7 million relating to the new operating leases signed for the premises of its headquarters in San Jose and its subsidiary SensiML in Oregon.

The following table provides the details of operating and finance lease costs (in thousands):

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2019

 

 

June 30, 2019

 

Operating lease costs:

 

 

 

 

 

 

 

Fixed

$

259

 

 

$

411

 

Variable

 

-

 

 

 

-

 

Short term

 

9

 

 

 

27

 

Total

 

268

 

 

 

438

 

Finance lease costs:

 

 

 

 

 

 

 

Amortization of ROU asset

 

91

 

 

 

182

 

Interest

 

5

 

 

 

11

 

Total

$

96

 

 

$

193

 

The following table provides the details of supplemental cash flow information (in thousands):

 

 

Six Months Ended

 

 

 

June 30, 2019

 

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

 

 

 

 

Operating cash flows used for operating leases

 

$

451

 

Operating cash flows used for finance leases

 

 

10

 

Financing cash flows used for financing leases

 

 

194

 

  Total

 

$

655

 

Right-of-use assets obtained in exchange for obligations:

 

 

 

 

Operating leases

 

$

2,076

 

Finance leases

 

 

341

 

  Total

 

$

2,417

 

The following table provides the details of right-of-use assets and lease liabilities as of June 30, 2019 (in thousands):

 

 

June 30, 2019

 

Right-of-use assets:

 

 

 

 

Operating leases

 

$

2,076

 

Finance leases

 

 

341

 

   Total

 

$

2,417

 

Lease liabilities:

 

 

 

 

Operating leases

 

 

2,100

 

Finance leases

 

 

230

 

  Total

 

$

2,330

 

 

The following table provided the details of future lease payments for operating and finance leases as of June 30, 2019 (in thousands):

.

Annual Fiscal Years

 

Operating

 

 

Finance

 

2019 (Remaining period)

 

$

339

 

 

$

183

 

2020

 

 

613

 

 

 

64

 

2021

 

 

494

 

 

 

-

 

2022

 

 

409

 

 

 

-

 

2023

 

 

421

 

 

 

-

 

Thereafter

 

 

106

 

 

 

-

 

  Total lease payments

 

 

2,382

 

 

 

247

 

Less: Interest

 

 

(282

)

 

 

(17

)

Present value of lease liabilities

 

$

2,100

 

 

$

230

 

 

The following table provides the details of lease terms and discount rates as of June 30, 2019:

 

 

June 30, 2019

 

Right-of-use assets:

 

 

 

 

Weighted-average remaining lease term (years)

 

 

 

 

Operating leases

 

4.17

 

Finance leases

 

 

0.76

 

Weighted-average discount rates:

 

 

 

 

Operating leases

 

 

5.99

%

Finance leases

 

 

7.00

%