Note 11 - Leases

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

11. LEASES

The operating ROU assets and operating lease liabilities as of December 31, 2023 and December 31, 2022 were as follows:

	December 31,		December 31,
($ in thousands)	2023		2022		Financial Statement Line Item
Assets:
Operating ROU Assets	$	7,809	$	11,014	Leased assets
Liabilities:
Current
Operating	$	2,628	$	3,071	Other accrued expenses
Noncurrent
Operating		5,461		8,216	Long-term lease
Total leased liabilities	$	8,089	$	11,287

Maturities of our operating lease liabilities are as follows:

	Operating
($ in thousands)	Leases
2024	$	2,810
2025		2,727
2026		2,359
2027		503
2028		67
Total lease payments		8,466
Less: Interest		(377	)
Present value of lease liabilities	$	8,089

For the twelve months ended December 31, 2023 and December 31, 2022, the weighted average remaining lease term and discount rate were as follows:

	December 31,			December 31,
	2023			2022
Weighted-average remaining lease term (years)
Operating leases		2.1			2.8
Weighted-average discount rate
Operating leases		2.6	%		1.4	%

For the twelve months ended December 31, 2023,   December 31, 2022 and December 31, 2021 the supplemental cash flow information was as follows:

	December 31,		December 31,		December 31,
($ in thousands)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	2,853	$	1,492	$	1,230
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	628	$	2,786	$	13,186

The breakdown of rent expense for our operating leases for the twelve months ended December 31, 2023 and December 31, 2022 were as follows:

	Twelve Months Ended
	December 31,		December 31,		December 31,
($ in thousands)	2023		2022		2021		Financial Statement Line Item
Operating lease expenses - Manufacturing & Sourcing (1)	$	2,826	$	784	$	813	Cost of goods sold
Operating lease expenses (1)		1,617		4,595		1,417	Operating expenses
Total lease expenses	$	4,443	$	5,379	$	2,230

⁽¹⁾ Includes short-term lease expenses of approximately $0.5 million, $2.2 million and $1.3 million for the twelve months ended December 31, 2023,  December 31, 2022 and December 31, 2021, respectively.