ACCOUNTING FOR LEASES (Tables)

12 Months Ended

Dec. 31, 2020

ACCOUNTING FOR LEASES

Schedule of information related to the lease costs

The table below presents information related to the lease costs for operating leases during 2020 and 2019 (in thousands):

	Year ended		Year ended
	December 31, 2020		December 31, 2019
Short-term lease costs	$	451	$	339
Long-term lease costs		1,444		1,485
Total lease costs	$	1,895	$	1,824

Schedule of future minimum lease payments

Following is the undiscounted cash flow for the next five years and total of the remaining years to the operating lease liabilities recorded on the balance sheet (in thousands):

	Operating
	Leases
Year ending December 31,
2021	$	1,432
2022		1,078
2023		1,072
2024		1,072
2025		1,072
Thereafter		16,940
Total minimum lease payments		22,666
Less: amount of lease payment representing interest		(7,869)
Present value of future minimum payments		14,797
Less: current obligations under leases		(813)
Long-term lease obligations	$	13,984