Note B - Operating Leases

6 Months Ended

Jun. 30, 2019

NOTE B— Operating Leases

The Company has entered into various non-cancelable operating lease agreements of its offices and car leases. The Company's leases have original lease periods expiring between

2019

and

2030.

Many leases include

one

or more options to renew. The Company does

not

assume renewals in the determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement date. The Company's lease agreements do

not

contain any material residual value guarantees or material restrictive covenants.

Total operating lease cost during the

three

and

six

months ended

June 30, 2019

was

$744

and

$1,486,

respectively, out of which an amount of

$507

and

$1,249

represented the total cash paid for amounts included in the measurement of operating lease liabilities during the

three

and

six

months ended

June 30, 2019,

respectively.

During the

six

months ended

June 30, 2019,

total new lease liability amounted to

$434.

Other information about lease amounts recognized in the Company’s consolidated financial statements is summarized as follows:

	June 30, 2019

Weighted-average remaining lease term – operating leases (in years)		8.32
Weighted-average discount rate – operating leases		4.98	%

As of

June 30, 2019,

the Company’s lease liabilities were as follows:

	Operating Leases

Gross lease liabilities	$	15,512

Less: imputed interest		(3,062	)

Present value of lease liabilities		12,450
Less: current portion of lease liabilities		(2,088	)
Total long-term lease liabilities	$	10,362