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Leases
3 Months Ended
Mar. 31, 2019
Leases  
Leases

Note 11 — Leases

 

The Company leases certain buildings, land and equipment that are classified as operating leases. Our leases have remaining lease terms of up to approximately 3 years.  In the first quarter of 2019, our operating lease cost and cash paid for operating lease liabilities totaled $167 which is classified in cash flows from operating activities.  As of March 31, 2019, operating lease right-of-use assets and operating lease liabilities were $1,370 and $1,370, respectively. The weighted-average remaining lease term related to our operating leases was 2.1 years as of March 31, 2019. The weighted-average discount rate related to our operating leases was % as of March 31, 2019. Maturities of our operating lease liabilities at March 31, 2019 are as follows: $511 in 2019, $534 in 2020, $274 in 2021, and $51 in 2022.

 

The Company, as lessor, rents certain commercial real estate to third party lessees. The cost and accumulated depreciation related to these leased properties were $36,371 and $9,709, respectively, as of March 31, 2019. Terms of such leases, including renewal options, may be extended for up to sixty years, many of which provide for periodic adjustment of rent payments based on changes in consumer or other price indices. The Company recognizes lease income on a straight-line basis over the lease term. Lease income in first quarter 2019 was $749 and is classified in cash flows from operating activities.