Note 11 - Leases

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

(11)  LEASES 

As previously discussed in Note 2, we account for our leases in accordance with the guidance in ASC Topic 842. We lease our offices, warehouse facilities and certain equipment under non-cancellable operating leases that expire at various dates through 2031. Total operating lease and short-term lease costs for the three and nine months ended September 30, 2022 and 2021, respectively, were as follows: 

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating lease cost	$	330	$	247	$	973	$	865
Short-term lease cost	$	7	$	20	$	51	$	60

The following is additional information about our leases as of September 30, 2022:

Range of remaining lease terms (in years)	0.5	to	8.6
Weighted average remaining lease term (in years)		5.2
Weighted average discount rate		4.1%

Maturities of lease liabilities as of September 30, 2022 were as follows:

2022 (remainder)	$	409
2023		1,624
2024		1,571
2025		744
2026		473
Thereafter		1,378
Total lease payments	$	6,199
Less imputed interest		(573	)
Total	$	5,626

Cash Flow Information

Total amortization of ROU assets was $334 and $972 for the three months and nine months ended September 30, 2022, respectively, and $231 and $760 for the three months and nine months ended September 30, 2021, respectively.

During the nine months ended September 30, 2022, we executed an amendment to the lease for our facility in Singapore which extended the term for a period of 24 months commencing on April 1, 2022 and expiring on March 31, 2024. At the effective date of this modification, we recorded a non-cash increase in our ROU assets and operating lease liabilities of approximately $51. During this same period, we also executed a 48-month lease for an automobile for our Videology operation in Europe. At the effective date of this lease, we recorded a non-cash increase in our ROU assets and operating lease liabilities of approximately $38.

During the nine months ended September 30, 2021, we executed a lease for approximately 3,888 square feet of office space for the engineering and sales staff located in Fremont, California. This lease has a 38.5-month term beginning in October 2021. At the effective date of this lease, we recorded an increase in our ROU assets and operating lease liabilities of approximately $202.