Note 8 - Leases

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

(8)  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 six months ended June 30, 2023 and 2022 were as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating lease cost	$	403	$	317	$	803	$	643
Short-term lease cost	$	4	$	14	$	7	$	44

The following is additional information about our leases as of June 30, 2023:

Range of remaining lease terms (in years)	0.1	to	7.8
Weighted average remaining lease term (in years)		4.7
Weighted average discount rate		4.5%

Maturities of lease liabilities as of June 30, 2023 were as follows:

2023 (remainder)	$	974
2024		1,910
2025		1,010
2026		710
2027		706
Thereafter		945
Total lease payments	$	6,255
Less imputed interest		(565	)
Total	$	5,690

Cash Flow Information

Total amortization of ROU assets was $391 and $782 for the three months and six months ended June 30, 2023, respectively, and $329 and $638 for the three months and six months ended June 30, 2022, respectively.

During the six months ended June 30, 2023, we entered into a 25-month lease for a facility for our Environmental Technologies segment’s operation in Germany. At the effective date of this lease, we recorded a non-cash increase in our ROU assets and operating lease liabilities of approximately $90. During this same period, we entered into two auto leases, one with a 36-month term and one with a 48-month term, for employees of our Process Technologies segment both of whom are based in Europe. At the effective date of these leases, we recorded non-cash increases in our ROU assets and operating lease liabilities totaling approximately $71.