LEASES (Tables)

9 Months Ended

Sep. 30, 2019

The components of lease expense and cash flows from leases for the three and nine months ended September 30, 2019, follows (amounts in thousands).

	September 30, 2019
	Three Months Ended		Nine Months Ended
Finance lease cost:
Amortization of right-of use assets, included in cost of goods sold	$	19	$	50
Interest on lease liabilities		5		10
Operating lease cost, included in selling, general and administrative expenses:
Fixed leases cost		131		392
Variable lease cost		35		99
Short-term lease cost, included in cost of goods sold		13		29
Total lease cost	$	203	$	580

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	5	$	10
Operating cash flows from operating leases	$	131	$	392
Financing cash flows from finance leases	$	23	$	54

Remaining Lease Term and Discount Rate

The remaining terms of our leases and the discount rates used in the calculation of the fair value of our leases as of September 30, 2019, follows.

	Operating Leases			Finance Leases
Remaining leases terms (in years)		0.5-13.4			1.3-4.8
Weighted average remaining lease terms (in years)		7.9			3.5
Discount rates		4.9%-9.0	%		4.3%-7.3	%
Weighted average discount rate		7.6	%		5.8	%

Maturities of Lease Liabilities

Maturities of lease liabilities as of September 30, 2019, follows (in thousands).

	Operating Leases			Finance Leases
2019 (three months ended December 31, 2019)	$	114		$	33
2020		525			115
2021		536			91
2022		548			68
2023		528			38
Thereafter		1,897			11
Total lease payments		4,148			356
Amounts representing interest		(1,109	)		(38	)
Present value of lease obligations	$	3,039		$	318

Future Annual Minimum Operating Lease Payments and Finance Lease Maturities

Future annual minimum operating lease payments and finance lease maturities as of December 31, 2018, prepared in accordance with the guidance in effect prior to adoption of ASU 2016-02, follow (in thousands).

	Operating Leases		Finance Leases
2019	$	519	$	51
2020		525		51
2021		536		33
2022		548		5
2023		528		-
Thereafter		1,897		-
Total minimum lease payments	$	4,553	$	140
Amounts representing interest				(9	)
Present value of minimum payments			$	131