Note 7 - Leases

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Leases Disclosure [Text Block]

7. LEASES

 Lessee

The Company has operating leases primarily for administrative and sales and marketing offices, manufacturing operations and research and development facilities, employee housing units and certain equipment. These leases have remaining lease terms from less than a year to four years. Some of these leases include options to renew the lease term for up to five years or on a month-to-month basis. The Company does not have finance lease arrangements.

As of  December 31, 2019, operating lease ROU assets totaled $2.9 million and operating lease liabilities totaled $2.4 million. The following tables summarize certain information related to the leases (in thousands, except percentages):

	Year Ended
	December 31, 2019
Lease costs:
Operating lease costs	$	1,509
Short-term and other lease costs		465
Total lease costs	$	1,974

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,364
ROU assets obtained in exchange for new operating lease liabilities (1)	$	3,667

	December 31, 2019
Weighted-average remaining lease term (in years)		2.1
Weighted-average discount rate		3.7	%

(1) The amount includes $2.3 million for operating leases existing on  January 1, 2019.

As of  December 31, 2019, the maturities of the lease liabilities were as follows (in thousands):

2020	$	1,328
2021		734
2022		390
2023		22
Total remaining lease payments		2,474
Less: imputed interest		(117	)
Total lease liabilities	$	2,357
Reported as:
Current liabilities	$	1,254
Long-term liabilities	$	1,103

The Company has elected the transition option under Topic 842 and continued to apply the prior accounting standard for leases, including the disclosure requirements, in the comparative periods. As of December 31, 2018, future minimum rental payments under the non-cancelable operating leases were as follows (in thousands):

2019	$	1,511
2020		872
2021		273
2022		195
2023		26
Total	$	2,877

Rent expense for the years ended December 31, 2018 and 2017 was $1.8 million and $1.5 million, respectively.

Lessor

The Company owns certain office buildings and leases a portion of these properties to third parties under arrangements that are classified as operating leases. These leases have remaining lease terms from one year to five years. Some of these leases include options to renew the lease term for up to five years.

For the year ended  December 31, 2019, income related to lease payments was $1.8 million. As of  December 31, 2019, future income related to lease payments was as follows (in thousands):

2020	$	1,523
2021		1,378
2022		1,138
2023		604
2024		552
Thereafter		45
Total	$	5,240