NOTE 12 – LEASES

Leases that are economically similar to the purchase of an asset are classified as finance leases. The leased, or right-of-use assets in finance lease arrangements are reported in net property, plant and equipment on our condensed consolidated balance sheet. Right-of-use assets and liabilities on our condensed consolidated balance sheet at June 30, 2020 were:


Finance lease:	June 30, 2020
Property, plant and equipment	$	54,376
Accumulated depreciation		38,063
Net property, plant and equipment	$	16,313
Current portion of long-term debt	$	12,084
Long-term debt	$	7,501
Total finance lease liabilities	$	19,585

In December 2019, we signed an operating lease for office space that expires in less than 12 months and is amortized on a straight line basis. Other supplemental information regarding our leases are contained in the following tables:


Components of lease expense for the period ended:	June 30, 2020
Operating lease amortization	$	949
Finance lease amortization	$	2,719
Finance lease interest	$	2,674


Weighted average lease term and discount rate at:	June 30, 2020
Finance lease term (years)	1.75
Finance lease rate	8	%


Supplemental cash flow information related to leases for the period ended:	June 30, 2020
Cash used in operating activities	$	949
Cash used in financing activities	$	2,875