Leases (Tables)

6 Months Ended

Jun. 30, 2020

Disclosure Of Leases [Abstract]

Disclosure of right-of-use assets and liabilities for operating and finance leases

The table below summarizes the Company’s right-of-use (“ROU”) assets and corresponding liabilities for operating and finance leases:

	June 30,		December 31,
	2020		2019
Operating leases:
ROU Assets	$	337	$	484
Liabilities	$	350	$	513
Finance leases:
ROU Assets	$	79	$	79
Liabilities	$	52	$	60

Disclosure of operating and finance leases of lessee

The following table summarizes the Company’s operating and finance leases in which the Company is a lessee:

		Renewal	Other Terms and
Class of Assets	Initial Term	Option	Conditions
Operating lease:
Office equipment	1 to 63 months	Yes	(a), (b)
Storage units (e)	2 years	Yes	(b)
Office space	3 to 10 years	Yes	(b), (c)
Finance lease:
Office equipment	3 to 5 years	Not applicable	(d)

(a) At the end of the lease term, the Company can purchase the equipment at fair market value.

(b) There are no variable lease payments.

(c) Rent escalation provisions exist.

(d) There is a bargain purchase option.

(e) The initial lease term has expired in May 2020. The lease was renewed for one year.

Disclosure of lease liabilities maturities

As of June 30, 2020, maturities of lease liabilities were as follows:

	Leases
	Operating		Finance
Due in 12 months following June 30,
2020	$	272	$	19
2021		91		19
2022		12		14
2023		—		3
Total lease payments		375		55
Less: interest and foreign taxes		25		3
Total lease obligations	$	350	$	52

Disclosure of quantitative information of operating and finance leases

The following table provides quantitative information with regard to the Company’s operating and finance leases.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Lease costs:
Finance lease costs:
Amortization – ROU assets*	$	5	$	3	$	9	$	6
Interest expense		1		—		1		1
Operating lease costs*		78		73		156		154
Short-term lease costs*		42		59		91		104
Total lease costs	$	126	$	135	$	257	$	265
Cash paid for amounts included in    the measurement of lease liabilities:
Operating cash flows – finance leases					$	1	$	1
Operating cash flows – operating leases					$	159	$	159
Financing cash flows – finance leases					$	8	$	5
	June 30, 2020
Weighted-average remaining lease term:
Finance leases (in years)		3.0
Operating leases (in years)		1.4
Weighted-average discount rate:
Finance leases	3.7%
Operating leases	4.0%

* Included in other operating expenses of the consolidated statement of income.

Disclosure of operating leases of lessor entity

The following table summarizes the Company’s operating leases in which the Company is a lessor:

		Renewal	Other Terms and
Class of Assets	Initial Term	Option	Conditions
Operating lease:
Office space	1 to 3 years	Yes	(f)
Retail space	3 to 20 years	Yes	(f)
Boat docks/wet slips	1 to 12 months	Yes	(f)

(f) There are no purchase options.