Note J - Leases

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Lease Disclosure [Text Block]

J. Leases

We have operating and finance leases for office space, laboratory facilities and various laboratory equipment, furniture and office equipment and leasehold improvements. Our leases have remaining lease terms of

1

year to

7

years, some of which include options to extend the leases for up to

5

years, and some which include options to terminate the leases within

1

year.

The components of lease expense were as follows (in thousands): 

	Three months ended March 31,
Lease Cost	2019
Finance lease cost:
Amortization of right-of-use assets	$	31
Interest on lease liabilities		11
Total finance lease cost		42
Operating lease cost		124
Short-term lease cost		57
Variable lease cost		15
Less: sublease income		(25	)
Total lease costs	$	213

Supplemental cash flow information related to leases was as follows (in thousands):

	Three months ended March 31,
	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	11
Financing cash flows from finance leases		51
Operating cash flows from operating leases		108
Operating cash flows from short-term leases		57
Operating cash flows from variable lease costs		15
Right-of-use assets obtained in exchange for lease liabilities:
Finance leases	$	737
Operating leases		1,852

Supplemental balance sheet information related to leases was as follows (in thousands, except weighted average remaining lease term and weighted average discount rate):

	March 31,
	2019
Finance Leases
Property and equipment, at cost	$	1,013
less: accumulated depreciation and amortization		(306	)
Property and equipment, net	$	707
Other current liabilities		218
Other long-term liabilities		341
Total finance lease liabilities	$	559
Operating Leases
Operating lease right-of-use assets	$	1,785
Current portion of operating lease liabilities		395
Operating lease liabilities, less current portion		2,142
Total operating lease liabilities	$	2,537
Weighted Average Remaining Lease Term
Finance leases	3 years
Operating leases	6 years
Weighted Average Discount Rate
Finance leases		7.7	%
Operating leases		7.5	%

Maturities of lease liabilities were as follows (in thousands):

	Finance			Operating
Year Ending December 31,	Leases			Leases
2019 (excluding the three months ended March 31, 2019)	$	191		$	428
2020		251			499
2021		163			449
2022		11			461
2023		—			472
Thereafter		—			903
Total lease payments	$	616		$	3,212
Less: future interest expense		(57	)		(675	)
Lease liabilities	$	559		$	2,537