Note 14 - Leases

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Lessee, Operating Leases and Financing Leases [Text Block]

Note 14 – Leases

Supplemental balance sheet information related to leases was as follows:

	December 31,
(in thousands)	2021		2020
Operating lease assets	$	5,578	$	9,855
Current operating lease liabilities	$	3,298	$	3,272
Long-term operating lease liabilities		2,245		7,586
Total operating lease liabilities	$	5,543	$	10,858
Finance lease assets	$	1,898	$	2,396
Current finance lease liabilities	$	550	$	552
Long-term finance lease liabilities		1,351		1,919
Total finance lease liabilities	$	1,901	$	2,471

Lease expense is recognized on a straight-line basis over the lease term, with variable payments recognized in the period those payments are incurred. The components of lease expense for the periods reported were as follows:

	Twelve Months Ended December 31,
(in thousands)	2021		2020
Operating lease cost	$	3,391	$	4,191
Finance lease cost:
Amortization of right-of-use assets	$	498	$	143
Interest on lease obligations	$	9	$	2
Variable lease cost		719		989
Total lease cost	$	4,617	$	5,325

Maturities of operating and finance lease liabilities as of December 31, 2021 were as follows:

(in thousands)	Operating Leases			Finance Leases
Year Ending December 31,
2022	$	2,550		$	561
2023		1,308			1,352
2024		751			-
2025		711			-
2026		344			-
After 2027		-			-
Total future minimum lease payments		5,664			1,913
Less interest		(121	)		(12	)
Present value of lease liabilities	$	5,543		$	1,901

As of December 31, 2021, we have no operating or finance leases that have not yet commenced.

Weighted average remaining lease term and discount rate was as follows: 

	December 31,
	2021			2020
Weighted Average Remaining Lease Term - operating leases (years)		3.1			4.4
Weighted Average Remaining Lease Term - finance leases (years)		1.5			2.5
Weighted Average Discount Rate - operating leases		1.6	%		2.6	%
Weighted Average Discount Rate - finance leases		0.4	%		0.5	%

Supplemental cash flow information related to leases was as follows:

	Twelve Months Ended December 31,
(in thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,477	$	4,426
Operating cash flows from finance leases	$	9	$	2
Financing cash flows from finance leases	$	552	$	154
Lease assets obtained in exchange for new operating lease liabilities		5,293		1,506
Lease assets obtained in exchange for new financing lease liabilities		-		2,523