NOTE 5 - LEASES

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

NOTE 5 - LEASES

Our leasing arrangements are primarily for facility leases we use to conduct our operations. The following table presents our future lease payments for long-term operating leases as of March 31, 2019:

For the years ending December 31:

	Operating Lease Commitments
(in thousands)
2019 (remaining)	$	576
2020		766
2021		689
2022		308
2023		88
Thereafter		223
Total	$	2,650
Less Imputed interest		(251	)
Total operating lease liabilities	$	2,399

Cash paid for operating lease liabilities for the three months ended March 31, 2019 was $196,000. There were no new or modified leases during the three months ended March 31, 2019.

The following table presents supplemental balance sheet information related to leases as of March 31, 2019:

	Balance at March 31, 2019
(in thousands)
Right-of-use assets (Long-term other assets)	$	2,039
Lease liability-short term (Other accrued liabilities)		(662	)
Lease liability-long term (Long-term other payables)		(1,737	)

At March 31, 2019, the weighted average remaining lease term is 4.03 years, and the weighted average discount rate is 5%.

The components of our lease expense for the three months ended March 31, 2019 include operating lease costs of $166,000 and short term lease costs of $5,000.

Our real estate facility leases are described below:

During the third quarter of 2017, we amended our lease agreement, extending the lease through July 31, 2022, for the Redmond, Washington headquarters facility. This lease is for approximately 20,460 square feet.

In addition to the Redmond facility, approximately 24,000 square feet is leased at two foreign locations, including our sales, service, operations and engineering office located in Shanghai, China, and our German sales, service and engineering office located near Munich, Germany.

We signed a lease agreement effective November 1, 2015 that extends the lease through October 31, 2021 for a facility located in Shanghai, China. This lease is for approximately 19,400 square feet.

During the fourth quarter of 2016, we signed a lease agreement for a new facility located near Munich, Germany which was effective March 1, 2017 and extends the lease through February 28, 2022. This lease is for approximately 4,895 square feet.