LEASES

3 Months Ended

Mar. 31, 2022

LEASES

Note 5 - Leases

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, 2022:

	Operating Lease Commitments
(in thousands)
2022 (remaining)	$	594
2023		920
2024		836
2025		585
2026		133
Thereafter		48
Total	$	3,116
Less Imputed interest		(356	)
Total operating lease liabilities	$	2,760

Cash paid for operating lease liabilities for the three months ended March 31, 2022 and 2021 were $212,000 and $201,000, respectively. 

The following table presents supplemental balance sheet information related to leases:

	Balance at March 31, 2022		Balance at December 31, 2021
(in thousands)
Right-of-use assets (Long-term other assets)	$	2,697	$	2,793
Lease liability-short term (Other accrued liabilities)		623		601
Lease liability-long term (Operating lease liabilities)		2,138		2,277

At March 31, 2022, the weighted average remaining lease term is 3.67 and the weighted average discount rate used is 5%.

The components of our lease expense for the three months ended March 31, 2022 and 2021 include operating lease costs of $220,000 and $171,000, respectively, and short-term lease costs of $20,000 and $7,000, respectively.

Our real estate facility leases are described below:

During the fourth quarter of 2021, we amended our lease agreement for the Redmond, Washington headquarters facility, extending the lease to January 31, 2026.  The lease is for approximately 20,460 square feet. 

In April 2021, we signed a lease extension effective November 1, 2021  that extends the lease for a facility located in Shanghai, China through October 31, 2024.  This lease is for approximately 19,400 square feet.

Our lease for our facility located near Munich, Germany ran through February 28, 2022 and in March 2022 we entered into a lease extension to August 2027.  This lease is for approximately 4,895 square feet.