Note 16 - Leases

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

16.  LEASES 

The Company has operating leases for its facilities used for manufacturing, research and development, sales and administration.  There are also operating and finance leases related to manufacturing equipment, office equipment and vehicles.  These leases have remaining lease terms ranging from 1 year to 8 years.  Certain of the leases contain options to extend the term of the lease and certain of the leases contain options to terminate the lease within a specified period of time.  These options to extend or terminate a lease are included in the lease term only when it is reasonably likely that the Company will elect that option.  The Company is not a party to any material sublease arrangements.

The components of lease expense, which are included in cost of sales, research and development costs, and selling, general and administrative expense, based on the underlying use of the ROU asset, were as follows:

	Year Ended
	December 31, 2020
Amortization of ROU assets - finance leases	$	205
Interest on lease liabilities - finance leases		65
Operating lease cost (cost resulting from lease payments)		8,113
Short-term lease cost		189
Variable lease cost (cost excluded from lease payments)		270
Sublease income		-
Total lease cost	$	8,842

Supplemental cash flow information related to leases are as follows:

	Year Ended
	December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,022
Operating cash flows from finance leases		65
Finance cash flows from finance leases		185
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		3,384
Finance leases		451

Supplemental balance sheet information related to leases was as follows:

	December 31, 2020
Operating Leases:
Operating lease right-of-use assets	$	14,217
Operating lease liability, current		6,591
Operating lease liability, long-term		8,064
Total operating lease liabilities	$	14,655
Finance Leases:
Property, plant and equipment, gross	$	966
Accumulated depreciation		(391	)
Property, plant and equipment, net	$	575
Other current liabilities	$	198
Other long-term liabilities		790
Total finance lease liabilities	$	988

	December 31, 2020
Weighted-Average Remaining Lease Term:
Operating leases (in years)		2.7
Finance leases (in years)		4.6
Weighted-Average Discount Rate:
Operating leases		6.0	%
Finance leases		6.3	%

Our discount rate is based on our incremental borrowing rate, as adjusted based on the geographic regions in which our leases assets are located.

Maturities of lease liabilities were as follows as of December 31, 2020:

Year Ending	Operating			Finance
December 31,	Leases			Leases
2021	$	7,575		$	280
2022		4,655			264
2023		2,421			264
2024		883			248
2025		260			78
Thereafter		315			80
Total undiscounted cash flows		16,109			1,214
Less imputed interest		(1,454	)		(226	)
Present value of lease liabilities	$	14,655		$	988