Note 17 - Leases

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

17.  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,
	2021		2020
Amortization of ROU assets - finance leases	$	270	$	205
Interest on lease liabilities - finance leases		77		65
Operating lease cost (cost resulting from lease payments)		8,229		8,113
Short-term lease cost		183		189
Variable lease cost (cost excluded from lease payments)		297		270
Sublease income		-		-
Total lease cost	$	9,056	$	8,842

Supplemental cash flow information related to leases is as follows:

	Year Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,250	$	8,022
Operating cash flows from finance leases		77		65
Finance cash flows from finance leases		253		185
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		12,595		3,384
Finance leases		1,862		451

Supplemental balance sheet information related to leases was as follows:

	2021			2020
Operating Leases:
Operating lease right-of-use assets	$	21,252		$	14,217
Operating lease liability, current		6,880			6,591
Operating lease liability, long-term		14,668			8,064
Total operating lease liabilities	$	21,548		$	14,655
Finance Leases:
Property, plant and equipment, gross	$	2,719		$	966
Accumulated depreciation		(690	)		(391	)
Property, plant and equipment, net	$	2,029		$	575
Other current liabilities	$	363		$	198
Other long-term liabilities		1,650			790
Total finance lease liabilities	$	2,013		$	988

	2021			2020
Weighted-Average Remaining Lease Term:
Operating leases (in years)		4.3			2.7
Finance leases (in years)		5.9			4.6
Weighted-Average Discount Rate:
Operating leases		6.0	%		6.0	%
Finance leases		6.1	%		6.3	%

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

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

Year Ending	Operating			Finance
December 31,	Leases			Leases
2022	$	7,891		$	555
2023		5,366			555
2024		3,920			542
2025		3,240			391
2026		2,950			391
Thereafter		1,538			577
Total undiscounted cash flows		24,905			3,011
Less imputed interest		(3,357	)		(998	)
Present value of lease liabilities	$	21,548		$	2,013