Note 17 - Leases

12 Months Ended

Dec. 31, 2022

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,
	2022		2021
Amortization of ROU assets - finance leases	$	448	$	270
Interest on lease liabilities - finance leases		137		77
Operating lease cost (cost resulting from lease payments)		8,426		8,229
Short-term lease cost		201		183
Variable lease cost (cost excluded from lease payments)		410		297
Sublease income		-		-
Total lease cost	$	9,622	$	9,056

Supplemental cash flow information related to leases is as follows:

	Year Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,970	$	8,250
Operating cash flows from finance leases		137		77
Finance cash flows from finance leases		423		253
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		8,052		12,595
Finance leases		207		1,862

Supplemental balance sheet information related to leases was as follows:

	2022			2021
Operating Leases:
Operating lease right-of-use assets	$	21,551		$	21,252
Operating lease liability, current		5,870			6,880
Operating lease liability, long-term		15,742			14,668
Total operating lease liabilities	$	21,612		$	21,548
Finance Leases:
Property, plant and equipment, gross	$	3,096		$	2,719
Accumulated depreciation		(1,089	)		(690	)
Property, plant and equipment, net	$	2,007		$	2,029
Other current liabilities	$	446		$	363
Other long-term liabilities		1,608			1,650
Total finance lease liabilities	$	2,054		$	2,013

	2022			2021
Weighted-Average Remaining Lease Term:
Operating leases (in years)		5.1			4.3
Finance leases (in years)		4.9			5.9
Weighted-Average Discount Rate:
Operating leases		6.0	%		6.0	%
Finance leases		6.1	%		6.1	%

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, 2022:

Year Ending	Operating			Finance
December 31,	Leases			Leases
2023	$	6,766		$	587
2024		4,937			574
2025		4,154			404
2026		3,836			380
2027		2,239			312
Thereafter		3,176			259
Total undiscounted cash flows		25,108			2,516
Less imputed interest		(3,496	)		(462	)
Present value of lease liabilities	$	21,612		$	2,054