Note 8 - Operating Leases

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

8. OPERATING LEASES

The Company has operating leases predominantly for operating facilities. As of March 31, 2022, the remaining lease terms on our operating leases range from approximately one (1) year to ten (10) years. Lease terms include renewal options reasonably certain of exercise. There is no transfer of title or option to purchase the leased assets upon expiration. There are no residual value guarantees or material restrictive covenants.

The components of lease expense for the current and prior-year comparative periods were as follows:

	Three-month period ended March 31,
	2022		2021
Operating lease cost	$	233	$	187
Variable lease cost		24		19
Total lease cost	$	257	$	206

Supplemental cash flow information related to leases was as follows:

	Three-month period ended March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	227	$	181
Right-of-use assets obtained in exchange for lease liabilities:	$	-	$	-

Supplemental consolidated balance sheet information related to leases was as follows:

	Balance sheet classification	March 31, 2022			December 31, 2021
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	2,401		$	2,581
Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	869		$	867
Operating lease liability, net of current portion	Other noncurrent liabilities		1,558			1,743
Total operating lease liability		$	2,427		$	2,610
Weighted-average remaining lease term (years)			4.4			4.5
Weighted-average discount rate			4.5	%		4.5	%

Future minimum lease payments as of March 31, 2022 are as follows:

Maturity of operating lease liabilities
2022	$	664
2023		897
2024		464
2025		140
2026		142
2027		142
Thereafter		288
Total lease payments		2,737
Less: Imputed interest		(310	)
Present value of remaining lease payments	$	2,427