Note 4 - Operating Leases

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

NOTE 4: - OPERATING LEASES

The Company has entered into various non-cancelable operating lease agreements of its offices and car leases. The Company’s headquarters is located in San Jose, California pursuant to a lease that terminates in

December 2021.

The Company and its subsidiaries lease certain equipment and facilities under non-cancelable operating leases. The Company has significant leased facilities in Herzliya, Israel. The lease agreement for the facilities of its Israeli subsidiary is effective until

April 2029.

The Company’s subsidiaries in Germany, China (Shanghai and Shenzhen), Japan, South Korea and India have lease agreements for their facilities that terminate in

2020,

with the agreement in India having an option to be extended until

2030.

The Company’s subsidiary in Hong-Kong has a lease agreement for its facilities that terminate in

2022.

The Company has operating lease agreements for its motor vehicles which terminate in

2020

through

2022.

Many leases include

one

or more options to renew. The Company assumes renewals in the determination of the lease term if the renewals are deemed to be reasonably assured at lease commencement date. The Company's lease agreements do

not

contain any material residual value guarantees or material restrictive covenants.

Total operating lease costs during

2019

were

$2,997,

out of which an amount of

$2,432

represented the total cash paid for amounts included in the measurement of operating lease liabilities during the year ended

December 31, 2019.

During

2019,

total new lease liability amounted to

$1,114.

Other information about lease amounts recognized in the Company’s consolidated financial statements is summarized as follows:

	December 3 1 , 2019
Weighted-average remaining lease term – operating leases (in years)		8.14
Weighted-average discount rate – operating leases		5.08	%

As of

December 31, 2019,

the Company’s lease liabilities were as follows:

	Operating Leases
2020	$	2,620
2021		2,139
2022		1,848
2023		1,446
2024 and thereafter		8,179
Total undiscounted lease payments		16,232
Less: imputed interest		(3,227	)
Present value of lease liabilities		13,005
Less: current portion of lease liabilities		(2,569	)
Total long-term lease liabilities	$	10,436

Facilities rental expenses amounted to

$2,354,

$2,328

and

$2,308

for the years ended

December 

31,

2019,

2018

and

2017,

respectively.