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LEASES | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases of Lessee Disclosure [Text Block] | LEASES: The Company’s leases consist of operating leases for administrative office spaces, research-and-development facilities, design centers and sales offices in various countries around the world. The Company determines if an arrangement is a lease at inception. Some lease agreements contain lease and non-lease components, which are accounted for as a single lease component. Total lease expense was $0.7 million and $1.8 million in the three and nine months ended September 30, 2019, respectively, while short-term and variable lease expenses were not material. Balance sheet information related to leases was as follows:
(In thousands) | Balance Sheet Classification | September 30, 2019
Right-of-use assets |  |
Operating lease assets | Other assets | $ | 9,881 |
Lease liabilities |  |
Current operating lease liabilities | Other accrued liabilities | $ | 1,803 |
Non-current operating lease liabilities | Other liabilities | 7,409 |
Total |  | $ | 9,212 |
Initial lease terms are determined at commencement and may include options to extend or terminate the lease when it is reasonably certain the Company will exercise the option. Remaining lease terms range from one to nine years, some of which include options to extend for up to six years, and some of which include options to terminate within one year. Leases with an initial term of twelve months or less are not recorded on the balance sheet. As the Company’s leases do not provide an implicit rate, the present value of future lease payments is determined using the Company’s incremental borrowing rate based on information available at commencement date.
Lease term and discount rate | September 30, 2019
Weighted average remaining lease term | 5.0 years |
Weighted average discount rate | 3.9 | %
Supplemental cash flows information related to leases was as follow:
| Nine Months Ended
(In thousands) | September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 2,429 |
Right-of-use assets obtained in exchange for new operating lease obligations | $ | 4,501 |
Future minimum lease payments under all non-cancelable lease agreements as of September 30, 2019, are as follows:
(In thousands) | September 30, 2019
2019 (remaining three months) | $ | 311 |
2020 | 2,308 |
2021 | 2,261 |
2022 | 1,882 |
2023 | 1,655 |
Thereafter | 1,744 |
Total future minimum lease payments | 10,161 |
Less imputed interest | (949 | )
Total | $ | 9,212 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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