XML 30 R14.htm IDEA: XBRL DOCUMENT

Note 6 - Leases

12 Months Ended

Dec. 31, 2023

Lessee, Operating and Finance Leases [Text Block]

Note 6 – Leases

The Company is currently a lessee under a number of operating leases and finance leases for certain offices, manufacturing facilities, land, office equipment and automobiles, none of which are material to its operations. The Company’s leases generally have remaining lease terms of 1 year to 5 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within one year. The Company entered into 20 year lease agreement for a commercial and industrial building in Lenexa, Kansas to replace its existing building in 2023. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions.

Supplemental information related to leases and the Company’s Consolidated Financial Statements is as follows:

	2023		2022
Components of lease costs:
Operating lease costs	$	1,829	$	621
Short-term lease costs		897		673
Finance lease costs		131		135
Total lease costs	$	2,857	$	1,429

	2023			2022
Weighted average remaining lease term (years):
Operating leases		12.5			2.4
Finance leases		3.4			1.3
Weighted average discount rate:
Operating leases		7.48	%		3.25	%
Finance leases		3.25	%		3.25	%

	December 31, 2023
	Operating Leases		Financing Leases		Total Leases

Other assets - right-of-use assets	$	20,126	$	110	$	20,236
Lease liabilities included in:
Accrued expenses - current portion of lease liabilities	$	960	$	60	$	1,020
Other long-term liabiltiies - non-current portion of lease liabilities		19,750		60		19,810
Total lease liabilities	$	20,710	$	120	$	20,830

	December 31, 2022
	Operating Leases		Financing Leases		Total Leases

Other assets - right-of-use assets	$	2,010	$	170	$	2,180
Lease liabilities included in:
Accrued expenses - current portion of lease liabilities	$	980	$	130	$	1,110
Other long-term liabiltiies - non-current portion of lease liabilities		1,020		50		1,070
Total lease liabilities	$	2,000	$	180	$	2,180

Maturities of lease liabilities as of December 31, are as follows:

	2023				2022
2024	$	2,501		2023	$	1,217
2025		2,261		2024		792
2026		2,969		2025		286
2027		1,691		2026		42
2028		1,639		2027		3
Thereafter		29,491		Thereafter		8
Total lease payments		40,552		Total lease payments		2,348
Less: Interest		(19,722	)	Less: Interest		(168	)
Present value of lease liabilities	$	20,830		Present value of lease liabilities	$	2,180