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Note 14 - Leases | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Lessee, Operating Leases and Financing Leases [Text Block] | Note 14 – Leases Supplemental balance sheet information related to leases was as follows:
|  | December 31, |
(in thousands) |  | 2022 |  |  | 2021 |
Operating lease assets |  | $ | 3,844 |  |  | $ | 5,578 |
Current operating lease liabilities |  | $ | 1,561 |  |  | $ | 3,298 |
Long-term operating lease liabilities |  |  | 2,255 |  |  |  | 2,245 |
Total operating lease liabilities |  | $ | 3,816 |  |  | $ | 5,543 |
Finance lease assets |  | $ | 17,532 |  |  | $ | 1,898 |
Current finance lease liabilities |  | $ | 17,537 |  |  | $ | 550 |
Long-term finance lease liabilities |  |  | - |  |  |  | 1,351 |
Total finance lease liabilities |  | $ | 17,537 |  |  | $ | 1,901 |
Lease expense is recognized on a straight-line basis over the lease term, with variable payments recognized in the period those payments are incurred. The components of lease expense for the periods reported were as follows:
|  | Twelve Months Ended December 31, |
(in thousands) |  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 3,002 |  |  | $ | 3,391 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 532 |  |  | $ | 498 |
Interest on lease obligations |  | $ | 95 |  |  | $ | 9 |
Variable lease cost |  |  | 560 |  |  |  | 719 |
Total lease cost |  | $ | 4,189 |  |  | $ | 4,617 |
Maturities of operating and finance lease liabilities as of December 31, 2022 were as follows:
(in thousands) |  | Operating Leases |  |  | Finance Leases |
Year Ending December 31, |  |  |  |  |  |  |  |
2023 |  | $ | 1,584 |  |  | $ | 18,489 |
2024 |  |  | 1,088 |  |  |  | - |
2025 |  |  | 883 |  |  |  | - |
2026 |  |  | 344 |  |  |  | - |
2027 |  |  | - |  |  |  | - |
After 2028 |  |  | - |  |  |  | - |
Total future minimum lease payments |  |  | 3,899 |  |  |  | 18,489 |
Less interest |  |  | (83 | ) |  |  | (952 | )
Present value of lease liabilities |  | $ | 3,816 |  |  | $ | 17,537 |
As of December 31, 2022, we have no operating or finance leases that have not yet commenced. Weighted average remaining lease term and discount rate was as follows:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Weighted Average Remaining Lease Term - operating leases (years) |  |  | 2.9 |  |  |  | 3.1 |
Weighted Average Remaining Lease Term - finance leases (years) |  |  | 36.0 |  |  |  | 1.5 |
Weighted Average Discount Rate - operating leases |  |  | 1.6 | % |  |  | 1.6 | %
Weighted Average Discount Rate - finance leases |  |  | 5.9 | % |  |  | 0.4 | %
Supplemental cash flow information related to leases was as follows:
|  | Twelve Months Ended December 31, |
(in thousands) |  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $3,778 |  |  | $10,477 |
Operating cash flows from finance leases |  | $95 |  |  | $9 |
Financing cash flows from finance leases |  | $531 |  |  | $552 |
Lease assets obtained in exchange for new operating lease liabilities |  | $898 |  |  | $5,293 |
Lease assets obtained in exchange for new financing lease liabilities |  | $16,167 |  |  | - |

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