XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.23.1

Note 6 - Leases | 3 Months Ended
--- | ---
Mar. 31, 2023
Notes to Financial Statements |
Lessee, Leases [Text Block] |
6. | Leases
The Company has various operating lease agreements for office space, warehouses, manufacturing, and production locations as well as vehicles and other equipment. Our real estate leases have remaining lease terms of one to ten years. We exclude options that are not reasonably certain to be exercised from our lease terms, ranging from one to five years. Our lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms. For certain leases, we receive incentives from our landlords, such as rent abatements, which effectively reduce the total lease payments owed for these leases. Vehicle and other equipment operating leases have terms between one and five years. Our financing leases relate to research equipment, machinery, and other equipment. The table below presents certain information related to the weighted average discount rate and weighted average remaining lease term for the Company’s leases as of March 31, 2023 and December 31, 2022:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Weighted average discount rate - operating leases |  |  | 4.3 | % |  |  | 4.2 | %
Weighted average discount rate - finance leases |  |  | 6.1 | % |  |  | 6.1 | %
Weighted average remaining lease term in years - operating leases |  |  | 6.9 |  |  |  | 7.2 |
Weighted average remaining lease term in years - finance leases |  |  | 1.8 |  |  |  | 2.0 |
The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows:
|  | Three Months Ended |
|  | March 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Operating lease costs |  | $ | 897 |  |  | $ | 913 |
Short-term lease costs |  |  | 402 |  |  |  | 565 |
Total operating lease costs |  |  | 1,299 |  |  |  | 1,478 |
Variable lease costs |  |  | 259 |  |  |  | 305 |
Total lease costs |  | $ | 1,558 |  |  | $ | 1,783 |
Maturities of our lease liabilities as of March 31, 2023 are as follows:
(In thousands) |  | Operating Leases |  |  | Financing Leases |
2023 (9 months remaining) |  | $ | 2,690 |  |  | $ | 128 |
2024 |  |  | 3,398 |  |  |  | 101 |
2025 |  |  | 2,954 |  |  |  | 38 |
2026 |  |  | 2,533 |  |  |  | 2 |
2027 |  |  | 2,280 |  |  |  | - |
Thereafter |  |  | 6,938 |  |  |  | - |
Total lease payments |  |  | 20,793 |  |  |  | 269 |
Less: interest |  |  | (2,773 | ) |  |  | (13 | )
Total present value of lease liabilities |  | $ | 18,020 |  |  | $ | 256 |

X
- Definition The entire disclosure for operating and financing leases of lessee. + References No definition available. + Details
Name: | blfs_LesseeLeasesTextBlock
Namespace Prefix: | blfs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration