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Note 10 - Leases | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | 10. Leases We lease facilities, drop yards, office space, land, chassis and equipment. All leases are classified as operating leases. We do not have any financing leases. Payments for operating leases that extend beyond 12 months are fixed. Some leases include options to renew, with renewal terms that can extend the lease term from six months to five years. The exercise of lease renewal options is at our sole discretion and is considered in the determination of the operating lease assets and lease liabilities once reasonably certain of exercise. Management has elected to apply the short-term lease exemption to leases with an initial term of 12 months or less and these leases are not capitalized. This primarily affects drop yards and chassis, for which we recognize lease expense on a straight-line basis over the lease term. As of December 31, the classification of operating leases in our consolidated balance sheets was as follows:
(In thousands) |  | 2022 |  |  | 2021 |
Assets: |  |  |  |  |  |  |  |
Other noncurrent assets (a) |  | $ | 710 |  |  | $ | 540 |
Liabilities: |  |  |  |  |  |  |  |
Accrued and other current liabilities |  |  | 301 |  |  |  | 249 |
Noncurrent operating lease liabilities |  |  | 409 |  |  |  | 291 |
Total liabilities |  | $ | 710 |  |  | $ | 540 |
| (a) | Operating lease asset balances at December 31, 2022 and 2021.
The maturity of the operating lease liabilities is as follows:
|  | Amount |
Maturities: |  |  |  |
2023 |  | $ | 331 |
2024 |  |  | 231 |
2025 |  |  | 66 |
2026 thru 2028 |  |  | 146 |
Total lease payments |  |  | 774 |
Adjust to present value |  |  | (64 | )
Total operating lease liabilities |  | $ | 710 |
The weighted-average remaining lease term at December 31, 2022 was 39 months and at December 31, 2021 was 29 months. The weighted-average discount rate was 4.4% at December 31, 2022 and 2.3% at December 31, 2021. The operating leases identified do not specify implicit rates, accordingly, we use our incremental borrowing rate at the time of lease inception to determine the present value of lease payments. Operating lease assets obtained in exchange for lease obligations in 2022 totaled $318,000. There were no such additions in 2021. We paid $285,000 of cash for capitalized operating leases during 2022 and $504,000 during 2021. Total operating lease expense for 2022 was $5.7 million and for 2021 was $3.7 million. These amounts are reported within other operating expenses in our consolidated statements of operations and include $5.4 million and $3.2 million, respectively, of short-term lease expense with an initial term of 12 months or less.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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