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Note 4 - Leases

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

NOTE 4: LEASES

The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2021 and 2034. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early.

The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases:

		March 31, 2021 (Unaudited)
Weighted average remaining lease term (years)			4.68
Weighted average discount rates			1.93	%

Total operating lease cost and cash payments for operating leases were as follows:

		Three months ended march 31,
		2021				2020
Operating lease cost		$	741			$	598
Cash payments for operating leases		$	799			$	592

Maturities of lease liabilities are as follows:

The remainder of 2021		$	2,171
2022			2,633
2023			1,185
2024			462
2025			474
2026 and thereafter			1,338
Total undiscounted cash flows			8,263
Less imputed interest			373
Present value of lease liabilities		$	7,890

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- References

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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

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