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Note 5 - Leases

9 Months Ended

Sep. 30, 2021

NOTE 5: 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 2022 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:

September 30, 2021

(Unaudited)

Weighted average remaining lease term (years)

5.07

Weighted average discount rates

1.98

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

	Nine months ended September 30,				Three months ended September 30,
	2021 (unaudited)		2020 (unaudited)		2021 (unaudited)		2020 (unaudited)

Operating lease cost	$	2,305	$	1,883	$	806	$	652
Cash payments for operating leases		2,397		1,968		799		623

Maturities of lease liabilities are as follows:

The remainder of 2021	$	885
2022		3,284
2023		1,636
2024		798
2025		818
2026 and thereafter		2,370
Total undiscounted cash flows		9,791
Less imputed interest		489
Present value of lease liabilities	$	9,302