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Note 4 - Leases

3 Months Ended

Mar. 31, 2022

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 2023 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. 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, 2022 (Unaudited)
Weighted average remaining lease term (years)		4.97
Weighted average discount rates		1.96	%

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

	Three months ended March 31,
	2022 (unaudited)		2021 (unaudited)

Operating lease cost	$	800	$	741
Cash payments for operating leases		830		799

Maturities of lease liabilities are as follows:

The remainder of 2022	$	2,742
2023		1,562
2024		801
2025		808
2026		752
2027 and thereafter		1,594
Total undiscounted cash flows		8,259
Less imputed interest		403
Present value of lease liabilities	$	7,856