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Note 5 - Leases

6 Months Ended

Jun. 30, 2023

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 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.

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED

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

June 30, 2023

(Unaudited)

Weighted average remaining lease term (years)

4.65

Weighted average discount rates

3.50

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

	Six months ended June 30,				Three months ended June 30,
	2023		2022		2023		2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)

Operating lease cost	$	1,642	$	1,643	$	820	$	843
Cash payments for operating leases		1,647		1,616		828		786

Maturities of lease liabilities are as follows:

The remainder of 2023	$	1,573
2024		2,739
2025		2,129
2026		1,036
2027		963
2028 and thereafter		1,368
Total undiscounted cash flows		9,808
Less imputed interest		674
Present value of lease liabilities	$	9,134