XML 18 R18.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Note 9 - Leases | 12 Months Ended
--- | ---
Dec. 31, 2019
Notes to Financial Statements |
Lessee, Lease, Disclosure [Text Block] |
9. | LEASES:
The Company has entered into various equipment and property leases with terms of ten years or less. Certain lease agreements include renewals and/or purchase options set to expire at various dates, and certain lease agreements include rental payments adjusted periodically for inflation. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement is a lease at inception. Leases with an initial term of twelve months or less are not recorded on the balance sheet; costs for these leases are recognized on a straight-line basis over the lease term. Right-of-use assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company's leases do not provide an implicit rate of return, the Company uses its asset-based lending rate in determining the present value of lease payments. Some of the Company’s lease agreements contain non-lease components, which are accounted for separately. The following table summarizes the Company's leases recorded on the Consolidated Balance Sheet (in thousands):
|  | December 31, |
|  | 2019 |
Right-of-use assets: |  |  |  |
Finance leases, included in Property and equipment |  | $ | 2,081 |
Operating leases, included in Other assets |  |  | 7,683 |
Total right-of-use assets |  | $ | 9,764 |
Lease liabilities: |  |  |  |
Finance leases |  | $ | 1,641 |
Operating leases |  |  | 7,889 |
Total lease liabilities |  | $ | 9,530 |
Lease cost consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2019 |
Finance lease cost: |  |  |  |
Amortization of right-of-use assets |  | $ | 435 |
Interest on lease liabilities |  |  | 57 |
Operating lease cost |  |  | 1,934 |
Short-term lease cost |  |  | 1,442 |
Variable lease cost |  |  | 141 |
Total lease cost |  | $ | 4,009 |
As we have not restated prior-year information for our adoption of Topic 842, total operating lease rental expense under ASC Topic 840, “Leases” for the years ended December 31, 2018 and 2017 was $2.7 million and $3.0 million, respectively. The future maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):
|  | Finance Leases |  |  | Operating Leases |
2020 |  | $ | 499 |  |  | $ | 1,963 |
2021 |  |  | 382 |  |  |  | 1,290 |
2022 |  |  | 361 |  |  |  | 984 |
2023 |  |  | 157 |  |  |  | 802 |
2024 |  |  | 471 |  |  |  | 814 |
Thereafter |  |  | - |  |  |  | 3,664 |
Total lease payments |  |  | 1,870 |  |  |  | 9,517 |
Amount representing interest |  |  | (229 | ) |  |  | (1,628 | )
Present value of lease liabilities |  |  | 1,641 |  |  |  | 7,889 |
Current portion of lease liabilities, included in Accrued liabilities |  |  | (420 | ) |  |  | (1,642 | )
Lease liabilities, less current portion, included in Other long-term liabilities |  | $ | 1,221 |  |  | $ | 6,247 |
The following table summarizes the lease terms and discount rates for the lease liabilities:
|  | December 31, 2019 |
Weighted-average remaining lease term (years) |  |  |  |
Finance leases |  |  | 3.79 |
Operating leases |  |  | 8.31 |
Weighted-average discount rate |  |  |  |
Finance leases |  |  | 5.40 | %
Operating leases |  |  | 4.50 | %
The following table presents other information related to the operating and finance leases (in thousands):
|  | Year Ended December 31, |
|  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | (57 | )
Operating cash flows from operating leases |  |  | (1,909 | )
Financing cash flows from finance leases |  |  | (434 | )
Right-of-use assets obtained in exchange for finance lease liabilities |  |  | 819 |
Right-of-use assets obtained in exchange for operating lease liabilities |  |  | 1,335 |

X
- Definition The entire disclosure for leases of lessee. + References No definition available. + Details
Name: | nwpx_LesseeLeaseDisclosureTextBlock
Namespace Prefix: | nwpx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration