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Note 8 - Leases | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Lessee, Lease, Disclosure [Text Block] |
8. | LEASES:
The following table summarizes the Company’s leases recorded on the Consolidated Balance Sheets (in thousands):
|  | December 31, |
|  | 2021 |  |  | 2020 |
Right-of-use assets: |  |  |  |  |  |  |  |
Finance leases, net, included in Property and equipment (1) |  | $ | 1,730 |  |  | $ | 1,288 |
Operating leases |  |  | 98,507 |  |  |  | 30,813 |
Total right-of-use assets |  | $ | 100,237 |  |  | $ | 32,101 |
Lease liabilities: |  |  |  |  |  |  |  |
Finance leases |  | $ | 2,169 |  |  | $ | 1,729 |
Operating leases |  |  | 98,429 |  |  |  | 30,115 |
Total lease liabilities |  | $ | 100,598 |  |  | $ | 31,844 |
| (1) | Finance lease right-of-use assets are presented net of accumulated amortization of $1.1 million and $1.3 million as of December 31, 2021 and 2020, respectively.
Lease cost consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 413 |  |  | $ | 422 |  |  | $ | 435 |
Interest on lease liabilities |  |  | 90 |  |  |  | 79 |  |  |  | 57 |
Operating lease cost |  |  | 4,627 |  |  |  | 3,647 |  |  |  | 1,934 |
Short-term lease cost |  |  | 993 |  |  |  | 745 |  |  |  | 1,442 |
Variable lease cost |  |  | 158 |  |  |  | 199 |  |  |  | 141 |
Total lease cost |  | $ | 6,281 |  |  | $ | 5,092 |  |  | $ | 4,009 |
The future maturities of lease liabilities as of December 31, 2021 are as follows (in thousands):
|  | Finance Leases |  |  | Operating Leases |
2022 |  | $ | 574 |  |  | $ | 6,802 |
2023 |  |  | 378 |  |  |  | 6,669 |
2024 |  |  | 692 |  |  |  | 6,499 |
2025 |  |  | 449 |  |  |  | 6,529 |
2026 |  |  | 360 |  |  |  | 6,431 |
Thereafter |  |  | - |  |  |  | 88,557 |
Total lease payments |  |  | 2,453 |  |  |  | 121,487 |
Amount representing interest |  |  | (284 | ) |  |  | (23,058 | )
Present value of lease liabilities |  |  | 2,169 |  |  |  | 98,429 |
Current portion of lease liabilities (1) |  |  | (475 | ) |  |  | (4,704 | )
Long-term lease liabilities (2) |  | $ | 1,694 |  |  | $ | 93,725 |
| (1) | Current portion of finance lease liabilities are included in Accrued liabilities.
| (2) | Long-term finance lease liabilities, less current portion are included in Other long-term liabilities.
The following table summarizes the lease terms and discount rates for the lease liabilities:
|  | December 31, |
|  | 2021 |  |  | 2020 |
Weighted-average remaining lease term (years) |  |  |  |  |  |  |  |
Finance leases |  |  | 3.56 |  |  |  | 3.67 |
Operating leases |  |  | 18.42 |  |  |  | 18.21 |
Weighted-average discount rate |  |  |  |  |  |  |  |
Finance leases |  |  | 5.10 | % |  |  | 5.22 | %
Operating leases |  |  | 2.18 | % |  |  | 3.36 | %
The following table presents other information related to the operating and finance leases (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | (90 | ) |  | $ | (79 | ) |  | $ | (57 | )
Operating cash flows from operating leases |  |  | (4,142 | ) |  |  | (3,481 | ) |  |  | (1,909 | )
Financing cash flows from finance leases |  |  | (415 | ) |  |  | (420 | ) |  |  | (434 | )
Right-of-use assets obtained in exchange for finance lease liabilities |  |  | 853 |  |  |  | 507 |  |  |  | 819 |
Right-of-use assets obtained in exchange for operating lease liabilities |  |  | 16,043 |  |  |  | 4,471 |  |  |  | 1,335 |

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