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Leases (Tables)

9 Months Ended

Sep. 30, 2019

The impact of the new lease standard on the September 30, 2019 consolidated balance sheet was as follows:


	Classification on the Condensed Consolidated Balance Sheet	September 30, 2019
		(in thousands, except years)
Operating lease assets	Right of use assets-operating leases	$	447

Current lease liabilities	Current operating leases	$	107
Noncurrent lease liabilities	Long-term operating leases	340
Total lease liabilities		$	447

Weighted average remaining lease term in years		2.9
Implicit Rate		3.8		%

Schedule of Cash Flow Impact


	September 30, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating lease cost⁽¹⁾	$	149

(1) Lease costs are classified on the condensed consolidated statements of income in cost of sales, cost of compressors and selling, general and administrative expenses.

Schedule of Future Maturities of Lease Liabilities

The following table shows the future maturities of lease liabilities:


Years Ending December 31,	Lease Liabilities
	(in thousands)
2019 (excluding the nine months ended September 30, 2019)	$	31
2020	116
2021	95
2022	43
2023	35
Thereafter	190
Total lease payments	510
Less: Imputed interest	63
Total	$	447

Schedule of Future Minimum Obligations Under Lease Commitments

As previously disclosed on Form 10-K and under the previous lease standard (Topic 840), future minimum obligations under lease commitments in effect at December 31, 2018 as follows:


	Operating Leases
	(in thousands)
2019	$	298
2020	118
2021	97
2022	44
2023	35
Thereafter	15
Total	$	607