XML 31 R16.htm IDEA: XBRL DOCUMENT
v3.22.4

LEASES | 12 Months Ended
--- | ---
Dec. 31, 2022
Leases |
LEASES | 9. LEASES In the U.S., the Company owns its two main operating facilities located in Exton, Pennsylvania. In addition to the owned facilities, the Company also has operations in other locations that are leased, as well as other leased assets. In conjunction with the guidance for leases, as defined by the FASB with ASU 2016-02, Leases (Topic 842), the Company has described the existing leases, which are all classified as operating leases, pursuant to the below. In the U.S., the Company leases a facility in Houston, Texas, which currently provides manufacturing, stocking, and sales operations, with the lease term running through October 2024, and a facility in Malvern, Pennsylvania, which was consummated effective January 1, 2022, with a three year term ending in December 2024, that provides warehousing. Also in 2022, the Company extended its operating lease agreement for its corporate office space in Middletown, Connecticut, with the lease term ending in June 2027. In the U.K., the Company leases a facility in Banbury, England, which serves manufacturing, warehousing, and other operational functions. The lease in Banbury has a 15-year term ending in March 2036. In addition to property rentals, the Company also has lease agreements in place for various fleet vehicles and equipment with various lease terms. On December 31, 2022, the Company has right-of-use assets of $3,205,000, and a lease liability of $3,210,000, of which $447,000 was reported as a current liability. On December 31, 2021, the Company has right-of-use assets of $3,374,000, and a lease liability of $3,373,000, of which $383,000 was reported as a current liability. The respective weighted average remaining lease term and discount rate are approximately 11.02 years and 1.06% as of December 31, 2022. Rent expense for operating leases was approximately $504,000, $421,000, and $301,000 for the years ended December 31, 2022, 2021 and 2020, respectively. Future minimum lease payments, inclusive of interest of $178,000, under non-cancelable leases as of December 31, 2022 is as follows: SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES
Year Ending December 31, |  | Operating Leases |
|  | (in thousands) |
2023 |  | $ | 447 |
2024 |  |  | 419 |
2025 |  |  | 258 |
2026 |  |  | 256 |
2027 |  |  | 223 |
Thereafter |  |  | 1,607 |
Total Minimum Lease Payments |  | $ | 3,210 |

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

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration