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Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

NOTE 9: - LEASES

The Company has entered into various operating lease agreements for certain of its offices and car leases with original lease periods expiring between 2021 and 2028. Most of the lease agreements include one or more options to renew. The Company does not assume renewals in determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement.

In December 2020, the Company's lease of its offices in Israel was amended. The amendment included a decrease in rental space and price per meter, as a result of the amendment, the operating lease right of use decreased by $1,717 and the operating lease liability decreased by $2,233, the Company recorded a foreign currency exchange gain of $484 and a termination gain within operating income of $32.

Lease payments included in the measurement of the operating lease liability comprise the following: the fixed non-cancelable lease payments and payments for optional renewal periods where it is reasonably certain the renewal period will be exercised. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As of December 31, 2020, the Company’s assessment for the remaining lease term range between 0.6 years to 7.3 years, including options to extend part of the lease agreements for an additional 2 years and up to 5 years.

The following table represents the weighted-average remaining lease term and discount rate:

		December 31,				December 31,
		2020				2019
Weighted average remaining lease term			2.20 years				2.83 years
Weighted average discount rate			4.46	%			3.75	%

The components of lease expense for the year ended December 31, 2020 were as follows:

		Year ended				Year ended
		December 31, 2020				December 31, 2019
Operating lease		$	1,223			$	1,325
Short-term lease			6				79
Total lease expense		$	1,229			$	1,404

Cash paid for amounts included in the measurement of operating lease liabilities was $1,184 and $1,252 during the years ended December 31, 2020 and 2019, respectively.

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2020:

		Operating Leases
2021			1,094
2022			1,140
2023			376
2024			222
2025 and thereafter			431
Total operating lease payments		$	3,263
Less: imputed interest			227
Present value of lease liabilities		$	3,036

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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