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Note 12 - Leases | 9 Months Ended
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Sep. 30, 2019
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | 1 2 . Leases We lease datacenters, corporate offices and fiber-optic cables under operating leases. The Company does not have any leases classified as finance leases. Our leases have remaining lease terms of 1 year to 19 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. We have elected to consider leases with a term of 12 months or less as short-term, and as such have not been recognized on the balance sheet. We recognize lease expense for short-term leases on a straight-line basis over the lease term. The Company elected the practical expedient to use hindsight when considering the likelihood that lessee options to extend or terminate a lease or purchase the underlying asset will be exercised, and in assessing the impairment of right-of-use assets. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. For corporate offices, datacenter and fiber-optic cable leases, the Company has elected the practical expedient to combine lease and non-lease components. The components of lease expense were as follows (Dollar amounts in thousands of U.S. dollars):
|  | Three months ended, |  |  | Nine months ended, |
|  | September 30, 2019 |  |  | September 30, 2019 |
Operating Lease Cost (leases with a total term greater than 12 months) |  | $ | 609 |  |  | $ | 2,506 |
Short-term Lease Cost (leases with a total term of 12 months or less) |  |  | 305 |  |  |  | 708 |
Variable Lease Cost |  |  | 156 |  |  |  | 520 |
Total Lease Cost |  | $ | 1,070 |  |  | $ | 3,734 |
Lease Cost is presented in general and administrative expenses and network expenses within our consolidated statements of operations and comprehensive income. Information related to leases was as follows (Dollar amounts in thousands of U.S. dollars):
|  | Three months ended, |  |  | Nine months ended, |
|  | September 30, 2019 |  |  | September 30, 2019 |
Supplemental cashflow information: |  |  |  |  |  |  |  |
Operating Lease - Operating Cash Flows (Fixed Payments) |  | $ | 587 |  |  | $ | 2,472 |
Operating Lease - Operating Cash Flows (Liability Reduction) |  | $ | 466 |  |  | $ | 2,117 |
New ROU Assets - Operating Leases |  | $ | 86 |  |  | $ | 4,554 |
Supplemental balance sheet information related to leases: |  | September 30, 2019 |  |  | (Transition) January 1, 2019 |
Weighted Average Discount Rate |  |  | 5.27 | % |  |  | 5.04 | %
Weighted Average Remaining Lease Term (in years) |  |  | 8.44 |  |  |  | 5.62 |
Maturity of lease liability as of September 30, 2019 ( Dollar amounts in thousands of U.S. dollars):
|  | September 30, 2019 |
Remaining of 2019 |  | $ | 541 |
2020 |  |  | 1,819 |
2021 |  |  | 1,707 |
2022 |  |  | 1,625 |
2023 |  |  | 1,583 |
Thereafter |  |  | 5,991 |
Total future lease payments |  |  | 13,266 |
Less interest |  |  | 2,709 |
Total |  | $ | 10,557 |
Operating lease payments include payments under the non-cancellable term and approximately $0.8 million related to options to extend lease terms that are reasonably certain of being exercised. As of September 30, 2019, we have not entered into any additional leases that have not yet commenced. In January 2019, the Company modified a corporate office lease to increase the term, leading to an increase to both the right of use operating lease asset and right of use operating lease liability of $3.9 million.

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- 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 http://asc.fasb.org/subtopic&trid=77888251 + Details
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