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Note 12 - Leases
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]
12.
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.
 
 
The components of lease expense were as follows (Dollar amounts in thousands of U.S. dollars): 
 
 
   
For the twelve months ended
  
   
December 31, 2019
  
Operating Lease Cost (leases with a total term greater than 12 months)
   $
3,057
  
Short-term Lease Cost (leases with a total term of 12 months or less)
    
1,040
  
Variable Lease Cost
    
657
  
Total Lease Cost
   $
4,754
  
 
 
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):
 
 
   
For the twelve months ended
  
Supplemental cashflow information:
  
December 31, 2019
  
Operating Lease - Operating Cash Flows (Fixed Payments)
   $
3,130
  
Operating Lease - Operating Cash Flows (Liability Reduction)
   $
2,665
  
New ROU Assets - Operating Leases
   $
5,392
  
 
 
Supplemental balance sheet information related to leases:
  
December 31, 2019
    
(Transition) January 1, 2019
  
Weighted Average Discount Rate
    
5.20
 %    
5.04
 %
Weighted Average Remaining Lease Term
  
8.62 yrs
    
5.62 yrs
  
 
Maturity of lease liability as of
December 31,
2019
(Dollar amounts in thousands of U.S. dollars):
 
 
   
December 31, 2019
  
2020
   $
1,910
  
2021
    
1,783
  
2022
    
1,704
  
2023
    
1,667
  
2024
    
1,380
  
Thereafter
    
5,162
  
Total future lease payments
    
13,606
  
Less interest
    
2,769
  
Total
   $
10,837
  
 
Operating lease payments include payments under the non-cancellable term and approximately
$0.6
 million related to options to extend lease terms that are reasonably certain of being exercised.
 
As of
December 31,
2019
,
we have entered into lease agreements for total payments of
$0.9
million that have
not
yet commenced, and therefore are
not
included in the lease liability.