XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.22.1

Note 12 - Leases | 3 Months Ended
--- | ---
Mar. 31, 2022
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 20 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 Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Operating Lease Cost (leases with a total term greater than 12 months) |  | $ | 849 |  |  | $ | 534 |
Short-term Lease Cost (leases with a total term of 12 months or less) |  |  | 11 |  |  |  | 50 |
Variable Lease Cost |  |  | 103 |  |  |  | 176 |
Total Lease Cost |  | $ | 963 |  |  | $ | 760 |
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 Three Months Ended March 31, |
Supplemental cashflow information: |  | 2022 |  |  | 2021 |
Operating Lease - Operating Cash Flows (Fixed Payments) |  | $ | 936 |  |  | $ | 551 |
Operating Lease - Operating Cash Flows (Liability Reduction) |  | $ | 832 |  |  | $ | 472 |
New ROU Assets - Operating Leases |  | $ | 1,378 |  |  | $ | 1,394 |
Supplemental balance sheet information related to leases: |  | March 31, 2022 |  |  | December 31, 2021 |
Weighted Average Discount Rate |  |  | 3.11 | % |  |  | 3.09 | %
Weighted Average Remaining Lease Term |  | 7.36 yrs |  |  | 7.74 yrs |
Maturity of lease liability as of March 31, 2022 (Dollar amounts in thousands of U.S. dollars):
|  | March 31, 2022 |
Remaining of 2022 |  | $ | 2,854 |
2023 |  |  | 3,818 |
2024 |  |  | 2,883 |
2025 |  |  | 2,055 |
2026 |  |  | 1,501 |
Thereafter |  |  | 4,245 |
Total future lease payments |  |  | 17,356 |
Less imputed interest |  |  | 1,673 |
Total |  | $ | 15,683 |
Operating lease payments include payments under the non-cancellable term, without any additional amounts related to options to extend lease terms that are reasonably certain of being exercised. As of March 31, 2022, we have not entered into lease agreements that have not yet commenced. The Company has elected to use the single exchange rate approach when accounting for lease modifications. Under the single exchange rate approach, the entire right of use asset is revalued at the date of modification in the Company’s functional currency provided the re-measurement is not considered a separate contract or if the re-measurement is related to change the lease term or assessment of a lessee option to purchase the underlying asset being exercised.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
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