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v3.21.1

Leases | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
Leases |
4. | Leases
At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease based on facts and circumstances present in that arrangement. Lease classifications, recognition, and measurement are then determined at the lease commencement date. The Company’s operating lease right-of-use (“ROU”) assets and operating lease liabilities represent primarily leases for office and warehouse spaces used to conduct our business. Finance leases consist primarily of processing and transport equipment used by our facilities’ operations and also include a building with land for our waste treatment operations. The components of lease cost for the Company’s leases were as follows (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2021 |  |  | 2020 |
Operating Lease: |  |  |  |  |  |  |  |
Lease cost |  | $ | 111 |  |  | $ | 114 |
Finance Leases: |  |  |  |  |  |  |  |
Amortization of ROU assets |  |  | 59 |  |  |  | 26 |
Interst on lease liablity |  |  | 19 |  |  |  | 21 |
|  |  | 78 |  |  |  | 47 |
Short-term lease rent expense |  |  | 3 |  |  |  | 3 |
Total lease cost |  | $ | 192 |  |  | $ | 164 |
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at March 31, 2021 were:
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 7.8 |  |  |  | 3.4 |
Weighted average discount rate |  |  | 7.8 | % |  |  | 6.8 | %
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at March 31, 2020 were:
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 8.6 |  |  |  | 1.6 |
Weighted average discount rate |  |  | 8.0 | % |  |  | 12.1 | %
The following table reconciles the undiscounted cash flows for the operating and finance leases at March 31, 2021 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):
|  | Operating Leases |  | Finance Leases |
2021 (Remaining) |  | $ | 296 |  | $ | 458 |
2022 |  |  | 455 |  |  | 271 |
2023 |  |  | 463 |  |  | 150 |
2024 |  |  | 395 |  |  | 146 |
2025 |  |  | 304 |  |  | 146 |
2025 and thereafter |  |  | 1,154 |  |  | 18 |
Total undiscounted lease payments |  |  | 3,067 |  |  | 1,189 |
Less: Imputed interest |  |  | (782 | ) |  | (113 | )
Present value of lease payments |  | $ | 2,285 |  | $ | 1,076 |
Current portion of operating lease obligations |  | $ | 241 |  | $ | — |
Long-term operating lease obligations, less current portion |  | $ | 2,044 |  |  | — |
Current portion of finance lease obligations |  | $ | — |  | $ | 467 |
Long-term finance lease obligations, less current portion |  | $ | — |  | $ | 609 |
Supplemental cash flow and other information related to our leases were as follows (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2021 |  |  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flow from operating leases |  | $ | 101 |  |  | $ | 110 |
Operating cash flow from finance leases |  | $ | 19 |  |  | $ | 21 |
Financing cash flow from finance leases |  | $ | 114 |  |  | $ | 101 |
ROU assets obtained in exchange for lease obligations for: |  |  |  |  |  |  |  |
Finance liabilities |  | $ | — |  |  | $ | 82 |
Operating liabilities |  | $ | — |  |  | $ | — |

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- Definition The entire disclosure for finance and operating leases of lessee. Includes, but is not limited to description of lease and maturity analysis of lease liability. + References No definition available. + Details
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Namespace Prefix: | PESI_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration