XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.21.2

Leases | 9 Months Ended
--- | ---
Sep. 30, 2021
Leases |
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 building spaces used to conduct our business. Finance leases consist primarily of processing and transport equipment used by our facilities’ operations. The Company’s finance leases also included a building with land utilized for our waste treatment operations which included a purchase option. During the third quarter of 2021, the Company concluded that it was more likely than not that it would not exercise this purchase option but will continue to lease the property. Accordingly, a reassessment of this lease was performed which resulted in reclassification of this lease to an operating lease. The components of lease cost for the Company’s leases for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): Schedule of Components of Lease Cost
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease cost |  | $ | 115 |  |  | $ | 114 |  |  | $ | 341 |  |  | $ | 342 |
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of ROU assets |  |  | 53 |  |  |  | 109 |  |  |  | 170 |  |  |  | 161 |
Interest on lease liability |  |  | 50 |  |  |  | 47 |  |  |  | 85 |  |  |  | 97 |
Finance Leases |  |  | 103 |  |  |  | 156 |  |  |  | 255 |  |  |  | 258 |
Short-term lease rent expense |  |  | 4 |  |  |  | 3 |  |  |  | 10 |  |  |  | 7 |
Total lease cost |  | $ | 222 |  |  | $ | 273 |  |  | $ | 606 |  |  | $ | 607 |
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at September 30, 2021 were: Schedule of Weighted Average Lease
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 7.1 |  |  |  | 2.6 |
Weighted average discount rate |  |  | 7.6 | % |  |  | 4.6 | %
The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2021 to the operating and finance lease liabilities recorded on the balance sheet (in thousands): Schedule of Operating and Finance Lease Liability Maturity
|  | Operating Leases |  |  | Finance Leases |
2021 (Remaining) |  | $ | 132 |  |  | $ | 64 |
2022 |  |  | 576 |  |  |  | 271 |
2023 |  |  | 560 |  |  |  | 150 |
2024 |  |  | 420 |  |  |  | 146 |
2025 |  |  | 327 |  |  |  | 146 |
2025 and thereafter |  |  | 1,260 |  |  |  | 341 |
Total undiscounted lease payments |  |  | 3,275 |  |  |  | 1,118 |
Less: Imputed interest |  |  | (754 | ) |  |  | (85 | )
Present value of lease payments |  | $ | 2,521 |  |  | $ | 1,033 |
Current portion of operating lease obligations |  | $ | 387 |  |  | $ | — |
Long-term operating lease obligations, less current portion |  | $ | 2,134 |  |  | $ | — |
Current portion of finance lease obligations |  | $ | — |  |  | $ | 257 |
Long-term finance lease obligations, less current portion |  | $ | — |  |  | $ | 776 |
Supplemental cash flow and other information related to our leases were as follows for the three and nine months ended September 30, 2021 and 2020 (in thousands): Schedule of Supplemental Cash Flow and Other Information Related to Leases
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flow used in operating leases |  | $ | 103 |  |  | $ | 111 |  |  | $ | 307 |  |  | $ | 331 |
Operating cash flow used in finance leases |  | $ | 50 |  |  | $ | 47 |  |  | $ | 85 |  |  | $ | 97 |
Financing cash flow used in finance leases |  | $ | 76 |  |  | $ | 182 |  |  | $ | 281 |  |  | $ | 411 |
ROU assets obtained in exchange for lease obligations for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance liabilities |  | $ | 323 |  |  | $ | 751 |  |  | $ | 323 |  |  | $ | 874 |
Operating liabilities |  | $ | 184 |  |  |  | — |  |  | $ | 350 |  |  | $ | — |
Reduction to ROU assets resulting from reassessment for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance liabilities |  | $ | (364 | ) |  | $ | — |  |  | $ | (364 | ) |  | $ | — |

X
- References No definition available. + Details
Name: | PESI_DisclosureLeasesAbstract
Namespace Prefix: | PESI_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | PESI_LesseeOperatingAndFinanceLeasesTextBlock
Namespace Prefix: | PESI_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration