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Leases | 12 Months Ended
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Dec. 31, 2020
Leases |
Leases | 7. Leases The Company has operating leases with fixed payment terms primarily associated with buildings and warehouses. The Company's leases have remaining lease terms of less than one year s to four years , some of which include options to extend the lease for five years . Operating leases are included in Right-of-use ("ROU") assets and Other accrued liabilities and Other non-current liabilities on the Consolidated Balance Sheets. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. The Company used the applicable incremental borrowing rate at implementation date to measure lease liabilities and ROU assets. The incremental borrowing rate used by the Company was based on baseline rates and adjusted by the credit spreads commensurate with the Company ’s secured borrowing rate. At each reporting period when there is a new lease initiated, the Company will utilize its incremental borrowing rate to perform lease classification tests on lease components and to measure ROU assets and lease liabilities. The following table provides information related to the components of lease expense as of December 31: 2020 2019 Operating lease cost $ 1,430,000 $ 1,430,000 Total net lease cost $ 1,430,000 $ 1,430,000 The following table provides information related to other supplemental balance sheet information related to leases as of December 31: 2020 2019 Operating lease: Operating lease right of use assets $ 2,754,000 $ 4,484,000 Total operating lease right of use assets $ 2,754,000 $ 4,484,000 Current operating lease liabilities (A) $ 1,023,000 $ 1,304,000 Noncurrent operating lease liabilities (B) 1,670,000 3,119,000 Total operating lease liabilities $ 2,693,000 $ 4,423,000 Current operating lease liability included in "Other Current Accrued Liabilities" on the Consolidated Balance Sheet . Noncurrent operating lease liability included in "Other Non -Current Liabilities" on the Consolidated Balance Sheet. Weighted average remaining lease term (in years): Operating leases 3.5 4.0 Weighted average discount rate: Operating lease 5.9 % 4.9 % Other information related to leases as of December 31: 2020 2019 Cash Paid for amounts included in the measurement of lease liabilities Operating cash flow from operating leases (C) $ 1,455,000 $ 1,455,000 Cash flow from operating lease included in "Prepaid and other assets" on the Consolidated Statements of Cash Flows. As of December 31, 2020, maturities of lease liabilities were as follows: Operating Leases 2021 $ 1,215,000 2022 811,000 2023 706,000 2024 705,000 2025 — Total lease payments 3,437,000 Less: imputed interest (744,000) Total lease obligations 2,693,000 Less: current obligations (1,023,000) Long-term lease obligations $ 1,670,000 As of December 31, 2019, maturities of lease liabilities were as follows: Operating Leases 2020 $ 1,433,000 2021 1,174,000 2022 1,102,000 2023 1,000,000 2024 530,000 Total lease payments 5,239,000 Less: imputed interest (816,000) Total lease obligations 4,423,000 Less: current obligations (1,304,000) Long-term lease obligation $ 3,119,000

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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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