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Note 10 - Leases | 6 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 10 – Leases The Company leases several of its operating and office facilities including factories, warehouses, call centers, office space and equipment for various terms under long-term, non-cancelable operating lease agreements. A right-of-use asset represents the Company’s right to use an underlying asset for the lease term and a lease liability represents the Company’s obligation to make lease payments arising from the lease. These leases generally have expected lease terms of one to eight years. In the normal course of business, it is expected that these leases will be renewed or replaced by leases on other properties. Options to renew lease terms are included in determining the right-of-use asset and lease liability when it is reasonably certain that the Company will exercise that option. Certain of the lease agreements include rental payments adjusted periodically for inflation and generally require the Company to pay real estate taxes, insurance, and repairs. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The Company subleases certain insignificant office space to third parties. As of June 30, 2019, the Company had recognized $4.1 million of operating lease obligation ( $1.2 million in other current liabilities and $2.9 million in long-term operating lease liabilities), which represents the present value of the remaining lease payments, and $4.7 million of operating lease right-of-use assets, which represents the lease liability of $4.1 million adjusted for the prepaid rent of $0.7 million. The depreciable-life of right-of-use assets is generally limited by the expected lease term. The Company does not have any material leases, individually or in the aggregate, classified as a finance leasing arrangement. The components of lease cost were as follows (in thousands):
|  | Three Months Ended June 30, 2019 |  |  | Six Months Ended June 30, 2019 |
Lease costs: |  |  |  |  |  |  |  |
Operating lease costs |  | $ | 397 |  |  | $ | 722 |
Short-term lease costs |  |  | 97 |  |  |  | 205 |
Total lease costs, included in S&A |  |  | 494 |  |  |  | 927 |
Cash flow and noncash information related to our operating leases were as follows (in thousands):
|  | Six Months Ended June 30, 2019 |
Operating cash flows - cash paid for operating lease liabilities |  | $ | 619 |
Non-cash - Operating lease ROU assets obtained in exchange for new lease liabilities |  | $ | 514 |
Other supplemental information related to our operating leases was as follows:
|  | June 30, |
|  | 2019 |
Weighted-average remaining lease term (in years) |  |  | 3.8 |
Weighted average discount rate |  |  | 5.65 | %
Maturities of operating lease liabilities as of June 30, 2019 were as follows (in thousands):
|  | Operating |
|  | Leases |
2019 (six months) |  | $ | 671 |
2020 |  |  | 1,303 |
2021 |  |  | 979 |
2022 |  |  | 814 |
2023 |  |  | 634 |
Thereafter |  |  | 123 |
Total lease payments |  |  | 4,524 |
Less imputed interest |  |  | 462 |
Present value of lease liabilities |  | $ | 4,062 |

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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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