XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 11 - Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 11 – Leases: The Company primarily leases 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. The Company’s leases generally have expected lease terms of one to eight years. In the normal course of business, it is expected that the Company’s 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. As of December 31, 2023, the Company had $17.0 million of operating lease liabilities ($4.2 million in other current liabilities and $12.8 million in long-term operating lease liabilities), which represents the present value of the remaining lease payments, and $17.9 million of operating lease right-of-use assets, which includes prepaid rent of $1.6 million. As of December 31, 2022, the Company $7.0 million of operating lease liabilities ($3.1 million in other current liabilities and $3.9 million in long-term operating lease liabilities), which represents the present value of the remaining lease payments, and $9.1 million of operating lease right-of-use assets, which includes prepaid rent of $2.0 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):
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Operating lease costs |  | $ | 4,495 |  |  | $ | 4,027 |
Short-term lease costs |  |  | 609 |  |  |  | 889 |
Total lease costs |  | $ | 5,104 |  |  | $ | 4,916 |
Cash flow and noncash information related to our operating leases were as follows (in thousands):
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Operating cash flows – cash paid for operating lease liabilities |  | $ | 3,368 |  |  | $ | 2,996 |
Non-cash – Operating lease right-of-use assets obtained in exchange for new lease liabilities |  | $ | 13,908 |  |  | $ | 4,089 |
Other supplemental information related to our operating leases was as follows:
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Weighted-average remaining lease term (in years) |  |  | 4.6 |  |  |  | 2.5 |
Weighted average discount rate |  |  | 6.57 | % |  |  | 5.66 | %
Maturities of operating lease liabilities as of December 31, 2023 were as follows (in thousands):
|  | Operating Leases |
2024 |  | $ | 4,315 |
2025 |  |  | 4,243 |
2026 |  |  | 3,994 |
2027 |  |  | 3,187 |
2028 |  |  | 2,811 |
Thereafter |  |  | 1,680 |
Total lease payments |  |  | 20,230 |
Less imputed interest |  |  | 3,190 |
Present value of lease liabilities |  | $ | 17,040 |

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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration