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Note 8 - Leases

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Lessee, Operating Leases and Finance Leases [Text Block]

8.	Leases

The components of lease expense and other information are as follows:

		For the Three Months Ended								For the Nine Months Ended
		September 30, 2020				September 30, 2019				September 30, 2020				September 30, 2019
Amortization of right-of-use assets		$	50			$	-			$	136			$	-
Interest on finance lease liabilities			7				-				22				-
Finance lease expense		$	57			$	-			$	158			$	-
Operating lease expense			590				525				1,759				1,568
Short-term lease expense			-				-				-				6
Variable lease expense			67				43				204				155
Total lease expense		$	714			$	568			$	2,121			$	1,729

		For the Three Months Ended								For the Nine Months Ended
		September 30, 2020				September 30, 2019				September 30, 2020				September 30, 2019
Weighted Average Remaining Lease Term (in years)
Operating leases			15.9				17.1				15.9				17.1
Financing leases			3.3				-				3.3				-
Weighted Average Discount Rate
Operating leases			4.1	%			4.1	%			4.1	%			4.1	%
Financing leases			5.0	%			-				5.0	%			-
Other information
Operating cash flows from operating leases		$	603			$	488			$	1,739			$	1,482
Operating cash flows from financing leases		$	59			$	-			$	110			$	-

Future commitments due under these lease agreements as of September 30, 2020 are as follows:

Years ended December 31,		Operating Leases				Financing Leases				Total
2020 (Remaining 3 months)		$	598			$	59			$	657
2021			2,304				170				2,474
2022			2,240				166				2,406
2023			2,123				160				2,283
2024			2,059				44				2,103
2025			1,924				-				1,924
Thereafter			19,450				-				19,450
Present value adjustment			(8,103	)			(44	)			(8,147	)
Present value of lease payments			22,595				555				23,150
Less current portion included in accrued expenses and other current liabilities			(1,463	)			(164	)			(1,627	)
Total lease liabilities		$	21,132			$	391			$	21,523