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Note 9 - Operating Leases
9 Months Ended
Sep. 29, 2019
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]
9.
     
OPERATING LEASES
 
The Company has operating leases predominantly for operating facilities. As of
September 29, 2019,
the remaining lease terms on our operating leases range from less than
one
year to approximately
5
years. Renewal options to extend our leases have been exercised. Termination options are
not
reasonably certain of exercise by the Company. There is
no
transfer of title or option to purchase the leased assets upon expiration. There are
no
residual value guarantees or material restrictive covenants.
 
The components of lease expense for the current and prior-year comparative periods were as follows:
 
   
Three Months Ended
   
Nine
Months Ended
 
   
September 29,
2019
   
September 30,
2018
   
September 29,
2019
   
September 30,
2018
 
Operating lease cost
  $
168
    $
145
    $
459
    $
445
 
Variable lease cost
   
21
     
21
     
63
     
69
 
Total lease cost
  $
189
    $
166
    $
522
    $
514
 
 
Supplemental cash flow information related to leases was as follows:
 
   
Nine
Months Ended
 
   
September 29
,
2019
   
September 30
,
2018
 
Cash paid for amounts included in the measurement of lease liabilities:
               
Operating cash flows from operating leases
  $
447
    $
457
 
Right-of-use assets obtained in exchange for lease liabilities:
  $
1,586
    $
-
 
 
Supplemental balance sheet information related to leases was as follows:
 
   
Balance Sheet Classification
 
September 29
,
2019
   
December 31,
2018
 
Assets:
                   
Operating lease right-of-use asset
 
Other noncurrent assets
  $
1,989
    $
805
 
                     
Liabilities:
                   
Current operating lease liability
 
Accrued expenses and other current liabilities
  $
600
    $
439
 
Operating lease liability, net of current portion
 
Other noncurrent liabilities
   
1,387
     
376
 
Total operating lease liability  
 
  $
1,987
    $
815
 
                     
Weighted-average remaining lease term (years)  
 
   
3.9
     
2.1
 
                     
Weighted-average discount rate  
 
   
4.5
%    
4.5
%
 
Future minimum lease payments as of
September 29, 2019
are as follows:
 
Maturity of Operating Lease Liabilities
 
 
 
 
2019
  $
163
 
2020
   
673
 
2021
   
459
 
2022
   
347
 
2023
   
356
 
Thereafter
   
178
 
Total lease payments
   
2,176
 
Less: Imputed interest
   
(189
)
Present value of remaining lease payments
  $
1,987
 
 
In
July 2019,
the Company entered into a
five
-year agreement to extend the operating lease term of its Shenzhen facility.