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Note 7 - Operating Leases

3 Months Ended

Mar. 31, 2021

7.	*OPERATING LEASES*

The Company has operating leases predominantly for operating facilities. As of March 31, 2021, the remaining lease terms on our operating leases range from less than one year to less than four years. Renewal options not yet exercised and 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-month period ended March 31,
	2021		2020
Operating lease cost	$	187	$	168
Variable lease cost		19		18
Total lease cost	$	206	$	186

Supplemental cash flow information related to leases was as follows:

	Three-month period ended March 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	181	$	164
Right-of-use assets obtained in exchange for lease liabilities:	$	-	$	-

Supplemental consolidated balance sheet information related to leases was as follows:

	Balance sheet classification	March 31, 2021			December 31, 2020
Assets:
Operating lease right-of-use asset	Other noncurrent assets	$	2,031		$	2,189

Liabilities:
Current operating lease liability	Accrued expenses and other current liabilities	$	679		$	680
Operating lease liability, net of current portion	Other noncurrent liabilities		1,373			1,524
Total operating lease liability		$	2,052		$	2,204

Weighted-average remaining lease term (years)			3.1			3.3

Weighted-average discount rate			4.5	%		4.5	%

Future minimum lease payments as of March 31, 2021 are as follows:

Maturity of Operating Lease Liabilities
2021	$	544
2022		695
2023		714
2024		276
Total lease payments		2,229
Less: Imputed interest		(177	)
Present value of remaining lease payments	$	2,052