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Note 7 - Leases | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
( 7 ) | LEASES
As previously discussed in Note 2, we account for our leases in accordance with the guidance in ASC Topic 842, which was effective for us as of January 1, 2019. In connection with the implementation of ASC Topic 842, we recorded non-cash increases in operating lease liabilities and ROU assets of $5,197 and $4,816, respectively, as of the effective date of this guidance. We lease our offices, warehouse facilities and certain equipment under non-cancellable operating leases that expire at various dates through 2028. Total operating lease and short-term lease costs for years ended December 31, 2019 and 2018, respectively, were as follows:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Operating lease cost |  | $ | 1,476 |  |  | $ | 1,513 |
Short-term lease cost |  | $ | 51 |  |  | $ | 55 |
The following is additional information about our leases as of December 31, 2019:
Range of remaining lease terms (in years) | 0.8 | to | 8.4
Weighted average remaining lease term (in years) |  | 5.5 |
Weighted average discount rate |  | 5.0% |
Maturities of lease liabilities as of December 31, 2019 were as follows:
2020 |  | $ | 1,527 |
2021 |  |  | 1,007 |
2022 |  |  | 824 |
2023 |  |  | 834 |
2024 |  |  | 859 |
Thereafter |  |  | 766 |
Total lease payments |  | $ | 5,817 |
Less imputed interest |  |  | (721 | )
Total |  | $ | 5,096 |
Cash Flow Information Total amortization of right of use assets for the year ended December 31, 2019 was $1,251. Supplemental cash flow information related to leases for the year ended December 31, 2019 was as follows:
Non-cash increases (decreases) in operating lease liabilities and ROU assets as a result of lease modifications: |
Modification to Ambrell’s U.K. facility lease |  | $ | (486 | )
Modification to lease for facility in Mansfield, Massachusetts |  | $ | 1,811 |
Modification to Ambrell’s Netherlands facility lease |  | $ | (48 | )
The lease for Ambrell’s U.K. facility had an original term of 15 years, which extended through August 2029. The lease included the option to terminate the lease at specified points in time without penalty. We exercised this option in March 2019, and the lease expired in September 2019. At the effective date of this modification, we recorded a reduction in our ROU assets and operating lease liabilities of approximately $486. On April 8, 2019, we executed an amendment to the lease for our facility in Mansfield, Massachusetts that extended the term of the lease for an additional forty months to December 31, 2024 and expanded the amount of leased space by approximately 6,100 square feet. The current rate per square foot that is in place through August 31, 2021 ( the original expiration date of the lease) did not change. After August 31, 2021, there are predetermined fixed escalations of the rate as outlined in the amendment. As a result of this modification, we recorded an increase in our ROU assets and operating lease liabilities of approximately $1,811. During the third quarter of 2019, the lease for a portion of Ambrell’s facility in the Netherlands was modified to reduce the term of that lease to expire in September 2019 as that portion of the space was no longer needed. At the effective date of this modification, we recorded a reduction in our ROU assets and operating lease liabilities of approximately $48. Prior Period Disclosures under ASC Topic 840 (Leases) Prior to January 1, 2019, we accounted for our leases in accordance with the guidance in ASC Topic 840. Under the guidance in ASC Topic 840, total rental expense for the year ended December 31, 2018 was $1,848 which includes costs for common area maintenance, property taxes and insurance charges incurred by the landlord for the facilities which we occupy. These costs are not included in operating lease cost under the guidance in ASC Topic 842. The aggregate minimum rental commitments under the non-cancellable operating leases in effect at December 31, 2018 were as follows:
2019 |  | $ | 1,710 |
2020 |  |  | 1,612 |
2021 |  |  | 868 |
2022 |  |  | 296 |
2023 |  |  | 286 |
Thereafter |  |  | 1,421 |
Total |  | $ | 6,193 |

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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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