Leases

3 Months Ended

Mar. 31, 2019

Note 8 — Leases

The Company entered into operating leases for office space for its headquarter, domestic and foreign subsidiaries and sales offices. Finance leases are primarily engineering design software. Operating leases generally have remaining lease terms of 1 year to 5 years. Finance leases are generally 2 years to 3 years.

The following table provides the details of lease costs.

	Three Months Ended
	March 31, 2019
	(in thousands)
Operating lease costs:
Fixed	$	152
Variable		-
Short term		18
Finance lease costs:
Amortization of ROU asset		90
Interest		6
Total lease costs	$	266

The following table provides the details of supplemental cash flow information:

	Three Months Ended
	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	(in thousands)
Operating cash flows from operating leases	$	177
Operating cash flows from finance leases		4
Financing cash flows from financing leases		74
Total	$	255
Right-of-use assets obtained in exchange for obligations
Operating leases	$	542
Finance leases		433
Total	$	975

The following table provides the details of right-of-use assets and lease liabilities as of March 31, 2019:

	March 31, 2019
	(in thousands)
Right-of-use assets:
Operating leases	$	542
Finance leases		433
Total	$	975
Lease liabilities:
Operating leases		589
Finance leases		350
Total	$	939

The following table provided the details of future lease payments for operating and finance leases as of March 31, 2019:

Annual Fiscal Years	Operating			Finance
2019 (Remaining period)	$	319		$	310
2020		209			64
2021		92			-
Total lease payments		620			374
Less: Interest		(31	)		(24	)
Present value of lease liabilities	$	589		$	350

To following table provides the details of lease terms and discount rates as of March 31, 2019:

	March 31, 2019
Right-of-use assets:
Weighted-average remaining lease term (years)
Operating leases	2.99
Finance leases		1.20
Weighted-average discount rates:
Operating leases		5.88	%
Finance leases		6.36	%