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Leases

3 Months Ended

Mar. 31, 2020

Note 11 – Leases

The components of lease expense were as follows (amounts in thousands):

	Three months ended
	March 31, 2020		March 31, 2019
Operating lease cost	$	116	$	120
Finance lease cost
Amortization of assets		2		2
Interest on finance lease obligations		1		2
Total net lease cost	$	119	$	124

Included in the table above, is $92,000 for the three months ended March 31, 2020, of operating lease cost for our corporate headquarters. This space is being leased from The Move, LLC. Our CEO and President, each a related party to WFCF, have a 24.3% jointly-held ownership interest in The Move, LLC.

Supplemental balance sheet information related to leases was as follows (amounts in thousands):

	March 31, 2020						December 31, 2019
Operating leases:	Related Party		Other		Total		Related Party		Other		Total
Operating lease ROU assets	$	2,889	$	296	$	3,185	$	2,933	$	314	$	3,247

Current operating lease liabilities	$	164	$	83	$	247	$	158	$	81	$	239
Noncurrent operating lease liabilities		3,216		244		3,460		3,260		266		3,526
Total operating lease liabilities	$	3,380	$	327	$	3,707	$	3,418	$	347	$	3,765

	March 31, 2020			December 31, 2019
Finance leases:
Property and equipment, at cost	$	43		$	43
Accumulated amortization		(24	)		(22	)
Property and equipment, net	$	19		$	21

Current obligations of finance leases	$	9		$	8
Finance leases, net of current obligations		19			21
Total finance lease liabilities	$	28		$	29

Weighted average remaining lease term (in years):
Operating leases		10.7			11.0
Finance leases		2.8			3.0

Weighted average discount rate:
Operating leases		5.8	%		5.8	%
Finance leases		20.9	%		20.8	%

Supplemental cash flow and other information related to leases was as follows (amounts in thousands):

	Three months ended
	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	111	$	100
Operating cash flows from finance leases	$	1	$	2
Financing cash flows from finance leases	$	2	$	1

ROU assets obtained in exchange for lease liabilities:
Operating leases	$	3,507	$	3,513

Maturities of lease liabilities were as follows (amounts in thousands):

Years Ending December 31st,	Operating Leases			Finance Leases
2020 (nine remaining months)	$	338		$	10
2021		462			12
2022		466			10
2023		461			5
2024		407			-
Thereafter		2,901			-
Total lease payments		5,035			37
Less amount representing interest		(1,328	)		(9	)
Total lease obligations		3,707			28
Less current portion		(247	)		(9	)
Long-term lease obligations	$	3,460		$	19