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Leases

3 Months Ended

Mar. 31, 2021

Note 10 – Leases

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

	Three months ended
	March 31, 2021		March 31, 2020
Operating lease cost	$	116	$	116
Finance lease cost
Amortization of assets		2		2
Interest on finance lease obligations		1		1
Total net lease cost	$	119	$	119

Included in the table above, is $0.1 million for the three months ended March 31, 2021, 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, 2021						December 31, 2020
Operating leases:	Related Party		Other		Total		Related Party		Other		Total
Operating lease ROU assets	$	2,709	$	217	$	2,926	$	2,755	$	238	$	2,993

Current operating lease liabilities	$	184	$	91	$	275	$	179	$	89	$	268
Noncurrent operating lease liabilities		3,032		154		3,186		3,079		178		3,257
Total operating lease liabilities	$	3,216	$	245	$	3,461	$	3,258	$	267	$	3,525

Finance leases:	March 31, 2021			December 31, 2020
Property and equipment, at cost	$	67		$	67
Accumulated amortization		(33	)		(30	)
Property and equipment, net	$	34		$	37

Current obligations of finance leases	$	12		$	13
Finance leases, net of current obligations		29			31
Total finance lease liabilities	$	41		$	44

Weighted average remaining lease term (in years):
Operating leases		9.8			10.0
Finance leases		3.6			3.7

Weighted average discount rate:
Operating leases		5.8	%		5.8	%
Finance leases		12.6	%		13.0	%

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

	Three months ended
	March 31, 2021		March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	114	$	111
Operating cash flows from finance leases	$	1	$	1
Financing cash flows from finance leases	$	3	$	2

ROU assets obtained in exchange for lease liabilities:
Operating leases	$	3,531	$	3,507

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

Years Ending December 31st,	Operating Leases			Finance Leases
2021 (nine remaining months)	$	347		$	13
2022		466			15
2023		461			10
2024		407			5
2025		405			5
Thereafter		2,497			-
Total lease payments		4,583			48
Less amount representing interest		(1,122	)		(7	)
Total lease obligations		3,461			41
Less current portion		(275	)		(12	)
Long-term lease obligations	$	3,186		$	29