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LEASES | 9 Months Ended
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Sep. 30, 2021
Leases |
LEASES | 13. LEASES The Company leases certain offices, facilities and equipment under operating and financing leases. Our leases have remaining terms ranging from less than 1 year to 5 years some of which contain options to extend up to 5 years. As of September 30, 2021 and 2020, assets recorded under finance leases were $1.4 million and $1.4 million, respectively, and accumulated amortization associated with finance leases were $947 and $711, respectively. As of September 30, 2021 and 2020, assets recorded under operating leases were $3.9 million and $2.1 million, respectively, and accumulated amortization associated with operating leases were $2.1 million and $1.5 million, respectively. During the three months ended September 30, 2021, the Company executed an extension of its operating lease for the manufacturing facility in Santa Fe Springs, California. After adjusting for a weighted average discount rate, the Company recognized a right-of-use asset and lease liability of approximately $1.4 million within the consolidated balance sheets. The components of the lease expense were as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Operating lease cost |  | $ | 173 |  |  | $ | 162 |  |  | $ | 456 |  |  | $ | 500 |
Finance lease cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use asset |  | $ | 62 |  |  | $ | 64 |  |  | $ | 219 |  |  | $ | 196 |
Interest on lease liabilities |  |  | 9 |  |  |  | 13 |  |  |  | 30 |  |  |  | 41 |
Total finance lease cost |  | $ | 71 |  |  | $ | 77 |  |  | $ | 249 |  |  | $ | 237 |
Other information related to leases was as follows: Supplemental Cash Flows Information
|  | September 30,
|  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flow payments for operating leases |  | $ | 449 |  |  | $ | 508 |
Operating cash flow payments for finance leases |  |  | 30 |  |  |  | 41 |
Financing cash flow payments for finance leases |  |  | 226 |  |  |  | 177 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |  |  |
Operating lease liabilities arising from obtaining right of use assets |  |  | 1,418 |  |  |  | 463 |
Capitalized lease obligations |  |  | — |  |  |  | 64 |
Weighted Average Remaining Lease Term Weighted Average Remaining Lease Term and Weighted Average Discount Rate
|  | September 30,
|  | 2021 |  | 2020
Operating leases |  | 3 years |  | 2 years
Finance leases |  | 2 years |  | 2 years
Weighted Average Discount Rate
| September 30,
| 2021 | 2020
Operating leases | 5.50 | % | 5.50 | %
Finance leases | 6.76 | % | 6.75 | %
Future minimum lease payments under non-cancellable leases as of September 30, 2021 were as follows:
| Operating |  | Finance
| Leases |  | Leases
2021 |  | 184 |  |  | 66
2022 |  | 684 |  |  | 195
2023 |  | 610 |  |  | 257
2024 |  | 446 |  |  | 21
2025 |  | 95 |  |  | —
Thereafter |  | 24 |  |  | —
Total future minimum lease payments |  | 2,043 |  |  | 539
Less imputed interest |  | (171) |  |  | (40)
Total future minmum lease payments | $ | 1,872 |  | $ | 499
Reported as of September 30, 2021:
| Operating |  | Finance
| Leases |  | Leases
Accounts payable and accrued liabilities | $ | 613 |  | $ | 194
Other long-term liabilities |  | 1,259 |  |  | 305
Total | $ | 1,872 |  | $ | 499

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