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LEASES

9 Months Ended

Sep. 30, 2021

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

	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