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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | I. Leases We lease certain manufacturing and office space and equipment. We determine if an arrangement is a lease at inception. A contract is or contains a lease if the contract conveys the right to control the use of identified property, plant or equipment (an identified asset) for a period of time in exchange for consideration. Amounts associated with operating leases, which are not short-term, are included in right-of-use lease assets, other accrued expenses and long-term lease liabilities in our Consolidated Balance Sheets. Right-of-use lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our incremental borrowing rate at the lease commencement date in determining the present value of lease payments. Short-term leases, leases with an initial term of 12 months or less, are not recorded in the Consolidated Balance Sheets; we recognize lease expense for these short-term leases on a straight-line basis over the lease term. The Company leases certain property and equipment, including warehousing, and sales and distribution equipment, under operating leases with terms that range from one to five years. Certain of these leases have one or more options to renew, with renewal terms that can extend the lease term from one to 10 years or more, and the exercise of lease renewal options under these leases is at our sole discretion. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. During the year ended December 31, 2020, we renewed our leases on our facilities in India, resulting in the addition of $188,000 in right-of-use lease assets in exchange for operating lease liabilities. Total operating leases costs amounted to $611,000 and $564,000 for the years ended December 31, 2020 and 2019, respectively. Our total lease obligation is $422,000 of which the current portion of $129,000 is included in other accrued expenses on the consolidated balance sheet at December 31, 2019. Future minimum lease payment obligations under operating leases are as follows (in thousands):
|  | 2020 |  |
2021 |  | $ | 137 |  |
2022 |  |  | 112 |  |
2023 |  |  | 112 |  |
2024 |  |  | 112 |  |
2025 |  |  | 13 |  |
Total lease payments |  |  | 486 |  |
Less: interest |  |  | (64 | ) |
Total lease payments |  | $ | 422 |  |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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