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NOTE 6 - OPERATING LEASE COMMITMENTS | 12 Months Ended
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Dec. 31, 2020
Leases, Operating [Abstract] |
OPERATING LEASE COMMITMENTS | We have commitments under non-cancelable operating leases and other agreements, primarily for factory and office space, with initial or remaining terms of one year or more as follows: For the years ending December 31:
|  | Operating Lease Commitments |
(in thousands) |  |  |
2021 |  | $ | 747 |
2022 |  |  | 331 |
2023 |  |  | 101 |
2024 |  |  | 89 |
2025 |  |  | 69 |
Thereafter |  |  | 85 |
Total |  | $ | 1,422 |
Less Imputed interest |  |  | (162 | )
Total operating lease liabilities |  | $ | 1,260 |
Cash paid for operating lease liabilities for the twelve months ended December 31, 2020 and 2019, respectively, was $770,000 and $757,000. There were three new or modified leases during the twelve months ended December 31, 2020 that are considered minor, and are accounted for in the amounts disclosed above. The following table presents supplemental balance sheet information related to leases as of December 31, 2020:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
(in thousands) |  |  |  |  |  |
Right-of-use assets (Long-term other assets) |  | $ | 1,081 |  |  | $ | 1,574 |
Lease liability-short term (Other accrued liabilities) |  | $ | 673 |  |  | $ | 678 |
Lease liability-long term (Operating lease liabilities) |  | $ | 588 |  |  | $ | 1,178 |
At December 31, 2020, the weighted average remaining lease term is 2.9 years and the weighted average discount rate used is 5%. The components of our lease expense for the twelve months ended December 31, 2020 and 2019, respectively, include operating lease costs of $692,000 and $685,000, which includes short-term lease costs of $34,000 and $32,000. Variable payments were not material, and were treated as non-lease components and were recognized in the period for which the costs occur. Our real estate facility leases are described below: During the third quarter of 2017, we amended our lease agreement for the Redmond, Washington headquarters facility, extending the lease to July 31, 2022. Previously on June 8, 2015 the lease had been amended to relocate our headquarters to a nearby building and lower the square footage to approximately 20,460. The lease base annual rental payments during 2020 and 2019 were approximately $361,000 and $351,000, respectively. In addition to the Redmond facility, approximately 24,000 square feet is leased at two foreign locations, including our sales, service, operations and engineering office located in Shanghai, China, and our German sales, service and engineering office located near Munich, Germany. We signed a lease agreement effective November 1, 2015 that extends through October 31, 2021 for a facility located in Shanghai, China. This lease is for approximately 19,400 square feet. The lease base annual rental payments during 2020 and 2019 were approximately $301,000 and $305,000, respectively. During the fourth quarter of 2016, we signed a lease agreement for a new facility located near Munich, Germany which was effective March 1, 2017 and extends through February 28, 2022 with a five year further extension to 2027. This lease is for approximately 4,895 square feet. The lease base annual rental payments during 2020 and 2019 were approximately $62,000 and $57,000, respectively.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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- References No definition available. + Details
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