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Note 5 - Leases | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Lease Disclosure [Text Block] | NOTE 5. LEASES We have operating leases for certain manufacturing sites, office space, and equipment. Most leases include the option to renew, with renewal terms that can extend the lease term from one to five years or more. Right-of-use lease assets and lease liabilities are recognized at the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods we are reasonably certain to exercise. Our leases do not contain any material residual value guarantees or material restrictive covenants. At September 30, 2023, we do not have material lease commitments that have not commenced. The components of lease expense were as follows:
|  | Three Months Ended September 30, |  |  | Three Months Ended September 30, |
Lease Cost |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 576 |  |  | $ | 572 |
Finance lease interest cost |  |  | 9 |  |  |  | 14 |
Finance lease amortization expense |  |  | 182 |  |  |  | 182 |
Total lease cost |  | $ | 767 |  |  | $ | 768 |
|  | Nine Months Ended September 30, |  |  | Nine Months ended September 30, |
Lease Cost |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 1,735 |  |  | $ | 1,731 |
Finance lease interest cost |  |  | 32 |  |  |  | 50 |
Finance lease amortization expense |  |  | 546 |  |  |  | 547 |
Total lease cost |  | $ | 2,313 |  |  | $ | 2,328 |
Supplemental balance sheet information related to leases was as follows:
| Balance Sheet Location |  | September 30, 2023 |  |  | December 31, 2022 |
Assets |  |  |  |  |  |  |  |  |
Operating lease assets | Operating lease assets |  | $ | 6,955 |  |  | $ | 7,850 |
Finance lease assets | Property, Plant and Equipment |  |  | 817 |  |  |  | 1,363 |
Total leased assets |  | $ | 7,772 |  |  | $ | 9,213 |
Supplemental cash flow information related to leases was as follows:
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |
Operating leases |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 1,381 |  |  | $ | 1,279 |
Maturities of lease liabilities were as follows:
|  | Operating Leases |  |  | Finance Leases |  |  | Total |
Remaining 2023 |  | $ | 434 |  |  | $ | 108 |  |  | $ | 542 |
2024 |  |  | 1,514 |  |  |  | 379 |  |  |  | 1,893 |
2025 |  |  | 1,265 |  |  |  | 106 |  |  |  | 1,371 |
2026 |  |  | 1,227 |  |  |  | 107 |  |  |  | 1,334 |
2027 |  |  | 1,256 |  |  |  | - |  |  |  | 1,256 |
Therafter |  |  | 5,817 |  |  |  | - |  |  |  | 5,817 |
Total lease payments |  | $ | 11,513 |  |  | $ | 700 |  |  | $ | 12,213 |
Less: Interest |  |  | (3,682 | ) |  |  | (38 | ) |  |  | (3,720 | )
Present value of lease liabilities |  | $ | 7,831 |  |  | $ | 662 |  |  | $ | 8,493 |
The lease term and discount rate at September 30, 2023 were as follows:
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  |  | 8.7 |
Finance leases |  |  | 2.0 |
Weighted-average discount rate |  |  |  |
Operating leases |  |  | 7.8 | %
Finance leases |  |  | 5.3 | %

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