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Note 12 - Leases | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
12. |  | Leases
The Company has noncancelable operating leases for office, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2024. As discussed in Footnote 1, the Company adopted ASC 842 as of January 1, 2019, using a current period adjustment method. In accordance with this method, the Company recognized a right of use asset of $9.4 million and an operating lease liability of $11.7 million as of January 1, 2019. As a result of using the current period adjustment method, the lease expense for the year ended December 31, 2019 and 2018 was recognized under ASC 842, and ASC 840, the previous standard, respectively. The components of lease expense for the year ended December 31, 2019 are as follows:
|  | Year Ended
|  | December 31, 2019
|  | (in thousands)
Operating lease cost |  | $ | 2,084 |
Short term lease cost |  |  | 245 |
Sublease income |  |  | (429 | )
Total lease cost |  | $ | 1,900 |
Supplemental cash flow information related to the Company’s operating leases was as follows:
|  | Year Ended
|  | December 31, 2019
|  | (in thousands)
Cash paid for amounts included in the measurement of lease liabilities: |  | $ | 2,530 |
Right-of-use assets obtained in exchange for lease obligations: |  | $ | 177 |
Supplemental balance sheet information related to the Company’s operating leases was as follows:
|  | December 31, 2019
|  | (in thousands)
Operating lease right-of use assets |  | $ | 8,463 |
Current portion, operating lease liabilities |  | $ | 2,424 |
Operating lease liabilities, long term |  |  | 8,224 |
Total operating lease liabilities |  | $ | 10,648 |
Weighted average remaining lease term (in years) |  |  | 8.1 |
Weighted average discount rate |  |  | 9.2 | %
Since most of the Company’s leases do not provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at December 31, 2019, are as follows:
|  | Operating
|  | Leases
|  | (in thousands)
2020 |  | $ | 2,426 |
2021 |  |  | 1,945 |
2022 |  |  | 1,862 |
2023 |  |  | 1,832 |
2024 |  |  | 1,587 |
Thereafter |  |  | 5,889 |
Total lease payments |  |  | 15,541 |
Less interest |  |  | (4,893 | )
Total operating lease liabilities |  | $ | 10,648 |
As presented in our 2018 Form 10 -K, the future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at December 31, 2018 were:
|  | Operating
|  | Leases
|  | (in thousands)
2019 |  | $ | 2,250 |
2020 |  |  | 2,247 |
2021 |  |  | 1,987 |
2022 |  |  | 1,966 |
2023 |  |  | 1,990 |
Thereafter |  |  | 7,559 |
Net minimum lease payments |  | $ | 17,999 |
Total rent expense was $3.2 million and $1.8 million for the year ended December 31, 2018 and 2017, respectively.

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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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