XML 23 R13.htm IDEA: XBRL DOCUMENT

Note 6 - Leases

9 Months Ended

Sep. 30, 2023

6.	Leases

The Company has noncancelable operating leases for offices, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030.

The components of lease expense for the three and nine months ended September 30, 2023 and 2022, are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2023			2022			2023			2022
Operating lease cost	$	491		$	486		$	1,517		$	1,483
Short-term lease cost		19			58			150			180
Sublease income		(25	)		(25	)		(76	)		(76	)
Total lease cost	$	485		$	519		$	1,591		$	1,587

Supplemental cash flow information related to the Company's operating leases is as follows:

	Nine Months Ended September 30,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities	$	1,764	$	1,759
Right-of-use assets obtained in exchange for lease obligations		277		248

Supplemental balance sheet information related to the Company’s operating leases are as follows:

(in thousands)	September 30, 2023			December 31, 2022
Operating lease right-of-use assets	$	5,061		$	5,816

Current portion, operating lease liabilities	$	2,125		$	2,135
Operating lease liabilities, long-term		4,418			5,282
Total operating lease liabilities	$	6,543		$	7,417

Weighted average remaining lease term (years)		5.8			6.2
Weighted average discount rate		9.4	%		9.4	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at September 30, 2023, are as follows:

Year Ending December 31,
(in thousands)
2023 (remainder of the year)	$	550
2024		1,909
2025		1,155
2026		1,052
2027		1,046
Thereafter		2,963
Total lease payments		8,675
Less imputed interest		(2,132	)
Total operating lease liabilities	$	6,543