Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
LEASES

NOTE 17 - LEASES

 

The Company has operating leases for office space and office equipment. The Company’s leases have remaining lease terms of one year to seven years, some of which include options to extend the lease term for up to five years.

 

The Company has lease arrangements which are classified as short-term in nature. These leases meet the criteria for operating lease classification. Lease costs associated with the short-term leases are included in selling, general and administrative expenses on the Company’s condensed consolidated statements of operations during the three- and six- months ended June 30, 2020 and 2021.

 

Components of lease expense are as follows:

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2020     2021     2020     2021  
Short term lease cost:   $ 164     $ 177     $ 293     $ 355  

 

Supplemental cash flow information and non-cash activity related to our operating leases are as follows:

 

    Six Months Ended June 30,  
    2020     2021  
Non-cash activity:                
Right-of-use assets obtained in exchange for lease obligations   $ 2,259     $ 1,111  

 

Weighted-average remaining lease term and discount rate for our operating leases are as follows:

 

    June 30, 2021  
       
Weighted-average remaining lease term (in years)     3.8  
Weighted-average discount rate     4.4 %

 

Scheduled maturities of operating lease liabilities outstanding as of June 30, 2021 are as follows:

 

      1  
Year ending December 31:        
July - December 2021   $ 1,409  
2022     2,493  
2023     2,147  
2024     1,659  
2025     1,640  
Thereafter     1,518  
Total lease payments     10,866  
Less: Imputed interest     (1,260 )
Present value of lease liabilities   $ 9,606