|12 Months Ended|
Dec. 31, 2019
NOTE 16. LEASES
The Company has entered into leases for certain facilities, vehicles and other equipment. Our operating leases have remaining contractual terms of up to six years, some of which include options to extend the leases for up to five years. Our operating lease costs are primarily related to facility leases for inventory warehousing, administration offices and vehicles. The Company’s finance leases are immaterial.
Operating lease ROU assets and liabilities as of December 31, 2019 are as follows:
Operating lease costs are as follows:
The maturity of operating lease liabilities as of December 31, 2019 are as follows:
As of December 31, 2019, our operating leases have a weighted-average remaining lease term of 2.0 years and a weighted-average discount rate of 3.97%. Total rent expense of the Company for the years ended December 31, 2018 and 2017 was $838 and $865, respectively, as determined prior to the adoption of ASC 842. Future minimum lease payments required under noncancelable operating leases that have initial or remaining noncancelable lease term in excess of one year at December 31, 2018 as determined prior to the adoption of ASC 842 are as follows:
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef