|12 Months Ended|
Dec. 31, 2020
NOTE 17. LEASES
The Company has entered into leases for certain facilities, vehicles and other equipment. Our operating leases have remaining contractual terms of up to nine years, some of which include options to extend the leases for up to ten 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, 2020 and 2019, were as follows:
Operating lease costs were as follows:
The maturity of operating lease liabilities as of December 31, 2020 are as follows:
As of December 31, 2020, our operating leases have a weighted-average remaining lease term of 4.32 years and a weighted-average discount rate of 2.24%. Total rent expense of the Company for the year ended December 31, 2018 was $838, as determined prior to the adoption of ASC 842.
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