Operating and Finance Lease Right-of-Use Assets
|9 Months Ended|
Sep. 30, 2023
|Operating and Finance Lease Right-of-Use Assets||
NOTE 6. OPERATING AND FINANCE LEASE
Refer to Footnote 7 – Operating and Finance Lease
Assets of our annual report on Form
10-Kfor the year ended December 31, 2022 for a description of our leasing transactions under ASC 842.
Due to the adverse economic impact of the
COVID-19pandemic, we negotiated with our landlords in early 2020 to obtain rent concessions to improve our short-term liquidity. In accordance with the FASB’s recent Staff Q&A regarding rent concessions related to the effects of the
COVID-19pandemic, we did not apply the lease modification guidance under FASB ASC Topic 842 to rent concessions that resulted in total payments required under the modified contract were substantially the same as or less than total payments required by the original contract. For qualifying rent abatement concessions, we recorded negative lease expense for abatement during the period of relief. At December 31, 2022, $0.2 million of the deferred cash payments remained with $26,000 payable in 2023 and the remainder payable in 2024.
Supplemental balance sheet information related to leases is as follows:
The components of lease expense were as follows:
Supplemental Cash Flow
Supplemental cash flow information related to leases was as follows:
Future minimum lease payments under leases that had initial or remaining
non-cancelablelease terms in excess of one year as of September 30, 2023, 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