InfuSystem Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 10 - Leases

Note 10 - Leases

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

10.

Leases

The Company has historically entered into a number of lease agreements under which the Company is the lessee for equipment and office leases. During the year ended

December 31, 2020,

the Company entered into

four

leases for equipment.

The components of the Company's lease costs consisted of the following as of

December 31 (

in thousands):

	2020		2019
Operating lease cost	$	1,617	$	1,948
Variable lease cost		315		291
Total lease cost	$	1,932	$	2,239

Lease costs for the year ended

December 31, 2020

of approximately

$1.3

million and

$0.6

million, were recorded to G&A expenses and cost of revenues, respectively. Lease costs for the year ended

December 31, 2019

of approximately

$1.2

million and

$1.0

million, were recorded to G&A expenses and cost of revenues, respectively.

Supplemental cash flow information and non-cash activity related to the Company's leases was as follows (in thousands):

	2020		2019
Cash paid for amounts included in the measurement of lease liabilities and ROU assets:
Operating cash flow from operating leases	$	1,603	$	1,610

ROU assets obtained in exchange for lease obligations:
Operating leases	$	264	$	4,545

Reductions to ROU assets resulting from reductions to lease obligations:
Operating leases	$	-	$	22

Weighted average remaining lease terms and discount rates for the Company's leases as of

December 31, 2019

are as follows:

	2020			2019

	Years			Years
Weighted average remaining lease term:
Operating leases		7.0			7.4
	Rate			Rate
Weighted average discount rate:
Operating leases		7.8	%		7.7	%

Future maturities of lease liabilities as of

December 31, 2020

are as follows (in thousands):

	Operating Leases
2021	$	1,108
2022		1,045
2023		941
2024		949
2025		914
Thereafter		2,253
Total undiscounted lease payments		7,210
Less: Imputed interest		(2,380	)
Total lease liabilities	$	4,830