PlayAGS, Inc. - 10-K filing on 2022-03-10

Note 14 - Leases (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Assets and Liabilities, Lessee [Table Text Block]

				*As of December 31, 2021*				*As of December 31, 2020*
Leases (in thousands)		*Classification*
Assets
Operating leases		Operating lease assets(a)		$	12,503			$	9,763
Finance leases		Property and equipment, net(b)			760				1,300
*Total leased assets, net*				$	13,263			$	11,063

Liabilities
Current:
Operating leases		Accrued liabilities		$	2,137			$	1,867
Finance leases		Current maturities of long-term debt			540				694
Non-current:
Operating leases		Operating lease liabilities, long-term			11,871				9,497
Finance leases		Long-term debt			413				688
*Total lease liability*				$	14,961			$	12,746

Lease, Cost [Table Text Block]

				*Year Ended December 31,*
				*2021*				*2020*				*2019*
Operating lease costs (in thousands)		*Classification*
Operating lease cost - office building		Selling, general and administrative		$	2,108			$	1,519			$	1,578
Operating lease cost - R&D		Research and development			-				377				312
Operating lease cost - warehouses		Cost of gaming operations (c)			546				553				500
Total Operating Lease cost:				$	2,654			$	2,449			$	2,390

Finance lease cost
Depreciation of leased assets		Depreciation and amortization		$	744			$	784			$	649
Interest on lease liabilities		Interest expense			29				41				42
Total Finance Lease cost:					773				825				691
Total Lease Cost				$	3,427			$	3,274			$	3,081

		*As of December 31, 2021*				*As of December 31, 2020*
Lease term and discount rate
Operating
Weighted average remaining lease term (years)			5.8				6.5
Weighted average discount rate			5.4	%			5.9	%
Finance Leases
Weighted average remaining lease term (years)			1.2				1.7
Weighted average discount rate			2.2	%			2.5	%

		*Year Ended December 31,*
		*2021*				*2020*				*2019*
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows from operating leases		$	2,747			$	2,918			$	2,613
Operating cash flows from finance leases		$	29			$	41			$	42
Financing cash flows from finance leases		$	604			$	691			$	630

Lessee, Lease Liability, Maturity [Table Text Block]

		*Operating Leases*				*Financing Leases*				*Total*
Maturity of lease liabilities (in thousands)
2022		$	2,844			$	643			$	3,487
2023			2,716				260				2,976
2024			2,704				65				2,769
2025			2,715				-				2,715
2026			2,789				-				2,789
Thereafter			2,675				-				2,675
Total lease payments		$	16,443			$	968			$	17,411
Less: interest			2,435				15				2,450
Present value of lease liabilities		$	14,008			$	953			$	14,961