Operating Lease Right of Use Assets

12 Months Ended

Dec. 31, 2022

Operating Lease Right Of Use Asset [Abstract]

Operating Lease Right of Use Assets

NOTE 5 – OPERATING LEASE RIGHT-OF-USE ASSETS:

The Corporation leases certain factory and office space and equipment. Additionally, the manufacturing facilities of one of the Corporation’s cast roll joint ventures in China are located on land leased by the joint venture from the other partner. The land lease commenced in 2007, the date the joint venture was formed, and continues through 2054, the expected end date of the joint venture,

and includes variable lease payment provisions based on the land standard price prevailing in Taiyuan, China, where the joint venture is located.

Right-of-use assets associated with operating leases as of December 31, 2022 and 2021 were comprised of the following:

	2022			2021
Land	$	2,729		$	2,928
Buildings		1,945			1,953
Machinery and equipment		690			511
Other		367			429
		5,731			5,821
Accumulated amortization		(2,209	)		(1,765	)
Operating lease right-of-use assets, net	$	3,522		$	4,056