Operating Lease Liabilities

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Operating Lease Liabilities

NOTE 10 – OPERATING LEASE LIABILITIES:

The current and noncurrent portions of the Corporation’s operating lease arrangements as of December 31, 2022 and 2021 were as follows:

	2022		2021
Operating lease liabilities – current portion	$	635	$	641
Noncurrent operating lease liabilities		2,886		3,415
Total operating lease liabilities	$	3,521	$	4,056

Future operating lease payments as of December 31, 2022 were as follows:

2023	$	647
2024		589
2025		342
2026		176
2027		141
2028 and thereafter		3,417
Total undiscounted payments		5,312
Less: amount representing interest		(1,791	)
Present value of net minimum lease payments	$	3,521

At December 31, 2022 and 2021, the weighted-average remaining lease term approximated 7.86 years and 8.76 years, respectively, and the weighted-average discount rate approximated 3.97% and 4.66%, respectively.

Cash paid for amounts included in the measurement of operating lease liabilities totaled $644 and $671 for the years ended December 31, 2022 and 2021, respectively, and was classified as operating cash flows in the consolidated statements of cash flows. The components of lease cost for the years ended December 31, 2022 and 2021, were as follows:

	2022		2021
Short-term operating lease costs	$	15	$	29
Long-term operating lease costs		629		642
Total operating lease costs	$	644	$	671