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Leases
9 Months Ended
Sep. 24, 2021
Leases [Abstract]  
Leases

NOTE 2 – LEASES

For the three- and nine-month periods ended September 24, 2021 and September 25, 2020, cash paid for amounts included in the measurement of operating lease liabilities was $79 and $239 and $77 and $228, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $85 and $240 and $85 and $246, respectively. The weighted-average remaining lease term was four years as of both September 24, 2021 and December 31, 2020, and the weighted-average discount rate was 2.2% and 2.6%, respectively.

For the three- and nine-month periods ended September 24, 2021 and September 25, 2020, operating lease costs were $80 and $238 and $77 and $226, respectively, and variable lease costs not included in the lease liability were $15 and $44 and $12 and $42, respectively. Total lease cost for the three- and nine-month periods ended September 24, 2021 and September 25, 2020 was $95 and $282 and $89 and $268, respectively. The Partnership's future undiscounted cash outflows for operating leases are summarized below as of:

 

September 24,

 

 

December 31,

 

 

2021

 

 

2020

 

2021

$

83

 

 

$

300

 

2022

 

291

 

 

 

247

 

2023

 

235

 

 

 

190

 

2024

 

169

 

 

 

125

 

2025

 

109

 

 

 

65

 

Thereafter

 

103

 

 

 

60

 

Total lease payments

 

990

 

 

 

987

 

Less: Interest

 

42

 

 

 

49

 

Total present value of lease liabilities

$

948

 

 

$

938

 

 

While the rights and obligations for leases that have not yet commenced are not significant, the Partnership regularly enters into new branch office leases.