Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

NOTE 2 – LEASES

For the years ended December 31, 2023 and 2022, cash paid for amounts included in the measurement of operating lease liabilities was $338 and $326, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities was $437 and $330, respectively. The weighted-average remaining lease term was four years as of both December 31, 2023 and 2022, and the weighted-average discount rate was 3.7% and 2.6%, respectively.

The following table summarizes the Partnership's operating lease cost, variable lease cost not included in the lease liability and total lease cost for the years ended December 31:

	2023		2022		2021
Operating lease cost	$	337	$	328	$	319
Variable lease cost		67		61		58
Total lease cost	$	404	$	389	$	377

The Partnership's future undiscounted cash outflows for operating leases are summarized below as of:

	December 31, 2023
2024	$	328
2025		277
2026		220
2027		157
2028		92
Thereafter		89
Total lease payments		1,163
Less: Interest		97
Total present value of lease liabilities	$	1,066

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