Leases

3 Months Ended

Mar. 29, 2024

Leases [Abstract]

Leases

NOTE 2 – LEASES

For the three-month periods ended March 29, 2024 and March 31, 2023, cash paid for amounts included in the measurement of operating lease liabilities was $86 and $83, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $105 and $108, respectively. The weighted-average remaining lease term and weighted-average discount rate were four years and 3.7%, respectively, as of both March 29, 2024 and December 31, 2023.

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:

	Three Months Ended
	March 29, 2024		March 31, 2023
Operating lease cost	$	86	$	83
Variable lease cost		17		17
Total lease cost	$	103	$	100

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

	March 29, 2024
2024	$	253
2025		296
2026		240
2027		177
2028		112
Thereafter		109
Total lease payments		1,187
Less: Interest		105
Total present value of lease liabilities	$	1,082

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