Leases

9 Months Ended

Sep. 27, 2024

Leases [Abstract]

Leases

NOTE 2 – LEASES

For the three- and nine-month periods ended September 27, 2024 and September 29, 2023, respectively, cash paid for amounts included in the measurement of operating lease liabilities was $88 and $261 and $85 and $253, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $96 and $295 and $117 and $344, respectively. As of September 27, 2024 and December 31, 2023, the weighted-average remaining lease term was four years for both periods and the weighted-average discount rates were 4.1% and 3.7%, 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:

	Three Months Ended				Nine Months Ended
	September 27, 2024		September 29, 2023		September 27, 2024		September 29, 2023
Operating lease cost	$	87	$	85	$	259	$	252
Variable lease cost		19		17		54		51
Total lease cost	$	106	$	102	$	313	$	303

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

	September 27, 2024
2024	$	88
2025		331
2026		278
2027		216
2028		151
Thereafter		163
Total lease payments		1,227
Less: Interest		119
Total present value of lease liabilities	$	1,108

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