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Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases

NOTE 2 – Leases

For the year ended December 31, 2019, cash paid for amounts included in the measurement of operating lease liabilities was $283 and lease right-of-use assets obtained in exchange for new operating lease liabilities was $360.  As of December 31, 2019, the weighted-average remaining lease term was four years, and the weighted-average discount rate was 3.2%.

For the year ended December 31, 2019, operating lease cost was $280 and variable lease cost not included in the lease liability was $55. Total lease cost for the year ended December 31, 2019 was $335. The Partnership's future undiscounted cash outflows for operating leases as of December 31, 2019 are summarized below:

 

2020

$

283

 

2021

 

239

 

2022

 

183

 

2023

 

128

 

2024

 

65

 

Thereafter

 

63

 

Total lease payments

 

961

 

Less: Interest

 

63

 

Total present value of lease liabilities

$

898

 

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

Under ASC 840, Leases, the predecessor to ASC 842, rent and other lease-related expenses were $305 and $284 for the years ended December 31, 2018 and 2017, respectively. Additionally, the Partnership's portion of the long-term lease commitments that were non-cancellable as of December 31, 2018 are summarized below:

 

2019

$

182

 

2020

 

56

 

2021

 

39

 

2022

 

19

 

2023

 

9

 

Thereafter

 

10

 

Total

$

315