XML 25 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Leases
6 Months Ended
Jun. 26, 2020
Leases [Abstract]  
Leases

NOTE 4 – LEASES

For the three and six month periods ended June 26, 2020 and June 28, 2019, cash paid for amounts included in the measurement of operating lease liabilities was $76 and $151 and $70 and $137, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $75 and $161 and $110 and $177, respectively.  The weighted-average remaining lease term was four years as of both June 26, 2020 and December 31, 2019, and the weighted-average discount rate was 2.9% and 3.2%, respectively.

For the three and six month periods ended June 26, 2020 and June 28, 2019, operating lease costs were $75 and $149 and $70 and $136, respectively, and variable lease costs not included in the lease liability were $15 and $30 and $13 and $27, respectively. Total lease costs for the three and six month periods ended June 26, 2020 and June 28, 2019 were $90 and $179 and $83 and $163, respectively. The Partnership's future undiscounted cash outflows for operating leases are summarized below as of:

 

June 26,

 

 

 

 

December 31,

 

 

2020

 

 

 

 

2019

 

2020

$

152

 

 

 

 

$

283

 

2021

 

269

 

 

 

 

 

239

 

2022

 

214

 

 

 

 

 

183

 

2023

 

158

 

 

 

 

 

128

 

2024

 

95

 

 

 

 

 

65

 

Thereafter

 

86

 

 

 

 

 

63

 

Total lease payments

 

974

 

 

 

 

 

961

 

Less: Interest

 

67

 

 

 

 

 

63

 

Total present value of lease liabilities

$

907

 

 

 

 

$

898

 

 

While the rights and obligations for leases that have not yet commenced are not significant, the Partnership typically enters into branch office leases for new locations regularly. Given the current state of the global economy in response to the COVID-19 pandemic, the Partnership has temporarily paused entering into new branch lease arrangements.