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Leases
6 Months Ended
Jun. 25, 2021
Leases [Abstract]  
Leases


 

NOTE 2 – LEASES

For the three- and six-month periods ended June 25, 2021 and June 26, 2020, cash paid for amounts included in the measurement of operating lease liabilities was $82 and $160 and $76 and $151, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities were $80 and $155 and $75 and $161, respectively.  The weighted-average remaining lease term was four years as of both June 25, 2021 and December 31, 2020, and the weighted-average discount rate was 2.3% and 2.6%, respectively.

For the three- and six-month periods ended June 25, 2021 and June 26, 2020, operating lease costs were $80 and $158 and $75 and $149, respectively, and variable lease costs not included in the lease liability were $15 and $29 and $15 and $30, respectively. Total lease cost for the three- and six-month periods ended June 25, 2021 and June 26, 2020 was $95 and $187 and $90 and $179, respectively. The Partnership's future undiscounted cash outflows for operating leases are summarized below as of:

 

June 25,

 

 

 

 

December 31,

 

 

2021

 

 

 

 

2020

 

2021

$

159

 

 

 

 

$

300

 

2022

 

276

 

 

 

 

 

247

 

2023

 

220

 

 

 

 

 

190

 

2024

 

154

 

 

 

 

 

125

 

2025

 

94

 

 

 

 

 

65

 

Thereafter

 

84

 

 

 

 

 

60

 

Total lease payments

 

987

 

 

 

 

 

987

 

Less: Interest

 

44

 

 

 

 

 

49

 

Total present value of lease liabilities

$

943

 

 

 

 

$

938

 

 

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