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Note 5 - Leases | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
5. | Leases
The Company has operating leases for corporate offices, copiers, and certain equipment. Its leases have remaining lease terms of 1 year to 15 years, some of which may include options to extend the leases for up to 15 years, and some of which may include options to terminate the leases within 1 year. The Company evaluates renewal terms on a lease by lease basis to determine if the renewal is reasonably certain. The amount of operating lease expense recorded in the statement of earnings for the twelve months ended December 31, 2023 was $53,906 (2022 - $49,544). Other information related to leases was as follows (in thousands, except lease term and discount rate):
Supplemental Cash Flows Information, twelve months ended December 31 |  | 2023 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 48,690 |
Right-of-use assets obtained in exchange for operating lease obligation |  | $ | 64,240 |
Weighted Average Remaining Operating Lease Term (years) |  | 6 |
Weighted Average Discount Rate |  |  | 5.4 | %
Future minimum operating lease payments under non-cancellable leases as of December 31, 2023 were as follows:
2024 |  | $ | 56,460 |
2025 |  |  | 55,997 |
2026 |  |  | 45,963 |
2027 |  |  | 32,554 |
2028 |  |  | 24,096 |
Thereafter |  |  | 63,541 |
Total future minimum lease payments |  |  | 278,611 |
Less imputed interest |  |  | (43,790 | )
Total |  |  | 234,821 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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