XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.20.4

Operating Leases: | 12 Months Ended
--- | ---
Dec. 26, 2020
Operating Leases: |
Operating Leases: | 10. Operating Leases: ​ As of December 26, 2020, the Company leases its Minnesota corporate headquarters in a facility with an operating lease that expires in December 2029. Our lease includes both lease (fixed payments including rent) and non-lease components (common area or other maintenance costs and taxes) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. The lease provides us the option to extend the lease for two additional five year periods. The lease renewal option is at our sole discretion; therefore, the renewals to extend the lease term are not included in our right of use asset and lease liabilities as they are not reasonably certain of exercise. The weighted average remaining lease term for this lease is 9.0 years and the discount rate is 5.5%. As our lease does not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company recognized $1,195,000, $1,358,000 and $1,235,000 of rent expense for the periods ended December 26, 2020, December 28, 2019 and December 29, 2018, respectively. ​ Maturities of operating lease liabilities is as follows as of December 26, 2020: ​
​ | ​ | ​ | ​
Operating Lease Liabilities expected to be recognized in |  | Amount
2021 | ​ | $ | 723,100
2022 | ​ |  | 742,900
2023 | ​ |  | 763,300
2024 | ​ |  | 784,400
2025 | ​ |  | 806,000
Thereafter | ​ |  | 3,452,600
Total lease payments | ​ | ​ | 7,272,300
Less imputed interest | ​ | ​ | (1,546,500)
Present value of lease liabilities | ​ | $ | 5,725,800
​ Of the $5.7 million operating lease liability outstanding at December 26, 2020, $0.4 million is included in Accrued liabilities in the Current liabilities section of the Consolidated Balance Sheets. ​ For leases that contain predetermined fixed escalations of the minimum rent, we recognize the related rent expense on a straight-line basis from the date we take possession of the property to the end of the initial lease term. We record any difference between the straight-line rent amounts and amounts payable under the leases as an adjustment to the amortization of the operating lease right of use asset and operating lease liabilities. ​ Cash or lease incentives received upon entering into certain leases (“tenant allowances”) are recognized on a straight-line basis as a reduction to rent from the date we take possession of the property through the end of the initial lease term. In 2019, we recorded a $2.1 million tenant allowance for non-cash landlord leasehold improvements received as a reduction to the operating lease right of use asset. The reduction in rent also causes a reduction in the amortization of the operating lease right of use asset through the end of the initial lease term. ​ The Company’s policy for leases with a term of twelve months or less is to exclude these short-term leases from our right of use asset and lease liabilities. ​ Supplemental cash flow information related to our operating leases is as follows for the periods ended December 26, 2020 and December 28, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ |  | December 26, 2020 |  | December 28, 2019
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Operating cash flow outflow from operating leases | ​ | $ | 703,700 | ​ | $ | 493,900
​ ​

X
- References No definition available. + Details
Name: | us-gaap_LesseeDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration