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Operating Leases:

6 Months Ended

Jun. 26, 2021

Operating Leases:

Operating Leases:

10. Operating Leases:

As of June 26, 2021, the Company leases its Minnesota corporate headquarters in a facility with an operating lease that expires in December 2029. The remaining lease term for this lease is 8.5 years and the discount rate is 5.5%. The Company recognized $580,000 and $597,400 of rent expense for the periods ended June 26, 2021 and June 27, 2020, respectively.

Maturities of operating lease liabilities is as follows for the remainder of fiscal 2021 and full fiscal years thereafter as of June 26, 2021:


Operating Lease Liabilities expected to be recognized in		Amount
2021		$	364,800
2022			742,900
2023			763,300
2024			784,400
2025			806,000
Thereafter			3,452,600
Total lease payments			6,914,000
Less imputed interest			(1,391,200)
Present value of lease liabilities		$	5,522,800

Of the $5.5 million operating lease liability outstanding at June 26, 2021, $0.5 million is included in Accrued liabilities in the Current liabilities section of the Consolidated Condensed Balance Sheets.

Supplemental cash flow information related to our operating leases is as follows for the period ended June 26, 2021:


		Six Months Ended
		June 26, 2021			June 27, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow outflow from operating leases		$	358,300		$	348,600