XML 26 R16.htm IDEA: XBRL DOCUMENT

Operating Leases:

3 Months Ended

Mar. 26, 2022

Operating Leases:

Operating Leases:

9. Operating Leases:

As of March 26, 2022, 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 7.75 years and the discount rate is 5.5%. The Company recognized $303,700 and $300,900 of operating lease costs for the periods ended March 26, 2022 and March 27, 2021, respectively.

Maturities of operating lease liabilities is as follows for the remainder of fiscal 2022 and full fiscal years thereafter as of March 26, 2022:


Operating Lease Liabilities expected to be recognized in		Amount
2022		$	558,900
2023			763,300
2024			784,400
2025			806,000
2026			828,200
Thereafter			2,624,300
Total lease payments			6,365,100
Less imputed interest			(1,188,200)
Present value of lease liabilities		$	5,176,900

Of the $5.2 million operating lease liability outstanding at March 26, 2022, $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 March 26, 2022:


		Three Months Ended
		March 26, 2022			March 27, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow outflow from operating leases		$	184,100		$	179,100