XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Investment in Leasing Operations: | 9 Months Ended
--- | ---
Sep. 24, 2022
Investment in Leasing Operations: |
Investment in Leasing Operations: | ​ 5. Investment in Leasing Operations: ​ In May 2021, the Company made the decision to no longer solicit new leasing customers and will pursue an orderly run-off for its leasing portfolio. ​ Investment in leasing operations consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 24, 2022 |  | December 25, 2021
Direct financing and sales-type leases: | ​ | ​ | ​ | ​ | ​ | ​
Minimum lease payments receivable | ​ | $ | 1,059,600 | ​ | $ | 3,387,500
Estimated unguaranteed residual value of equipment | ​ |  | 528,300 | ​ |  | 1,316,100
Unearned lease income, net of initial direct costs deferred | ​ |  | (140,400) | ​ |  | (418,100)
Security deposits | ​ |  | (566,200) | ​ |  | (1,122,500)
Total investment in direct financing and sales-type leases | ​ |  | 881,300 | ​ |  | 3,163,000
Allowance for credit losses | ​ |  | (18,400) | ​ |  | (63,600)
Net investment in direct financing and sales-type leases | ​ |  | 862,900 | ​ |  | 3,099,400
Operating leases: | ​ | ​ | ​ | ​ | ​ | ​
Operating lease assets | ​ |  | 687,700 | ​ |  | 626,200
Less accumulated depreciation and amortization | ​ |  | (647,100) | ​ |  | (605,700)
Net investment in operating leases | ​ |  | 40,600 | ​ |  | 20,500
Total net investment in leasing operations | ​ | $ | 903,500 | ​ | $ | 3,119,900
​ As of September 24, 2022, the $0.9 million total net investment in leases consists of $0.8 million classified as current and $0.1 million classified as long-term. As of December 25, 2021, the $3.1 million total net investment in leases consists of $2.9 million classified as current and $0.2 million classified as long-term. ​ As of September 24, 2022, there were no customers with leased assets greater than 10% of the Company’s total assets. ​ Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows for the remainder of fiscal 2022 and the full fiscal years thereafter as of September 24, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Direct Financing and Sales-Type Leases |
​ |  | Minimum Lease |  | Income |
Fiscal Year | ​ | Payments Receivable | ​ | Amortization |
2022 | ​ | $ | 519,300 | ​ | $ | 85,000 | ​
2023 | ​ | ​ | 536,800 | ​ | ​ | 55,300 | ​
2024 | ​ |  | 3,500 | ​ |  | 100 | ​
​ | ​ | $ | 1,059,600 | ​ | $ | 140,400 | ​
​ The activity in the allowance for credit losses for leasing operations during the first nine months of 2022 and 2021, respectively, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 24, 2022 |  | September 25, 2021 |
Balance at beginning of period | ​ | $ | 63,600 | ​ | $ | 270,200 | ​
Provisions charged to expense | ​ |  | (46,600) | ​ |  | (167,300) | ​
Recoveries | ​ |  | 1,400 | ​ |  | — | ​
Balance at end of period | ​ | $ | 18,400 | ​ | $ | 102,900 | ​
​ The Company’s investment in direct financing and sales-type leases (“Investment In Leases”) and allowance for credit losses by loss evaluation methodology are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 24, 2022 | ​ | December 25, 2021
​ |  | Investment |  | Allowance for |  | Investment |  | Allowance for
​ | ​ | In Leases | ​ | Credit Losses | ​ | In Leases | ​ | Credit Losses
Collectively evaluated for loss potential | ​ | $ | 881,300 | ​ | $ | 18,400 | ​ | $ | 3,163,000 | ​ | $ | 63,600
Individually evaluated for loss potential | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total | ​ | $ | 881,300 | ​ | $ | 18,400 | ​ | $ | 3,163,000 | ​ | $ | 63,600
​ The Company’s key credit quality indicator for its investment in direct financing and sales-type leases is the status of the lease, defined as accruing or non-accrual. Leases that are accruing income are considered to have a lower risk of loss. Non-accrual leases are those that the Company believes have a higher risk of loss. The following table sets forth information regarding the Company’s accruing and non-accrual leases. Delinquent balances are determined based on the contractual terms of the lease. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 24, 2022
​ |  | 0-60 Days |  | 61-90 Days |  | Over 90 Days |  | ​ | ​ |  | ​ | ​
​ | ​ | Delinquent | ​ | Delinquent | ​ | Delinquent and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | and Accruing | ​ | and Accruing | ​ | Accruing | ​ | Non-Accrual | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total investment in leases | ​ | $ | 881,300 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 881,300
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 25, 2021
​ |  | 0-60 Days |  | 61-90 Days |  | Over 90 Days |  | ​ | ​ |  | ​ | ​
​ | ​ | Delinquent | ​ | Delinquent | ​ | Delinquent and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | and Accruing | ​ | and Accruing | ​ | Accruing | ​ | Non-Accrual | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total investment in leases | ​ | $ | 3,163,000 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 3,163,000
​ ​ The Company leases high-technology and other business-essential equipment to its leasing customers. Upon expiration of the initial term or extended lease term, depending on the structure of the lease, the customer may return the equipment, renew the lease for an additional term, or purchase the equipment. Due to the uncertainty of such outcome at the end of the lease term, the lease as recorded at commencement represents only the current terms of the agreement. As a lessor, the Company’s leases do not contain non-lease components. The residual values reflect the estimated amounts to be received at lease termination from sales or other dispositions of leased equipment to unrelated parties. The leased equipment residual values are based on the Company’s best estimate. The Company’s risk management strategy for its residual value includes the contractual obligations of its customers to maintain, service, and insure the leased equipment, the use of third party remarketers as well as the analytical review of historical asset dispositions. ​ Leasing income as presented on the Consolidated Condensed Statements of Operations consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | Nine Months Ended
​ |  | September 24, 2022 |  | September 25, 2021 |  | September 24, 2022 |  | September 25, 2021
Interest income on direct financing and sales-type leases | ​ | $ | 153,500 | ​ | $ | 362,200 | ​ | $ | 637,300 | ​ | $ | 1,464,700
Selling profit (loss) at commencement of sales-type leases | ​ |  | — | ​ |  | 164,300 | ​ |  | 1,298,000 | ​ |  | 1,594,300
Operating lease income | ​ | ​ | 651,900 | ​ | ​ | 436,700 | ​ | ​ | 1,562,000 | ​ | ​ | 1,397,500
Income on sales of equipment under lease | ​ | ​ | 865,900 | ​ | ​ | 988,500 | ​ | ​ | 1,798,000 | ​ | ​ | 3,214,000
Other | ​ | ​ | 90,800 | ​ | ​ | 314,500 | ​ | ​ | 550,500 | ​ | ​ | 681,300
Leasing income | ​ | $ | 1,762,100 | ​ | $ | 2,266,200 | ​ | $ | 5,845,800 | ​ | $ | 8,351,800
​

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

X
- Definition The entire disclosure for lessor entity's leasing arrangements including direct financing and sales-type leases and operating leases. + References No definition available. + Details
Name: | wina_LeasingOperationsLessorTextBlock
Namespace Prefix: | wina_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration