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Leases
 12 Months Ended
Dec. 25, 2021
Leases  
Leases

3. Leases

 

The Company enters into operating leases primarily for manufacturing, engineering, research, administration and sales facilities, and information technology (“IT”) equipment. At December 25, 2021 and December 26, 2020, the Company did not have any finance leases. Almost all of our future lease commitments, and related lease liability, relate to the Company’s facility leases. Some of the Company’s leases include options to extend or terminate the lease.

 

   2021    2020  
Operating lease cost  $1,131,998      1,155,967  

 

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

 

At December 25, 2021, the Company’s future lease payments under non-cancellable leases were as follows:

 

    2021 
2022   915,661 
2023   858,941 
2024   769,923 
2025   604,000 
2026   604,000 
Thereafter   805,333 
Total future lease payments   4,557,858 
Less imputed interest   (748,418)
Total  $3,809,440 

 

Supplemental cash flow information related to leases was as follows:

 

   2021    2020  
Cash paid for amounts included in the measurement of operating lease liabilities  $1,157,060     1,196,386  

 

Other information related to leases was as follows:

 

   2021    2020  
Weighted Average Discount Rate—Operating Leases   5.89%     6.15 %
Weighted Average Remaining Lease Term—Operating Leases (in years)   5.71      2.22