Leases

12 Months Ended

Dec. 31, 2022

Leases

9. Leases

9. Leases

The Company leases certain equipment and buildings under operating lease arrangements. Most leases are for a fixed term and for a fixed amount. The Company is not a party to any leases that have capital improvement funding or payment increases based on any index or rate.

Future minimum payments under non-cancelable operating leases with initial or remaining terms more than one year during each of the next five fiscal years follow:

2023	$	3,059,547
2024		2,640,972
2025		1,747,019
2026		1,371,761
2027		1,008,297
	$	9,827,596

Rent expense for all operating leases was $3,299,579 in 2022 and $2,816,258 in 2021. The weighted average lease term for all operating leases is 5.7 years. The weighted average discount rate for all operating leases is 5%.