Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases

Schedule of Lease Cost Recognized in Earnings

	Years Ended December 31
	2022			2021
Lease Cost
Finance lease cost:
Amortization of right-of-use assets (1)	$	30,163		$	41,925
Interest on lease liabilities (2)		2,773			4,713
Operating lease cost (3)		4,498,894			4,896,315
Short-term lease cost (3)(4)		1,135,003			167,551
Sublease income (3)		(209,455	)		(275,038	)
Total lease cost	$	5,457,378		$	4,835,466
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,250,630		$	4,697,819
Operating cash flows from finance leases		2,773			4,713
Financing cash flows from finance leases		31,685			42,184
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	2,054,534		$	5,216,048
Finance leases		-			-
Weighted-average remaining lease term (in years)
Finance leases		1.25			2.07
Operating leases		3.46			6.04
Weighted-average discount rate
Finance leases		5.78	%		5.74	%
Operating leases		4.50	%		4.14	%

(1) Included in Depreciation on property and equipment on the consolidated statements of earnings

(2) Included in Interest expense on the consolidated statements of earnings

(3) Included in Rent and rent related expenses on the consolidated statements of earnings

(4) Includes leases with a term of 12 months or less

Schedule of Future Minimum Rental Payments for Finance Leases and Operating Leases

The following table presents the maturity analysis of the Company’s lease liabilities.

	Finance Leases			Operating Leases
Lease payments due in:
2023	$	27,220		$	3,929,227
2024		4,354			3,328,744
2025		692			2,166,880
2026		-			1,454,848
2027		-			340,112
Thereafter		-			324,548
Total undiscounted lease payments		32,266			11,544,359
Less: Discount on cash flows		(1,184	)		(947,888	)
Present value of lease liabilities	$	31,082		$	10,596,471

Schedule of Right-of-Use Assets and Lease Liabilities

The following table presents the Company’s right-of-use assets and lease liabilities.

		Year Ended December 31
	Balance Sheet Location	2022			2021
Operating Leases
Right-of-use assets	Other assets	$	9,987,699		$	12,483,638
Lease liabilities	Other liabilities and accrued expenses	$	10,596,471		$	12,939,691
Finance Leases
Right-of-use assets		$	228,221		$	235,867
Accumulated amortization			(200,178	)		(177,660	)
Right-of-use assets, net	Property and equipment, net	$	28,043		$	58,207
Lease liabilities	Bank and other loans payable	$	31,082		$	62,767