Operating Leases:

9 Months Ended

Sep. 30, 2023

Operating Leases:

Operating Leases:

10. Operating Leases:

As of September 30, 2023, 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 6.25 years and the discount rate is 5.5%. The Company recognized $877,600 and $910,500 of rent expense for the periods ended September 30, 2023 and September 24, 2022, respectively.

Maturities of operating lease liabilities is as follows for the remainder of fiscal 2023 and full fiscal years thereafter as of September 30, 2023:

Operating Lease Liabilities expected to be recognized in	Amount
2023	$	194,300
2024		784,400
2025		806,000
2026		828,200
2027		851,100
Thereafter		1,773,200
Total lease payments		5,237,200
Less imputed interest		(869,200)
Present value of lease liabilities	$	4,368,000

Of the $4.4 million operating lease liability outstanding at September 30, 2023, $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 September 30, 2023:

	Nine Months Ended
	September 30, 2023		September 24, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow outflow from operating leases	$	569,000	$	553,900