Operating Leases:

3 Months Ended

Mar. 30, 2024

Operating Leases:

Operating Leases:

10. Operating Leases:

As of March 30, 2024, 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 5.75 years and the discount rate is 5.5%. The Company recognized $221,700 and $299,600 of operating lease costs for the periods ended March 30, 2024 and April 1, 2023, respectively.

Maturities of operating lease liabilities is as follows for the remainder of fiscal 2024 and full fiscal years thereafter as of March 30, 2024:

Operating Lease Liabilities expected to be recognized in	Amount
2024	$	525,300
2025		806,000
2026		828,200
2027		851,100
2028		874,600
Thereafter		898,700
Total lease payments		4,783,900
Less imputed interest		(697,600)
Present value of lease liabilities	$	4,086,300

Of the $4.1 million operating lease liability outstanding at March 30, 2024, $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 March 30, 2024:

	Three Months Ended
	March 30, 2024		April 1, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow outflow from operating leases	$	259,100	$	189,100