General form of registration statement for all companies including face-amount certificate companies

Leases (Tables)

v3.22.2.2
Leases (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Leases    
Schedule of Components of Lease Expense

The components of lease expense were as follows:

 

    For the Six  
    Months Ended  
    June 30,  
    2022  
Operating lease costs:        
Amortization of assets   $ 60,833  
Interest on lease liabilities     51,131  
Lease payments on short term leases     33,067  
Total lease cost   $ 145,031  

The components of lease expense were as follows:

 

    For the  
    Year Ended  
    December 31,  
    2021  
Operating lease cost:        
Amortization of assets   $ 87,276  
Interest on lease liabilities     3,035  
Total lease cost   $ 90,311  
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

    June 30,  
    2022  
Operating leases:        
Operating lease assets   $ 1,483,218  
         
Current portion of operating lease liabilities   $ 106,999  
Noncurrent operating lease liabilities     1,389,982  
Total operating lease liabilities   $ 1,496,981  
         
Weighted average remaining lease term:        
Operating leases     8.50 years  
         
Weighted average discount rate:        
Operating leases     6.75 %
 
Schedule of Supplemental Cash Flow Related to Leases

Supplemental cash flow and other information related to leases was as follows:

 

    For the Six  
    Months Ended  
    June 30,  
    2022  
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows used for operating leases   $ 38,725  
         
Leased assets obtained in exchange for lease liabilities:        
Total operating lease liabilities   $ 1,535,706  

Supplemental cash flow and other information related to leases was as follows:

 Schedule of Supplemental Cash Flow Related to Leases

    For the  
    Year Ended  
    December 31,  
    2021  
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows used for operating leases   $ 201,525  
Schedule of Operating Lease Liability Maturity

Future minimum annual lease commitments under non-cancelable operating leases are as follows at June 30, 2022:

 

    Operating  
    Leases  
       
2022 (for the six months remaining)   $ 100,984  
2023     208,004  
2024     205,999  
2025     200,496  
2026 and thereafter     1,335,816  
Total minimum lease payments     2,051,299  
Less interest     554,318  
Present value of lease liabilities     1,496,981  
Less current portion     106,999  
Long-term lease liabilities   $ 1,389,982