| Summary of Lease Components |
The components of operating and finance lease cost for the year ended December 26, 2020 and December 28, 2019 were as follows:
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Year Ended
December 26, 2020 |
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Year Ended
December 28, 2019 |
| Operating lease cost |
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$ |
19,189 |
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$ |
19,456 |
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| Short term lease costs |
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2,404 |
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|
2,587 |
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| Variable lease costs |
|
898 |
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|
2,731 |
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| Finance lease cost: |
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| Amortization of right of use assets |
|
813 |
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|
616 |
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| Interest on lease liabilities |
|
143 |
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|
115 |
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December 26, 2020 |
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December 28, 2019 |
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Operating Leases |
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Finance Leases |
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Operating Leases(1)
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Finance Leases |
| Weighted average remaining lease term |
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7.19 |
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2.61 |
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7.88 |
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3.46 |
| Weighted average discount rate |
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8.28% |
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7.14% |
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7.81% |
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6.49% |
(1) Upon adoption of the new lease standard, discount rates used for existing operating leases were established on December 30, 2018.
Supplemental balance sheet information related to the Company's finance leases as of December 26, 2020 and December 28, 2019:
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December 26, 2020 |
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December 28, 2019 |
| Finance lease assets, net, included in property plant and equipment |
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$ |
1,919 |
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$ |
2,101 |
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| Current portion of long-term debt |
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872 |
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|
749 |
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| Long-term debt, less current portion |
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1,172 |
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|
1,526 |
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| Total principal payable on finance leases |
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$ |
2,044 |
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$ |
2,275 |
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Supplemental cash flow information related to our operating leases was as follows for the year ended December 26, 2020 and December 28, 2019:
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Year Ended
December 26, 2020 |
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Year Ended
December 28, 2019 |
| Cash paid for amounts included in the measurement of lease liabilities: |
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| Operating cash outflow from operating leases |
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$ |
18,641 |
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$ |
18,668 |
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| Operating cash outflow from finance leases |
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143 |
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|
104 |
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| Financing cash outflow from finance leases |
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|
836 |
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|
683 |
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| Schedule of Lease Liability Maturity |
As of December 26, 2020, our future minimum rental commitments are immaterial for lease agreements beginning after the current reporting period. Maturities of our lease liabilities for all operating and finance leases are as follows as of December 26, 2020:
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Operating Leases |
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Finance Leases |
| Less than one year |
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$ |
18,259 |
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$ |
993 |
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| 1 to 2 years |
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15,919 |
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|
708 |
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| 2 to 3 years |
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13,656 |
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|
421 |
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| 3 to 4 years |
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13,065 |
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|
129 |
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| 4 to 5 years |
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11,928 |
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— |
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| After 5 years |
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35,342 |
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— |
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| Total future minimum rental commitments |
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108,169 |
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|
2,251 |
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| Less - amounts representing interest |
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(27,067) |
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|
(207) |
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| Present value of lease liabilities |
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$ |
81,102 |
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$ |
2,044 |
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| Schedule of Lease Liability Maturity |
As of December 26, 2020, our future minimum rental commitments are immaterial for lease agreements beginning after the current reporting period. Maturities of our lease liabilities for all operating and finance leases are as follows as of December 26, 2020:
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Operating Leases |
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Finance Leases |
| Less than one year |
|
$ |
18,259 |
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$ |
993 |
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| 1 to 2 years |
|
15,919 |
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|
708 |
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| 2 to 3 years |
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13,656 |
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|
421 |
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| 3 to 4 years |
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13,065 |
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|
129 |
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| 4 to 5 years |
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11,928 |
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— |
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| After 5 years |
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35,342 |
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— |
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| Total future minimum rental commitments |
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108,169 |
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|
2,251 |
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| Less - amounts representing interest |
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(27,067) |
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(207) |
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| Present value of lease liabilities |
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$ |
81,102 |
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$ |
2,044 |
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