Leases Leases (Tables)
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3 Months Ended |
Mar. 27, 2021 |
Leases [Abstract] |
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Lease, Cost |
The components of operating and finance lease cost for the thirteen weeks ended March 27, 2021 and thirteen weeks ended March 28, 2020 were as follows:
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Thirteen Weeks Ended March 27, 2021 |
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Thirteen Weeks Ended March 28, 2020 |
Operating lease cost |
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$ |
5,094 |
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$ |
4,747 |
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Short term lease costs |
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887 |
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520 |
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Variable lease costs |
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303 |
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181 |
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Finance lease cost: |
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Amortization of right of use assets |
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215 |
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202 |
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Interest on lease liabilities |
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34 |
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36 |
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The weighted average remaining lease terms and discount rates for all of our operating and finance leases were as follows as of March 27, 2021 and December 26, 2020:
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March 27, 2021 |
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December 26, 2020 |
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Operating Leases |
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Finance Leases |
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Operating Leases |
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Finance Leases |
Weighted average remaining lease term |
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7.15 |
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2.44 |
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7.19 |
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2.61 |
Weighted average discount rate |
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8.70% |
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7.14% |
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8.28% |
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7.14% |
Supplemental cash flow information related to the Company's operating leases was as follows for the thirteen weeks ended March 27, 2021 and thirteen weeks ended March 28, 2020:
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Thirteen Weeks Ended March 27, 2021 |
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Thirteen Weeks Ended March 28, 2020 |
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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$ |
4,907 |
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$ |
4,621 |
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Operating cash outflow from finance leases |
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35 |
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36 |
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Financing cash outflow from finance leases |
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227 |
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206 |
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Assets and Liabilities, Lessee |
Supplemental balance sheet information related to the Company's finance leases was as follows as of March 27, 2021 and December 26, 2020:
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March 27, 2021 |
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December 26, 2020 |
Finance lease assets, net, included in property plant and equipment |
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$ |
1,727 |
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$ |
1,919 |
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Current portion of long-term debt |
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833 |
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872 |
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Long-term debt, less current portion |
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1,005 |
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1,172 |
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Total principal payable on finance leases |
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1,838 |
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2,044 |
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Lessee, Operating Lease, Liability Maturity |
Maturities of our lease liabilities for all operating and finance leases are as follows as of March 27, 2021:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
18,006 |
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$ |
941 |
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1 to 2 years |
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16,093 |
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646 |
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2 to 3 years |
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13,982 |
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387 |
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3 to 4 years |
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13,711 |
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40 |
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4 to 5 years |
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13,018 |
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— |
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After 5 years |
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35,646 |
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— |
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Total future minimum rental commitments |
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110,456 |
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2,014 |
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Less - amounts representing interest |
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(28,509) |
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(176) |
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Present value of lease liabilities |
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$ |
81,947 |
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$ |
1,838 |
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Lessee, Financing Lease, Liability Maturity |
Maturities of our lease liabilities for all operating and finance leases are as follows as of March 27, 2021:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
18,006 |
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$ |
941 |
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1 to 2 years |
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16,093 |
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646 |
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2 to 3 years |
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13,982 |
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387 |
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3 to 4 years |
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13,711 |
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40 |
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4 to 5 years |
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13,018 |
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— |
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After 5 years |
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35,646 |
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— |
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Total future minimum rental commitments |
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110,456 |
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2,014 |
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Less - amounts representing interest |
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(28,509) |
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(176) |
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Present value of lease liabilities |
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$ |
81,947 |
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$ |
1,838 |
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