Hillman Solutions Corp. Quarterly report pursuant to Section 13 or 15(d)

Operating Leases⁽¹⁾

Finance Leases

Weighted average remaining lease term

Weighted average discount rate

Leases Leases (Tables)

3 Months Ended

Mar. 30, 2019

Mar. 31, 2018

As of December 29, 2018, minimum lease payments under non-cancellable operating leases by period were expected to be as follows:



	Operating Leases
Less than one year	$	17,326
1 to 2 years	14,736
2 to 3 years	13,305
3 to 4 years	12,012
4 to 5 years	9,541
After 5 years	16,664
Total future minimum rental commitments	83,584

The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of March 30, 2019:

(1) Upon adoption of the new lease standard, discount rates used for existing operating leases were established on January 1, 2019.

The components of operating and finance lease cost for the first quarter of 2019 were as follows:



	Thirteen Weeks Ended March 30, 2019
Operating lease cost	$	4,723
Short term lease costs	1,233
Variable lease costs	188
Finance lease cost:
Amortization of right of use assets	92
Interest on lease liabilities	15

Supplemental balance sheet information related to the Company's finance leases as of March 30, 2019:



	March 30, 2019
Finance lease assets, net, included in property plant and equipment	$	618

Current portion of long-term debt	400
Long-term debt, less current portion	447
Total principal payable on finance leases	847

Supplemental cash flow information related to our operating leases was as follows for the period ended March 30, 2019:



	Thirteen Weeks Ended March 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$	4,631
Operating cash flows from finance leases	10
Financing cash flows from finance leases	142

Maturities of our lease liabilities for all operating and finance leases are as follows as of March 30, 2019:



	Operating Leases			Finance Leases
Less than one year	$	16,702		$	453
1 to 2 years	13,551			259
2 to 3 years	11,922			148
3 to 4 years	10,456			58
4 to 5 years	8,353			9
After 5 years	37,088			—
Total future minimum rental commitments	98,072			927
Less - amounts representing interest	(21,909		)	(80		)
Present value of lease liabilities	$	76,163		$	847