Leases Leases (Tables)
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6 Months Ended |
Jun. 29, 2019 |
Leases [Abstract] |
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Lease, Cost |
Supplemental cash flow information related to our operating leases was as follows for the twenty-six weeks ended June 29, 2019:
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Twenty-six Weeks Ended June 29, 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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$ |
9,129 |
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Operating cash outflow from finance leases |
|
31 |
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Financing cash outflow from finance leases |
|
283 |
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The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of June 29, 2019:
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Operating Leases(1)
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Finance Leases |
Weighted average remaining lease term |
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7.86 |
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3.92 |
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Weighted average discount rate |
|
6.50 |
% |
|
6.54 |
% |
(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 thirteen and twenty-six weeks ended June 29, 2019 were as follows:
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Thirteen Weeks Ended June 29, 2019 |
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Twenty-six Weeks Ended June 29, 2019 |
Operating lease cost |
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$ |
4,575 |
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$ |
9,298 |
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Short term lease costs |
|
742 |
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|
1,975 |
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Variable lease costs |
|
352 |
|
|
540 |
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Finance lease cost: |
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Amortization of right of use assets |
|
143 |
|
|
235 |
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Interest on lease liabilities |
|
28 |
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|
43 |
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Assets and Liabilities, Lessee |
Supplemental balance sheet information related to the Company's finance leases as of June 29, 2019:
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June 29, 2019 |
Finance lease assets, net, included in property plant and equipment |
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$ |
1,922 |
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Current portion of long-term debt |
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626 |
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Long-term debt, less current portion |
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1,507 |
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Total principal payable on finance leases |
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2,133 |
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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 June 29, 2019:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
15,960 |
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$ |
755 |
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1 to 2 years |
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13,546 |
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|
617 |
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2 to 3 years |
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11,541 |
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|
468 |
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3 to 4 years |
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9,866 |
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|
371 |
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4 to 5 years |
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8,296 |
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|
218 |
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After 5 years |
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34,265 |
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— |
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Total future minimum rental commitments |
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93,474 |
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|
2,429 |
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Less - amounts representing interest |
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(19,981 |
) |
|
(296 |
) |
Present value of lease liabilities |
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$ |
73,493 |
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$ |
2,133 |
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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 June 29, 2019:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
15,960 |
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$ |
755 |
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1 to 2 years |
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13,546 |
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|
617 |
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2 to 3 years |
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11,541 |
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|
468 |
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3 to 4 years |
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9,866 |
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|
371 |
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4 to 5 years |
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8,296 |
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|
218 |
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After 5 years |
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34,265 |
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— |
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Total future minimum rental commitments |
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93,474 |
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|
2,429 |
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Less - amounts representing interest |
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(19,981 |
) |
|
(296 |
) |
Present value of lease liabilities |
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$ |
73,493 |
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$ |
2,133 |
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Schedule of Future Minimum Rental Payments for Operating Leases |
As of December 29, 2018, minimum lease payments under non-cancellable operating leases by period were expected to be as follows:
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Operating Leases |
Less than one year |
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$ |
17,326 |
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1 to 2 years |
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14,736 |
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2 to 3 years |
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13,305 |
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3 to 4 years |
|
12,012 |
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4 to 5 years |
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9,541 |
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After 5 years |
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16,664 |
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Total future minimum rental commitments |
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83,584 |
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