Leases Leases (Tables)
|
3 Months Ended |
Mar. 28, 2020 |
Leases [Abstract] |
|
Lease, Cost |
The components of operating and finance lease cost for the thirteen weeks ended March 28, 2020 and thirteen weeks ended March 30, 2019 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended March 28, 2020 |
|
Thirteen Weeks Ended March 30, 2019 |
Operating lease cost |
|
$ |
4,747 |
|
|
$ |
4,723 |
|
Short term lease costs |
|
520 |
|
|
1,233 |
|
Variable lease costs |
|
181 |
|
|
188 |
|
Finance lease cost: |
|
|
|
|
Amortization of right of use assets |
|
202 |
|
|
92 |
|
Interest on lease liabilities |
|
36 |
|
|
15 |
|
The weighted average remaining lease terms and discount rates for all of our operating & finance leases were as follows as of March 28, 2020 and December 28, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 28, 2020 |
|
December 28, 2019 |
|
|
Operating Leases |
|
Finance Leases |
|
Operating Leases |
|
Finance Leases |
Weighted average remaining lease term |
|
7.81 |
|
|
3.18 |
|
|
7.88 |
|
|
3.46 |
|
Weighted average discount rate |
|
7.83 |
% |
|
6.44 |
% |
|
7.81 |
% |
|
6.49 |
% |
Supplemental cash flow information related to the Company's operating leases was as follows for the thirteen weeks ended March 28, 2020 and thirteen weeks ended March 30, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended March 28, 2020 |
|
Thirteen Weeks Ended March 30, 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
Operating cash outflow from operating leases |
|
$ |
4,621 |
|
|
$ |
4,631 |
|
Operating cash outflow from finance leases |
|
36 |
|
|
10 |
|
Financing cash outflow from finance leases |
|
206 |
|
|
142 |
|
|
Assets and Liabilities, Lessee |
Supplemental balance sheet information related to the Company's finance leases was as follows as of March 28, 2020 and December 28, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
March 28, 2020 |
|
December 28, 2019 |
Finance lease assets, net, included in property plant and equipment |
|
$ |
2,057 |
|
|
$ |
2,101 |
|
|
|
|
|
|
Current portion of long-term debt |
|
779 |
|
|
749 |
|
Long-term debt, less current portion |
|
1,434 |
|
|
1,526 |
|
Total principal payable on finance leases |
|
2,213 |
|
|
2,275 |
|
|
Lessee, Operating Lease, Liability Maturity |
Maturities of our lease liabilities for all operating and finance leases are as follows as of March 28, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
Finance Leases |
Less than one year |
|
$ |
16,960 |
|
|
$ |
902 |
|
1 to 2 years |
|
15,206 |
|
|
726 |
|
2 to 3 years |
|
13,336 |
|
|
453 |
|
3 to 4 years |
|
11,603 |
|
|
345 |
|
4 to 5 years |
|
11,262 |
|
|
36 |
|
After 5 years |
|
41,019 |
|
|
— |
|
Total future minimum rental commitments |
|
109,386 |
|
|
2,462 |
|
Less - amounts representing interest |
|
(28,466 |
) |
|
(249 |
) |
Present value of lease liabilities |
|
$ |
80,920 |
|
|
$ |
2,213 |
|
|
Lessee, Financing Lease, Liability Maturity |
Maturities of our lease liabilities for all operating and finance leases are as follows as of March 28, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
Finance Leases |
Less than one year |
|
$ |
16,960 |
|
|
$ |
902 |
|
1 to 2 years |
|
15,206 |
|
|
726 |
|
2 to 3 years |
|
13,336 |
|
|
453 |
|
3 to 4 years |
|
11,603 |
|
|
345 |
|
4 to 5 years |
|
11,262 |
|
|
36 |
|
After 5 years |
|
41,019 |
|
|
— |
|
Total future minimum rental commitments |
|
109,386 |
|
|
2,462 |
|
Less - amounts representing interest |
|
(28,466 |
) |
|
(249 |
) |
Present value of lease liabilities |
|
$ |
80,920 |
|
|
$ |
2,213 |
|
|
Schedule of Future Minimum Rental Payments for Operating Leases |
As of December 28, 2019, maturities of our lease liabilities for all operating and finance leases were expected to be as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
Finance Leases |
Less than one year |
|
$ |
17,525 |
|
|
$ |
873 |
|
1 to 2 years |
|
15,956 |
|
|
712 |
|
2 to 3 years |
|
13,925 |
|
|
456 |
|
3 to 4 years |
|
12,045 |
|
|
383 |
|
4 to 5 years |
|
11,716 |
|
|
127 |
|
After 5 years |
|
43,591 |
|
|
— |
|
Total future minimum rental commitments |
|
114,758 |
|
|
2,551 |
|
Less - amounts representing interest |
|
(30,072 |
) |
|
(276 |
) |
Present value of lease liabilities |
|
84,686 |
|
|
2,275 |
|
|