Leases Leases (Tables)
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9 Months Ended |
Sep. 26, 2020 |
Leases [Abstract] |
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Lease, Cost |
The components of operating and finance lease cost for the thirteen and thirty-nine weeks ended September 26, 2020 and thirteen and thirty-nine weeks ended September 28, 2019 were as follows:
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Thirteen Weeks Ended September 26, 2020 |
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Thirty-nine Weeks Ended September 26, 2020 |
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Thirteen Weeks Ended September 28, 2019 |
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Thirty-nine Weeks Ended September 28, 2019 |
Operating lease cost |
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$ |
4,989 |
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$ |
14,283 |
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$ |
5,101 |
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$ |
14,399 |
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Short term lease costs |
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633 |
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1,682 |
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668 |
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2,644 |
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Variable lease costs |
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104 |
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775 |
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720 |
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1,795 |
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Finance lease cost: |
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Amortization of right of use assets |
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206 |
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608 |
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190 |
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425 |
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Interest on lease liabilities |
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34 |
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106 |
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35 |
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78 |
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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 September 26, 2020 and December 28, 2019:
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September 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 |
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Finance Leases |
Weighted average remaining lease term |
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7.36 |
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2.81 |
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7.88 |
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3.46 |
Weighted average discount rate |
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8.24 |
% |
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6.84 |
% |
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7.81 |
% |
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6.49 |
% |
Supplemental cash flow information related to the Company's operating leases was as follows for the thirty-nine weeks ended September 26, 2020 and thirty-nine weeks ended September 28, 2019:
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Thirty-nine Weeks Ended September 26, 2020 |
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Thirty-nine Weeks Ended September 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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$ |
13,821 |
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$ |
13,872 |
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Operating cash outflow from finance leases |
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106 |
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66 |
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Financing cash outflow from finance leases |
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624 |
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484 |
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Assets and Liabilities, Lessee |
Supplemental balance sheet information related to the Company's finance leases was as follows as of September 26, 2020 and December 28, 2019:
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September 26, 2020 |
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December 28, 2019 |
Finance lease assets, net, included in property plant and equipment |
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$ |
1,902 |
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$ |
2,101 |
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Current portion of long-term debt |
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814 |
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749 |
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Long-term debt, less current portion |
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1,221 |
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1,526 |
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Total principal payable on finance leases |
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2,035 |
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2,275 |
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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 September 26, 2020:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
18,428 |
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$ |
932 |
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1 to 2 years |
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15,845 |
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692 |
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2 to 3 years |
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13,846 |
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414 |
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3 to 4 years |
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13,019 |
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211 |
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4 to 5 years |
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12,080 |
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— |
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After 5 years |
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37,814 |
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— |
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Total future minimum rental commitments |
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111,032 |
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2,249 |
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Less - amounts representing interest |
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(28,323) |
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(214) |
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Present value of lease liabilities |
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$ |
82,709 |
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$ |
2,035 |
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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 September 26, 2020:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
18,428 |
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$ |
932 |
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1 to 2 years |
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15,845 |
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692 |
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2 to 3 years |
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13,846 |
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414 |
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3 to 4 years |
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13,019 |
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211 |
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4 to 5 years |
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12,080 |
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— |
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After 5 years |
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37,814 |
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— |
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Total future minimum rental commitments |
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111,032 |
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2,249 |
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Less - amounts representing interest |
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(28,323) |
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(214) |
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Present value of lease liabilities |
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$ |
82,709 |
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$ |
2,035 |
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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:
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Operating Leases |
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Finance Leases |
Less than one year |
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$ |
17,525 |
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$ |
873 |
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1 to 2 years |
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15,956 |
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712 |
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2 to 3 years |
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13,925 |
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456 |
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3 to 4 years |
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12,045 |
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383 |
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4 to 5 years |
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11,716 |
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127 |
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After 5 years |
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43,591 |
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— |
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Total future minimum rental commitments |
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114,758 |
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2,551 |
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Less - amounts representing interest |
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(30,072) |
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(276) |
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Present value of lease liabilities |
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84,686 |
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2,275 |
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