LEASES (Tables)

6 Months Ended

Jun. 29, 2019

Lease cost and other information related to the Company's operating leases are as follows:



	Thirteen weeks ended June 29, 2019			Twenty-six weeks ended June 29, 2019
Operating lease cost	$	5,174		$	10,469
Short-term lease cost	669			1,269
Total lease cost	$	5,843		$	11,738

Operating cash outflows from operating leases	$	5,421		$	11,467
ROU assets obtained in exchange for lease obligations	$	1,195		$	2,431
Weighted average remaining lease term	10 years			10 years
Weighted average discount rate	3.9		%	3.9		%

As part of the adoption of ASC 842, the Company evaluated at the historical and projected cash flow generation of the operations at each of its long-term leased facilities. One of those facilities, a galvanizing operation in Melbourne, Australia, will not generate sufficient cash flows on an undiscounted cash flow basis to recover the carrying value of the right of use asset. The Company then estimated a value for this operation using a discounted cash flow model. The result was an impairment of the right-of-use lease asset of approximately $12,063. The after-tax balance of $8,444 was recorded as a reduction to retained earnings for the transition adjustment of adoption.

(9) LEASES (Continued)

Supplemental balance sheet information related to operating leases for the second quarter of 2019 is as follows:



	Classification	June 29, 2019
Operating lease assets	Other assets	$	87,562

Operating lease short-term liabilities	Accrued expenses	15,567
Operating lease long-term liabilities	Operating lease liabilities	85,176
Total lease liabilities		$	100,743

Future Minimum Lease Payments

Minimum lease payments under operating leases expiring subsequent to June 29, 2019 are as follows:



Fiscal year ending:
2019 (excluding the six months ended June 29, 2019)	$	10,023
2020	18,035
2021	14,778
2022	11,981
2023	9,100
Subsequent	59,448
Total minimum lease payments	$	123,365
Less: Interest	$	22,622
Present value of minimum lease payments	$	100,743

The below table as of December 29, 2018 is carried forward, including certain amounts that were historically included in the table as a result of the historical lease term conclusions but were not included in the initial ROU asset and lease liability measurement as of December 30, 2018 due to the Company's election of the hindsight practical expedient. The Company also determined one of its leases with escalating rent payments should be expensed using the straight-line method over a longer term and the result was an additional reduction to retained earnings of $442 for a transition adjustment. Minimum lease payments for operating leases under ASC 840 expiring subsequent to December 29, 2018 are as follows:



Fiscal year ending:
2019	$	18,757
2020	16,830
2021	13,992
2022	11,932
2023	8,866
Subsequent	76,438
Total minimum lease payments	$	146,815