LEASES (Tables)

9 Months Ended

Sep. 28, 2019

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



	Thirteen weeks ended September 28, 2019			Thirty-nine weeks ended September 28, 2019
Operating lease cost	$	5,002		$	15,471
Short-term lease cost	$	650		$	1,919
Total lease cost	$	5,652		$	17,390

Operating cash outflows from operating leases	$	5,499		$	16,966
ROU assets obtained in exchange for lease obligations	$	626		$	3,057
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 third quarter of 2019 is as follows:



	Classification	September 28, 2019
Operating lease assets	Other assets	$	80,715

Operating lease short-term liabilities	Accrued expenses	14,634
Operating lease long-term liabilities	Operating lease liabilities	78,790
Total lease liabilities		$	93,424

Future minimum lease payments

Minimum lease payments under operating leases expiring subsequent to September 28, 2019 are as follows:



Fiscal year ending:
2019 (excluding the nine months ended September 28, 2019)	$	4,738
2020	17,397
2021	14,154
2022	11,508
2023	8,684
Subsequent	57,574
Total minimum lease payments	$	114,055
Less: Interest	$	20,631
Present value of minimum lease payments	$	93,424

Future minimum operating lease payments under ASC 840

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