Leases (Tables)

9 Months Ended

Sep. 28, 2019

Leases [Abstract]

Impacts of Adoption of ASU 842 Leases

The details of the impact of the changes made to the Company’s condensed consolidated balance sheet date as of January 1, 2019, the date of adoption, are reflected in the following table.

(In thousands)	Debit/(Credit)
Right-of-use assets	$	46,162
Prepaid rent	(646		)
Short-term lease liability	(8,892		)
Short-term deferred rent	274
Long-term lease liability	(42,639		)
Long-term deferred rent	5,741
Deferred tax asset	11,629
Deferred tax liability	(11,629		)

Lease Balance Components

As of September 28, 2019, the Company’s operating lease components with initial or remaining terms in excess of one year were classified on the condensed consolidated balance sheet as follows:

(In thousands)	Classification	September 28, 2019
Assets
Right-of-use assets	Right-of-use assets	$	48,684
Liabilities
Short-term lease liability	Other accrued liabilities	8,775
Long-term lease liability	Long-term lease liability	44,375
Total lease liabilities		$	53,150

The Company combines the amortization of the ROU assets and the change in the operating lease liability in the same line item in the Statement of Cash Flows. Other information related to the Company’s operating leases was as follows:

(In thousands)	September 28, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from leases	$	8,107
Lease Term and Discount Rate
Weighted average remaining lease term (years)	8.78
Weighted average discount rate	5.17		%

Components of Lease Expense

The components of lease expense for the three and nine months ended September 28, 2019 are as follows:

	Three months ended		Nine months ended
(In thousands)	September 28, 2019		September 28, 2019
Operating lease cost	$	3,334	$	9,146

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments for noncancellable operating leases as of September 28, 2019, were as follows:

(In thousands)	Operating Leases
Remaining 2019	$	3,074
2020	10,679
2021	8,721
2022	6,846
2023	6,140
Thereafter	32,052
Total	$	67,512
Less: Interest	14,362
Present value of lease liabilities	$	53,150

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments for noncancellable operating leases as of December 31, 2018, were as follows:

(In thousands)	Operating Leases
2019	$	11,360
2020	8,906
2021	6,836
2022	5,431
2023	5,208
Thereafter	27,153
Total	$	64,894