Leases

3 Months Ended

Mar. 28, 2020

The Company has operating leases for real estate and automobiles. During the three months ended March 28, 2020, operating lease expense was approximately $8.6 million (including $1.4 million of accelerated rent expense due to restructuring resulting in abandonment of lease facilities). Variable lease cost, short-term lease cost and sublease income were immaterial during the three months ended March 28, 2020. As of March 28, 2020, $18.1 million was included in accrued expenses and other current liabilities and $60.4 million as long-term operating lease liabilities.

The following table presents maturity of lease liabilities under the Company's non-cancelable operating leases as of March 28, 2020 (in thousands):



Remainder of 2020	$	18,987
2021	18,691
2022	15,245
2023	12,054
2024	10,066
Thereafter	35,855
Total lease payments	110,898
Less: interest⁽¹⁾	32,423
Present value of lease liabilities	$	78,475

(1) Calculated using the interest rate for each lease.

The following table presents supplemental information for the three months ended March 28, 2020 (in thousands, except for weighted average and percentage data):



Weighted average remaining lease term	7.01 years
Weighted average discount rate	9.09		%
Cash paid for amounts included in the measurement of lease liabilities	$	6,425
Operating cash flow from operating leases	$	6,425
Leased assets obtained in exchange for new operating lease liabilities	$	1,818

Financing Lease Obligations

During the three months ended March 28, 2020, there were no new finance lease arrangements. The lease term for the existing arrangements range from 3 - 5 years with options to purchase at the end of the term. Finance lease cost was approximately $0.2 million for the three months ended March 28, 2020 and zero for the three months ended March 30, 2019. As of March 28, 2020, $1.7 million was included in accrued expenses and other current liabilities and $2.1 million as long-term finance lease obligation related to these equipment finance lease arrangements.

As of December 28, 2019, $1.4 million was included in accrued expenses and other current liabilities and $2.4 million as a long-term finance lease obligation related to these equipment finance lease arrangements.

The following table presents maturity of lease liability under the Company's finance leases as of March 28, 2020 (in thousands):




Remainder of 2020	$	1,557
2021	1,199
2022	930
2023	402
Thereafter	—
Total lease payments	4,088
Less: interest	281
Present value of lease liabilities	$	3,807

The following table presents supplemental information for the three months ended March 28, 2020 (in thousands, except for weighted average and percentage data):



Weighted average remaining lease term	2.78 years
Weighted average discount rate	7.00		%
Cash paid for amounts included in the measurement of lease liabilities	$	—
Operating cash flow from operating leases	$	—
Leased assets obtained in exchange for new finance lease liabilities	$	—