Leases

9 Months Ended

Dec. 28, 2019

Leases [Abstract]

Leases

9. Leases

The Company enters into operating leases for manufacturing facilities, warehouses, sales offices, information technology equipment, plant equipment, vehicles and certain other equipment with varying end dates from January 2020 to February 2038, including renewal options.

The following table represents the impact of leasing on the consolidated balance sheet:

Operating Leases:	December 28, 2019
Lease assets:
Operating lease assets, net	$	29,644
Lease liabilities:
Current operating lease liabilities		6,756
Long-term operating lease liabilities		22,982
Total operating lease liabilities	$	29,738

The Company did not have any finance leases as of December 28, 2019. Cash paid included in the measurement of lease liabilities was $1,504 and $4,235 for the three- and nine-month periods ended December 28, 2019, respectively. Lease assets obtained in exchange for new operating lease liabilities were $1,592 and $4,961 for the three- and nine-month periods ended December 28, 2019, respectively.

Operating lease expense was $1,867 and $5,355 for the three- and nine-month periods ended December 28, 2019, respectively. Short-term and variable lease expense were immaterial for both the three- and nine-month periods ended December 28, 2019.

Future undiscounted lease payments for the remaining lease terms as of December 28, 2019, including renewal options reasonably certain of being exercised, are as follows:

	Operating Leases
Within one year	$	5,961
One to two years		5,090
Two to three years		3,647
Three to four years		3,196
Four to five years		2,507
Thereafter		17,174
Total future undiscounted lease payments		37,575
Less: imputed interest		(7,837	)
Total operating lease liabilities	$	29,738

The weighted-average remaining lease term on December 28, 2019 for our operating leases is 11.6 years. The weighted-average discount rate on December 28, 2019 for our operating leases is 4.8%.