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Leases (Tables)
9 Months Ended
Oct. 01, 2022
Leases [Abstract]  
Components of Lease Expense

The components of lease expense for the three and nine months ended October 1, 2022 and October 2, 2021, are as follows (in thousands):

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

October 1,

 

 

October 2,

 

 

October 1,

 

 

October 2,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

$

5,101

 

 

$

4,213

 

 

$

14,941

 

 

$

10,990

 

Short-term lease cost

 

2,668

 

 

 

2,280

 

 

 

7,488

 

 

 

6,696

 

Total lease cost

$

7,769

 

 

$

6,493

 

 

$

22,429

 

 

$

17,686

 

Other Information Relating to Leases

Other information relating to leases for the three and nine months ended October 1, 2022 and October 2, 2021, are as follows (in thousands, except years and percentages):

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

October 1,

 

 

October 2,

 

 

October 1,

 

 

October 2,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Supplemental cash flows information

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the
  measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows relating to
  operating leases

$

(4,913

)

 

$

(3,435

)

 

$

(14,230

)

 

$

(9,503

)

 

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange
  for lease obligations:

 

 

 

 

 

 

 

 

 

 

 

Operating leases

$

1,363

 

 

$

933

 

 

$

13,625

 

 

$

47,838

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term in years

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

6.39

 

 

 

6.39

 

 

 

6.39

 

 

 

6.39

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average discount rate

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

5.4

%

 

 

5.5

%

 

 

5.4

%

 

 

5.5

%

Future Maturities under Operating Leases

Future maturities under operating leases were as follows at October 1, 2022 and January 1, 2022 (in thousands):

 

 

 

October 1,

 

 

January 1,

 

 

 

2022

 

 

2022

 

Remainder of 2022

 

$

5,005

 

 

$

17,929

 

2023

 

 

19,735

 

 

 

17,577

 

2024

 

 

19,140

 

 

 

16,990

 

2025

 

 

17,998

 

 

 

15,987

 

2026

 

 

16,799

 

 

 

15,025

 

2027

 

 

15,847

 

 

 

14,358

 

Thereafter

 

 

22,978

 

 

 

17,891

 

 

 

 

 

 

 

 

Total future minimum lease payments

 

 

117,502

 

 

 

115,757

 

 

 

 

 

 

 

 

Less: Imputed interest

 

 

(17,361

)

 

 

(18,674

)

 

 

 

 

 

 

 

Operating lease liability - total

 

$

100,141

 

 

$

97,083

 

 

 

 

 

 

 

 

Reported as of October 1, 2022 and January 2, 2021:

 

 

 

 

 

 

Current portion of operating lease liability

 

$

15,247

 

 

$

13,180

 

Operating lease liability, less current portion

 

 

84,894

 

 

 

83,903

 

 

 

 

 

 

 

 

Operating lease liability - total

 

$

100,141

 

 

$

97,083