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Leases (Tables)
9 Months Ended
Oct. 03, 2020
Leases [Abstract]  
Components of Lease Expense

The components of lease expense for the three and nine months ended October 3, 2020, and September 28, 2019, are as follows. Certain amounts in prior periods have been reclassified to conform to the current presentation. There was no change to total lease cost. (in thousands):

 

Three Months Ended

 

 

Nine Months Ended

 

 

October 3,

 

 

September 28,

 

 

October 3,

 

 

September 28,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

$

2,364

 

 

$

1,608

 

 

$

6,775

 

 

$

5,058

 

Variable lease cost

 

927

 

 

 

652

 

 

 

2,523

 

 

 

1,494

 

Total lease cost

$

3,291

 

 

$

2,260

 

 

$

9,298

 

 

$

6,552

 

Other Information Relating to Leases

Other information relating to leases for the three and nine months ended October 3, 2020, and September 28, 2019, are as follows (in thousands, except years and percentages):

 

Three Months Ended

 

 

Nine Months Ended

 

 

October 3,

 

 

September 28,

 

 

October 3,

 

 

September 28,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Supplemental cash flows information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the

  measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows relating to

  operating leases

$

(2,276

)

 

$

(1,546

)

 

$

(6,497

)

 

$

(4,506

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange

  for lease obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

$

3,079

 

 

$

 

 

$

17,917

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term in years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

6.81

 

 

 

4.13

 

 

 

6.81

 

 

 

4.13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average discount rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

5.8

%

 

 

6.2

%

 

 

5.8

%

 

 

6.2

%

Future Maturities under Operating Leases


Future maturities under operating leases were as follows at October 3, 2020, and December 28, 2019 (in thousands):

 

 

October 3,

 

 

December 28,

 

 

 

2020

 

 

2019

 

Remainder of 2020

 

$

2,381

 

 

$

6,319

 

2021

 

 

8,138

 

 

 

4,771

 

2022

 

 

7,305

 

 

 

3,878

 

2023

 

 

6,954

 

 

 

3,741

 

2024

 

 

6,560

 

 

 

3,771

 

Thereafter

 

 

19,604

 

 

 

13,691

 

 

 

 

 

 

 

 

 

 

Total future minimum lease payments

 

 

50,942

 

 

 

36,171

 

 

 

 

 

 

 

 

 

 

Less:  Imputed interest

 

 

(9,033

)

 

 

(7,428

)

 

 

 

 

 

 

 

 

 

Operating lease liability - total

 

$

41,909

 

 

$

28,743

 

 

 

 

 

 

 

 

 

 

Reported as of October 3, 2020 and December 28, 2019:

 

 

 

 

 

 

 

 

Current portion of operating lease liability

 

$

6,396

 

 

$

4,703

 

Operating lease liability, less current portion

 

 

35,513

 

 

 

24,040

 

 

 

 

 

 

 

 

 

 

Operating lease liability - total

 

$

41,909

 

 

$

28,743