Leases (Tables)

12 Months Ended

Oct. 02, 2020

Leases [Abstract]

Assets and Liabilities, Lessee

Included in our Consolidated Balance Sheets were the following amounts related to operating and finance lease assets and liabilities (in thousands):

	October 2, 2020		September 27, 2019		Consolidated Balance Sheet Classification
Assets:
Operating lease ROU assets	$	33,307	$	—	Other long-term assets
Finance lease assets	33,127		—		Property and equipment, net
Capital lease and financed assets	—		40,442		Property and equipment, net
Total lease assets	$	66,434	$	40,442
Liabilities:
Current:
Operating lease liabilities	$	7,601	$	—	Accrued liabilities
Finance lease liabilities	1,368		—		Current portion of finance lease obligations and other
Capital lease and financing obligations	—		1,084		Current portion of finance lease obligations and other
Long-term:
Operating lease liabilities	31,837		—		Other long-term liabilities
Finance lease liabilities	28,994		—		Finance lease obligations and other, less current portion
Capital lease and financing obligations	—		29,506		Finance lease obligations and other, less current portion
Total lease liabilities	$	69,800	$	30,590

Leases, Weighted-Average Lease Term and Discount Rate

The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases as of October 2, 2020 were as follows:

	October 2, 2020
Weighted-average remaining lease term (in years):
Operating leases	6.4
Finance leases	17.0
Weighted-average discount rate:
Operating leases	6.2	%
Finance leases	6.7	%

Lease, Cost

The components of lease expense were as follows (in thousands):

	Fiscal Year
	October 2, 2020
Finance lease cost:
Amortization of lease assets	$	3,022
Interest on lease liabilities	2,155
Total finance lease cost	$	5,177
Operating lease cost	$	9,815
Variable lease cost	$	2,645
Short-term lease cost	$	368
Sublease income	$	(592)

Rent expense incurred under non-cancelable operating leases was $9.7 million and $9.5 million in fiscal years 2019 and 2018, respectively.

Leases, Supplemental Cash Flow Information

Cash paid for amounts included in the measurement of lease liabilities were as follows (in thousands):

	Fiscal Year Ended
	October 2, 2020
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	9,562
Operating cash flows from finance leases	$	2,155
Financing cash flows from finance leases	$	1,708
Non-cash activities:
Operating lease ROU assets obtained in exchange for new lease liabilities	$	3,788
Financing lease assets obtained in exchange for new lease liabilities	$	586

Finance Lease, Liability, Maturity

As of October 2, 2020, maturities of lease payments by fiscal year were as follows (in thousands):

Fiscal year ending:	Operating Leases		Finance Leases
2021	$	9,771	$	3,347
2022	8,359		2,836
2023	6,661		2,820
2024	6,228		2,856
2025	4,315		2,783
Thereafter	12,784		37,150
Total lease payments	$	48,118	$	51,792
Less: interest	(8,680)		(21,430)
Present value of lease liabilities	$	39,438	$	30,362

Lessee, Operating Lease, Liability, Maturity

As of October 2, 2020, maturities of lease payments by fiscal year were as follows (in thousands):

Fiscal year ending:	Operating Leases		Finance Leases
2021	$	9,771	$	3,347
2022	8,359		2,836
2023	6,661		2,820
2024	6,228		2,856
2025	4,315		2,783
Thereafter	12,784		37,150
Total lease payments	$	48,118	$	51,792
Less: interest	(8,680)		(21,430)
Present value of lease liabilities	$	39,438	$	30,362

Schedule of Future Minimum Lease Payments for Capital Leases

As of September 27, 2019, future minimum lease payments for our operating and capital leases were as follows as determined in accordance with the previous guidance under ASC 840, Leases (in thousands):

Fiscal year ending:	Operating Leases		Capital Leases
2020	$	9,987	$	3,299
2021	9,233		3,343
2022	7,447		2,884
2023	6,061		2,816
2024	5,564		2,853
Thereafter	16,437		39,927
Total future minimum lease payments	$	54,729	55,122
Less amount representing interest			(26,241)
Present value of net minimum capital lease payments			$	28,881

Schedule of Future Minimum Rental Payments for Operating Leases

As of September 27, 2019, future minimum lease payments for our operating and capital leases were as follows as determined in accordance with the previous guidance under ASC 840, Leases (in thousands):

Fiscal year ending:	Operating Leases		Capital Leases
2020	$	9,987	$	3,299
2021	9,233		3,343
2022	7,447		2,884
2023	6,061		2,816
2024	5,564		2,853
Thereafter	16,437		39,927
Total future minimum lease payments	$	54,729	55,122
Less amount representing interest			(26,241)
Present value of net minimum capital lease payments			$	28,881