Leases

12 Months Ended

May 30, 2020

Leases [Abstract]

Leases

Leases

Expenses related to operating leases, amortization of finance lease ROU assets and finance lease interest are included in Cost of sales, Selling general and administrative expense, and Interest income, net in the Consolidated Statements of Income.

The Company’s lease cost consists of the following (in thousands):

	13 Weeks Ended May 30, 2020		52 Weeks Ended May 30, 2020
Operating Lease cost	$	236	$	871
Finance Lease cost
Amortization of right-of-use asset	$	38	$	115
Interest on lease obligations	$	10	$	43
Short term lease cost	$	959	$	3,608

Future minimum lease payments under non-cancelable leases are as follows (in thousands):

	As of May 30, 2020
	Operating Leases		Finance Leases
2021	$	930	$	239
2022	806		239
2023	539		239
2024	380		218
2025	130		—
Thereafter	32		—
Total	2,817		935
Less imputed interest	(286)		(78)
Total	$	2,531	$	857

The weighted-average remaining lease term and discount rate for lease liabilities included in our Condensed Consolidated Balance Sheet are as follows:

	As of May 30, 2020
	Operating Leases		Finance Leases
Weighted-average remaining lease term (years)	3.5		3.5
Weighted-average discount rate	5.9	%	4.9	%

Leases

Leases

Expenses related to operating leases, amortization of finance lease ROU assets and finance lease interest are included in Cost of sales, Selling general and administrative expense, and Interest income, net in the Consolidated Statements of Income.

The Company’s lease cost consists of the following (in thousands):

	13 Weeks Ended May 30, 2020		52 Weeks Ended May 30, 2020
Operating Lease cost	$	236	$	871
Finance Lease cost
Amortization of right-of-use asset	$	38	$	115
Interest on lease obligations	$	10	$	43
Short term lease cost	$	959	$	3,608

Future minimum lease payments under non-cancelable leases are as follows (in thousands):

	As of May 30, 2020
	Operating Leases		Finance Leases
2021	$	930	$	239
2022	806		239
2023	539		239
2024	380		218
2025	130		—
Thereafter	32		—
Total	2,817		935
Less imputed interest	(286)		(78)
Total	$	2,531	$	857

The weighted-average remaining lease term and discount rate for lease liabilities included in our Condensed Consolidated Balance Sheet are as follows:

	As of May 30, 2020
	Operating Leases		Finance Leases
Weighted-average remaining lease term (years)	3.5		3.5
Weighted-average discount rate	5.9	%	4.9	%