Leases (Tables)

6 Months Ended

Mar. 27, 2020

Leases [Abstract]

Assets and liabilities

Leases

(in thousands)	March 27, 2020
Assets
Operating lease assets	$	39,900
Finance lease assets	3,564
Total right-of-use assets, gross	$	43,464
Less: accumulated depreciation	(1,835		)
Right-of-use assets, net	$	41,629
Liabilities
Current liabilities:
Current portion of operating lease liabilities	$	11,556
Current portion of finance lease liabilities	492
Lease obligations	$	12,048
Noncurrent liabilities:
Operating lease liabilities	$	29,476
Finance lease liabilities	935
Long-term lease obligations	$	30,411
Total lease obligations	$	42,459

Lease, cost

Lease Term and Discount Rate

	March 27, 2020
Weighted-average remaining lease term (years)
Operating leases	4.74
Finance leases	3.52
Weighted-average discount rate
Operating leases	4.34	%
Finance leases	3.16	%

Other Information

(in thousands)	Six months ended March 27, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	6,517
Operating cash flows from finance leases	14
Financing cash flows from finance leases	267

The following table summarizes lease costs by type of cost for the three months ended March 27, 2020. In the condensed consolidated statements of operations, cost of sales and selling, general and administrative expenses included lease costs of $3,194 and $967, respectively.

(in thousands)	Three months ended March 27, 2020
Condensed Consolidated Statement of Operations Classification	Total
Amortization of right-of-use assets	$	3,757
Interest on lease liabilities	14
Variable lease costs	43
Short term lease costs	347
Total lease costs	$	4,161

The following table summarizes lease costs by type of cost for the six months ended March 27, 2020. In the condensed consolidated statements of operations, cost of sales and selling, general and administrative expenses included lease costs of $5,950 and $2,125, respectively.

(in thousands)	Six months ended March 27, 2020
Condensed Consolidated Statement of Operations Classification	Total
Amortization of right-of-use assets	$	7,384
Interest on lease liabilities	22
Variable lease costs	82
Short term lease costs	587
Total lease costs	$	8,075

Operating lease liability, maturity

The Company's maturity analysis of its lease liabilities as of March 27, 2020 is as follows:

(in thousands)	Financing Leases			Operating Leases
2020	$	462		$	13,274
2021	388			10,366
2022	382			8,202
2023	237			6,010
2024	16			4,826
2025 and after	—			4,919
Total lease payments	$	1,485		$	47,597
Less: Interest	(59		)	(6,565		)
Present value of lease liabilities	$	1,426		$	41,032

Finance lease, liability, maturity

The Company's maturity analysis of its lease liabilities as of March 27, 2020 is as follows:

(in thousands)	Financing Leases			Operating Leases
2020	$	462		$	13,274
2021	388			10,366
2022	382			8,202
2023	237			6,010
2024	16			4,826
2025 and after	—			4,919
Total lease payments	$	1,485		$	47,597
Less: Interest	(59		)	(6,565		)
Present value of lease liabilities	$	1,426		$	41,032

Schedule of Minimum Future Operating Lease Payments

The following represents the Company's future minimum rental payments at September 30, 2019 for agreements classified as operating leases under ASC 840 with non-cancelable terms in excess of one year:

2020	$	13,526
2021	11,592
2022	8,666
2023	6,362
2024	5,097
2025 and thereafter	6,938
Total	$	52,181