LEASES (Tables)

3 Months Ended

Mar. 28, 2020

Leases [Abstract]

Summary of Balance Sheet

The following table presents the assets and liabilities related to operating and finance leases (in thousands):

	Balance Sheet Location	March 28, 2020
Assets:
Operating lease assets	Operating lease right-of-use assets	$	36,272
Finance lease assets	Property, plant and equipment	1,068
Total lease assets		$	37,340
Liabilities:
Current
Operating lease liabilities	Operating lease liabilities	$	7,867
Finance lease liabilities	Current maturities of long-term debt	188
Non-current
Operating lease liabilities	Operating lease liabilities, non-current	40,372
Finance lease liabilities	Long-term debt, net of current portion	902
Total lease liabilities		$	49,329

Summary of Lease Cost

The following table presents the components of lease costs (in thousands):

	Three Months Ended
	March 28, 2020
Operating lease costs	$	2,297
Finance lease cost - amortization of right-of-use assets	53
Finance lease cost - interest on lease liabilities	17
Short-term lease cost	55
Variable lease cost	838
Sublease income	(186)
Total lease cost	$	3,074

The following table presents lease terms and discount rates:

	March 28, 2020
Weighted average remaining lease term:
Operating leases	6.83 years
Finance leases	4.43 years
Weighted average discount rate:
Operating leases	6.62	%
Finance leases	6.24	%

The following table presents supplemental cash flow information related to our leases (in thousands):

	March 28, 2020
Cash paid for amounts included in measurement of liabilities:
Operating cash flows used in operating leases	2,531
Operating cash flows used in finance leases	17
Financing cash flows used in finance leases	45

Schedule of Operating Lease Liability, Maturity

The following table presents the minimum lease payment obligations of operating and finance lease liabilities (leases with terms in excess of one year) for the next five years and thereafter as of March 28, 2020 (in thousands):

	Operating Leases		Finance Leases		Total
2020	$	7,730	$	187	$	7,917
2021	9,843		249		10,092
2022	7,505		249		7,754
2023	7,716		249		7,965
2024	7,474		330		7,804
Thereafter	20,048		—		20,048
Total lease payments	60,316		1,264		61,580
Less: Effect of discounting to net present value	12,077		174		12,251
Present value of lease liabilities	$	48,239	$	1,090	$	49,329

Schedule of Finance Lease Liability, Maturity

The following table presents the minimum lease payment obligations of operating and finance lease liabilities (leases with terms in excess of one year) for the next five years and thereafter as of March 28, 2020 (in thousands):

	Operating Leases		Finance Leases		Total
2020	$	7,730	$	187	$	7,917
2021	9,843		249		10,092
2022	7,505		249		7,754
2023	7,716		249		7,965
2024	7,474		330		7,804
Thereafter	20,048		—		20,048
Total lease payments	60,316		1,264		61,580
Less: Effect of discounting to net present value	12,077		174		12,251
Present value of lease liabilities	$	48,239	$	1,090	$	49,329