LEASES (Tables)

12 Months Ended

Jan. 02, 2021

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	January 2, 2021
Assets:
Operating lease assets	Operating lease right-of-use assets	$	34,090
Finance lease assets	Property, plant and equipment	909
Total lease assets		$	34,999
Liabilities:
Current
Operating lease liabilities	Operating lease liabilities	$	8,247
Finance lease liabilities	Current maturities of long-term debt	197
Non-current
Operating lease liabilities	Operating lease liabilities, non-current	36,546
Finance lease liabilities	Long-term debt, net of current portion	753
Total lease liabilities		$	45,743

Summary of Lease Cost

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

	Fiscal Year Ended
	January 2, 2021
Operating lease costs	$	9,599
Finance lease cost - amortization of right-of-use assets	211
Finance lease cost - interest on lease liabilities	64
Short-term lease cost	185
Variable lease cost	3,349
Sublease income	(757)
Total lease cost	$	12,651

The following table presents lease terms and discount rates:

	January 2, 2021
Weighted average remaining lease term:
Operating leases	6.15 years
Finance leases	3.66 years
Weighted average discount rate:
Operating leases	6.42	%
Finance leases	6.24	%

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

	January 2, 2021
Cash paid for amounts included in measurement of liabilities:
Operating cash flows used in operating leases	$	11,097
Operating cash flows used in finance leases	64
Financing cash flows used in finance leases	185
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	2,831

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 January 2, 2021 (in thousands):

	Operating Leases		Finance Leases		Total
2021	$	10,852	$	249	$	11,101
2022	7,752		249		8,001
2023	8,044		249		8,293
2024	7,759		330		8,089
2025	7,035		—		7,035
Thereafter	13,268		—		13,268
Total lease payments	54,710		1,077		55,787
Less: Effect of discounting to net present value	9,917		127		10,044
Present value of lease liabilities	$	44,793	$	950	$	45,743

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 January 2, 2021 (in thousands):

	Operating Leases		Finance Leases		Total
2021	$	10,852	$	249	$	11,101
2022	7,752		249		8,001
2023	8,044		249		8,293
2024	7,759		330		8,089
2025	7,035		—		7,035
Thereafter	13,268		—		13,268
Total lease payments	54,710		1,077		55,787
Less: Effect of discounting to net present value	9,917		127		10,044
Present value of lease liabilities	$	44,793	$	950	$	45,743