LEASES (Tables)

12 Months Ended

Jan. 01, 2022

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 1, 2022		January 2, 2021
Assets:
Operating lease assets	Operating lease right-of-use assets	$	54,971	$	34,090
Finance lease assets	Property, plant and equipment	9,380		909
Total lease assets		$	64,351	$	34,999
Liabilities:
Current
Operating lease liabilities	Operating lease liabilities	$	10,167	$	8,247
Finance lease liabilities	Current maturities of long-term debt	2,060		197
Non-current
Operating lease liabilities	Operating lease liabilities, non-current	55,940		36,546
Finance lease liabilities	Long-term debt, net of current portion	7,299		753
Total lease liabilities		$	75,466	$	45,743

Summary of Lease Cost

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

	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Operating lease costs	$	12,312	$	9,599	$	8,002
Finance lease cost - amortization of right-of-use assets	1,046		211		88
Finance lease cost - interest on lease liabilities	139		64		30
Short-term lease cost	366		185		249
Variable lease cost	3,822		3,349		2,806
Sublease income	(743)		(757)		(743)
Total lease cost	$	16,942	$	12,651	$	10,432

The following table presents lease terms and discount rates:

	January 1, 2022		January 2, 2021
Weighted average remaining lease term:
Operating leases	6.06 years		6.15 years
Finance leases	4.35 years		3.66 years
Weighted average discount rate:
Operating leases	4.75	%	6.42	%
Finance leases	2.24	%	6.24	%

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

	January 1, 2022		January 2, 2021		December 28, 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows used in operating leases	$	13,146	$	11,097	$	8,649
Operating cash flows used in finance leases	139		64		30
Financing cash flows used in finance leases	1,108		185		74
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	30,234		2,831		1,208
Finance leases	9,517		—		10,015

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 1, 2022 (in thousands):

	Operating Leases		Finance Leases		Total
2022	$	12,991	$	2,245	$	15,236
2023	13,156		2,078		15,234
2024	13,224		2,325		15,549
2025	12,470		1,995		14,465
2026	11,177		1,164		12,341
Thereafter	13,166		—		13,166
Total lease payments	76,184		9,807		85,991
Less: Effect of discounting to net present value	10,077		448		10,525
Present value of lease liabilities	$	66,107	$	9,359	$	75,466

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 1, 2022 (in thousands):

	Operating Leases		Finance Leases		Total
2022	$	12,991	$	2,245	$	15,236
2023	13,156		2,078		15,234
2024	13,224		2,325		15,549
2025	12,470		1,995		14,465
2026	11,177		1,164		12,341
Thereafter	13,166		—		13,166
Total lease payments	76,184		9,807		85,991
Less: Effect of discounting to net present value	10,077		448		10,525
Present value of lease liabilities	$	66,107	$	9,359	$	75,466