Leases

6 Months Ended

Jun. 28, 2020

Leases [Abstract]

Leases

LeasesAt June 28, 2020, the Company had right-of-use (“ROU”) assets, net of $154.4 million and lease liabilities of $157.4 million recorded on the condensed consolidated balance sheet.

The Company rents certain facilities and equipment under operating leases. The Company’s total lease cost is recorded primarily within selling, general and administrative expenses on the condensed consolidated statements of operations. Rents which are directly chargeable to a project are charged to cost of revenues.

During the three-month and six-month periods ended June 28, 2020, the Company recognized operating lease costs of approximately $14.3 million and $28.4 million, respectively.

The Company’s future minimum operating lease payments for noncancelable operating leases were as follows (in thousands):

	As of
	June 28, 2020
Remainder of 2020	$	20,344
2021	39,437
2022	34,047
2023	30,160
2024	22,030
Thereafter	51,674
Total future minimum lease payments	197,692
Less imputed interest	40,294
Present value of minimum lease payments	157,398
Less current maturities of lease liabilities	38,946
Long-term lease liabilities	$	118,452

The weighted-average remaining lease term and the weighted-average discount rate for the Company’s operating leases were approximately 6.95 years and 7.3%, respectively, at June 28, 2020.

The Company made cash payments of approximately $10.6 million and $21.2 million for operating leases for the three-month and six-month periods ended June 28, 2020, which are included in cash flows from operating activities in the condensed consolidated statement of cash flows.