Leases

9 Months Ended

Sep. 27, 2020

At September 27, 2020, the Company had right-of-use (“ROU”) assets, net of $160.0 million and lease liabilities of $161.9 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 nine-month periods ended September 27, 2020, the Company recognized operating lease costs of approximately $13.8 million and $42.3 million, respectively.

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



	September 27, 2020
Remainder of 2020	$	10,942
2021	41,682
2022	36,043
2023	31,331
2024	23,077
Thereafter	60,704
Total future minimum lease payments	203,779
Less imputed interest	41,917
Present value of minimum lease payments	161,862
Less current maturities of lease liabilities	40,979
Long-term lease liabilities	$	120,883

The weighted-average remaining lease term and the weighted-average discount rate for the Company’s operating leases were approximately 7.1 years and 7.1%, respectively, at September 27, 2020.

The Company made cash payments of approximately $11.3 million and $32.5 million for operating leases for the three-month and nine-month periods ended September 27, 2020, which are included in cash flows from operating activities in the condensed consolidated statement of cash flows.