Leases

6 Months Ended

Jun. 27, 2021

Leases [Abstract]

Leases

Leases

As of June 27, 2021, the Company had right-of-use (“ROU”) assets, net of $195.2 million and lease liabilities of $198.1 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 27, 2021, the Company recognized operating lease costs of approximately $15.2 million and $30.8 million, respectively.

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

	June 27, 2021
Remainder of 2021	$	24,623
2022	47,194
2023	42,678
2024	34,600
2025	28,185
Thereafter	61,793
Total future minimum lease payments	239,073
Less imputed interest	40,992
Present value of minimum lease payments	198,081
Less current maturities of lease liabilities	47,257
Long-term lease liabilities	$	150,824

The weighted-average remaining lease term and the weighted-average discount rate for the Company’s operating leases were approximately 6.5 years and 6.1%, respectively, at June 27, 2021.

The Company made cash payments of approximately $12.2 million and $24.2 million for operating leases for the three month and six month periods ended June 27, 2021, which are included in cash flows from operating activities in the condensed consolidated statement of cash flows.