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Leases
9 Months Ended
Sep. 26, 2020
Leases [Abstract]  
Leases LEASES
COVID-19 Pandemic
In response to the large volume of anticipated lease concessions to be granted related to the effects of the COVID-19 pandemic, and the resulting expected cost and complexity of applying the lease modification requirements in ASC 842, the FASB issued Staff Q&A-Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic, in April 2020 as interpretive guidance to provide clarity in response to the crisis. The FASB staff indicated that it would be acceptable for entities to make an election to account for lease concessions related to the effects of the COVID-19 pandemic consistent with how they would be accounted for as though enforceable rights and obligations for those concessions existed in the original contract. Consequently, for such lease concessions, an entity will not need to reassess each existing contract to determine whether enforceable rights and obligations for concessions exist and an entity can then elect to apply or not to apply the lease modification guidance in ASC 842 to those contracts. This election is available for concessions related to the effects of the COVID-19 pandemic that will result in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract.
The Company has made this election and, consequently, for such lease concessions, did not reassess each existing contract to determine whether enforceable rights and obligations for concessions existed and elected not to apply the lease modification guidance in ASC 842 to those contracts. The Company has accounted for the concessions as if no changes to the lease contract were made and has subsequently increased accounts payable and has continued to recognize expense during the deferral period.

Balance sheet information related to right-of-use assets and liabilities is as follows:
Balance Sheet LocationSeptember 26, 2020December 28,
2019
Operating Leases:
Operating lease right-of-use assetsOperating lease right-of-use assets$22,861 $24,835 
Current portion of operating lease liabilitiesCurrent portion of operating lease liabilities3,287 3,172 
Noncurrent portion of operating lease liabilitiesOperating lease liabilities20,191 22,123 
Total operating lease liabilities$23,478 $25,295 
Finance Leases:
Finance lease right-of-use assets (1)
Property, plant, and equipment, net$15,123 $15,152 
Current portion of finance lease liabilities (1)
Current portion of long-term debt3,842 4,011 
Noncurrent portion of finance lease liabilities (1)
Long-term debt15,084 15,472 
$18,926 $19,483 
(1) Includes leases classified as failed sale-leaseback transactions.

Lease cost recognized in the consolidated condensed financial statements is summarized as follows:
Three Months EndedNine Months Ended
September 26, 2020September 28, 2019September 26, 2020September 28, 2019
Operating lease cost$1,275 $778 $3,874 $2,501 
Finance lease cost:
     Amortization of lease assets (1)790 751 2,370 2,249 
     Interest on lease liabilities (1)446 354 1,067 1,039 
Total finance lease costs (1)$1,236 $1,105 $3,437 $3,288 
(1) Includes leases classified as failed sale-leaseback transactions.
Other supplemental information related to leases is summarized as follows:
September 26,
2020
September 28, 2019
Weighted average remaining lease term (in years):
     Operating leases7.896.20
     Finance leases (1)11.7111.80
Weighted average discount rate:
     Operating leases6.93 %8.51 %
     Finance leases (1)9.08 %6.69 %
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases3,706 2,534 
     Operating cash flows from finance leases (1)1,067 1,039 
     Financing cash flows from finance leases (1)2,767 3,122 
(1) Includes leases classified as failed sale-leaseback transactions.

The following table summarizes the Company's future minimum lease payments under non-cancellable contractual obligations for operating and financing liabilities as of September 26, 2020:

Fiscal YearOperating LeasesFinance Leases
20201,246 1,405 
20214,701 5,240 
20224,188 2,887 
20233,247 3,409 
20242,940 1,045 
Thereafter14,529 16,039 
Total future minimum lease payments (undiscounted)30,851 30,025 
Less: Present value discount7,373 11,099 
Total lease liability23,478 18,926