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Leases (Tables)
6 Months Ended
Jun. 28, 2020
Leases [Abstract]  
Summary of Weighted Average Remaining Lease Term and Discount Rate and Balances Related to Lease Portfolio within Condensed Consolidated Statement of Operations
Following is a summary of the weighted average remaining lease term and weighted average discount rate for the Company’s population of leases:

June 28, 2020December 29, 2019
Weighted average remaining lease term:
Operating leases10.0 years10.2 years
Financing leases5.8 years4.8 years
Weighted average discount rate:
Operating leases4.1 %4.1 %
Financing leases5.5 %5.7 %
Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of operations:

Second QuarterFirst Half
(in thousands)2020201920202019
Cost of sales impact:
Operating lease costs$1,385  $1,342  $2,770  $2,683  
Short-term and variable leases3,057  2,317  5,657  4,579  
Depreciation expense from financing leases353  354  707  707  
Total cost of sales impact$4,795  $4,013  $9,134  $7,969  
SD&A expenses impact:
Operating lease costs$4,710  $3,026  $9,379  $5,922  
Short-term and variable leases451  779  1,341  1,838  
Depreciation expense from financing leases571  1,137  1,142  2,276  
Total SD&A expenses impact$5,732  $4,942  $11,862  $10,036  
Interest expense, net impact:
Interest expense on financing lease obligations$241  $715  $507  $1,417  
Total interest expense, net impact$241  $715  $507  $1,417  
Total lease cost$10,768  $9,670  $21,503  $19,422  
Summary of Future Minimum Lease Payments for Noncancelable Operating Leases Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2020:
(in thousands)Operating
Leases
Financing
Leases
Total
Remainder of 2020$11,371  $3,518  $14,889  
202121,017  2,628  23,645  
202218,264  2,694  20,958  
202315,971  2,750  18,721  
202415,326  2,808  18,134  
Thereafter90,229  5,407  95,636  
Total minimum lease payments including interest$172,178  $19,805  $191,983  
Less:  Amounts representing interest32,523  2,786  35,309  
Present value of minimum lease principal payments139,655  17,019  156,674  
Less:  Current portion of lease liabilities - operating and financing leases17,602  4,070  21,672  
Noncurrent portion of lease liabilities - operating and financing leases$122,053  $12,949  $135,002  
Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019:

(in thousands)Operating
Leases
Financing
Leases
Total
2020$19,236  $10,611  $29,847  
202116,815  6,215  23,030  
202214,016  2,694  16,710  
202311,704  2,750  14,454  
202410,989  2,808  13,797  
Thereafter67,556  5,406  72,962  
Total minimum lease payments including interest$140,316  $30,484  $170,800  
Less:  Amounts representing interest27,527  3,678  31,205  
Present value of minimum lease principal payments112,789  26,806  139,595  
Less:  Current portion of lease liabilities - operating and financing leases15,024  9,403  24,427  
Noncurrent portion of lease liabilities - operating and financing leases$97,765  $17,403  $115,168  
Summary of Future Minimum Lease Payments for Noncancelable Finance Leases Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2020:
(in thousands)Operating
Leases
Financing
Leases
Total
Remainder of 2020$11,371  $3,518  $14,889  
202121,017  2,628  23,645  
202218,264  2,694  20,958  
202315,971  2,750  18,721  
202415,326  2,808  18,134  
Thereafter90,229  5,407  95,636  
Total minimum lease payments including interest$172,178  $19,805  $191,983  
Less:  Amounts representing interest32,523  2,786  35,309  
Present value of minimum lease principal payments139,655  17,019  156,674  
Less:  Current portion of lease liabilities - operating and financing leases17,602  4,070  21,672  
Noncurrent portion of lease liabilities - operating and financing leases$122,053  $12,949  $135,002  
Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019:

(in thousands)Operating
Leases
Financing
Leases
Total
2020$19,236  $10,611  $29,847  
202116,815  6,215  23,030  
202214,016  2,694  16,710  
202311,704  2,750  14,454  
202410,989  2,808  13,797  
Thereafter67,556  5,406  72,962  
Total minimum lease payments including interest$140,316  $30,484  $170,800  
Less:  Amounts representing interest27,527  3,678  31,205  
Present value of minimum lease principal payments112,789  26,806  139,595  
Less:  Current portion of lease liabilities - operating and financing leases15,024  9,403  24,427  
Noncurrent portion of lease liabilities - operating and financing leases$97,765  $17,403  $115,168  
Summary of Balances Related to Lease Portfolio within Condensed Consolidated Statement of Cash Flow
Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of cash flows:

First Half
(in thousands)20202019
Cash flows from operating activities impact:
Operating leases$8,633  $8,515  
Interest payments on financing lease obligations507  1,417  
Total cash flows from operating activities impact$9,140  $9,932  
Cash flows from financing activities impact:
Principal payments on financing lease obligations$3,001  $4,261  
Total cash flows from financing activities impact$3,001  $4,261