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Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Summary of Weighted Average Remaining Lease Term and Discount Rate and Leases within Condensed Consolidated Statement of Operations
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

December 31, 2020December 29, 2019
Weighted average remaining lease term:
Operating leases9.4 years10.2 years
Financing leases13.4 years4.8 years
Weighted average discount rate:
Operating leases4.0 %4.1 %
Financing leases3.2 %5.7 %

Following is a summary of the Company’s leases within the Company’s consolidated statements of operations:

Fiscal Year
(in thousands)20202019
Operating lease costs$24,823 $18,820 
Short-term and variable leases15,305 13,605 
Depreciation expense from financing leases(1)
4,678 5,967 
Interest expense on financing lease obligations(1)
1,728 2,714 
Total lease cost$46,534 $41,106 

(1)During 2018, the Company had depreciation expense from capital leases of $5.9 million and interest expense on capital lease obligations of $3.3 million.
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 December 31, 2020:
(in thousands)Operating LeasesFinancing LeasesTotal
2021$24,056 $7,079 $31,135 
202220,970 7,145 28,115 
202318,125 7,201 25,326 
202415,330 7,396 22,726 
202513,747 7,593 21,340 
Thereafter77,353 55,827 133,180 
Total minimum lease payments including interest$169,581 $92,241 $261,822 
Less:  Amounts representing interest29,892 16,397 46,289 
Present value of minimum lease principal payments139,689 75,844 215,533 
Less:  Current portion of lease liabilities - operating and financing leases19,766 5,860 25,626 
Noncurrent portion of lease liabilities - operating and financing leases$119,923 $69,984 $189,907 
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 LeasesFinancing LeasesTotal
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 December 31, 2020:
(in thousands)Operating LeasesFinancing LeasesTotal
2021$24,056 $7,079 $31,135 
202220,970 7,145 28,115 
202318,125 7,201 25,326 
202415,330 7,396 22,726 
202513,747 7,593 21,340 
Thereafter77,353 55,827 133,180 
Total minimum lease payments including interest$169,581 $92,241 $261,822 
Less:  Amounts representing interest29,892 16,397 46,289 
Present value of minimum lease principal payments139,689 75,844 215,533 
Less:  Current portion of lease liabilities - operating and financing leases19,766 5,860 25,626 
Noncurrent portion of lease liabilities - operating and financing leases$119,923 $69,984 $189,907 
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 LeasesFinancing LeasesTotal
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 Consolidated Statement of Cash Flow
Following is a summary of the Company’s leases within the consolidated statements of cash flows:

Fiscal Year
(in thousands)20202019
Cash flows from operating activities impact:
Operating leases$24,718 $18,138 
Interest payments on financing lease obligations(1)
1,728 2,714 
Total cash flows from operating activities impact$26,446 $20,852 
Cash flows from financing activities impact:
Principal payments on financing lease obligations(1)
$5,861 $8,656 
Total cash flows from financing activities impact$5,861 $8,656 

(1)During 2018, the Company had principal payments on capital lease obligations of $8.1 million and interest payments on capital lease obligations of $3.3 million.