Leases (Tables)

12 Months Ended

Dec. 28, 2019

Leases [Abstract]

Leases included in the Condensed Consolidated Balance Sheets

Leases included in the Consolidated Balance Sheets consisted of the following (in thousands):

Classification	December 28, 2019
Assets
Right-of-use operating leases	$	72,883
Right-of-use finance leases	2,129
Total Right-of-use operating / finance leases	$	75,012
Liabilities
Current lease obligations - operating	$	22,219
Current lease obligations - finance	563
Total Current lease obligations - operating / finance	22,782
Long-term lease obligations - operating	58,233
Long-term lease obligations - finance	1,581
Total Long-term lease obligations - operating / finance	59,814
Total lease obligations - operating / finance	$	82,596

Lease Costs Included in the Condensed Consolidated Statements on Comprehensive Income

The following table summarizes cash paid for amounts included in the measurements of lease liabilities and the leased assets obtained in exchange for new operating and finance lease liabilities (in thousands):

	2019
Cash paid for amounts included in the measurements of lease liabilities
Operating cash flows from operating / finance leases	$	26,446
Financing cash flows from finance leases	$	419
Leased assets obtained in exchange for new operating / finance lease liabilities	$	25,268

Lease costs included in the Consolidated Statements of Comprehensive Income consisted of the following (in thousands):

	Classification	2019
Operating lease costs
Fixed	Cost of sales	$	1,803
	Selling and administrative expenses	24,149
Short-term / variable	Cost of sales	700
	Selling and administrative expenses	1,140
Finance lease costs
Amortization	Cost of sales, selling and administrative, and interest expense	480
Less: Sublease income		181
Total lease costs		$	28,091

Maturities of Finance Lease Liabilities

Maturity of lease liabilities as of December 28, 2019 is as follows (in thousands):

	Operating Leases (a)		Finance Leases (b)		Total
2020	$	25,181	$	630	$	25,811
2021	18,597		602		19,199
2022	13,054		516		13,570
2023	10,006		436		10,442
2024	5,745		112		5,857
Thereafter	17,609		—		17,609
Total lease payments	90,192		2,296		92,488
Less: Interest	9,742		150		9,892
Present value of lease liabilities	$	80,450	$	2,146	$	82,596

(a) At this time there are no operating lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $0.2 million of legally binding minimum lease payments for operating leases signed but not yet commenced, which are excluded from operating lease liabilities.

(b)

At this time there are no finance lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $0.4 million of legally binding minimum lease payments for finance leases signed but not yet commenced, which are excluded from finance lease liabilities.

Maturities of Operating Lease Liabilities

Maturity of lease liabilities as of December 28, 2019 is as follows (in thousands):

	Operating Leases (a)		Finance Leases (b)		Total
2020	$	25,181	$	630	$	25,811
2021	18,597		602		19,199
2022	13,054		516		13,570
2023	10,006		436		10,442
2024	5,745		112		5,857
Thereafter	17,609		—		17,609
Total lease payments	90,192		2,296		92,488
Less: Interest	9,742		150		9,892
Present value of lease liabilities	$	80,450	$	2,146	$	82,596

(a) At this time there are no operating lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $0.2 million of legally binding minimum lease payments for operating leases signed but not yet commenced, which are excluded from operating lease liabilities.

(b) At this time there are no finance lease options to extend lease terms that are reasonably certain of being exercised. Currently the Corporation has $0.4 million of legally binding minimum lease payments for finance leases signed but not yet commenced, which are excluded from finance lease liabilities.

Weighted Average Lease Terms and Discount Rates, Lessee

The following table summarizes the weighted-average discount rates and weighted-average remaining lease terms for operating and finance leases as of December 28, 2019:

	Weighted-Average Discount Rate (percent)		Weighted-Average Remaining Lease Term  (years)
Operating leases	4.1	%	5.4
Finance leases	3.6	%	4.0

Operating Leases

Commitments for minimum rentals as of December 29, 2018 under non-cancelable leases were as follows (in thousands):

	Operating Leases
2019	$	24,387
2020	18,250
2021	13,324
2022	9,082
2023	6,228
Thereafter	10,469
Total minimum lease payments	$	81,740

Rent expense under ASC 840 was as follows (in thousands):

	2018		2017
Rent expense	$	31,027	$	32,158