Leases (Tables)

3 Months Ended

Apr. 05, 2020

Leases [Abstract]

Schedule of Lease Cost

The table below represents a summary of the balances recorded in the consolidated condensed balance sheet related to our leases as of April 5, 2020:

	April 5, 2020				December 29, 2019
	(In thousands)
Balance Sheet Location	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Operating lease right-of-use assets	$	103,637			$	107,044
Current portion of operating lease liabilities	$	14,812			$	15,914
Operating lease liabilities	87,847				91,829
Total operating lease liabilities	$	102,659			$	107,743
Property and equipment			$	4,921			$	5,007
Accrued expenses			$	1,482			$	1,489
Other long-term liabilities			1,401				1,673
Total finance lease liabilities			$	2,883			$	3,162

Lease Costs

	Three Months Ended
	April 5, 2020		March 31, 2019
Lease cost	(In thousands)
Finance lease cost:
Amortization of right-of-use assets	$	300	$	146
Interest on lease liabilities	18		8
Operating lease cost	6,222		5,671
Short-term lease cost	175		738
Variable lease cost	646		145
Total lease cost	$	7,361	$	6,708
Other supplemental information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	18	$	8
Operating cash flows from operating leases	5,881		5,110
Financing cash flows from finance leases	399		246
Right-of-use assets obtained in exchange for new finance lease liabilities	213		—
Right-of-use assets obtained in exchange for new operating lease liabilities	977		2,467

	April 5, 2020		December 29, 2019
Weighted-average remaining lease term – finance leases (in years)	2.68		2.76
Weighted-average remaining lease term – operating leases (in years)	10.60		10.60
Weighted-average discount rate – finance leases	2.19	%	2.06	%
Weighted-average discount rate – operating leases	5.89	%	5.86	%

Lease Liability Maturity Schedule

Maturity analysis of lease payments under non-cancellable leases were as follows:

Fiscal Year	Operating Leases			Finance Leases
	(In thousands)
2020 (excluding first quarter of 2020)	$	15,659		$	1,166
2021	17,197			870
2022	13,758			522
2023	11,447			306
2024	9,918			110
Thereafter	74,449			—
Total future minimum lease payments (undiscounted)	142,428			2,974
Less: Present value discount	(39,769		)	(91		)
Total lease liability	$	102,659		$	2,883

Lease Liability Maturity Schedule

Maturity analysis of lease payments under non-cancellable leases were as follows:

Fiscal Year	Operating Leases			Finance Leases
	(In thousands)
2020 (excluding first quarter of 2020)	$	15,659		$	1,166
2021	17,197			870
2022	13,758			522
2023	11,447			306
2024	9,918			110
Thereafter	74,449			—
Total future minimum lease payments (undiscounted)	142,428			2,974
Less: Present value discount	(39,769		)	(91		)
Total lease liability	$	102,659		$	2,883