Leases (Tables)

6 Months Ended

Jul. 05, 2020

Balance Sheet Information, Lessee [Table Text Block]

The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to our leases as of July 5, 2020 and December 29, 2019:



	July 5, 2020				December 29, 2019
Balance Sheet Location	Operating Leases		Finance Leases		Operating Leases		Finance Leases
	(In thousands)
Operating lease right-of-use assets	$	100,091			$	107,044

Current portion of operating lease liabilities	$	14,124			$	15,914
Operating lease liabilities	86,716				91,829
Total operating lease liabilities	$	100,840			$	107,743

Property and equipment			$	4,954			$	5,007

Accrued expenses			$	1,455			$	1,489
Other long-term liabilities			1,485				1,673
Total finance lease liabilities			$	2,940			$	3,162

Schedule of Lease Cost

Lease Costs



	Three Months Ended				Six Months Ended
	July 5, 2020		June 30, 2019		July 5, 2020		June 30, 2019
Lease cost	(In thousands)
Finance lease cost:
Amortization of right-of-use assets	$	335	$	278	$	635	$	424
Interest on lease liabilities	16		11		34		19
Operating lease cost	6,759		5,930		12,981		11,601
Short-term lease cost	166		408		341		1,146
Variable lease cost	924		613		1,570		758
Total lease cost	$	8,200	$	7,240	$	15,561	$	13,948

Other supplemental information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	16	$	11	$	34	$	19
Operating cash flows from operating leases	5,569		5,395		11,450		10,505
Financing cash flows from finance leases	411		271		810		517
Right-of-use assets obtained in exchange for new finance lease liabilities	340		551		553		551
Right-of-use assets obtained in exchange for new operating lease liabilities	3,088		4,069		4,065		6,536

Weighted Average Lease Term And Discount Rate, Lessee [Table Text Block]

The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of July 5, 2020 and December 29, 2019:



	July 5, 2020		December 29, 2019
Weighted-average remaining lease term – finance leases (in years)	2.70		2.76
Weighted-average remaining lease term – operating leases (in years)	10.62		10.60
Weighted-average discount rate – finance leases	2.37	%	2.06	%
Weighted-average discount rate – operating leases	5.93	%	5.86	%

Lease Liability Maturity Schedule

A maturity analysis of lease payments under non-cancellable leases is presented as follows:



Fiscal Year	Operating Leases			Finance Leases
	(In thousands)
2020 (excluding the six months ended July 5, 2020)	$	10,334		$	816
2021	17,476			1,063
2022	14,369			619
2023	11,850			400
2024	10,120			141
Thereafter	75,880			—
Total future minimum lease payments (undiscounted)	140,029			3,039
Less: Present value discount	(39,189		)	(99		)
Total lease liability	$	100,840		$	2,940

Lease Liability Maturity Schedule

A maturity analysis of lease payments under non-cancellable leases is presented as follows:



Fiscal Year	Operating Leases			Finance Leases
	(In thousands)
2020 (excluding the six months ended July 5, 2020)	$	10,334		$	816
2021	17,476			1,063
2022	14,369			619
2023	11,850			400
2024	10,120			141
Thereafter	75,880			—
Total future minimum lease payments (undiscounted)	140,029			3,039
Less: Present value discount	(39,189		)	(99		)
Total lease liability	$	100,840		$	2,940