Lease Commitments

3 Months Ended

Mar. 30, 2019

Leases [Abstract]

Lease Commitments

Lease Commitments

The company leases certain office, distribution, and other property under non-cancelable operating leases expiring at various dates through 2033. Substantially all leases are classified as operating leases. During the first quarter of 2019, the company recorded operating lease cost of $26,726.

The following amounts were recorded in the consolidated balance sheets at March 30, 2019:

	March 30, 2019
Operating Leases
Right-of-use asset	$	349,077
Lease liability - current	68,603
Lease liability - non-current	302,283
Total operating lease liabilities	$	370,886

Maturities of operating lease liabilities at March 30, 2019 were as follows:

	March 30, 2019
2019	$	75,827
2020	76,035
2021	59,166
2022	46,851
2023	37,177
Thereafter	160,022
Total lease payments	455,078
Less imputed interest	(84,192		)
Total	$	370,886

Other information pertaining to leases consists of the following:

	March 30, 2019
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of operating lease liabilities:	$	37,513
Right-of-use assets obtained in exchange for operating lease obligations:	35,573
Operating Lease Term and Discount Rate
Weighted average remaining lease term in years	8
Weighted average discount rate	5.2		%