Lease Commitments

9 Months Ended

Sep. 28, 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 third quarter and first nine months of 2019, the company recorded operating lease cost of $29,950 and $79,940, respectively.

The following amounts were recorded in the consolidated balance sheets at September 28, 2019:

	September 28, 2019
Operating Leases
Right-of-use asset	$	294,722
Lease liability - current	59,997
Lease liability - non-current	278,191
Total operating lease liabilities	$	338,188

Maturities of operating lease liabilities at September 28, 2019 were as follows:

	September 28, 2019
2019	$	31,117
2020	79,814
2021	63,428
2022	49,874
2023	39,302
Thereafter	167,937
Total lease payments	431,472
Less: imputed interest	(93,284		)
Total	$	338,188

Other information pertaining to leases consists of the following:

	September 28, 2019
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of operating lease liabilities	$	74,752
Right-of-use assets obtained in exchange for operating lease obligations	49,349
Operating Lease Term and Discount Rate
Weighted-average remaining lease term in years	7
Weighted-average discount rate	5.1		%