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Leases (Tables)
9 Months Ended
Jun. 27, 2020
Leases [Abstract]  
Components of Lease Cost

The components of lease cost reflected in the Consolidated Statement of Operations for the three and nine months ended June 27, 2020 were as follows:

 

(in thousands)

 

Three months ended

 

 

Nine months ended

 

 

 

June 27, 2020

 

 

June 27, 2020

 

Operating lease cost

 

$

10,324

 

 

$

29,467

 

Short-term lease cost

 

 

864

 

 

 

3,754

 

Variable lease cost

 

 

535

 

 

 

3,025

 

Sublease income

 

 

(996

)

 

 

(3,021

)

Total lease cost

 

$

10,727

 

 

$

33,225

 

 

Supplemental cash flow and right-of use assets information for the three and nine months ended June 27, 2020 was as follows:

 

(in thousands)

 

Three months ended

 

 

Nine months ended

 

 

 

June 27, 2020

 

 

June 27, 2020

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

12,127

 

 

$

27,267

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

1,929

 

 

$

6,080

 

Right-of-use assets obtained in exchange for new financing lease liabilities

 

$

 

 

$

1,500

 

 

Supplemental balance sheet information related to the leases as of June 27, 2020 was as follows:

 

 

As of

 

 

June 27, 2020

 

Weighted-average remaining lease term - operating leases

12.52 years

 

Weighted-average remaining lease term - financing leases

5 years

 

Weighted-average discount rate - operating leases

 

5.5

%

Weighted-average discount rate - financing leases

 

3.0

%

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of June 27, 2020 are as follows:

 

(in thousands)

 

Operating Leases

 

Remainder of 2020

 

$

9,935

 

2021

 

 

43,275

 

2022

 

 

29,049

 

2023

 

 

21,584

 

2024

 

 

17,779

 

Thereafter

 

 

186,550

 

Total future lease payments

 

$

308,172

 

Less: imputed interest

 

 

(92,093

)

Total

 

$

216,079

 

Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases Under Prior Lease Standard (ASC 840)

Under the prior lease standard (ASC 840), as of September 30, 2019, future minimum lease payments under non-cancellable operating leases were as follows (in thousands):

 

2020

 

$

31,868

 

2021

 

 

33,094

 

2022

 

 

25,624

 

2023

 

 

19,279

 

2024

 

 

16,909

 

Thereafter

 

 

186,037

 

Total minimum lease payments

 

$

312,811