Leases

3 Months Ended

Oct. 03, 2020

Leases [Abstract]

Leases

7. Leases

Substantially all the Company’s leases are classified as operating leases and are predominately related to real property for distribution centers, office space and integration facilities with a lease term of up to 18 years. The Company’s equipment leases are primarily for automobiles and equipment, and are not material to the consolidated financial statements.

The components of lease cost related to the Company’s operating leases were as follows (in thousands):

	First Quarters Ended
	October 3, 2020		September 28, 2019
Operating lease cost	$	18,402	$	18,802
Variable lease cost		6,288		5,268
Total lease cost	$	24,690	$	24,070

Future minimum operating lease payments as of October 3, 2020 are as follows (in thousands):

Fiscal Year
Remainder of fiscal 2021	$	51,333
2022		59,795
2023		50,999
2024		38,900
2025		32,006
Thereafter		156,634
Total future operating lease payments		389,667
Total imputed interest on operating lease liabilities		(67,905)
Total operating lease liabilities	$	321,762

Other information pertaining to operating leases consists of the following:

	First Quarters Ended
	October 3, 2020		September 28, 2019
Operating Lease Term and Discount Rate
Weighted-average remaining lease term in years	9.3		9.6
Weighted-average discount rate	3.8	%	3.8	%

Supplemental cash flow information related to the Company’s operating leases for the first quarters ended October 3, 2020 and September 28, 2019, respectively, was as follows (in thousands):

	First Quarters Ended
	October 3, 2020		September 28, 2019
Supplemental Cash Flow Information:
Cash paid for operating lease liabilities	$	14,710	$	15,322
Operating lease assets obtained from new operating lease liabilities		21,718		6,404