Leases

12 Months Ended

Dec. 30, 2023

Leases [Abstract]

Leases

LEASES

The Company leases certain real and personal property under non-cancelable operating leases. In addition, the Company leases a large portion of the Company’s fleet of tractors, all of its rail cars, some IT equipment and other

transportation equipment. The Company’s office leases include certain lease and non-lease components, where the Company has elected to exclude the non-lease components from the calculation of the lease liability and ROU asset. The Company has finance leases, which are not significant to the Company and not separately disclosed in detail. In addition, the Company’s other variable lease payments are not significant.

The components of operating lease expense included in cost of sales and operating expenses and selling, general and administrative expenses were as follows (in thousands):

	Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Operating lease expense	$	56,078	$	49,377	$	48,049
Short-term lease costs	36,762		31,133		25,141
Total lease cost	$	92,840	$	80,510	$	73,190

Other information (in thousands, except lease terms and discount rates):

	Year Ended
	December 30, 2023			December 31, 2022			January 1, 2022
Cash paid for amounts included in the measurement lease liabilities:
Operating cash flows from operating leases	$	58,924		$	53,359		$	50,258
Operating right-of-use assets, net	$	205,539		$	186,141
Operating lease liabilities, current	$	55,325		$	49,232
Operating lease liabilities, non-current	154,903			141,703
Total operating lease liabilities	$	210,228		$	190,935
Weighted average remaining lease term - operating leases	6.25 years			6.34 years
Weighted average discount rate - operating leases	4.59		%	3.89		%

Future annual minimum lease payments and finance lease commitments as of December 30, 2023 were as follows (in thousands):

Period Ending Fiscal	Operating Leases		Finance Leases
2024	$	63,199	$	4,349
2025	54,302		4,176
2026	37,342		2,732
2027	29,267		2,250
2028	17,831		1,759
Thereafter	40,192		706
	242,133		15,972
Less amounts representing interest	(31,905)		(1,099)
Lease obligations included in current and long-term liabilities	210,228		14,873

The Company’s finance lease assets are included in property, plant and equipment and the finance lease obligations are included in the Company’s current and long-term debt obligations on the consolidated balance sheet.

Leases

LEASES

The Company leases certain real and personal property under non-cancelable operating leases. In addition, the Company leases a large portion of the Company’s fleet of tractors, all of its rail cars, some IT equipment and other

transportation equipment. The Company’s office leases include certain lease and non-lease components, where the Company has elected to exclude the non-lease components from the calculation of the lease liability and ROU asset. The Company has finance leases, which are not significant to the Company and not separately disclosed in detail. In addition, the Company’s other variable lease payments are not significant.

The components of operating lease expense included in cost of sales and operating expenses and selling, general and administrative expenses were as follows (in thousands):

	Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Operating lease expense	$	56,078	$	49,377	$	48,049
Short-term lease costs	36,762		31,133		25,141
Total lease cost	$	92,840	$	80,510	$	73,190

Other information (in thousands, except lease terms and discount rates):

	Year Ended
	December 30, 2023			December 31, 2022			January 1, 2022
Cash paid for amounts included in the measurement lease liabilities:
Operating cash flows from operating leases	$	58,924		$	53,359		$	50,258
Operating right-of-use assets, net	$	205,539		$	186,141
Operating lease liabilities, current	$	55,325		$	49,232
Operating lease liabilities, non-current	154,903			141,703
Total operating lease liabilities	$	210,228		$	190,935
Weighted average remaining lease term - operating leases	6.25 years			6.34 years
Weighted average discount rate - operating leases	4.59		%	3.89		%

Future annual minimum lease payments and finance lease commitments as of December 30, 2023 were as follows (in thousands):

Period Ending Fiscal	Operating Leases		Finance Leases
2024	$	63,199	$	4,349
2025	54,302		4,176
2026	37,342		2,732
2027	29,267		2,250
2028	17,831		1,759
Thereafter	40,192		706
	242,133		15,972
Less amounts representing interest	(31,905)		(1,099)
Lease obligations included in current and long-term liabilities	210,228		14,873

The Company’s finance lease assets are included in property, plant and equipment and the finance lease obligations are included in the Company’s current and long-term debt obligations on the consolidated balance sheet.