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v3.22.2.2

LEASES (Tables) | 12 Months Ended
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Oct. 29, 2022
Leases [Abstract] |
Leases included in balance sheet | Leases included in the Consolidated Balance Sheets for the fiscal periods indicated were as follows (in thousands):
| Classification |  | Balance at October 29, 2022 |  | Balance at October 30, 2021
Operating leases: |  |  |  |  |
Operating ROU Assets | Operating right-of-use assets |  | $ | 45,108 |  |  | $ | 44,285 |
Operating lease liabilities | Operating lease liabilities and Long-term operating lease liabilities |  | $ | 61,317 |  |  | $ | 60,196 |
Finance leases: |  |  |  |  |
Buildings, gross | Equipment, building, furniture and fixtures, net |  | $ | 69,247 |  |  | $ | 76,123 |
Less: accumulated depreciation | Equipment, building, furniture and fixtures, net |  | (26,266) |  |  | (24,027) |
Buildings, net |  |  | $ | 42,981 |  |  | $ | 52,096 |
Finance lease liabilities | Accrued liabilities and other short-term obligations and other long-term obligations |  | $ | 56,934 |  |  | $ | 66,203 |
Components of lease expense | For the periods indicated, the components of lease expense included in the Consolidated Statements of Operations were as follows (in thousands):
|  |  | Year Ended |  | Year Ended |  | Year Ended
| Classification |  | October 29, 2022 |  | October 30, 2021 |  | October 31, 2020
Operating lease costs | Operating expense |  | $ | 17,966 |  |  | $ | 16,602 |  |  | $ | 17,544 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of finance ROU asset | Operating expense |  | 4,592 |  |  | 4,773 |  |  | 4,465 |
Interest on finance lease liabilities | Interest expense |  | 4,601 |  |  | 4,882 |  |  | 4,777 |
Total finance lease cost |  |  | 9,193 |  |  | 9,655 |  |  | 9,242 |
Non-capitalized lease cost | Operating expense |  | 917 |  |  | 1,152 |  |  | 2,976 |
Variable lease cost(1) | Operating expense |  | 5,898 |  |  | 5,690 |  |  | 5,185 |
Net lease cost(2) |  |  | $ | 33,974 |  |  | $ | 33,099 |  |  | $ | 34,947 |
(1) Variable lease costs include expenses relating to insurance, taxes, maintenance and other costs required by the applicable operating lease. Variable lease costs are determined by whether they are to be included in base rent and if amounts are based on a consumer price index. (2) Excludes other operating expense of $12.8 million, $8.8 million, and $11.0 million for the fiscal years ended October 29, 2022, October 30, 2021, and October 31, 2020, respectively, related to amortization of leasehold improvements. The weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows (in thousands):
Weighted-average remaining lease term in years: | As of October 29, 2022 |  | As of October 30, 2021
Operating leases | 3.85 |  | 4.06
Finance leases | 9.71 |  | 10.71
Weighted-average discount rates: |  |  |
Operating leases | 2.97 | % |  | 2.49 | %
Finance leases | 7.56 | % |  | 7.56 | %
Future minimum lease payments, operating lease | Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of October 29, 2022 were as follows (in thousands):
| Operating Leases |  | Finance Leases |  | Total
2023 | $ | 20,401 |  |  | $ | 7,791 |  |  | $ | 28,192 |
2024 | 16,795 |  |  | 7,791 |  |  | 24,586 |
2025 | 12,387 |  |  | 7,947 |  |  | 20,334 |
2026 | 8,879 |  |  | 7,979 |  |  | 16,858 |
2027 | 4,435 |  |  | 8,255 |  |  | 12,690 |
Thereafter | 2,245 |  |  | 40,588 |  |  | 42,833 |
Total lease payments | 65,142 |  |  | 80,351 |  |  | 145,493 |
Less: Imputed interest | (3,825) |  |  | (23,417) |  |  | (27,242) |
Present value of lease liabilities | 61,317 |  |  | 56,934 |  |  | 118,251 |
Less: Current portion of present value of minimum lease payments | 18,925 |  |  | 3,758 |  |  | 22,683 |
Long-term portion of present value of minimum lease payments | $ | 42,392 |  |  | $ | 53,176 |  |  | $ | 95,568 |
Future minimum lease payments, finance lease | Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of October 29, 2022 were as follows (in thousands):
| Operating Leases |  | Finance Leases |  | Total
2023 | $ | 20,401 |  |  | $ | 7,791 |  |  | $ | 28,192 |
2024 | 16,795 |  |  | 7,791 |  |  | 24,586 |
2025 | 12,387 |  |  | 7,947 |  |  | 20,334 |
2026 | 8,879 |  |  | 7,979 |  |  | 16,858 |
2027 | 4,435 |  |  | 8,255 |  |  | 12,690 |
Thereafter | 2,245 |  |  | 40,588 |  |  | 42,833 |
Total lease payments | 65,142 |  |  | 80,351 |  |  | 145,493 |
Less: Imputed interest | (3,825) |  |  | (23,417) |  |  | (27,242) |
Present value of lease liabilities | 61,317 |  |  | 56,934 |  |  | 118,251 |
Less: Current portion of present value of minimum lease payments | 18,925 |  |  | 3,758 |  |  | 22,683 |
Long-term portion of present value of minimum lease payments | $ | 42,392 |  |  | $ | 53,176 |  |  | $ | 95,568 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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