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Leases | 12 Months Ended
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Oct. 02, 2020
Leases [Abstract] |
Leases | LeasesThe components of lease expense (reflected in selling, general and administrative expenses) for th e year ended October 2, 2020 were as follows (in thousands):
|  |  |  | Year Ended
Lease cost |  |  |  |
Operating lease cost |  |  |  | $ | 169,967 |
Variable lease cost |  |  |  | 35,083 |
Sublease income |  |  |  | (14,719) |
Total lease cost |  |  |  | $ | 190,331 |
Supplemental information related to the Company's leases for the year ended October 2, 2020 was as follows (in thousands):
|  | Year Ended
Cash paid for amounts included in the measurements of lease liabilities |  | $ | 195,345 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 66,761 |
Weighted average remaining lease term - operating leases |  | 7 years
Weighted average discount rate - operating leases |  | 2.7%
Total remaining lease payments under the Company's leases for each of the succeeding years is as follows (in thousands):
Fiscal Year |  | Operating Leases
2021 |  | $ | 184,967 |
2022 |  | 163,166 |
2023 |  | 144,668 |
2024 |  | 127,472 |
2025 |  | 107,866 |
Thereafter |  | 266,539 |
|  | 994,678 |
Less Interest |  | (95,164) |
|  | $ | 899,514 |
Right-of-Use and Other Long-Lived Asset Impairment In the fourth fiscal quarter of 2020, as a result and in consideration of the impacts of the COVID-19 pandemic and the changing nature of the Company's use of office space for its workforce, the Company evaluated its existing real estate lease portfolio as part of its transformation initiatives related to real estate and staffing programs. These initiatives during the fourth quarter resulted in the actual abandonment of certain leased office spaces and the establishment of a formal plan to sublease certain other leased spaces that will no longer be utilized by the Company. In connection with the Company’s actions related to these initiatives, the Company evaluated certain of its lease right-of-use assets and related property, equipment and leasehold improvements for impairment under ASC 360. As a result of the analysis, the Company recognized an impairment loss during the fourth quarter of fiscal 2020 of $162 million, which is included in selling, general and administrative expenses in the accompanying statement of earnings for the fiscal year ended October 2, 2020. The impairment loss recorded includes $127 million related to right-of-use lease assets and $35 million related to other long-lived assets, including property, equipment and improvements and leasehold improvements. The fair values for the asset groups relating to the impaired long-lived assets were estimated primarily using discounted cash flow models (income approach) with Level 3 inputs. The significant assumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods and discount rates that reflects the level of risk associated with receiving future cash flows.
Leases | LeasesThe components of lease expense (reflected in selling, general and administrative expenses) for th e year ended October 2, 2020 were as follows (in thousands):
|  |  |  | Year Ended
Lease cost |  |  |  |
Operating lease cost |  |  |  | $ | 169,967 |
Variable lease cost |  |  |  | 35,083 |
Sublease income |  |  |  | (14,719) |
Total lease cost |  |  |  | $ | 190,331 |
Supplemental information related to the Company's leases for the year ended October 2, 2020 was as follows (in thousands):
|  | Year Ended
Cash paid for amounts included in the measurements of lease liabilities |  | $ | 195,345 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 66,761 |
Weighted average remaining lease term - operating leases |  | 7 years
Weighted average discount rate - operating leases |  | 2.7%
Total remaining lease payments under the Company's leases for each of the succeeding years is as follows (in thousands):
Fiscal Year |  | Operating Leases
2021 |  | $ | 184,967 |
2022 |  | 163,166 |
2023 |  | 144,668 |
2024 |  | 127,472 |
2025 |  | 107,866 |
Thereafter |  | 266,539 |
|  | 994,678 |
Less Interest |  | (95,164) |
|  | $ | 899,514 |
Right-of-Use and Other Long-Lived Asset Impairment In the fourth fiscal quarter of 2020, as a result and in consideration of the impacts of the COVID-19 pandemic and the changing nature of the Company's use of office space for its workforce, the Company evaluated its existing real estate lease portfolio as part of its transformation initiatives related to real estate and staffing programs. These initiatives during the fourth quarter resulted in the actual abandonment of certain leased office spaces and the establishment of a formal plan to sublease certain other leased spaces that will no longer be utilized by the Company. In connection with the Company’s actions related to these initiatives, the Company evaluated certain of its lease right-of-use assets and related property, equipment and leasehold improvements for impairment under ASC 360. As a result of the analysis, the Company recognized an impairment loss during the fourth quarter of fiscal 2020 of $162 million, which is included in selling, general and administrative expenses in the accompanying statement of earnings for the fiscal year ended October 2, 2020. The impairment loss recorded includes $127 million related to right-of-use lease assets and $35 million related to other long-lived assets, including property, equipment and improvements and leasehold improvements. The fair values for the asset groups relating to the impaired long-lived assets were estimated primarily using discounted cash flow models (income approach) with Level 3 inputs. The significant assumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods and discount rates that reflects the level of risk associated with receiving future cash flows.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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