XML 72 R14.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Leases | 12 Months Ended
--- | ---
Dec. 29, 2019
Leases [Abstract] |
Leases | Leases As a result of a lease modification for its expanded facilities in Colorado, in the first quarter of 2019, the Company was required to reassess the classification of the lease which previously had been accounted for as an operating lease. This reassessment resulted in the reclassification of the operating lease to a $39.3 million finance lease. The components of lease expense for the year ended December 29, 2019 were as follows (in millions):
Amortization of right of use assets - finance leases |  |  | $ | 2.0 |
Interest expense on lease liabilities - finance leases |  |  | 2.5 |
Operating lease cost (expense resulting from amortization of total lease payments) |  |  | 13.2 |
Short-term lease cost |  |  | 0.6 |
Variable lease cost (cost excluded from lease payments) |  |  | 0.1 |
Sublease income |  |  | (3.3 | )
Total lease cost |  |  | $ | 15.1 |
The components of leases on the balance sheet were as follows (in millions):
| December 29, 2019
Operating Leases: |
Operating lease right-of-use assets | $ | 42.1 |
Current portion of operating lease liabilities | $ | 9.9 |
Operating lease liabilities, net of current portion | $ | 37.6 |
Finance leases: |
Property, plant and equipment, net | $ | 38.1 |
Other current liabilities | $ | 0.6 |
Other long-term liabilities | $ | 38.4 |
Cash paid for amounts included in the measurement of lease liabilities for the year ended December 29, 2019 was as follows (in millions):
Finance lease - cash paid for interest |  |  | $ | 2.5 |
Finance lease - financing cash flows |  |  | $ | 0.5 |
Operating lease - operating cash flows (fixed payments) |  |  | $ | 14.8 |
Other supplemental noncash information (in millions):
Operating lease liabilities arising from obtaining right-of-use assets, including impact of ASC 842 adoption |  | $ | 59.3 |
Finance lease liabilities arising from obtaining right-of-use assets, including impact of ASC 842 adoption |  | $ | 39.6 |
Weighted-average remaining lease term (in years): |  |  |
Operating leases |  |  | 5.77 |
Finance leases |  |  | 18.91 |
Weighted-average discount rate: |  |  |
Operating leases |  |  | 6.50 | %
Finance leases |  |  | 6.52 | %
The maturity of lease liabilities is (in millions):
| Operating Leases |  | Finance Leases
2020 | $ | 12.6 |  |  | $ | 3.1 |
2021 | 10.0 |  |  | 3.2 |
2022 | 8.6 |  |  | 3.3 |
2023 | 8.2 |  |  | 3.3 |
2024 | 6.2 |  |  | 3.3 |
Thereafter | 11.6 |  |  | 54.0 |
Total lease payments | 57.2 |  |  | 70.2 |
Less: imputed interest | (9.6 | ) |  | (31.2 | )
Total present value of lease liabilities | $ | 47.6 |  |  | $ | 39.0 |
Rental expense for operating leases classified under ASC 840 for the years ended December 30, 2018, and December 31, 2017 was $23.7 million, and $18.6 million, respectively. Total sublease income for the years ended December 30, 2018, and December 31, 2017, totaling $3.3 million, and $3.4 million, respectively, has been netted against rent expense. As of December 30, 2018, future minimum lease payments under ASC 840 for operating leases, which does not include $4.3 million in sublease income on the Company’s operating leases, were as follows (in millions):
Year | Operating Leases
2019 | $ | 16.5 |
2020 | 12.0 |
2021 | 9.6 |
2022 | 8.1 |
2023 | 7.9 |
Thereafter | 63.1 |
Total minimum lease payments | $ | 117.2 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
Name: | us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration