Leases (Tables)

3 Months Ended

Mar. 28, 2021

The components of operating and finance lease cost for the first quarter of 2021 and the first quarter of 2020 were as follows:


	Fiscal Quarter Ended
	March 28, 2021		March 22, 2020
Operating lease cost	$	10,424	$	9,582
Finance lease cost:
Amortization of right-of-use assets		919		249
Interest on lease liabilities		1,026		375

Total finance lease cost	$	1,945	$	624

Supplemental balance sheet information related to the Company’s finance leases as of March 28, 2021 and January 3, 2021 was as follows:


	March 28, 2021			January 3, 2021
Land and buildings	$	68,489		$	68,084
Accumulated depreciation and amortization		(10,973	)		(10,049	)

Finance lease assets, net	$	57,516		$	58,035

Current portion of long-term debt	$	2,931		$	2,855
Long-term debt, less current portion		57,338			57,700

Total principal payable on finance leases	$	60,269		$	60,555


	March 28, 2021						January 3, 2021
	Operating Leases			Finance Leases			Operating Leases			Finance Leases
Weighted average remaining lease term		7 years			16 years			7 years			16 years
Weighted average discount rate		3.7	%		6.8	%		3.7	%		6.8	%

Supplemental cash flow information related to leases for the first quarter of 2021 and the first quarter of 2020 was as follows:


	Fiscal Quarter Ended
	March 28, 2021		March 22, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,187	$	10,119
Operating cash flows from finance leases		1,026		375
Financing cash flows from finance leases		704		349
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		4,672		8,982
Finance leases		399		—

Maturities of lease liabilities as of March 28, 2021 were as follows:


	Operating Leases			Finance Leases
2021	$	34,764		$	4,620
2022		43,209			6,754
2023		37,620			6,274
2024		36,260			6,732
2025		29,559			6,527
Thereafter		87,007			69,983

Total future minimum rental commitments		268,419			100,890
Less – amounts representing interest		(33,721	)		(40,621	)

Total lease liabilities	$	234,698		$	60,269