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LEASES (Tables) | 3 Months Ended
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Jan. 26, 2020
Leases [Abstract] |
Schedule of supplemental balance sheet information | The weighted-average remaining lease term and discount rate for lease liabilities included in the Consolidated Statements of Financial Position as of January 26, 2020, are as follows:
|  | January 26, 2020
Weighted Average Remaining Lease Term |  |
Operating Leases |  | 7.57 years |
Finance Leases |  | 8.83 years |
Weighted Average Discount Rate |  |
Operating Leases |  | 2.30 | %
Finance Leases |  | 3.58 | %
Supplemental balance sheet information related to leases as of January 26, 2020, are as follows:
(in thousands) | Location on Consolidated Statements of Financial Position |  | January 26, 2020
Right-of-Use Assets |  |  |  |
Operating | Other Assets |  | $ | 60,226 |
Finance | Net Property, Plant and Equipment |  | 67,126 |
Total Right-of-Use Assets |  | $ | 127,352 |
Liabilities |  |  |
Current |  |  |
Operating | Accrued Expenses |  | $ | 13,728 |
Finance | Current Maturities of Long-Term Debt |  | 8,259 |
Noncurrent |  |  |
Operating | Other Long-Term Liabilities |  | 48,561 |
Finance | Long-Term Debt - Less Current Maturities |  | 58,972 |
Total Lease Liabilities |  |  | $ | 129,520 |
Schedule of lease expenses and supplemental cash flow and other information related to leases | Supplemental cash flow and other information related to leases for the three months ended January 26, 2020, are as follows:
(in thousands) |  | January 26, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities |  |  |
Operating Cash Flows from Operating Leases |  | $ | 3,057 |
Operating Cash Flows from Finance Leases |  | 605 |
Financing Cash Flows from Finance Leases |  | 2,019 |
Lease expenses for the three months ended January 26, 2020, are as follows:
(in thousands) |  | January 26, 2020
Operating Lease Cost (1) |  | $ | 5,124 |
Finance Lease Cost |  |  |
Amortization of Right-of-Use Assets |  | 1,999 |
Interest on Lease Liabilities |  | 605 |
Variable Lease Cost (2) |  | 102,668 |
Net Lease Cost |  | $ | 110,396 |
(1) | Includes short-term lease costs, which are immaterial.
(2) | ASC 842 - Leases requires disclosure of payments related to agreements with an embedded lease that are not otherwise reflected on the balance sheet. The Company's variable lease costs primarily include inventory related expenses, such as materials, labor, and overhead, from manufacturing and service agreements that contain embedded leases. Variability of these costs is determined based on usage or output and may vary for other reasons such as changes in material prices.
Schedule of maturities of financing lease liabilities | The maturity of the Company's lease liabilities as of January 26, 2020, are as follows:
(in thousands) | Operating Leases (1) |  | Finance Leases (2) |  | Total
2020 (nine months remaining) | $ | 11,691 |  |  | $ | 7,891 |  |  | $ | 19,582 |
2021 | 11,653 |  |  | 10,338 |  |  | 21,991 |
2022 | 9,139 |  |  | 9,934 |  |  | 19,072 |
2023 | 8,157 |  |  | 9,738 |  |  | 17,895 |
2024 | 5,730 |  |  | 9,612 |  |  | 15,341 |
2025 | 3,396 |  |  | 8,117 |  |  | 11,513 |
2026 and beyond | 18,644 |  |  | 21,192 |  |  | 39,836 |
Total Lease Payments | $ | 68,410 |  |  | $ | 76,821 |  |  | $ | 145,231 |
Less: Imputed Interest | 6,120 |  |  | 9,591 |  |  | 15,711 |
Present Value of Lease Liabilities | $ | 62,290 |  |  | $ | 67,230 |  |  | $ | 129,520 |
(1) Operating lease payments exclude $3.6 million of legally binding minimum lease payments for leases signed but not yet commenced.
Schedule of maturities of operating lease liabilities | The maturity of the Company's lease liabilities as of January 26, 2020, are as follows:
(in thousands) | Operating Leases (1) |  | Finance Leases (2) |  | Total
2020 (nine months remaining) | $ | 11,691 |  |  | $ | 7,891 |  |  | $ | 19,582 |
2021 | 11,653 |  |  | 10,338 |  |  | 21,991 |
2022 | 9,139 |  |  | 9,934 |  |  | 19,072 |
2023 | 8,157 |  |  | 9,738 |  |  | 17,895 |
2024 | 5,730 |  |  | 9,612 |  |  | 15,341 |
2025 | 3,396 |  |  | 8,117 |  |  | 11,513 |
2026 and beyond | 18,644 |  |  | 21,192 |  |  | 39,836 |
Total Lease Payments | $ | 68,410 |  |  | $ | 76,821 |  |  | $ | 145,231 |
Less: Imputed Interest | 6,120 |  |  | 9,591 |  |  | 15,711 |
Present Value of Lease Liabilities | $ | 62,290 |  |  | $ | 67,230 |  |  | $ | 129,520 |
(1) | Operating lease payments exclude $3.6 million of legally binding minimum lease payments for leases signed but not yet commenced.
(2) Over the life of the lease contracts, finance lease payments include $8.9 million related to purchase options which are reasonably certain of being exercised.

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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 http://asc.fasb.org/extlink&oid=77888426&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 http://asc.fasb.org/extlink&oid=77888426&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 http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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