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Leases (Tables)
9 Months Ended 12 Months Ended
Jun. 26, 2020
Sep. 27, 2019
Leases [Abstract]    
Assets and Liabilities Lessee
The following table summarizes the location of the operating and finance leases in the Company’s Condensed Consolidated Balance Sheets as of June 26, 2020 (in thousands), as well as the weighted average remaining lease term and weighted average discount rate:
LeasesBalance Sheet LocationJune 26, 2020
Assets:
Operating1
Operating Lease Right-of-use Assets$551,002  
FinanceProperty and Equipment, net130,935  
Total lease assets$681,937  
Liabilities:
Current
Operating1
Current operating lease liabilities$74,971  
    FinanceCurrent maturities of long-term borrowings29,929  
Noncurrent
    Operating1
Noncurrent Operating Lease Liabilities336,915  
    FinanceLong-term borrowings107,457  
Total lease liabilities$549,272  
Weighted average remaining lease term (in years)
    Operating leases8.7
    Finance leases8.4
Weighted average discount rate
    Operating leases3.6 %
    Finance leases4.1 %

(1)Includes the write-down of certain rental properties from disposal by abandonment during the third quarter of fiscal 2020 (see Note 1).
 
Lease, Cost
The following table summarizes the location of lease related costs in the Condensed Consolidated Statements of (Loss) Income for the three and nine months ended June 26, 2020 (in thousands):
Three Months EndedNine Months Ended
Lease CostIncome Statement LocationJune 26, 2020June 26, 2020
Operating lease cost1:
Fixed lease costs
Cost of services provided
$29,734  $89,589  
Variable lease costs2
Cost of services provided
17,785  345,478  
Short-term lease costs
Cost of services provided
10,092  50,879  
Finance lease cost3:
Amortization of right-of-use-assets
Depreciation and amortization
7,875  23,440  
Interest on lease liabilities
Interest and Other Financing Costs, net
1,356  3,971  
Net lease cost
$66,842  $513,357  

(1)
Excludes sublease income, which is immaterial.
(2)
Includes $12.2 million and $334.4 million of costs related to leases associated with revenue contracts with customers for the three and nine month periods of fiscal 2020, respectively. These costs represent the rent the Company pays its clients to operate at their locations, typically based on a percentage of sales. The significant decrease in variable lease costs during the third quarter of fiscal 2020 was due to COVID-19's impact on certain of our businesses.
(3)
Excludes variable lease costs, which are immaterial.
 
Lease, Supplemental Cash Flow Information
Supplemental cash flow information related to leases for the period reported is as follows (in thousands):
Nine Months Ended
June 26, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases(1)
$101,366  
Operating cash flows from finance leases
3,908  
Financing cash flows from finance leases
25,956  
Right-of-use lease assets obtained in exchange for lease obligations:
Operating leases
$69,825  
Finance leases
14,383  

(1)
Excludes cash paid for variable and short-term lease costs of $373.4 million and $50.9 million, respectively, that are not included within the measurement of lease liabilities..
 
Finance Lease, Liability, Maturity
Future minimum lease payments under non-cancelable leases as of June 26, 2020 are as follows (in thousands):
Operating leasesFinance leasesTotal
Remainder of 2020$23,603  $8,532  $32,135  
202184,816  29,917  114,733  
202266,621  23,228  89,849  
202353,634  18,247  71,881  
202446,306  15,511  61,817  
Thereafter212,710  56,562  269,272  
Total future minimum lease payments487,690  151,997  639,687  
Less: Interest(75,804) (14,611) (90,415) 
Present value of lease liabilities$411,886  $137,386  $549,272  
 
Lessee, Operating Lease, Liability, Maturity
Future minimum lease payments under non-cancelable leases as of June 26, 2020 are as follows (in thousands):
Operating leasesFinance leasesTotal
Remainder of 2020$23,603  $8,532  $32,135  
202184,816  29,917  114,733  
202266,621  23,228  89,849  
202353,634  18,247  71,881  
202446,306  15,511  61,817  
Thereafter212,710  56,562  269,272  
Total future minimum lease payments487,690  151,997  639,687  
Less: Interest(75,804) (14,611) (90,415) 
Present value of lease liabilities$411,886  $137,386  $549,272  
 
Schedule of Future Minimum Rental Payments for Operating Leases  
Following is a schedule of the future minimum rental and similar commitments under all non-cancelable operating leases as of September 27, 2019 (in thousands):
2020$101,061  
202174,908  
202256,765  
202343,795  
202436,215  
2025-Thereafter214,818  
Total minimum rental obligations$527,562