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LEASES (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Components of Lease Expense | Supplemental cash flow information related to leases is as follows (in thousands):
| Twenty-Six Weeks Ended
| June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 49,987 |
Financing cash flows from finance leases | 48 |
Operating lease assets obtained in exchange for operating lease liabilities | $ | 17,565 |
The following table presents components of lease expense. Operating lease cost, finance lease amortization and finance lease interest are respectively included in Cost of sales, Selling, general and administrative expense and Interest expense, net of capitalized interest in the Condensed Consolidated Statements of Income.
| Thirteen Weeks Ended |  | Twenty-Six Weeks Ended
| June 30, 2019 |  | June 30, 2019
| (In thousands)
Operating lease cost (a) | $ | 25,804 |  |  | $ | 51,467 |
Amortization of finance lease liabilities | 21 |  |  | 48 |
Interest on finance leases | 3 |  |  | 6 |
Short-term and variable lease cost | 11,892 |  |  | 26,110 |
Net lease cost | $ | 37,720 |  |  | $ | 77,631 |
(a) Sublease income is immaterial and not included in operating lease costs.
Balance Sheet Information Related to Leases | The weighted-average remaining lease term and discount rate for lease liabilities included in our Condensed Consolidated Balance Sheet are as follows:
| June 30, 2019
Weighted-average remaining lease term (years): |
Operating leases | 5.89 |
Finance leases | 1.36 |
Weighted-average discount rate: |
Operating leases | 4.86 | %
Finance leases | 8.50 | %
Lease liabilities as of June 30, 2019 are included in our Condensed Consolidated Balance Sheet as follows (in thousands):
| Operating Leases |  | Finance Leases
Accrued expenses and other current liabilities | $ | 74,975 |  |  | $ | 1 |
Current maturities of long-term debt | — |  |  | 90 |
Noncurrent operating lease liability, less current maturities | 243,661 |  |  | — |
Long-term debt, less current maturities | — |  |  | 41 |
Total lease liabilities | $ | 318,636 |  |  | $ | 132 |
Maturities of Finance Lease Liability | Future minimum lease payments under noncancellable leases at June 30, 2019 are as follows (in thousands):
| Operating Leases |  | Finance Leases
For the fiscal years ending December: |  |  |
Year 1 | $ | 88,181 |  |  | $ | 98 |
Year 2 | 65,947 |  |  | 43 |
Year 3 | 56,513 |  |  | — |
Year 4 | 47,836 |  |  | — |
Year 5 | 37,267 |  |  | — |
Thereafter | 70,608 |  |  | — |
Total future minimum lease payments | 366,352 |  |  | 141 |
Less: imputed interest | 47,716 |  |  | 9 |
Present value of lease liabilities | $ | 318,636 |  |  | $ | 132 |
Maturities of Operating Lease Liability | Future minimum lease payments under noncancellable leases at June 30, 2019 are as follows (in thousands):
| Operating Leases |  | Finance Leases
For the fiscal years ending December: |  |  |
Year 1 | $ | 88,181 |  |  | $ | 98 |
Year 2 | 65,947 |  |  | 43 |
Year 3 | 56,513 |  |  | — |
Year 4 | 47,836 |  |  | — |
Year 5 | 37,267 |  |  | — |
Thereafter | 70,608 |  |  | — |
Total future minimum lease payments | 366,352 |  |  | 141 |
Less: imputed interest | 47,716 |  |  | 9 |
Present value of lease liabilities | $ | 318,636 |  |  | $ | 132 |
Maturities of Capital Lease Liability | Future minimum lease payments under capital and noncancellable operating leases with terms exceeding one year at December 30, 2018 were as follows (in thousands):
| Capital Lease Obligations |  | Noncancellable Operating Lease Obligations
For the fiscal years ending December: |  |  |
Year 1 | $ | 2,971 |  |  | $ | 84,220 |
Year 2 | 1,033 |  |  | 63,196 |
Year 3 | 36 |  |  | 53,908 |
Year 4 | 3 |  |  | 45,557 |
Year 5 | — |  |  | 36,136 |
Thereafter | — |  |  | 66,637 |
Net minimum lease payments | 4,043 |  |  | $ | 349,654 |
Amount representing interest | (337 | ) |  |
Present value of net minimum lease payments | $ | 3,706 |  |  |
Noncancellable Operating Lease Obligations | Future minimum lease payments under capital and noncancellable operating leases with terms exceeding one year at December 30, 2018 were as follows (in thousands):
| Capital Lease Obligations |  | Noncancellable Operating Lease Obligations
For the fiscal years ending December: |  |  |
Year 1 | $ | 2,971 |  |  | $ | 84,220 |
Year 2 | 1,033 |  |  | 63,196 |
Year 3 | 36 |  |  | 53,908 |
Year 4 | 3 |  |  | 45,557 |
Year 5 | — |  |  | 36,136 |
Thereafter | — |  |  | 66,637 |
Net minimum lease payments | 4,043 |  |  | $ | 349,654 |
Amount representing interest | (337 | ) |  |
Present value of net minimum lease payments | $ | 3,706 |  |  |

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