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Leases (Tables) | 9 Months Ended
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Sep. 26, 2020
Leases [Abstract] |
Schedule of components of lease expense, lease term, and discount rate | The components of lease costs for the three months ended September 26, 2020 and September 28, 2019 are as follows:
| Three Months Ended September 26, 2020 |  | Three Months Ended September 28, 2019
| Cost of Goods Sold |  | Selling, General and Administrative |  | Total |  | Cost of Goods Sold |  | Selling, General and Administrative |  | Total
Operating lease costs |  |  |  |  |  |  |  |  |  |  |
Fixed | $ | 5,797 |  |  | 25,905 |  |  | 31,702 |  |  | 8,068 |  |  | 25,316 |  |  | 33,384 |
Short-term | 3,036 |  |  | 4,004 |  |  | 7,040 |  |  | 1,092 |  |  | 2,640 |  |  | 3,732 |
Variable | 1,926 |  |  | 6,984 |  |  | 8,910 |  |  | 1,475 |  |  | 7,053 |  |  | 8,528 |
Sub-leases | (95) |  |  | (147) |  |  | (242) |  |  | (114) |  |  | (113) |  |  | (227) |
| $ | 10,664 |  |  | 36,746 |  |  | 47,410 |  |  | 10,521 |  |  | 34,896 |  |  | 45,417 |
| Three Months Ended September 26, 2020 |  | Three Months Ended September 28, 2019
| Depreciation and Amortization |  | Interest |  | Total |  | Depreciation and Amortization |  | Interest |  | Total
Finance lease costs |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets | $ | 1,672 |  |  | — |  |  | 1,672 |  |  | 404 |  |  | — |  |  | 404 |
Interest on lease liabilities | — |  |  | 189 |  |  | 189 |  |  | — |  |  | 102 |  |  | 102 |
| $ | 1,672 |  |  | 189 |  |  | 1,861 |  |  | 404 |  |  | 102 |  |  | 506 |
Net lease costs |  |  |  |  | $ | 49,271 |  |  |  |  |  |  | 45,923 |
The components of lease costs for the nine months ended September 26, 2020 and September 28, 2019 are as follows:
| Nine Months Ended September 26, 2020 |  | Nine Months Ended September 28, 2019
| Cost of Goods Sold |  | Selling, General and Administrative |  | Total |  | Cost of Goods Sold |  | Selling, General and Administrative |  | Total
Operating lease costs |  |  |  |  |  |  |  |  |  |  |
Fixed | $ | 19,086 |  |  | 76,548 |  |  | 95,634 |  |  | 23,925 |  |  | 72,578 |  |  | 96,503 |
Short-term | 8,174 |  |  | 11,689 |  |  | 19,863 |  |  | 4,083 |  |  | 9,126 |  |  | 13,209 |
Variable | 6,316 |  |  | 22,404 |  |  | 28,720 |  |  | 5,846 |  |  | 21,601 |  |  | 27,447 |
Sub-leases | (313) |  |  | (415) |  |  | (728) |  |  | (239) |  |  | (397) |  |  | (636) |
| $ | 33,263 |  |  | 110,226 |  |  | 143,489 |  |  | 33,615 |  |  | 102,908 |  |  | 136,523 |
| Nine Months Ended September 26, 2020 |  | Nine Months Ended September 28, 2019
| Depreciation and Amortization |  | Interest |  | Total |  | Depreciation and Amortization |  | Interest |  | Total
Finance lease costs |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets | $ | 4,402 |  |  | — |  |  | 4,402 |  |  | 1,228 |  |  | — |  |  | 1,228 |
Interest on lease liabilities | — |  |  | 492 |  |  | 492 |  |  | — |  |  | 191 |  |  | 191 |
| $ | 4,402 |  |  | 492 |  |  | 4,894 |  |  | 1,228 |  |  | 191 |  |  | 1,419 |
Net lease costs |  |  |  |  | $ | 148,383 |  |  |  |  |  |  | 137,942 |
Lease term and discount rate are as follows:
| At September 26, 2020 |  | At December 31, 2019
Weighted Average Remaining Lease Term |  |  |
Operating Leases | 4.3 years |  | 4.3 years
Finance Leases | 7.3 years |  | 8.4 years
Weighted Average Discount Rate |  |  |
Operating Leases | 3.1 | % |  | 3.3 | %
Finance Leases | 1.5 | % |  | 1.4 | %
Schedule of supplemental balance sheet information | Supplemental balance sheet information related to leases is as follows:
| Classification |  | At September 26, 2020 |  | At December 31, 2019
Assets |  |  |  |  |
Operating Leases |  |  |  |  |
Right of use operating lease assets | Right of use operating lease assets |  | $ | 303,050 |  |  | 323,003 |
Finance Leases |  |  |  |  |
Property, plant and equipment, gross | Property, plant and equipment |  | 48,347 |  |  | 35,271 |
Accumulated depreciation | Accumulated depreciation |  | (10,203) |  |  | (5,664) |
Property, plant and equipment, net | Property, plant and equipment, net |  | 38,144 |  |  | 29,607 |
Total lease assets |  |  | $ | 341,194 |  |  | 352,610 |
Liabilities |  |  |  |  |
Operating Leases |  |  |  |  |
Other current | Current operating lease liabilities |  | $ | 97,778 |  |  | 101,945 |
Non-current | Non-current operating lease liabilities |  | 214,654 |  |  | 228,155 |
Total operating liabilities |  |  | 312,432 |  |  | 330,100 |
Finance Leases |  |  |  |  |
Short-term debt | Short-term debt and current portion of long-term debt |  | 7,033 |  |  | 4,835 |
Long-term debt | Long-term debt, less current portion |  | 31,747 |  |  | 25,214 |
Total finance liabilities |  |  | 38,780 |  |  | 30,049 |
Total lease liabilities |  |  | $ | 351,212 |  |  | 360,149 |
Schedule of finance lease maturities | Maturities of lease liabilities are as follows:
Year ending December 31, | Finance Leases |  | Operating Leases |  | Total
2020 (excluding the nine months ended September 26, 2020) | $ | 1,974 |  |  | 30,826 |  |  | 32,800 |
2021 | 7,414 |  |  | 106,731 |  |  | 114,145 |
2022 | 6,974 |  |  | 79,632 |  |  | 86,606 |
2023 | 6,273 |  |  | 49,986 |  |  | 56,259 |
2024 | 4,738 |  |  | 29,767 |  |  | 34,505 |
Thereafter | 14,369 |  |  | 39,114 |  |  | 53,483 |
Total lease payments | 41,742 |  |  | 336,056 |  |  | 377,798 |
Less imputed interest | 2,962 |  |  | 23,624 |  |  |
Present value, Total | $ | 38,780 |  |  | 312,432 |  |  |
Schedule of operating lease maturities | Maturities of lease liabilities are as follows:
Year ending December 31, | Finance Leases |  | Operating Leases |  | Total
2020 (excluding the nine months ended September 26, 2020) | $ | 1,974 |  |  | 30,826 |  |  | 32,800 |
2021 | 7,414 |  |  | 106,731 |  |  | 114,145 |
2022 | 6,974 |  |  | 79,632 |  |  | 86,606 |
2023 | 6,273 |  |  | 49,986 |  |  | 56,259 |
2024 | 4,738 |  |  | 29,767 |  |  | 34,505 |
Thereafter | 14,369 |  |  | 39,114 |  |  | 53,483 |
Total lease payments | 41,742 |  |  | 336,056 |  |  | 377,798 |
Less imputed interest | 2,962 |  |  | 23,624 |  |  |
Present value, Total | $ | 38,780 |  |  | 312,432 |  |  |
Supplemental cash flow information | Supplemental cash flow information related to leases was as follows:
| Nine Months Ended
| September 26, 2020 |  |  |  |  |  | September 28, 2019
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 92,785 |  |  |  |  |  |  | 96,752 |
Operating cash flows from finance leases | 492 |  |  |  |  |  |  | 123 |
Financing cash flows from finance leases | 4,469 |  |  |  |  |  |  | 1,224 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |
Operating leases | 67,000 |  |  |  |  |  |  | 113,253 |
Finance leases | 10,340 |  |  |  |  |  |  | 7,636 |
Amortization: |  |  |  |  |  |  |
Amortization of right of use operating lease assets(1) | 85,266 |  |  |  |  |  |  | 85,061 |
(1) Amortization of Right of use operating lease assets during the period is reflected in Other assets and prepaid expenses on the Condensed Consolidated Statements of Cash Flows. Supplemental cash flow information were as follows:
| Nine Months Ended |  |  |  |
| September 26, 2020 |  | September 28, 2019 |  |  |  |
Net cash paid (received) during the periods for: |  |  |  |  |  |  |
Interest | $ | 36,223 |  |  | 42,911 |  |  |  |  |
Income taxes | $ | 40,602 |  |  | 100,544 |  |  |  |  |
Supplemental schedule of non-cash investing and financing activities: |  |  |  |  |  |  |
Additions to property, plant and equipment | $ | 44,245 |  |  | 21,021 |  |  |  |  |
Fair value of net assets acquired in acquisition | $ | 3,147 |  |  | 82,394 |  |  |  |  |
Liabilities assumed in acquisition | (3,147) |  |  | (5,547) |  |  |  |  |
| $ | — |  |  | 76,847 |  |  |  |  |

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