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Leases | 3 Months Ended
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Apr. 03, 2022
Leases [Abstract] |
Leases | Leases The Company's leases are primarily leased properties across different worldwide locations where the Company conducts its operations. All of these leases are classified as operating leases. Certain leases may contain options to extend or terminate the lease at the Company's sole discretion. As of April 3, 2022, there were no options to terminate that were accounted for in the determination of the lease term for outstanding leases, and three options to extend that were accounted for in the determination of the lease term of three of the Company's outstanding leases. Certain leases contain leasehold improvement incentives, retirement obligations, escalating clauses, rent holidays, and variable payments tied to a consumer price index. There were no restrictions or covenants for outstanding leases as of April 3, 2022. The total operating lease expense for the three-month periods ended April 3, 2022 and April 4, 2021 were $2,229,000 and $2,002,000, respectively. The total operating lease cash payments for the three-month periods ended April 3, 2022 and April 4, 2021 were $2,079,000 and $2,061,000, respectively. The total lease expense for leases with a term of twelve months or less for which the Company elected not to recognize a lease asset or lease liability for the three-month periods ended April 3, 2022 and April 4, 2021 were $38,000 and $40,000, respectively. Future operating lease cash payments are as follows (in thousands):
Year Ended December 31, |  | Amount
Remainder of fiscal 2022 |  | $ | 6,960 |
2023 |  | 7,978 |
2024 |  | 4,912 |
2025 |  | 3,197 |
2026 |  | 2,511 |
2027 |  | 2,431 |
Thereafter |  | 9,823 |
|  | $ | 37,812 |
The discounted present value of the future lease cash payments resulted in a lease liability of $34,530,000 and $25,581,000 as of April 3, 2022 and December 31, 2021, respectively. The Company did not have any leases that had not yet commenced but that created significant rights and obligations as of April 3, 2022. The weighted-average discount rate was 3.0% and 3.4% for the leases outstanding as of April 3, 2022 and December 31, 2021, respectively. The weighted-average remaining lease term was 6.6 and 5.1 years for the leases outstanding as of April 3, 2022 and December 31, 2021, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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