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LEASES
 6 Months Ended
Jun. 27, 2020
Leases [Abstract]  
LEASES LEASES
Operating and Finance Leases
Right-of-use lease assets and lease liabilities are reported in the Company’s unaudited condensed consolidated balance sheets as follows:
June 27, 2020December 28, 2019
(in thousands)
Operating leases
Operating lease right-of-use assets, net$169,192  $140,085  
Other current liabilities$24,450  $20,357  
Operating lease right-of-use liabilities147,348  116,252  
Total operating lease liabilities$171,798  $136,609  
Finance leases
Property, plant and equipment, net$30,225  $32,519  
Current portion of long-term debt and finance leases$3,208  $2,997  
Long-term debt, net and finance leases24,675  27,530  
Total finance lease liabilities$27,883  $30,527  


The components of operating and finance lease costs were as follows:
Three Months EndedSix Months Ended
June 27, 2020June 29, 2019June 27, 2020June 29, 2019
(in thousands)
Operating lease costs$7,893  $7,887  $15,971  $15,594  
Finance lease costs:
Amortization of right-of-use assets937  931  1,888  1,852  
Interest on lease liabilities323  345  663  641  
Short-term lease costs525  204  1,114  396  
Variable lease costs1,067  930  2,112  1,265  
Sublease income(190) (45) (776) (91) 
Total lease costs$10,555  $10,252  $20,972  $19,657  
Other information related to leases was as follows:
Supplemental cash flow information
Six Months Ended
June 27, 2020June 29, 2019
(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases$14,149  $13,214  
Operating cash flows from finance leases663  715  
Finance cash flows from finance leases2,467  1,842  
Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities$46,493  $5,028  
Right-of-use lease assets obtained in exchange for new finance lease liabilities735  4,508  

Lease term and discount rate         
As of
June 27, 2020
Weighted-average remaining lease term (in years)
Operating lease8.36
Finance lease12.61
Weighted-average discount rate
Operating lease4.18  
Finance lease4.53  

At the lease commencement date, the discount rate implicit in the lease is used to discount the lease liability if readily determinable. If not readily determinable or leases do not contain an implicit rate, the Company’s incremental borrowing rate is used as the discount rate.
As of June 27, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:
Operating LeasesFinance Leases
(in thousands)
2020 (excluding the six months ended June 27, 2020)$15,601  $2,378  
202129,819  3,789  
202225,533  3,236  
202322,487  2,933  
202421,872  2,719  
Thereafter91,026  21,795  
Total minimum future lease payments206,338  36,850  
Less: Imputed interest34,540  8,967  
Total lease liabilities$171,798  $27,883  

Total minimum future lease payments (predominantly operating leases) of approximately $44 million for leases that have not commenced as of June 27, 2020, as the Company does not yet control the underlying assets, are not included in the unaudited condensed consolidated financial statements. These leases are expected to commence between fiscal years 2021 and 2024 with lease terms of approximately 10 to 15 years.
LEASES LEASES
Operating and Finance Leases
Right-of-use lease assets and lease liabilities are reported in the Company’s unaudited condensed consolidated balance sheets as follows:
June 27, 2020December 28, 2019
(in thousands)
Operating leases
Operating lease right-of-use assets, net$169,192  $140,085  
Other current liabilities$24,450  $20,357  
Operating lease right-of-use liabilities147,348  116,252  
Total operating lease liabilities$171,798  $136,609  
Finance leases
Property, plant and equipment, net$30,225  $32,519  
Current portion of long-term debt and finance leases$3,208  $2,997  
Long-term debt, net and finance leases24,675  27,530  
Total finance lease liabilities$27,883  $30,527  


The components of operating and finance lease costs were as follows:
Three Months EndedSix Months Ended
June 27, 2020June 29, 2019June 27, 2020June 29, 2019
(in thousands)
Operating lease costs$7,893  $7,887  $15,971  $15,594  
Finance lease costs:
Amortization of right-of-use assets937  931  1,888  1,852  
Interest on lease liabilities323  345  663  641  
Short-term lease costs525  204  1,114  396  
Variable lease costs1,067  930  2,112  1,265  
Sublease income(190) (45) (776) (91) 
Total lease costs$10,555  $10,252  $20,972  $19,657  
Other information related to leases was as follows:
Supplemental cash flow information
Six Months Ended
June 27, 2020June 29, 2019
(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases$14,149  $13,214  
Operating cash flows from finance leases663  715  
Finance cash flows from finance leases2,467  1,842  
Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities$46,493  $5,028  
Right-of-use lease assets obtained in exchange for new finance lease liabilities735  4,508  

Lease term and discount rate         
As of
June 27, 2020
Weighted-average remaining lease term (in years)
Operating lease8.36
Finance lease12.61
Weighted-average discount rate
Operating lease4.18  
Finance lease4.53  

At the lease commencement date, the discount rate implicit in the lease is used to discount the lease liability if readily determinable. If not readily determinable or leases do not contain an implicit rate, the Company’s incremental borrowing rate is used as the discount rate.
As of June 27, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:
Operating LeasesFinance Leases
(in thousands)
2020 (excluding the six months ended June 27, 2020)$15,601  $2,378  
202129,819  3,789  
202225,533  3,236  
202322,487  2,933  
202421,872  2,719  
Thereafter91,026  21,795  
Total minimum future lease payments206,338  36,850  
Less: Imputed interest34,540  8,967  
Total lease liabilities$171,798  $27,883  

Total minimum future lease payments (predominantly operating leases) of approximately $44 million for leases that have not commenced as of June 27, 2020, as the Company does not yet control the underlying assets, are not included in the unaudited condensed consolidated financial statements. These leases are expected to commence between fiscal years 2021 and 2024 with lease terms of approximately 10 to 15 years.