XML 57 R38.htm IDEA: XBRL DOCUMENT v3.21.1
LEASES (Tables)
 3 Months Ended
Mar. 27, 2021
Leases [Abstract]  
Schedule of Right-of-Use Lease Assets and Lease Liabilities in Condensed Financial Statements
Right-of-use lease assets and lease liabilities are reported in the Company’s unaudited condensed consolidated balance sheets as follows:
March 27, 2021December 26, 2020
(in thousands)
Operating leases
Operating lease right-of-use assets, net$197,668 $178,220 
Other current liabilities$25,868 $24,674 
Operating lease right-of-use liabilities173,015 155,595 
Total operating lease liabilities$198,883 $180,269 
Finance leases
Property, plant and equipment, net$31,437 $31,614 
Current portion of long-term debt and finance leases$2,823 $3,018 
Long-term debt, net and finance leases26,021 26,029 
Total finance lease liabilities$28,844 $29,047 
Schedule of Operating and Finance Lease Costs and Supplemental Cash Flow Information The components of operating and finance lease costs were as follows:
Three Months Ended
March 27, 2021March 28, 2020
(in thousands)
Operating lease costs$9,352 $8,077 
Finance lease costs:
Amortization of right-of-use assets848 951 
Interest on lease liabilities328 340 
Short-term lease costs950 589 
Variable lease costs883 1,045 
Sublease income(374)(586)
Total lease costs$11,987 $10,416 
Supplemental cash flow information
Three Months Ended
March 27, 2021March 28, 2020
(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases$8,503 $6,974 
Operating cash flows from finance leases328 340 
Finance cash flows from finance leases942 1,572 
Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities$25,968 $25,407 
Right-of-use lease assets obtained in exchange for new finance lease liabilities86 593 

Lease term and discount rate                                
As ofAs of
March 27, 2021March 28, 2020
Weighted-average remaining lease term (in years)
Operating lease8.78.4
Finance lease12.412.7
Weighted-average discount rate
Operating lease3.9 %4.2 %
Finance lease4.5 %4.5 %
Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases
As of March 27, 2021, 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)
2021 (excluding the three months ended March 27, 2021)$24,996 $3,078 
202230,659 3,738 
202328,248 3,411 
202427,113 3,181 
202524,635 2,902 
Thereafter101,665 21,597 
Total minimum future lease payments237,316 37,907 
Less: Imputed interest38,433 9,063 
Total lease liabilities$198,883 $28,844 
Schedule of Future Minimum Lease Payments Under Non-Cancellable Finance Leases
As of March 27, 2021, 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)
2021 (excluding the three months ended March 27, 2021)$24,996 $3,078 
202230,659 3,738 
202328,248 3,411 
202427,113 3,181 
202524,635 2,902 
Thereafter101,665 21,597 
Total minimum future lease payments237,316 37,907 
Less: Imputed interest38,433 9,063 
Total lease liabilities$198,883 $28,844