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Leases | 3 Months Ended
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Jun. 25, 2021
Leases [Abstract] |
Leases | Leases The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to and the agreement creates enforceable rights and obligations. The Company also considers whether its service arrangements include the right to control the use of an asset. The Company leases real estate, equipment and vehicles under operating lease agreements that have initial terms ranging from 1 to 11 years. The Company does not have any leases classified as finance leases. Some leases include one or more options to exercise renewal terms, generally at the Company’s sole discretion, that can extend the lease term. Certain leases contain rights to terminate whereby those termination options are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease term only when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants. Operating lease cost is recognized on a straight-line basis over the lease term. Information regarding the Company’s leases are as follows:
| Three-Month Period Ended |  |
| June 25, 2021 |  |  |  |  |  |
Lease costs: |  |  |  |  |  |  |
Operating lease expense | $ | 1,149 |  |  |  |  |  |  |
Short term lease expense | 55 |  |  |  |  |  |  |
Other information: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 1,230 |  |  |  |  |  |  |
Weighted-average remaining lease term – operating leases | 5.97 years |  |  |  |  |  |
Weighted-average discount rate – operating leases | 4.6 | % |  |  |  |  |  |
Rent expense incurred under operating lease agreements was $1,235 and $1,183 for the three months ended June 25, 2021 and June 26, 2020, respectively. As of June 25, 2021, expirations of lease obligations by fiscal year were as follows:
Remainder of 2022 | $ | 3,149 |
2023 | 3,694 |
2024 | 3,296 |
2025 | 3,021 |
2026 | 2,639 |
Thereafter | 4,496 |
Total undiscounted lease payments | $ | 20,295 |
Less: present value adjustment | (2,601) |
Total operating lease liabilities | $ | 17,694 |
Information as Lessee under ASC 840 Future minimum lease payments for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 are as follows:
2022 | $ | 2,887 |
2023 | 2,726 |
2024 | 2,644 |
2025 | 2,172 |
2026 | 1,773 |
Thereafter | 3,713 |
Total | $ | 15,915 |

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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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