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v3.21.1

Leases | 3 Months Ended
--- | ---
Apr. 03, 2021
Leases [Abstract] |
Leases | Leases The Company leases certain real and personal property, a large portion of the Company's fleet of tractors, all of its rail cars, some IT equipment and other transportation equipment under non-cancelable operating leases. The Company's office leases include certain lease and non-lease components, where the Company has elected to exclude the non-lease components from the calculation of the lease liability and ROU asset. The Company has finance leases, which are not significant to the Company and not separately disclosed in detail. The components of operating lease expense included in cost of sales and operating expenses and selling, general and administrative expenses were as follows (in thousands):
| Three Months Ended |  |
| April 3, 2021 | March 28, 2020 |  |  |
Operating lease expense | $ | 11,661 |  | $ | 11,509 |  |  |  |
Short-term lease costs | 6,408 |  | 6,245 |  |  |  |
Total lease cost | $ | 18,069 |  | $ | 17,754 |  |  |  |
Other information (in thousands, except lease terms and discount rates):
| Three Months Ended
| April 3, 2021 | March 28, 2020
Cash paid for amounts included in the measurement of lease liabilities |  |
Operating cash flows from operating leases | $ | 14,265 |  | $ | 12,456 |
| April 3, 2021 | January 2, 2021
Operating right-of-use assets, net | $ | 145,238 |  | $ | 146,563 |
Operating lease liability, current | $ | 38,064 |  | $ | 39,459 |
Operating lease liability, non-current | 108,777 |  | 109,707 |
Total operating lease liabilities | $ | 146,841 |  | $ | 149,166 |
Weighted average remaining lease term - operating leases | 6.43 years | 6.30 years
Weighted average discount rate - operating leases | 4.01 | % | 4.22 | %
Future annual minimum lease payments and capital lease commitments as of April 3, 2021 are as follows (in thousands):
Period Ending Fiscal | Operating Leases | Capital Leases
2021 (excluding the three months ended April 3, 2021) | $ | 32,297 |  | $ | 650 |
2022 | 34,591 |  | 824 |
2023 | 29,567 |  | 611 |
2024 | 22,759 |  | 467 |
2025 | 14,118 |  | 331 |
Thereafter | 27,721 |  | 574 |
| $ | 161,053 |  | $ | 3,457 |
Less amounts representing interest | $ | (14,212) |  | (134) |
Lease obligations included in current and long-term liabilities | $ | 146,841 |  | $ | 3,323 |
As of April 3, 2021, the Company also has additional operating leases that have not yet commenced, primarily for rail car and tractors, with fixed payments over their noncancellable terms of $3.2 million. These operating leases will commence in 2021 with noncancellable terms of 5 years.
Leases | Leases The Company leases certain real and personal property, a large portion of the Company's fleet of tractors, all of its rail cars, some IT equipment and other transportation equipment under non-cancelable operating leases. The Company's office leases include certain lease and non-lease components, where the Company has elected to exclude the non-lease components from the calculation of the lease liability and ROU asset. The Company has finance leases, which are not significant to the Company and not separately disclosed in detail. The components of operating lease expense included in cost of sales and operating expenses and selling, general and administrative expenses were as follows (in thousands):
| Three Months Ended |  |
| April 3, 2021 | March 28, 2020 |  |  |
Operating lease expense | $ | 11,661 |  | $ | 11,509 |  |  |  |
Short-term lease costs | 6,408 |  | 6,245 |  |  |  |
Total lease cost | $ | 18,069 |  | $ | 17,754 |  |  |  |
Other information (in thousands, except lease terms and discount rates):
| Three Months Ended
| April 3, 2021 | March 28, 2020
Cash paid for amounts included in the measurement of lease liabilities |  |
Operating cash flows from operating leases | $ | 14,265 |  | $ | 12,456 |
| April 3, 2021 | January 2, 2021
Operating right-of-use assets, net | $ | 145,238 |  | $ | 146,563 |
Operating lease liability, current | $ | 38,064 |  | $ | 39,459 |
Operating lease liability, non-current | 108,777 |  | 109,707 |
Total operating lease liabilities | $ | 146,841 |  | $ | 149,166 |
Weighted average remaining lease term - operating leases | 6.43 years | 6.30 years
Weighted average discount rate - operating leases | 4.01 | % | 4.22 | %
Future annual minimum lease payments and capital lease commitments as of April 3, 2021 are as follows (in thousands):
Period Ending Fiscal | Operating Leases | Capital Leases
2021 (excluding the three months ended April 3, 2021) | $ | 32,297 |  | $ | 650 |
2022 | 34,591 |  | 824 |
2023 | 29,567 |  | 611 |
2024 | 22,759 |  | 467 |
2025 | 14,118 |  | 331 |
Thereafter | 27,721 |  | 574 |
| $ | 161,053 |  | $ | 3,457 |
Less amounts representing interest | $ | (14,212) |  | (134) |
Lease obligations included in current and long-term liabilities | $ | 146,841 |  | $ | 3,323 |
As of April 3, 2021, the Company also has additional operating leases that have not yet commenced, primarily for rail car and tractors, with fixed payments over their noncancellable terms of $3.2 million. These operating leases will commence in 2021 with noncancellable terms of 5 years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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