XML 47 R38.htm IDEA: XBRL DOCUMENT v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 29, 2024
Leases [Abstract]  
Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities
The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at September 29, 2024 and December 31, 2023:
ClassificationBalance Sheet LocationSeptember 29, 2024December 31, 2023
Lease Assets
Operating lease assetsRight of Use Asset - Operating Leases$314,611 $314,944 
Finance lease assetsOther Assets90,951 94,026 
Total lease assets$405,562 $408,970 
Lease Liabilities
Current operating lease liabilitiesAccrued expenses and other$51,702 $54,803 
Current finance lease liabilitiesNotes payable and current portion of debt23,986 18,791 
Total current lease liabilities75,688 73,594 
Noncurrent operating lease liabilitiesNoncurrent Operating Lease Liabilities269,251 265,454 
Noncurrent finance lease liabilitiesLong-term Debt, Net of Current Portion60,234 70,203 
Total noncurrent lease liabilities329,485 335,657 
Total lease liabilities$405,173 $409,251 
Schedule of Components of Company's Total Lease Costs and Other Lease Related Information
The following table sets forth the components of the Company’s total lease cost for the three- and nine-month periods ended September 29, 2024 and October 1, 2023:
Three Months EndedNine Months Ended
Lease CostSeptember 29, 2024October 1, 2023September 29, 2024October 1, 2023
Operating lease cost(a)$14,653 $14,075 $44,242 $41,377 
Finance lease cost:
     Amortization of lease asset(a)3,640 3,468 10,558 10,187 
     Interest on lease liabilities(b)1,017 1,146 3,095 3,519 
Variable lease cost(a) (c)11,691 9,525 34,719 30,198 
Impairment charges281 — 281 — 
Total lease cost$31,282 $28,214 $92,895 $85,281 
(a) Production-related costs are included in “Cost of sales” and administrative costs are included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income.
(b) Included in “Interest expense” in the Condensed Consolidated Statements of Income.
(c) Also includes short term lease costs, which are deemed immaterial.
Schedule of Weighted Average Remaining Lease Terms, Discounts Rates and Other Lease Information The following table sets forth certain lease-related information for the nine-month periods ended September 29, 2024 and October 1, 2023:
Nine Months Ended
September 29, 2024October 1, 2023
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows used by operating leases $42,869 $41,406 
     Operating cash flows used by finance leases$3,095 $3,519 
     Financing cash flows used by finance leases$12,283 $12,359 
Noncash investing and financing activities:
     Leased assets obtained in exchange for new operating lease liabilities$51,008 $11,529 
     Leased assets obtained in exchange for new finance lease liabilities$7,911 $5,783 
     Modification to leased assets for increase in operating lease liabilities$12,072 $2,357 
     Modification to leased assets for increase in finance lease liabilities $53 $12 
     Termination reclasses to decrease operating lease assets$(6,628)$(3,334)
     Termination reclasses to decrease operating lease liabilities$(7,011)$(3,834)
     Termination reclasses to decrease finance lease assets$(184)$— 
     Termination reclasses to decrease finance lease liabilities $(186)$(12)