Leases (Tables)

3 Months Ended

Mar. 30, 2019

The components of lease expense are as follows:



	Three Months Ended
(In thousands)	March 30, 2019
Operating Lease Cost	$	1,370

Short-Term Lease Cost	185

Finance Lease Cost:
ROU asset amortization	293
Interest on lease liabilities	19
Total Finance Lease Cost	312

Total Lease Costs	$	1,867

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows:



	Three Months Ended
(In thousands)	March 30, 2019
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating cash flows from operating leases	$	1,391
Operating cash flows from finance leases	$	19
Financing cash flows from finance leases	$	274

ROU Assets Obtained in Exchange for Lease Obligations (a):
Operating leases	$	27,044
Finance leases	$	2,161


(a)	Includes additions related to the transition adjustment for the adoption ASC 842. The post-adoption additions of operating leases were $11,726,000, of which $10,994,000 related to ROU assets obtained as part of our acquisition of SMH. The post-adoption additions of finance leases were not material.

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:



(In thousands, except lease term and discount rate)	Balance Sheet Line Item	March 30, 2019
Operating Leases:
ROU assets	Other assets	$	29,348

Short-term liabilities	Other current liabilities	$	4,188
Long-term liabilities	Other long-term liabilities	26,607
Total operating lease liabilities		$	30,795

Finance Leases:
ROU assets, at cost	Property, plant, and equipment, at cost	$	3,288
ROU assets accumulated amortization	Less: accumulated depreciation and amortization	(1,219		)
ROU assets, net	Property, plant, and equipment, net	$	2,069

Short-term obligations	Current maturities of long-term obligations	$	978
Long-term obligations	Long-term obligations	943
Total finance lease liabilities		$	1,921

Weighted Average Remaining Lease Term:
Operating leases		10.6 years
Finance leases		2.2 years

Weighted Average Discount Rate:
Operating leases		3.94		%
Finance leases		4.13		%

Lessee, Operating Lease, Liability, Maturity

As of March 30, 2019, future lease payments for lease liabilities are as follows:



	Operating			Finance
(In thousands)	Leases			Leases
2019	$	4,038		$	803
2020	4,876			806
2021	4,079			347
2022	3,416			37
2023	3,065			14
Thereafter	18,657			—
Total Future Lease Payments	38,131			2,007
Less: Imputed Interest	(7,336		)	(86		)
Present Value of Lease Payments	$	30,795		$	1,921

Finance Lease, Liability, Maturity

As of March 30, 2019, future lease payments for lease liabilities are as follows:



	Operating			Finance
(In thousands)	Leases			Leases
2019	$	4,038		$	803
2020	4,876			806
2021	4,079			347
2022	3,416			37
2023	3,065			14
Thereafter	18,657			—
Total Future Lease Payments	38,131			2,007
Less: Imputed Interest	(7,336		)	(86		)
Present Value of Lease Payments	$	30,795		$	1,921

Schedule of Future Minimum Rental Payments for Operating Leases

As previously disclosed in the Company's 2018 Annual Report on Form 10-K and under the previous lease accounting standard, future minimum lease payments for noncancelable operating leases were as follows:



(In thousands)	December 29, 2018
2019	$	4,507
2020	3,275
2021	2,230
2022	1,579
2023	987
Thereafter	1,713
Total Future Minimum Lease Payments	$	14,291