Leases (Tables)

6 Months Ended

Jun. 29, 2019

The components of lease expense are as follows:



	Three Months Ended		Six Months Ended
(In thousands)	June 29, 2019		June 29, 2019
Operating Lease Cost	$	1,381	$	2,751

Short-Term Lease Cost	179		364

Finance Lease Cost:
ROU asset amortization	305		598
Interest on lease liabilities	25		44
Total Finance Lease Cost	330		642

Total Lease Costs	$	1,890	$	3,757

Supplemental cash flow information related to leases is as follows:



	Six Months Ended
(In thousands)	June 29, 2019
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating cash flows from operating leases	$	2,789
Operating cash flows from finance leases	$	44
Financing cash flows from finance leases	$	564

ROU Assets Obtained in Exchange for Lease Obligations (a):
Operating leases	$	27,428
Finance leases	$	3,050

(a)

Includes additions related to the transition adjustment for the adoption of ASC 842. The post-adoption additions of operating leases were $12,110,000, 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 $1,699,000, of which $528,000 related to ROU assets obtained as part of our acquisition of SMH.

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	June 29, 2019
Operating Leases:
ROU assets	Other assets	$	28,565

Short-term liabilities	Other current liabilities	$	4,183
Long-term liabilities	Other long-term liabilities	25,866
Total operating lease liabilities		$	30,049

Finance Leases:
ROU assets, at cost	Property, plant, and equipment, at cost	$	3,886
ROU assets accumulated amortization	Less: accumulated depreciation and amortization	(1,329		)
ROU assets, net	Property, plant, and equipment, net	$	2,557

Short-term obligations	Current maturities of long-term obligations	$	1,149
Long-term obligations	Long-term obligations	1,321
Total finance lease liabilities		$	2,470

Weighted Average Remaining Lease Term:
Operating leases		10.5
Finance leases		2.4

Weighted Average Discount Rate:
Operating leases		3.95		%
Finance leases		4.18		%

Lessee, Operating Lease, Liability, Maturity

As of June 29, 2019, future lease payments for lease liabilities are as follows:



	Operating			Finance
(In thousands)	Leases			Leases
2019	$	2,732		$	651
2020	4,979			1,089
2021	4,178			641
2022	3,464			171
2023	3,081			43
Thereafter	18,681			—
Total Future Lease Payments	37,115			2,595
Less: Imputed Interest	(7,066		)	(125		)
Present Value of Lease Payments	$	30,049		$	2,470

Finance Lease, Liability, Maturity

As of June 29, 2019, future lease payments for lease liabilities are as follows:



	Operating			Finance
(In thousands)	Leases			Leases
2019	$	2,732		$	651
2020	4,979			1,089
2021	4,178			641
2022	3,464			171
2023	3,081			43
Thereafter	18,681			—
Total Future Lease Payments	37,115			2,595
Less: Imputed Interest	(7,066		)	(125		)
Present Value of Lease Payments	$	30,049		$	2,470

Schedule of Future Minimum Rental Payments for Operating Leases

As previously disclosed in the Company's 2018 Annual Report on Form 10-K for the fiscal year ended December 29, 2018 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