Leases (Tables)

9 Months Ended

Sep. 28, 2019

The components of lease expense are as follows:



	Three Months Ended		Nine Months Ended
(In thousands)	September 28, 2019		September 28, 2019
Operating Lease Cost	$	1,390	$	4,141

Short-Term Lease Cost	178		542

Finance Lease Cost:
ROU asset amortization	309		907
Interest on lease liabilities	25		69
Total Finance Lease Cost	334		976

Total Lease Costs	$	1,902	$	5,659

Supplemental cash flow information related to leases is as follows:



	Nine Months Ended
(In thousands)	September 28, 2019
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating cash flows from operating leases	$	4,223
Operating cash flows from finance leases	$	69
Financing cash flows from finance leases	$	854

ROU Assets Obtained in Exchange for Lease Obligations (a):
Operating leases	$	27,949
Finance leases	$	3,575

(a)

Includes additions related to the transition adjustment for the adoption of ASC 842. The post-adoption additions of operating leases were $12,632,000, of which $10,994,000 related to ROU assets obtained as part of the acquisition of SMH. The post-adoption additions of finance leases were $2,224,000, of which $528,000 related to ROU assets obtained as part of the 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	September 28, 2019
Operating Leases:
ROU assets	Other assets	$	27,714

Short-term liabilities	Other current liabilities	$	4,217
Long-term liabilities	Other long-term liabilities	25,047
Total operating lease liabilities		$	29,264

Finance Leases:
ROU assets, at cost	Property, plant, and equipment, at cost	$	3,731
ROU assets accumulated amortization	Less: accumulated depreciation and amortization	(1,274		)
ROU assets, net	Property, plant, and equipment, net	$	2,457

Short-term obligations	Current maturities of long-term obligations	$	1,128
Long-term obligations	Long-term obligations	1,280
Total finance lease liabilities		$	2,408

Weighted Average Remaining Lease Term:
Operating leases		10.3
Finance leases		2.4

Weighted Average Discount Rate:
Operating leases		3.97		%
Finance leases		4.16		%

Lessee, Operating Lease, Liability, Maturity

As of September 28, 2019, future lease payments for lease liabilities are as follows:



	Operating			Finance
(In thousands)	Leases			Leases
2019	$	1,387		$	320
2020	5,112			1,149
2021	4,306			743
2022	3,531			251
2023	3,078			62
Thereafter	18,637			1
Total Future Lease Payments	36,051			2,526
Less: Imputed Interest	(6,787		)	(118		)
Present Value of Lease Payments	$	29,264		$	2,408

Finance Lease, Liability, Maturity

As of September 28, 2019, future lease payments for lease liabilities are as follows:



	Operating			Finance
(In thousands)	Leases			Leases
2019	$	1,387		$	320
2020	5,112			1,149
2021	4,306			743
2022	3,531			251
2023	3,078			62
Thereafter	18,637			1
Total Future Lease Payments	36,051			2,526
Less: Imputed Interest	(6,787		)	(118		)
Present Value of Lease Payments	$	29,264		$	2,408

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