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LEASES (Tables)
 12 Months Ended
Oct. 03, 2020
Leases [Abstract]  
Lease, Cost
The following table shows the components of lease expense:
(in thousands)Fiscal
2020
Operating lease expense (1)
$(6,942)
(1) Operating lease expense includes short-term lease expense, which is immaterial for the fiscal year ended October 3, 2020.

The following table shows the cash flows arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of operating and finance lease liabilities, and, as such, are excluded from the amounts below:
(in thousands)Fiscal
2020
Cash paid for amounts included in the measurement of lease liabilities:
 Operating cash outflows from operating leases$6,296 
 [1]
Assets And Liabilities, Lessee
The following table shows the weighted-average lease terms and discount rates for operating leases:
Fiscal
2020
Operating leases:
Weighted-average remaining lease term (in years):4.5
Weighted-average discount rate:4.8 %
Lessee, Operating Lease, Liability, Maturity
Future lease payments, excluding short-term leases, as of October 3, 2020, are detailed as follows:
(in thousands)Operating leases
2021$6,904 
20226,426 
20235,971 
20243,194 
20252,647 
Thereafter1,817 
Total minimum lease payments26,959 
Less: Interest2,731 
Present value of lease obligations24,228 
Less: Current portion5,903 
Long-term portion of lease obligations$18,325 
Schedule of Future Minimum Rental Payments for Operating Leases
Future lease payments under operating leases as of September 28, 2019, prior to the adoption of ASC 842, were as follows:

Payments due by fiscal year
(in thousands)Total20202021202220232024Thereafter
Operating lease obligations (1)
$16,273 $4,089 $2,576 $2,182 $1,967 $1,822 $3,637 
(1) Pursuant to ASC No. 840, Leases ("ASC 840"), for lessee's involvement in asset construction, the Company was considered to be the owner of the Building (as defined in Note 9 below) during the construction phase due to its involvement in the asset construction. As a result of the Company's continued involvement during the lease term, the Company did not fulfill the criteria to apply sale-leaseback accounting under ASC 840. Therefore, at completion of construction, the Building remained on the Consolidated Balance Sheet, and the corresponding financing obligation was reclassified to long-term liability. As of September 28, 2019, we recorded a financing obligation related to the Building of $15.0 million (see Note 9 below). The financing obligation is not reflected in the table above.
[1] Operating lease expense includes short-term lease expense, which is immaterial for the fiscal year ended October 3, 2020.