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LEASES (Tables) | 3 Months Ended
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Dec. 28, 2019
Leases [Abstract] |
Lease expense and components of lease expense | The following table shows the various components of lease expense:
| Three months ended
(in thousands) | December 28, 2019
Operating lease expense (1) | $ | 1,757 |
(1) Operating lease expense includes short-term lease expense, which is immaterial for the three month ended December 28, 2019. 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:
| As of
(in thousands) | December 28, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash outflows from operating leases | $ | 1,757 |
Weighted-average lease terms and discount rates | The following table shows the weighted-average lease terms and discount rates for operating leases:
| As of |
| December 28, 2019 |
Operating leases: |  |
Weighted-average remaining lease term: | 5.0 |  | years
Weighted-average discount rate: | 4.8 | % |
Future lease payments after ASC 842 adoption | Future lease payments, excluding short-term leases, as of December 28, 2019, are detailed as follows:
(in thousands) | Operating leases
Remainder of 2020 | $ | 5,048 |
2021 | 5,265 |
2022 | 4,750 |
2023 | 4,639 |
2024 | 2,278 |
Thereafter | 3,662 |
Total minimum lease payments | 25,642 |
Less: Interest | 3,010 |
Present value of lease obligations | 22,632 |
Less: Current portion | 5,427 |
Long-term portion of lease obligations | $ | 17,205 |
Future lease payments before ASC 842 adoption | Future lease payments under operating leases prior to adoption ASC 842 were as follows:
|  |  |  | Payments due by fiscal year
(in thousands) | Total |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter
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 Condensed 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.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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