Leases

3 Months Ended

Apr. 01, 2022

LEASES

We determine whether an arrangement contains a lease at inception. We have operating leases for office space, apartments, vehicles, and machinery and equipment. Our operating leases have lease terms of less than one year to ten years.

We do not separate lease components from non-lease components (e.g., common area maintenance, property taxes and insurance) but account for both components in a contract as a single lease component.

The components of lease expense are as follows:


	Three Months Ended
(In thousands)	April 1, 2022		April 2, 2021

Operating lease expense	$	3,673	$	1,825
Variable lease expense	130		203
Short-term lease expense	13,669		13,448
Total lease expense	$	17,472	$	15,476

Supplemental balance sheet information related to our operating leases is as follows:




(In thousands)	April 1, 2022		December 31, 2021
Right-of-use assets	$	42,074	$	43,651

Current lease liabilities (recorded in Other accrued liabilities)	$	11,979	$	11,983
Long-term lease liabilities (recorded in Operating lease liability)	33,167		34,536
Total operating lease liabilities	$	45,146	$	46,519

Additional right-of-use assets of $1.9 million were recognized as non-cash asset additions that resulted from new operating lease liabilities during the first three months of 2022.

The weighted average remaining lease term and discount rate for our operating leases at April 1, 2022 was 5.2 years and 3.7%, respectively.

Maturities of lease liabilities at April 1, 2022 were as follows:


(In thousands)	Payments due

2022 (remainder of the year)	$	9,842
2023	13,121
2024	8,607
2025	4,565
2026	3,889
After 2026	10,480
Total minimum lease payments	50,504
Less: Imputed interest	(5,358)
Total operating lease liabilities	$	45,146