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Leases (Tables)

9 Months Ended

Jun. 27, 2020

Leases [Abstract]

Components of Lease Expense

The components of lease expense for the three and nine months ended June 27, 2020 were as follows:

			Three Months Ended						Nine Months Ended
			June 27, 2020						June 27, 2020
(In thousands)
Operating lease cost			$	3,245					$	10,427
Short-term lease cost			60						176
Variable lease cost			1,148						4,095
Total lease cost			$	4,453					$	14,698

Maturity of Lease Liabilities

The following table summarizes the maturity of lease liabilities under operating leases as of June 27, 2020:

Fiscal years ending			Operating leases
(In thousands)
Remainder of fiscal 2020			$	3,773
2021			15,244
2022			14,479
2023			14,854
2024			13,835
2025			9,172
Thereafter			1,777
Total lease payments			73,134
Less imputed interest			(8,491)
Total lease liabilities (1)			$	64,643

(1) Total lease liabilities reflects the lease liabilities associated with the Company's New York retail space and satellite offices that were closed as a part of the 2020 restructuring plan. Refer to Note 14 for discussion of the impact of the associated ROU lease asset.

Schedule of Future Minimum Rental Payments for Operating Leases

Under Topic 840, the following table represents the gross minimum rental commitments under noncancelable leases as disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended September 28, 2019:

Fiscal years ending			Operating leases
(In thousands)
2020			$	15,627
2021			14,759
2022			14,136
2023			14,395
2024			13,615
Thereafter			10,951
Total minimum lease commitments			$	83,483

X

- 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=121609121&loc=SL77918686-209980

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X

- 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=121609121&loc=SL77918701-209980

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
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