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LEASES (Tables)

12 Months Ended

Dec. 27, 2019

LEASES

Summary of the lease expense

		Fiscal Year
		2019			2018
		(in thousands)
Operating lease cost		$	5,053		$	-
Finance lease cost:
Amortization of assets			509			-
Interest on lease liabilities			36			-
Total net lease cost		$	5,598		$	-

Summary of lease information presented on the Company’s condensed consolidated balance sheet

	December 27,			December 28,
	2019			2018
	(in thousands)
Operating leases:
Right-of-use assets	$	22,297		$	—
Lease liability	$	5,550		$	—
Lease liability, less current portion		18,411			—
Total lease liabilities	$	23,961		$	—
Finance leases (included in equipment and leasehold improvements, net):
Equipment and leasehold improvements, net	$	1,957		$	—
Accumulated depreciation		(1,291)			—
Total equipment and leasehold improvements, net	$	666		$	—
Finance lease obligations	$	375		$	—
Finance lease obligations, less current portion		191			—
Total finance lease obligations	$	566		$	—
Weighted average remaining lease term (in years):
Operating Leases		4.59			—
Finance Leases		1.47			—
Weighted average discount rate:
Operating Leases		5.14	%		—	%
Finance Leases		4.80	%		—	%

Summary of other information and supplemental cash flow information related to finance and operating leases

		Fiscal Year
		2019			2018
		(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases		$	5,151		$	—
Operating cash flow from finance leases			36			—
Financing cash flow from finance leases			639			—
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		$	4,918		$	—

Summary of the maturities of operating lease liabilities

The following is a summary of the maturities of lease liabilities as of December 27, 2019:

		Operating			Finance
		(in thousands)
Fiscal year:
2020		$	6,418		$	394
2021			5,680			178
2022			4,891			17
2023			3,425			—
2024			2,498			—
2025 and thereafter			4,530			—
Total lease payments		$	27,442		$	589
Less: Imputed interest			(3,481)			(23)
Total lease obligations			23,961			566
Less: Current obligations			5,550			375
Noncurrent lease obligations		$	18,411		$	191

Summary of the maturities of finance lease liabilities

		Operating			Finance
		(in thousands)
Fiscal year:
2020		$	6,418		$	394
2021			5,680			178
2022			4,891			17
2023			3,425			—
2024			2,498			—
2025 and thereafter			4,530			—
Total lease payments		$	27,442		$	589
Less: Imputed interest			(3,481)			(23)
Total lease obligations			23,961			566
Less: Current obligations			5,550			375
Noncurrent lease obligations		$	18,411		$	191

Summary of the future minimum payments under capital leases

The following is a summary of the future minimum payments under finance and non-cancelable operating leases as of December 28, 2018:

		Finance			Operating
		(in thousands)
Fiscal year:
2019		$	335		$	4,442
2020			204			2,882
2021			26			2,036
2022			—			1,565
2023			—			668
2024 and thereafter			—			996
Total future minimum lease payments		$	565		$	12,589
Amount representing interest (at rates ranging from 3.25% to 3.75%)			(21)
Present value of net minimum lease payments under capital leases			544
Less current portion			320
Noncurrent lease obligations		$	224

Summary of the future minimum payments under non-cancelable operating leases

		Finance			Operating
		(in thousands)
Fiscal year:
2019		$	335		$	4,442
2020			204			2,882
2021			26			2,036
2022			—			1,565
2023			—			668
2024 and thereafter			—			996
Total future minimum lease payments		$	565		$	12,589
Amount representing interest (at rates ranging from 3.25% to 3.75%)			(21)
Present value of net minimum lease payments under capital leases			544
Less current portion			320
Noncurrent lease obligations		$	224

X

- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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

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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

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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

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Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.

+ References

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-SubTopic 30
-Section 50
-Paragraph 1
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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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Tabular disclosure of impact of leases adoption on balance sheet information.

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Tabular disclosure of other information and supplemental cash flow information related to leases.

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