XML 35 R24.htm IDEA: XBRL DOCUMENT v3.19.1
LEASED ASSETS (Tables)
 3 Months Ended
Mar. 30, 2019
Leases [Abstract]  
Schedule of right-of-use assets and related lease liabilities

The Company adopted the provisions of ASU 2016-02 using the effective date method on January 1, 2019 and recorded right-of-use assets equal to the present value of the contractual liability for future lease payments. The table below presents the right-of-use assets and related lease liabilities recognized on the condensed consolidated balance sheet as of March 30, 2019:

 

 

   Balance Sheet Line Item  March 30, 2019 
 Right-of-use assets   Other assets  $2,728 
         
Operating lease liabilities        
Current portion  Trade accounts payable and
accrued expenses		   584 
         
Noncurrent portion  Lease liabilities   2,144 
         
Total operating lease liabilities     $2,728 

 
Schedule of operating lease liabilities

The Company’s leases generally do not provide an implicit interest rate, and therefore the Company uses its incremental borrowing rate enumerated in its revolving line of credit (see Note 6) to determine the present value of its operating lease liabilities. The following table reconciles the undiscounted future minimum lease payments to the total operating lease liabilities recognized on the condensed consolidated balance sheet as of March 30, 2019:

 

Remainder of 2019  $439 
2020   540 
2021   508 
2022   192 
2023   160 
Thereafter   1,760 
Total undiscounted future minimum lease payments   3,599 
Less: Difference between undiscounted lease payments and the
present value of future lease payments		   871 
Total operating lease liabilities  $2,728