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LEASED ASSETS (Tables)

6 Months Ended

Jun. 27, 2020

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 June 27, 2020:

	Balance Sheet Line Item	June 27, 2020
Right-of-use assets	Other assets	$2,361
Operating lease liabilities
Current portion	Trade accounts payable and accrued expenses	$440
Noncurrent portion	Lease liabilities	1,953
Total operating lease liabilities		$2,393

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 June 27, 2020:

Remainder of 2020	$277
2021	559
2022	244
2023	213
2024	215
Thereafter	1,600
Total undiscounted future minimum lease payments	3,108
Less: Difference between undiscounted lease payments & the present value of future lease payments	(715)
Total operating lease liabilities	$2,393

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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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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.

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