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Leases (Tables) | 6 Months Ended
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Jun. 27, 2020
Leases [Abstract] |
Lease Cost | The components of lease expense were as follows:
| Three Months Ended |  | Six Months Ended
| June 27, 2020 |  | June 29, 2019 | June 27, 2020 |  | June 29, 2019
| (In thousands) |  | (In thousands)
Operating lease cost: | $ | 2,977 |  |  | $ | 2,991 |  |  | $ | 6,098 |  |  | $ | 6,135 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 3,513 |  |  | $ | 3,220 |  |  | $ | 6,878 |  |  | $ | 6,117 |
Interest on lease liabilities | 6,557 |  |  | 4,130 |  |  | 12,721 |  |  | 7,378 |
Total finance lease costs | $ | 10,070 |  |  | $ | 7,350 |  |  | $ | 19,599 |  |  | $ | 13,495 |
Supplemental cash flow information related to leases was as follows:
| Three Months Ended |  | Six Months Ended
| June 27, 2020 |  | June 29, 2019 |  | June 27, 2020 |  | June 29, 2019
| (In thousands) |  | (In thousands)
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 2,860 |  |  | $ | 3,064 |  |  | $ | 5,633 |  |  | $ | 5,967 |
Operating cash flows from finance leases | 6,557 |  |  | 3,236 |  |  | 12,721 |  |  | 6,484 |
Financing cash flows from finance leases | 2,403 |  |  | 2,216 |  |  | 4,583 |  |  | 4,403 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |  |
Operating leases | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Finance leases | — |  |  | 3,462 |  |  | — |  |  | 4,250 |
Supplemental Balance Sheet Information | Supplemental balance sheet information related to leases was as follows:
| June 27, 2020 |  | December 28, 2019
| (In thousands)
Finance leases |  |  |
Property and equipment | $ | 204,431 |  |  | $ | 172,720 |
Accumulated depreciation | (51,255 | ) |  | (30,798 | )
Property and equipment, net | $ | 153,176 |  |  | $ | 141,922 |
Weighted Average Remaining Lease Term (in years) |  |  |
Operating leases | 11.66 |  |  | 11.71 |
Finance leases | 16.58 |  |  | 17.12 |
Weighted Average Discount Rate |  |  |
Operating leases | 9.40 | % |  | 9.34 | %
Finance leases | 9.75 | % |  | 10.11 | %
The major categories of our finance lease liabilities as of June 27, 2020 and December 28, 2019 are as follows:
| June 27, 2020 |  | December 28, 2019
| (In thousands)
Equipment and vehicles | $ | 29,162 |  |  | $ | 32,471 |
Real estate | 243,418 |  |  | 165,540 |
Total finance leases | $ | 272,580 |  |  | $ | 198,011 |
The following table presents our assets and liabilities related to our leases as of June 27, 2020 and December 28, 2019:
| June 27, 2020 |  | December 28, 2019
(In thousands)
Assets | Classification |  |  |
Operating lease right-of-use assets | Operating lease right of use assets | $ | 50,802 |  |  | $ | 54,408 |
Finance lease right-of-use assets (1) | Property and equipment, net | 153,176 |  |  | 141,922 |
Total lease right-of-use assets |  | $ | 203,978 |  |  | $ | 196,330 |
Liabilities |  |  |  |
Current portion |  |  |  |
Operating lease liabilities | Operating lease liabilities - short term | $ | 6,633 |  |  | $ | 7,317 |
Finance lease liabilities | Finance lease liabilities - short term | 5,958 |  |  | 6,486 |
Non-current portion |  |  |  |
Operating lease liabilities | Operating lease liabilities - long term | 44,169 |  |  | 47,091 |
Finance lease liabilities | Finance lease liabilities - long term | 266,622 |  |  | 191,525 |
Total lease liabilities |  | $ | 323,382 |  |  | $ | 252,419 |
(1) Finance lease right-of-use assets are presented net of accumulated amortization of $51.3 and $30.8 million as of June 27, 2020 and December 28, 2019, respectively.
Operating Lease Maturities | As of June 27, 2020, maturities of lease liabilities were as follows:
| Operating leases |  | Finance leases
| (In thousands)
2020 | $ | 11,109 |  |  | $ | 15,385 |
2021 | 8,821 |  |  | 29,150 |
2022 | 7,876 |  |  | 28,449 |
2023 | 6,794 |  |  | 28,121 |
2024 | 6,441 |  |  | 27,793 |
Thereafter | 47,514 |  |  | 408,524 |
Total lease payments | $ | 88,555 |  |  | $ | 537,422 |
Less: imputed interest | (37,753 | ) |  | (264,842 | )
Total | $ | 50,802 |  |  | $ | 272,580 |
On December 28, 2019, maturities of lease liabilities were as follows:
| Operating leases |  | Finance leases
| (In thousands)
2020 | $ | 11,348 |  |  | $ | 24,002 |
2021 | 10,111 |  |  | 23,052 |
2022 | 8,048 |  |  | 22,230 |
2023 | 7,330 |  |  | 21,854 |
2024 | 6,413 |  |  | 21,380 |
Thereafter | 50,901 |  |  | 327,439 |
Total lease payments | $ | 94,151 |  |  | $ | 439,957 |
Less: imputed interest | (39,743 | ) |  | (241,946 | )
Total | $ | 54,408 |  |  | $ | 198,011 |
Finance Lease Maturities | As of June 27, 2020, maturities of lease liabilities were as follows:
| Operating leases |  | Finance leases
| (In thousands)
2020 | $ | 11,109 |  |  | $ | 15,385 |
2021 | 8,821 |  |  | 29,150 |
2022 | 7,876 |  |  | 28,449 |
2023 | 6,794 |  |  | 28,121 |
2024 | 6,441 |  |  | 27,793 |
Thereafter | 47,514 |  |  | 408,524 |
Total lease payments | $ | 88,555 |  |  | $ | 537,422 |
Less: imputed interest | (37,753 | ) |  | (264,842 | )
Total | $ | 50,802 |  |  | $ | 272,580 |
On December 28, 2019, maturities of lease liabilities were as follows:
| Operating leases |  | Finance leases
| (In thousands)
2020 | $ | 11,348 |  |  | $ | 24,002 |
2021 | 10,111 |  |  | 23,052 |
2022 | 8,048 |  |  | 22,230 |
2023 | 7,330 |  |  | 21,854 |
2024 | 6,413 |  |  | 21,380 |
Thereafter | 50,901 |  |  | 327,439 |
Total lease payments | $ | 94,151 |  |  | $ | 439,957 |
Less: imputed interest | (39,743 | ) |  | (241,946 | )
Total | $ | 54,408 |  |  | $ | 198,011 |

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