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v3.20.2

LEASES (Tables) | 12 Months Ended
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Jul. 25, 2020
Leases [Abstract] |
Total Lease Cost | The Company recognized expense related to these leases in fiscal 2020 and 2019 as follows:
|  |  |  |  |  | 52 Weeks Ended |  |
Consolidated Statement of Operations Classification |  |  |  |  |  | July 25, 2020 |  | July 27, 2019
Operating and administrative expense |  |  |  |  |  | $ | 2,708 |  |  | $ | — |
Depreciation and amortization |  |  |  |  |  | — |  |  | 396 |
Interest expense |  |  |  |  |  | — |  |  | 2,145 |
|  |  |  |  |  | $ | 2,708 |  |  | $ | 2,541 |
The composition of total lease cost is as follows:
|  |  | Years ended |  |
| Consolidated Statement of Operations Classification |  | July 25, 2020 |  |
Operating lease cost | Operating and administrative expense |  | $ | 22,911 |  |  |
Finance lease cost |  |  |  |  |
Amortization of leased assets | Depreciation and amortization |  | 947 |  |  |
Interest on lease liabilities | Interest expense |  | 2,059 |  |  |
Variable lease cost | Operating and administrative expense |  | 16,473 |  |  |
Total lease cost |  |  | $ | 42,390 |  |  |
Supplemental cash flow information related to leases is as follows:
|  | 2020 |  |  |  |  |
Cash paid for amounts in the measurement of lease liabilities |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 21,287 |  |  |  |  |  |
Operating cash flows from finance leases |  | 2,059 |  |  |  |  |  |
Financing cash flows from finance leases |  | 572 |  |  |  |  |  |
Operating Lease Maturity | Maturities of operating and finance lease liabilities, including options to extend lease terms that are reasonably certain of being exercised, are as follows as of July 25, 2020:
|  | Operating leases |  | Finance leases |  | Total
2021 |  | $ | 34,103 |  |  | $ | 2,689 |  |  | $ | 36,792 |
2022 |  | 35,555 |  |  | 2,689 |  |  | 38,244 |
2023 |  | 35,186 |  |  | 2,689 |  |  | 37,875 |
2024 |  | 33,298 |  |  | 2,689 |  |  | 35,987 |
2025 |  | 31,950 |  |  | 2,820 |  |  | 34,770 |
Thereafter |  | 242,775 |  |  | 29,081 |  |  | 271,856 |
Total lease payments |  | 412,867 |  |  | 42,657 |  |  | 455,524 |
Less amount representing interest |  | 95,719 |  |  | 19,113 |  |  | 114,832 |
Present value of lease liabilities |  | $ | 317,148 |  |  | $ | 23,544 |  |  | $ | 340,692 |
Finance Lease Maturity | Maturities of operating and finance lease liabilities, including options to extend lease terms that are reasonably certain of being exercised, are as follows as of July 25, 2020:
|  | Operating leases |  | Finance leases |  | Total
2021 |  | $ | 34,103 |  |  | $ | 2,689 |  |  | $ | 36,792 |
2022 |  | 35,555 |  |  | 2,689 |  |  | 38,244 |
2023 |  | 35,186 |  |  | 2,689 |  |  | 37,875 |
2024 |  | 33,298 |  |  | 2,689 |  |  | 35,987 |
2025 |  | 31,950 |  |  | 2,820 |  |  | 34,770 |
Thereafter |  | 242,775 |  |  | 29,081 |  |  | 271,856 |
Total lease payments |  | 412,867 |  |  | 42,657 |  |  | 455,524 |
Less amount representing interest |  | 95,719 |  |  | 19,113 |  |  | 114,832 |
Present value of lease liabilities |  | $ | 317,148 |  |  | $ | 23,544 |  |  | $ | 340,692 |
Lease Terms and Discount Rates | As of July 25, 2020, the Company's lease terms and discount rates are as follows:
| July 25, 2020
Weighted-average remaining lease term (years) |
Operating leases | 13.3
Finance leases | 15.4
Weighted-average discount rate |
Operating leases | 3.9 | %
Finance leases | 8.5 | %
Future Minimum Lease Payments for all Non-Cancelable Leases Before Adoption of ASU 2016-02 | Future minimum lease payments by year and in the aggregate for all non-cancelable leases with initial terms of one year or more consisted of the following at July 27, 2019:
| Capital and financing leases |  | Operating leases
2020 | $ | 5,173 |  |  | $ | 13,573 |
2021 | 5,240 |  |  | 12,972 |
2022 | 5,240 |  |  | 10,348 |
2023 | 5,305 |  |  | 9,747 |
2024 | 5,342 |  |  | 7,457 |
Thereafter | 43,708 |  |  | 61,043 |
Minimum lease payments | 70,008 |  |  | $ | 115,140 |
Less amount representing interest | 28,233 |  |  |
Present value of minimum lease payments | 41,775 |  |  |
Less current portion | 1,022 |  |  |
| $ | 40,753 |  |  |

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- 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=121609121&loc=SL77918701-209980 + Details
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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=121609121&loc=SL77918686-209980 + Details
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- 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 + Details
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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121616839&loc=d3e45280-112737 + Details
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