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Leases
 3 Months Ended
Mar. 26, 2022
Leases [Abstract]  
Leases Leases
The Company’s operating and finance leases are primarily for corporate offices, warehouse space, rail cars and equipment. As of March 26, 2022, the Company’s leases have remaining lease terms of 1 year to 14.6 years with standard renewal and termination options available at the Company’s discretion. Certain equipment leases have purchase options at the end of the term of the lease, which are not included in the right of use (“ROU”) assets as it is not reasonably certain that the Company will exercise such options. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The Company uses its incremental borrowing rate in determining the present value of lease payments unless the lease provides an implicit or explicit interest rate. The weighted average discount rate used in determining the operating lease ROU assets and liabilities as of March 26, 2022 and December 31, 2021 was 7.7 percent and 7.6 percent, respectively. The weighted average discount rate used in determining the finance lease ROU assets and liabilities as of March 26, 2022 and December 31, 2021 was 7.0 percent.

The Company’s operating and finance lease cost is as follows:
Three Months Ended
March 26, 2022March 27, 2021
Operating Leases
   Operating lease expense $1,931 $1,369 
Finance Leases
   Amortization of ROU assets92 86 
   Interest37 43 
Total$2,060 $1,498 
As of March 26, 2022, the weighted average remaining lease term is 5.3 years and 4.6 years for operating leases and financing leases, respectively. As of December 31, 2021, the weighted average remaining lease term is 5.3 years and 4.9 years for operating leases and finance leases, respectively. Cash provided by operating activities includes approximately $2 million and $1 million from operating lease payments made during the three months ended March 26, 2022 and March 27, 2021, respectively. Finance lease cash flows were immaterial during the three months ended March 26, 2022 and March 27, 2021.
As of March 26, 2022 and December 31, 2021, assets acquired under finance leases of $2 million and $2 million, respectively, are reflected in Property, Plant and Equipment, net. The Company’s finance leases are included as debt and the maturities for the remainder of 2022 and the next four years and thereafter are included in Note 7 — Debt and Finance Leases.
The Company’s consolidated balance sheet includes the following operating lease assets and liabilities:
Balance Sheet ClassificationMarch 26, 2022December 31, 2021
Right-of-use assets Other assets$17,438 $18,316 
Lease liabilities, currentAccrued and other current liabilities$6,291 $6,050 
Lease liabilities, non-currentOther long-term liabilities$11,641 $12,551 
As of March 26, 2022, operating lease maturities for the remainder of 2022 through 2026 and thereafter are as follows:
March 26, 2022
Remainder of 2022$5,875 
20236,077 
20242,616 
20251,705 
20261,103 
Thereafter5,351 
Total minimum lease payments$22,727 
Less: imputed interest(4,794)
Present value of future minimum lease payments$17,933 
Leases Leases
The Company’s operating and finance leases are primarily for corporate offices, warehouse space, rail cars and equipment. As of March 26, 2022, the Company’s leases have remaining lease terms of 1 year to 14.6 years with standard renewal and termination options available at the Company’s discretion. Certain equipment leases have purchase options at the end of the term of the lease, which are not included in the right of use (“ROU”) assets as it is not reasonably certain that the Company will exercise such options. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The Company uses its incremental borrowing rate in determining the present value of lease payments unless the lease provides an implicit or explicit interest rate. The weighted average discount rate used in determining the operating lease ROU assets and liabilities as of March 26, 2022 and December 31, 2021 was 7.7 percent and 7.6 percent, respectively. The weighted average discount rate used in determining the finance lease ROU assets and liabilities as of March 26, 2022 and December 31, 2021 was 7.0 percent.

The Company’s operating and finance lease cost is as follows:
Three Months Ended
March 26, 2022March 27, 2021
Operating Leases
   Operating lease expense $1,931 $1,369 
Finance Leases
   Amortization of ROU assets92 86 
   Interest37 43 
Total$2,060 $1,498 
As of March 26, 2022, the weighted average remaining lease term is 5.3 years and 4.6 years for operating leases and financing leases, respectively. As of December 31, 2021, the weighted average remaining lease term is 5.3 years and 4.9 years for operating leases and finance leases, respectively. Cash provided by operating activities includes approximately $2 million and $1 million from operating lease payments made during the three months ended March 26, 2022 and March 27, 2021, respectively. Finance lease cash flows were immaterial during the three months ended March 26, 2022 and March 27, 2021.
As of March 26, 2022 and December 31, 2021, assets acquired under finance leases of $2 million and $2 million, respectively, are reflected in Property, Plant and Equipment, net. The Company’s finance leases are included as debt and the maturities for the remainder of 2022 and the next four years and thereafter are included in Note 7 — Debt and Finance Leases.
The Company’s consolidated balance sheet includes the following operating lease assets and liabilities:
Balance Sheet ClassificationMarch 26, 2022December 31, 2021
Right-of-use assets Other assets$17,438 $18,316 
Lease liabilities, currentAccrued and other current liabilities$6,291 $6,050 
Lease liabilities, non-currentOther long-term liabilities$11,641 $12,551 
As of March 26, 2022, operating lease maturities for the remainder of 2022 through 2026 and thereafter are as follows:
March 26, 2022
Remainder of 2022$5,875 
20236,077 
20242,616 
20251,705 
20261,103 
Thereafter5,351 
Total minimum lease payments$22,727 
Less: imputed interest(4,794)
Present value of future minimum lease payments$17,933