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Leases (Tables)
 3 Months Ended
Mar. 28, 2020
Leases [Abstract]  
Schedule of Lease Assets and Lease Liabilities

At March 28, 2020 and December 28, 2019, the Company’s lease assets and lease liabilities were as follows:

 

 

 

March 28, 2020

 

 

December 28, 2019

 

Assets:

 

 

 

 

 

 

 

 

Operating lease assets

 

$

149,757

 

 

$

151,983

 

Finance lease assets

 

 

190

 

 

 

259

 

Total leased assets

 

$

149,947

 

 

$

152,242

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

 

$

33,843

 

 

$

33,236

 

Finance

 

 

127

 

 

 

126

 

Noncurrent

 

 

 

 

 

 

 

 

Operating

 

$

125,535

 

 

$

128,464

 

Finance

 

 

63

 

 

 

96

 

Total lease liabilities

 

$

159,568

 

 

$

161,922

 
Schedule of Components of Lease Expense For the three months ended March 28, 2020 and March 30, 2019, the components of the Company’s lease expense were as follows

 

 

 

Three Months Ended

 

 

 

March 28,

 

 

March 30,

 

 

 

2020

 

 

2019

 

Operating lease cost:

 

 

 

 

 

 

 

 

Fixed lease cost

 

$

12,641

 

 

$

13,372

 

Variable lease cost

 

 

11

 

 

 

0

 

Total operating lease cost

 

$

12,652

 

 

$

13,372

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization of leased assets

 

 

64

 

 

 

80

 

Interest on lease liabilities

 

 

3

 

 

 

8

 

Total finance lease cost

 

$

67

 

 

$

88

 

Total lease cost

 

$

12,719

 

 

$

13,460

 
Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates

At March 28, 2020 and December 28, 2019, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:

 

 

 

March 28, 2020

 

 

December 28, 2019

 

Weighted Average Remaining Lease Term (years)

 

 

 

 

 

 

 

 

Operating leases

 

 

6.94

 

 

 

7.06

 

Finance leases

 

 

2.29

 

 

 

2.43

 

 

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

 

 

 

 

Operating leases

 

 

6.95

 

 

 

7.02

 

Finance leases

 

 

6.01

 

 

 

5.97

 
Schedule of Maturity of Lease Liabilities

At March 28, 2020, the maturity of the Company’s lease liabilities in each of the next five fiscal years and thereafter were as follows:

 

 

Operating

Leases

 

 

Finance

Leases

 

 

Total

 

Remainder of fiscal 2020

$

32,544

 

 

$

102

 

 

$

32,646

 

2021

 

40,804

 

 

 

51

 

 

 

40,855

 

2022

 

29,553

 

 

 

22

 

 

 

29,575

 

2023

 

21,385

 

 

 

24

 

 

 

21,409

 

2024

 

16,007

 

 

 

5

 

 

 

16,012

 

Thereafter

 

66,061

 

 

 

0

 

 

 

66,061

 

Total lease payments

$

206,354

 

 

$

204

 

 

$

206,558

 

Less imputed interest

 

46,976

 

 

 

14

 

 

 

46,990

 

Present value of lease liabilities

$

159,378

 

 

$

190

 

 

$

159,568

 
Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the three months ended March 28, 2020 and March 30, 2019 were as follows:

 

 

 

Three Months Ended

 

 

 

March 28,

 

 

March 30,

 

 

 

2020

 

 

2019

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

12,701

 

 

$

12,742

 

Operating cash flows from finance leases

 

$

3

 

 

$

8

 

Financing cash flows from finance leases

 

$

64

 

 

$

80

 

 

 

 

 

 

 

 

 

 

Leased assets obtained in exchange for new operating lease liabilities

 

$

8,488

 

 

$

887

 

Leased assets obtained in exchange for new finance lease liabilities

 

$

0

 

 

$

0