Leases (Tables)

9 Months Ended

Oct. 02, 2021

At October 2, 2021 and January 2, 2021, the Company’s lease assets and lease liabilities were as follows:

For the three and nine months ended October 2, 2021 and September 26, 2020, the components of the Company’s lease expense were as follows

	Three Months Ended				Nine Months Ended
	October 2,		September 26,		October 2,		September 26,
	2021		2020		2021		2020
Operating lease cost:
Fixed lease cost	$	8,533	$	12,028	$	29,359	$	37,025
Lease termination cost		2,320		12		8,680		156
Variable lease cost		6		0		15		(4	)
Total operating lease cost	$	10,859	$	12,040	$	38,054	$	37,177
Finance lease cost:
Amortization of leased assets		36		42		116		148
Interest on lease liabilities		2		3		7		9
Total finance lease cost	$	38	$	45	$	123	$	157
Total lease cost	$	10,897	$	12,085	$	38,177	$	37,334

At October 2, 2021 and January 2, 2021, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:

	October 2, 2021		January 2, 2021
Weighted Average Remaining Lease Term (years)
Operating leases		7.32		7.08
Finance leases		1.62		2.35

Weighted Average Discount Rate
Operating leases		7.12		6.95
Finance leases		5.14		5.51

At October 2, 2021, 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 2021	$	5,703	$	23	$	5,726
Fiscal 2022		28,078		84		28,162
Fiscal 2023		20,454		26		20,480
Fiscal 2024		15,798		5		15,803
Fiscal 2025		11,544		—		11,544
Thereafter		54,524		—		54,524
Total lease payments	$	136,101	$	138	$	136,239
Less imputed interest		32,320		6		32,326
Present value of lease liabilities	$	103,781	$	132	$	103,913

Supplemental cash flow information related to leases for the nine months ended October 2, 2021 and September 26, 2020 were as follows:

	Nine Months Ended
	October 2,			September 26,
	2021			2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	31,021		$	37,123
Operating cash flows from finance leases	$	7		$	9
Financing cash flows from finance leases	$	116		$	148

Leased assets (modified) obtained in exchange for (modified) new operating lease liabilities	$	(496	)	$	9,281
Leased assets obtained in exchange for new finance lease liabilities	$	81		$	127