XML 70 R26.htm IDEA: XBRL DOCUMENT v3.20.1

Leases (Tables)

9 Months Ended

Feb. 23, 2020

Leases [Abstract]

Components of Lease Cost and Supplemental Cash Flow Information

The components of lease cost were as follows:

(In thousands, except term and discount rate)			Three Months Ended						Nine Months Ended
			February 23, 2020						February 23, 2020
Finance lease cost:
Amortization of leased assets			$	29					$	86
Interest on lease liabilities			89						269
Operating lease cost			1,626						4,791
Variable lease cost and other			725						1,279
Total lease cost			$	2,469					$	6,425
Weighted-average remaining lease term:
Operating leases									11.37
Finance leases									2.85
Weighted-average discount rate:
Operating leases									5.26		%
Finance leases									9.99		%

Supplemental cash flow information related to leases are as follows:

			Nine Months Ended
(In thousands)			February 23, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	5,780
Operating cash flows from finance leases			270
Financing cash flows from finance leases			94
Lease liabilities arising from obtaining right-of-use assets:
Operating leases			$	2,527

Maturity Analysis of Finance Lease Liabilities

The Company's leases have original lease periods ending between 2019 and 2040. The Company's maturity analysis of operating and finance lease liabilities as of February 23, 2020 were as follows:

(In thousands)			Operating Leases						Finance Leases						Total
Remainder of 2020			$	1,385					$	125					$	1,510
2021			4,862						455						5,317
2022			4,350						466						4,816
2023			3,680						3,497						7,177
2024			3,008						9						3,017
Thereafter			20,086						2						20,088
Total lease payments			37,371						4,554						41,925
Less: interest			(10,306)						(962)						(11,268)
Present value of lease liabilities			27,065						3,592						30,657
Less: current obligation of lease liabilities			(3,775)						(125)						(3,900)
Total long-term lease liabilities			$	23,290					$	3,467					$	26,757

Maturity Analysis of Operating Lease Liabilities

The Company's leases have original lease periods ending between 2019 and 2040. The Company's maturity analysis of operating and finance lease liabilities as of February 23, 2020 were as follows:

(In thousands)			Operating Leases						Finance Leases						Total
Remainder of 2020			$	1,385					$	125					$	1,510
2021			4,862						455						5,317
2022			4,350						466						4,816
2023			3,680						3,497						7,177
2024			3,008						9						3,017
Thereafter			20,086						2						20,088
Total lease payments			37,371						4,554						41,925
Less: interest			(10,306)						(962)						(11,268)
Present value of lease liabilities			27,065						3,592						30,657
Less: current obligation of lease liabilities			(3,775)						(125)						(3,900)
Total long-term lease liabilities			$	23,290					$	3,467					$	26,757

Schedule of Future Minimum Rental Payments for Operating Leases

The future minimum annual lease payments required under the Company’s existing operating lease agreements as of May 26, 2019 prior to the adoption of ASC 842 were as follows:

(In thousands)			Operating Leases
Fiscal year 2020			$	5,056
Fiscal year 2021			4,044
Fiscal year 2022			3,589
Fiscal year 2023			3,350
Fiscal year 2024			3,047
Thereafter			9,335
Total			$	28,421

Schedule of Future Minimum Lease Payments for Capital Leases

The future minimum annual lease payments required under the Company’s existing capital lease agreements as of May 26, 2019 prior to the adoption of ASC 842 were as follows:

(In thousands)			Capital Leases
Fiscal year 2020			$	486
Fiscal year 2021			489
Fiscal year 2022			460
Fiscal year 2023			3,490
Fiscal year 2024			—
Thereafter			—
Total minimum lease payment			4,925
Less: amounts representing interest and taxes			(1,291)
Total			3,634
Less: current portion included in other accrued liabilities			(102)
Long-term capital lease obligation			$	3,532

X

- 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=77888426&loc=SL77918701-209980

+ Details

Name:	us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=77888426&loc=SL77918686-209980

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=77888426&loc=SL77918701-209980

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=84164817&loc=d3e45280-112737

+ Details

Name:	us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717

+ Details

Name:	us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration