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Leases | 12 Months Ended
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Dec. 28, 2019
Leases [Abstract] |
Leases | (7) Leases We lease our retail, office and manufacturing space under operating leases which, in addition to the minimum lease payments, may require payment of a proportionate share of the real estate taxes and certain building operating expenses. While our local market development approach generally results in long-term participation in given markets, our retail store leases generally provide for an initial lease term of five to 10 years. Our office and manufacturing leases provide for an initial lease term of up to 15 years. In addition, our mall-based retail store leases may require payment of variable rent based on net sales in excess of certain thresholds. Certain leases may contain options to extend the term of the original lease. The exercise of lease renewal options is at our sole discretion. Lease options are included in the lease term only if exercise is reasonably certain at lease commencement. Our lease agreements do not contain any material residual value guarantees. We also lease vehicles and certain equipment under operating leases with an initial lease term of three to five years. Our operating lease costs include facility, vehicle and equipment lease costs, but exclude variable lease costs. Operating lease costs are recognized on a straight-line basis over the lease term, after consideration of rent escalations and rent holidays. The lease term for purposes of the calculation begins on the earlier of the lease commencement date or the date we take possession of the property. During lease renewal negotiations that extend beyond the original lease term, we estimate straight-line rent expense based on current market conditions. Variable lease costs are recorded when it is probable the cost has been incurred and the amount can be reasonably estimated. Future payments for real estate taxes and certain building operating expenses for which we are obligated are not included in operating lease costs. We adopted ASC Topic 842, Leases, using the modified-retrospective approach effective December 30, 2018 (beginning of fiscal 2019). See Note 1, Leases and Recently Adopted Accounting Guidance, which discusses our accounting policies and the impact of our initial adoption of the new lease standard. 2019 Lease disclosures under ASC 842 are as follows: Lease costs were as follows (in thousands):
|  |  |  | 2019 |
Operating lease costs(1) |  |  |  | $ | 86,026 |
Variable lease costs |  |  |  | $ | 1,809 |
(1) | Includes short-term lease costs which are not significant.
The maturities of operating lease liabilities as of December 28, 2019, were as follows (in thousands):
2020 |  | $ | 83,232 |
2021 |  |  | 76,199 |
2022 |  |  | 67,953 |
2023 |  |  | 58,038 |
2024 |  |  | 46,113 |
Thereafter |  |  | 120,727 |
Total operating lease payments(1) |  |  | 452,262 |
Less: Interest |  |  | 94,611 |
Present value of operating lease liabilities(2) |  | $ | 357,651 |
(1) | Total operating lease payments exclude $43 million of legally binding minimum lease payments for leases signed but not yet commenced.
(2) | Includes the current portion of $60 million for operating lease liabilities.
Other information related to operating leases was as follows:
|  | December 28, 2019 |
Weighted-average remaining lease term (years) |  |  | 6.6 |
Weighted-average discount rate |  |  | 7.2 | %
(in thousands) |  | December 28, 2019 |
Cash paid for amounts included in present value of operating lease liabilities |  | $ | 81,718 |
Right-of-use assets obtained in exchange for operating lease liabilities(1) |  | $ | 75,384 |
(1) | See Note 1, Recently Adopted Accounting Guidance, which discusses the impact of our initial adoption of the new lease standard.
2018 and 2017 Lease disclosures under ASC 840 are as follows: Rent expense was as follows (in thousands):
Facility Rents: |  | 2018 |  |  | 2017 |
Minimum rents |  | $ | 71,851 |  |  | $ | 66,239 |
Contingent rents |  |  | 1,847 |  |  |  | 2,845 |
Total |  | $ | 73,698 |  |  | $ | 69,084 |
Equipment Rents |  | $ | 5,692 |  |  | $ | 4,935 |
The aggregate minimum rental commitments under operating leases as of December 29, 2018, were expected to be as follows (in thousands):
2019 |  | $ | 78,337 |
2020 |  |  | 73,331 |
2021 |  |  | 66,491 |
2022 |  |  | 59,515 |
2023 |  |  | 51,076 |
Thereafter |  |  | 149,318 |
Total future minimum lease payments |  | $ | 478,068 |
We also had $0.9 million in capital lease commitments at December 29, 2018.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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