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Leases (Tables)

12 Months Ended

Dec. 28, 2019

Leases [Abstract]

Components of leases

The components of lease expense were as follows (in thousands):

Lease Cost		Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location		Fiscal Year 2019
Operating lease cost(1)		SG&A		$	117,932
Finance lease cost:
Amortization of ROU assets		SG&A		$	475
Interest on lease liabilities		Interest expense		$	38
Short-term lease cost		SG&A		$	1,302
Variable lease cost		SG&A		$	36,476

_______________________________________________

⁽¹⁾Includes sublease income, which was immaterial.

The following table discloses supplemental balance sheet information for the Company’s leases (in thousands):

Leases		Consolidated Balance Sheets Location		December 28, 2019
Assets
Operating		Operating lease right-of-use assets		$	288,166
Finance		Property, plant and equipment - net of accumulated depreciation of $4,015		$	5,918
Liabilities
Current:
Operating		Current operating lease liabilities		$	68,838
Finance		Short-term and current portion of long-term debt		$	1,011
Noncurrent:
Operating		Long-term operating lease liabilities		$	288,689
Finance		Long-term debt		$	1,468

The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases:

Lease Term and Discount Rate		December 28, 2019
Weighted-average remaining lease term:
Operating leases		6.1 years
Finance leases		2.3 years
Weighted-average discount rate:
Operating leases		13.9	%
Finance leases		1.2	%

Maturity of lease liabilities

Future minimum lease payments by year as of December 28, 2019 were as follows (in thousands):

Fiscal Year		Operating Leases				Finance Leases
2020		$	116,778			$	1,042
2021		94,795				978
2022		81,536				488
2023		64,582				—
2024		45,846				—
Thereafter		153,255				—
Total lease payments		$	556,792			$	2,508
Less: Interest		199,265				30
Total lease obligations		$	357,527			$	2,478

Maturity of lease liabilities

Future minimum lease payments by year as of December 28, 2019 were as follows (in thousands):

Fiscal Year		Operating Leases				Finance Leases
2020		$	116,778			$	1,042
2021		94,795				978
2022		81,536				488
2023		64,582				—
2024		45,846				—
Thereafter		153,255				—
Total lease payments		$	556,792			$	2,508
Less: Interest		199,265				30
Total lease obligations		$	357,527			$	2,478

Future minimum lease payments

Future minimum lease payments by year as of December 29, 2018 were as follows (in thousands):

Fiscal Year		Operating Leases				Finance Leases
2019		$	135,025			$	951
2020		105,668				947
2021		84,230				947
2022		73,928				696
2023		61,710				—
Thereafter		186,201				—
Total lease payments		$	646,762			$	3,541
Less: Interest						84
Finance lease obligations						$	3,457

Future minimum leases payments

Future minimum lease payments by year as of December 29, 2018 were as follows (in thousands):

Fiscal Year		Operating Leases				Finance Leases
2019		$	135,025			$	951
2020		105,668				947
2021		84,230				947
2022		73,928				696
2023		61,710				—
Thereafter		186,201				—
Total lease payments		$	646,762			$	3,541
Less: Interest						84
Finance lease obligations						$	3,457

Supplemental Cash Flow Information

Supplemental cash flow information related to leases was as follows (in thousands):

	Fiscal Year 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	116,846
Operating cash flows from finance leases	38
Financing cash flows from finance leases	945
Leased assets obtained in exchange for new finance lease liabilities	83
Leased assets obtained in exchange for new operating lease liabilities	41,510

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