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Leases (Tables) | 12 Months Ended
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Jan. 02, 2021
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 2020 |  | Fiscal Year 2019 |  |
Operating lease cost(1) |  | SG&A |  | $ | 106,004 |  |  | $ | 117,932 |  |  |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of ROU assets |  | SG&A |  | $ | 506 |  |  | $ | 475 |  |  |
Interest on lease liabilities |  | Interest expense |  | $ | 33 |  |  | $ | 38 |  |  |
Short-term lease cost |  | SG&A |  | $ | 610 |  |  | $ | 1,302 |  |  |
Variable lease cost |  | SG&A |  | $ | 22,048 |  |  | $ | 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 |  | January 2, 2021 |  | December 28, 2019
Assets |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 226,815 |  |  | $ | 288,166 |
Finance |  | Property, plant and equipment - net of accumulated depreciation of $4,882 and $4,015 at January 2, 2021 and December 28, 2019, respectively |  | $ | 5,991 |  |  | $ | 5,918 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Current operating lease liabilities |  | $ | 64,851 |  |  | $ | 68,838 |
Finance |  | Short-term and current portion of long-term debt |  | $ | 1,088 |  |  | $ | 1,011 |
Noncurrent: |  |  |  |  |  |
Operating |  | Long-term operating lease liabilities |  | $ | 230,635 |  |  | $ | 288,689 |
Finance |  | Long-term debt |  | $ | 569 |  |  | $ | 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 |  | January 2, 2021 |  | December 28, 2019
Weighted-average remaining lease term: |  |  |  |
Operating leases |  | 5.9 years |  | 6.1 years
Finance leases |  | 1.2 years |  | 2.3 years
Weighted-average discount rate: |  |  |  |
Operating leases |  | 14.0 | % |  | 13.9 | %
Finance leases |  | 1.2 | % |  | 1.2 | %
Maturity of lease liabilities | Future minimum lease payments by year as of January 2, 2021 were as follows (in thousands):
Fiscal Year |  | Operating Leases |  | Finance Leases
2021 |  | $ | 101,507 |  |  | $ | 1,095 |
2022 |  | 85,753 |  |  | 569 |
2023 |  | 66,909 |  |  | — |
2024 |  | 46,656 |  |  | — |
2025 |  | 33,012 |  |  | — |
Thereafter |  | 122,318 |  |  | — |
Total lease payments |  | $ | 456,155 |  |  | $ | 1,664 |
Less: Interest |  | 160,669 |  |  | 6 |
Total lease obligations |  | $ | 295,486 |  |  | $ | 1,658 |
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 |
Finance lease obligations |  | $ | 357,527 |  |  | $ | 2,478 |
Maturity of lease liabilities | Future minimum lease payments by year as of January 2, 2021 were as follows (in thousands):
Fiscal Year |  | Operating Leases |  | Finance Leases
2021 |  | $ | 101,507 |  |  | $ | 1,095 |
2022 |  | 85,753 |  |  | 569 |
2023 |  | 66,909 |  |  | — |
2024 |  | 46,656 |  |  | — |
2025 |  | 33,012 |  |  | — |
Thereafter |  | 122,318 |  |  | — |
Total lease payments |  | $ | 456,155 |  |  | $ | 1,664 |
Less: Interest |  | 160,669 |  |  | 6 |
Total lease obligations |  | $ | 295,486 |  |  | $ | 1,658 |
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 |
Finance lease obligations |  | $ | 357,527 |  |  | $ | 2,478 |
Supplemental Cash Flow Information | Supplemental cash flow information related to leases was as follows (in thousands):
| Fiscal Year 2020 |  | Fiscal Year 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 131,499 |  |  | $ | 116,846 |
Operating cash flows from finance leases | 33 |  |  | 38 |
Financing cash flows from finance leases | 1,051 |  |  | 945 |
Leased assets obtained in exchange for new finance lease liabilities | 49 |  |  | 83 |
Leased assets obtained in exchange for new operating lease liabilities | 26,474 |  |  | 41,510 |

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- 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=121609121&loc=SL77918686-209980 + Details
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- 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=121609121&loc=SL77918701-209980 + Details
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