XML 29 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Leases (Tables)
 9 Months Ended
Oct. 04, 2020
Leases [Abstract]  
Schedule of Leased Assets and Liabilities
Leases are included in right-of-use assets, net, current portion of lease obligations, and long-term portion of lease liabilities on our condensed consolidated balance sheet as of October 4, 2020 and December 29, 2019 as follows (in thousands):
October 4, 2020FinanceOperatingTotal
Right of use assets, net$11,463 $404,485 $415,948 
Current portion of lease obligations1,122 60,910 62,032 
Long-term portion of lease obligations12,666 438,085 450,751 
Total$13,788 $498,995 $512,783 
December 29, 2019FinanceOperatingTotal
Right of use assets, net$7,552 $418,696 $426,248 
Current portion of lease obligations725 41,974 42,699 
Long-term portion of lease obligations8,822 456,613 465,435 
Total$9,547 $498,587 $508,134 
Lease cost
The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and real estate taxes, are included in Occupancy on our condensed consolidated statement of operations as follows (in thousands):
Twelve Weeks EndedForty Weeks Ended
October 4, 2020October 6, 2019October 4, 2020October 6, 2019
Operating lease cost$14,992 $17,298 $51,931 $58,412 
Finance lease cost:
Amortization of right of use assets227 193615 634
Interest on lease liabilities150 122412 416
Total finance lease cost$377 $315 $1,027 $1,050 
Variable lease cost5,902 6,653 19,207 22,185 
Total$21,271 $24,266 $72,165 $81,647 
Schedule of operating lease maturities
Maturities of our lease liabilities as of October 4, 2020 were as follows (in thousands):
Finance Leases Operating LeasesTotal
Remainder of 2020$548 $29,370 $29,918 
20211,450 76,091 77,541 
20221,570 73,899 75,469 
20231,449 71,855 73,304 
20241,469 69,883 71,352 
Thereafter11,686 396,286 407,972 
Total future lease liability$18,172 $717,384 $735,556 
Less imputed interest4,384 218,389 222,773 
Fair value of lease liability$13,788 $498,995 $512,783 
Schedule of finance lease maturities
Maturities of our lease liabilities as of October 4, 2020 were as follows (in thousands):
Finance Leases Operating LeasesTotal
Remainder of 2020$548 $29,370 $29,918 
20211,450 76,091 77,541 
20221,570 73,899 75,469 
20231,449 71,855 73,304 
20241,469 69,883 71,352 
Thereafter11,686 396,286 407,972 
Total future lease liability$18,172 $717,384 $735,556 
Less imputed interest4,384 218,389 222,773 
Fair value of lease liability$13,788 $498,995 $512,783 
Supplemental cash flow related to leases
Supplemental cash flow information related to leases is as follows (in thousands, except other information):
Forty Weeks Ended
October 4, 2020October 6, 2019
Cash flows from operating activities
Cash paid related to lease liabilities
Operating leases$33,034 $58,930 
Finance leases412 383 
Cash flows from financing activities
Cash paid related to lease liabilities
Finance leases196 686 
Cash paid for amounts included in the measurement of lease liabilities:$33,642 $59,999 
Right of use assets obtained in exchange for operating lease obligations$31,731 $10,396 
Right of use assets obtained in exchange for finance lease obligations$4,581 $1,669 
Other information related to operating leases as follows:
Weighted average remaining lease term10.33 years10.84 years
Weighted average discount rate7.12 %7.33 %
Other information related to finance leases as follows:
Weighted average remaining lease term11.93 years11.63 years
Weighted average discount rate4.93 %4.71 %