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Leases (Tables) | 12 Months Ended
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Jun. 27, 2021
Leases [Abstract] |
Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities | The following table sets forth the balance sheet location and values of the Company’s lease assets and lease liabilities at June 27, 2021 and June 28, 2020:
Classification |  | Balance Sheet Location |  | June 27, 2021 |  |  | June 28, 2020 |
Lease Assets |  |  |  |  |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 8,772 |  |  | $ | 8,940 |
Finance lease assets |  | Property, plant & equipment, net |  |  | 16,037 |  |  |  | 22,012 |
Total lease assets |  |  |  | $ | 24,809 |  |  | $ | 30,952 |
Lease Liabilities |  |  |  |  |  |  |  |  |  |
Current operating lease liabilities |  | Current operating lease liabilities |  | $ | 1,856 |  |  | $ | 1,783 |
Current finance lease liabilities |  | Current portion of long-term debt |  |  | 3,545 |  |  |  | 3,563 |
Total current lease liabilities |  |  |  | $ | 5,401 |  |  | $ | 5,346 |
Non-current operating lease liabilities |  | Non-current operating lease liabilities |  | $ | 7,032 |  |  | $ | 7,251 |
Non-current finance lease liabilities |  | Long-term debt |  |  | 4,930 |  |  |  | 7,818 |
Total non-current lease liabilities |  |  |  | $ | 11,962 |  |  | $ | 15,069 |
Total lease liabilities |  |  |  | $ | 17,363 |  |  | $ | 20,415 |
Schedule of Components of Lease Cost | The following table sets forth the components of UNIFI’s total lease cost for fiscal 2021 and 2020:
|  | For The Fiscal Year |  |  | For The Fiscal Year |
Lease Cost |  | June 27, 2021 |  |  | June 28, 2020 |
Operating lease cost |  | $ | 2,465 |  |  | $ | 2,503 |
Variable lease cost |  |  | 503 |  |  |  | 483 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of lease assets |  |  | 1,998 |  |  |  | 2,527 |
Interest on lease liabilities |  |  | 365 |  |  |  | 439 |
Short-term lease cost |  |  | 1,007 |  |  |  | 1,124 |
Total lease cost |  | $ | 6,338 |  |  | $ | 7,076 |
Schedule of Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases | The following table presents supplemental information related to leases at June 27, 2021 and June 28, 2020:
|  | For The Fiscal Year |  |  | For The Fiscal Year |
Other Information |  | June 27, 2021 |  |  | June 28, 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows used by operating leases |  | $ | 2,465 |  |  | $ | 2,503 |
Financing cash flows used by finance leases |  | $ | 3,646 |  |  | $ | 6,035 |
Non-cash activities: |  |  |  |  |  |  |  |
Leased assets obtained in exchange for new operating lease liabilities |  | $ | 2,606 |  |  | $ | 5,525 |
Leased assets obtained in exchange for new finance lease liabilities |  | $ | 740 |  |  | $ | 6,301 |
Schedule of Weighted-Average Remaining Lease Term and Discount Rate for Operating Leases and Finance Leases | The following table sets forth UNIFI's weighted average remaining lease term in years and discount rate percentage used in the calculation of its outstanding lease liabilities as of June 27, 2021 and June 28, 2020:
Weighted Average Remaining Lease Term and Discount Rate |  | June 27, 2021 |  |  | June 28, 2020 |
Weighted average remaining lease term (years): |  |  |  |  |  |  |  |
Operating leases |  |  | 5.9 |  |  |  | 6.6 |
Finance leases |  |  | 3.8 |  |  |  | 4.2 |
Weighted average discount rate (percentage): |  |  |  |  |  |  |  |
Operating leases |  |  | 5.1 | % |  |  | 5.0 | %
Finance leases |  |  | 3.6 | % |  |  | 3.6 | %
Schedule of Future Minimum Lease Payments for Finance Leases and Operating Leases | Future minimum finance lease payments and future minimum payments under non-cancelable operating leases with initial lease terms in excess of one year under Topic 842 as of June 27, 2021 by fiscal year were:
Maturity of Lease Liabilities |  | Finance Leases |  |  | Operating Leases |
Fiscal 2022 |  | $ | 3,862 |  |  | $ | 2,266 |
Fiscal 2023 |  |  | 1,487 |  |  |  | 2,003 |
Fiscal 2024 |  |  | 1,487 |  |  |  | 1,411 |
Fiscal 2025 |  |  | 1,334 |  |  |  | 1,225 |
Fiscal 2026 |  |  | 846 |  |  |  | 1,159 |
Fiscal years thereafter |  |  | 559 |  |  |  | 2,305 |
Total minimum lease payments |  | $ | 9,575 |  |  | $ | 10,369 |
Less estimated executory costs |  |  | (488 | ) |  |  | — |
Less imputed interest |  |  | (612 | ) |  |  | (1,481 | )
Present value of net minimum lease payments |  |  | 8,475 |  |  |  | 8,888 |
Less current portion of lease obligations |  |  | (3,545 | ) |  |  | (1,856 | )
Long-term portion of lease obligations |  | $ | 4,930 |  |  | $ | 7,032 |
Schedule of Rent Expense | As reported in the 2019 Form 10-K under the previous accounting guidance, rental expenses incurred under operating leases and included in operating income consist of the following:
|  | For the Fiscal Year Ended |
|  | June 30, 2019 |
Rental expenses |  | $ | 4,915 |

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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 rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41499-112717 + Details
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