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LEASES | 12 Months Ended
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Jun. 27, 2020
Leases [Abstract] |
Lessee, Operating Leases | LEASES The Company has several commitments under operating leases for warehouses, manufacturing facilities, office buildings, and equipment with initial terms that expire at various dates during the next 1 year to 11 years. The Company has some operating leases that include an extension clause. Management has considered the likelihood of exercising each extension option included and estimated the duration of the extension option, for those leases management determined to be reasonably certain, in calculating the lease term for measurement of the right of use asset and liability. For operating leases, management assumed a discount rate of 4% - 5.9%. The weighted average discount rate is disclosed in the tables below. The components of lease cost as of June 27, 2020 were (in thousands):
|  | Year Ended
Lease cost | Classification | June 27, 2020
Operating lease cost | Cost of sales | $ | 4,511 |
Operating lease cost | Selling, general and administrative expenses | 1,266 |
Total lease cost |  | $ | 5,777 |
Amounts reported in the Consolidated Balance Sheet as of June 27, 2020 were (in thousands, except weighted average lease term and discount rate):
|  | June 27, 2020
Operating Leases: |  |
Operating lease right of use assets |  | $ | 17,568 |
Operating lease liabilities (1) |  | 17,173 |
Weighted-average remaining lease term (in years) |  |
Operating leases |  | 6.46
Weighted-average discount rate |  |
Operating leases |  | 4.07 | %
(1) The current portion of the total operating lease liabilities of $4.5 million is classified under Other Current Liabilities, resulting in $12.6 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the consolidated balance sheet. Other information related to leases was as follows (in thousands):
|  | June 27, 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases |  | 4,237 |
The Company entered into one new lease during the fiscal year, resulting in a non-cash impact of $0.4 million. Future lease payments under non-cancellable leases as of June 27, 2020 are as follows (in thousands):
Fiscal Years Ending |  | Operating Leases
2021 |  | $ | 4,250 |
2022 |  | 3,373 |
2023 |  | 2,598 |
2024 |  | 2,004 |
2025 |  | 1,894 |
Thereafter |  | 5,674 |
Total undiscounted lease payments |  | 19,793 |
Less: present value discount |  | 2,620 |
Total lease liabilities |  | $ | 17,173 |
As previously disclosed in our Annual Report on Form 10-K for the fiscal year ended June 29, 2019 and under the previous lease accounting standard ASC 840, the aggregate future minimum payments under non-cancellable operating leases, as of June 29, 2019, are as follows (in thousands):
Fiscal Years Ending |  | Operating Leases
2020 |  | $ | 4,777 |
2021 |  | 3,563 |
2022 |  | 2,641 |
2023 |  | 1,866 |
2024 |  | 1,271 |
Thereafter |  | 4,121 |
Total minimum lease payments |  | $ | 18,239 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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