Lease Commitments (Tables)

3 Months Ended

Apr. 04, 2021

In accordance with ASC 842, the components of lease expense were as follows:

	13 Weeks Ended
	April 4, 2021			March 29, 2020
	(In thousands)
Lease expense:
Amortization of right-of-use assets	$	649		$	722
Interest on lease liabilities		59			89
Finance lease expense		708			811
Operating lease expense		20,336			20,287
Variable lease expense		4,492			4,124
Sublease income		(78	)		(293	)
Total lease expense	$	25,458		$	24,929

In accordance with ASC 842, other information related to leases was as follows:

	13 Weeks Ended
	April 4, 2021			March 29, 2020
	(In thousands)
Operating cash flows from operating leases	$	22,145		$	20,742
Operating cash flows from finance leases		60			112
Financing cash flows from finance leases		931			951
Cash paid for amounts included in the measurement of lease liabilities	$	23,136		$	21,805

Right-of-use assets obtained in exchange for new finance lease liabilities	$	3,334		$	—
Right-of-use assets obtained in exchange for new operating lease liabilities	$	9,446		$	23,282
Weighted-average remaining lease term—finance leases	3.5 years			3.0 years
Weighted-average remaining lease term—operating leases	4.9 years			5.2 years
Weighted-average discount rate—finance leases		3.7	%		4.7	%
Weighted-average discount rate—operating leases		5.9	%		6.1	%

In accordance with ASC 842, maturities of finance and operating lease liabilities as of April 4, 2021 were as follows:

Year Ending:	Finance Leases			Operating Leases
	(In thousands)
2021 (remaining nine months)	$	1,898		$	64,078
2022		2,451			75,954
2023		1,599			59,910
2024		711			51,230
2025		341			34,803
Thereafter		388			41,831
Undiscounted cash flows	$	7,388		$	327,806
Reconciliation of lease liabilities:
Weighted-average remaining lease term	3.5 years			4.9 years
Weighted-average discount rate		3.7	%		5.9	%
Present values	$	6,996		$	284,087
Lease liabilities - current		2,664			73,196
Lease liabilities - long-term		4,332			210,891
Lease liabilities - total	$	6,996		$	284,087
Difference between undiscounted and discounted cash flows	$	392		$	43,719