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Lease Commitments (Tables)

9 Months Ended

Oct. 03, 2021

Leases [Abstract]

Summary of Components of Lease Expense

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


		13 Weeks Ended								39 Weeks Ended
		October 3, 2021				September 27, 2020				October 3, 2021				September 27, 2020
		(In thousands)
Lease expense:
Amortization of right-of-use assets		$	742			$	660			$	2,112			$	2,070
Interest on lease liabilities			66				67				186				234
Finance lease expense			808				727				2,298				2,304
Operating lease expense			20,535				20,382				61,255				60,986
Variable lease expense			4,572				4,595				13,775				10,577
Sublease income			(13	)			(293	)			(90	)			(879	)
Total lease expense		$	25,902			$	25,411			$	77,238			$	72,988

Schedule of Other Information Related To Leases

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


		39 Weeks Ended
		October 3, 2021				September 27, 2020
		(In thousands)
Operating cash flows from operating leases		$	64,226			$	57,243
Financing cash flows from finance leases			2,141				2,067
Operating cash flows from finance leases			198				234
Cash paid for amounts included in the measurement of lease liabilities		$	66,565			$	59,544

Right-of-use assets obtained in exchange for new finance lease liabilities		$	7,661			$	—
Right-of-use assets obtained in exchange for new operating lease liabilities		$	47,325			$	75,025
Weighted-average remaining lease term—finance leases		3.9 years				2.6 years
Weighted-average remaining lease term—operating leases		4.9 years				5.2 years
Weighted-average discount rate—finance leases			3.2	%			4.7	%
Weighted-average discount rate—operating leases			5.4	%			6.2	%

Schedule of Maturities For Finance And Operating Leases

In accordance with ASC 842, maturities of finance and operating lease liabilities as of October 3, 2021 were as follows:


Year Ending:		Finance Leases				Operating Leases
		(In thousands)
2021 (remaining three months)		$	998			$	22,913
2022			3,283				83,566
2023			2,361				66,935
2024			1,543				58,016
2025			1,060				41,385
Thereafter			1,064				55,618
Undiscounted cash flows		$	10,309			$	328,433
Reconciliation of lease liabilities:
Weighted-average remaining lease term		3.9 years				4.9 years
Weighted-average discount rate			3.2	%			5.4	%
Present values		$	9,770			$	288,578
Lease liabilities - current			3,379				76,113
Lease liabilities - long-term			6,391				212,465
Lease liabilities - total		$	9,770			$	288,578
Difference between undiscounted and discounted cash flows		$	539			$	39,855