Recent Accounting Pronouncements (Tables)

3 Months Ended

Mar. 30, 2019

Effect of Changes in Financial Statements Due to Adoption of New Lease Standard

The effect of the changes made to our consolidated December 30, 2018 balance sheet for the adoption of the new lease standard was as follows (in thousands):

	Balance at December 29, 2018		Adjustments Due to ASC 842			Balance at December 30, 2018
Prepaid expenses and other current assets	$	2,528	$	(221	)1	$	2,307
Total current assets	$	95,633	$	(221	)1	$	95,412
Operating lease right-of-use assets	$	—	$	11,635	1,2,3	$	11,635
Total assets	$	122,070	$	11,414	1,2,3	$	133,484
Current operating lease liabilities	$	—	$	2,581	5	$	2,581
Accounts payable	$	6,053	$	(4	)4	$	6,049
Other accrued liabilities	$	4,952	$	(13	)3	$	4,939
Total current liabilities	$	30,008	$	2,564	3,4,5	$	32,572
Noncurrent operating lease liabilities	$	—	$	11,120	5	$	11,120
Other long-term liabilities	$	2,438	$	(2,270	)3	$	168
Total non-current liabilities	$	2,438	$	8,850	3,4,5	$	11,288
Total liabilities and stockholders’ equity	$	122,070	$	11,414	,4,5	$	133,484

1	Represents prepaid rent reclassified to operating lease right-of-use assets.
2	Represents capitalization of operating lease right-of-use assets and reclassification of straight-line rent accrual, and tenant incentives.
3	Represents reclassification of straight-line rent accrual to operating lease right-of-use assets.
4	Represents accrued rent reclassified to operating lease right-of-use assets.
5	Represents recognition of operating lease liabilities.