Leases (Tables)

3 Months Ended

Sep. 29, 2019

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 September 29, 2019:

Classification	Balance Sheet Location	September 29, 2019
Lease Assets
Operating lease assets	Operating lease assets	$	8,718
Finance lease assets	Property, plant & equipment, net		27,601
Total lease assets		$	36,319
Lease Liabilities
Current operating lease liabilities	Current operating lease liabilities	$	2,791
Current finance lease liabilities	Current portion of long-term debt		4,738
Total current lease liabilities		$	7,529
Noncurrent operating lease liabilities	Noncurrent operating lease liabilities	$	6,224
Noncurrent finance lease liabilities	Long-term debt		5,649
Total noncurrent lease liabilities		$	11,873
Total lease liabilities		$	19,402

Schedule of Components of Lease Cost

The following table sets forth the components of UNIFI’s total lease cost for the three months ended September 29, 2019:

	For the Three Months Ended
Lease Cost	September 29, 2019
Operating lease cost	$	853
Variable lease cost		90
Finance lease cost:
Amortization of lease assets		527
Interest on lease liabilities		100
Short-term lease cost		341
Total lease cost	$	1,911

Schedule of Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases

The following table presents supplemental information related to leases at September 29, 2019:

	For the Three Months Ended
Other Information	September 29, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases	$	853
Financing cash flows used by finance leases	$	1,608
Non-cash activities:
Leased assets obtained in exchange for new operating lease liabilities	$	85
Leased assets obtained in exchange for new finance lease liabilities	$	878

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 September 29, 2019:

Weighted Average Remaining Lease Term and Discount Rate	September 29, 2019
Weighted average remaining lease term (years):
Operating leases		4.1
Finance leases		3.1
Weighted average discount rate:
Operating leases		3.7	%
Finance leases		3.8	%

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 September 29, 2019 by fiscal year were:

Maturity of Lease Liabilities	Finance Leases			Operating Leases
Fiscal 2020 (excluding the three months ended September 29, 2019)	$	4,274		$	2,330
Fiscal 2021		3,011			2,709
Fiscal 2022		2,706			1,679
Fiscal 2023		331			1,247
Fiscal 2024		331			1,110
Fiscal years thereafter		1,015			680
Total minimum lease payments	$	11,668		$	9,755
Less estimated executory costs		(626	)		—
Less interest		(655	)		(740	)
Present value of net minimum lease payments		10,387			9,015
Less current portion of lease obligations		(4,738	)		(2,791	)
Long-term portion of lease obligations	$	5,649		$	6,224

Schedule of Future Minimum Capital Lease Payments and Future Minimum Lease Payments Under Non-Cancelable Operating Leases

As reported in the 2019 Form 10-K (under the previous accounting guidance), future minimum capital lease payments and future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of June 30, 2019 by fiscal year were:

	Capital Leases			Operating Leases
Fiscal 2020	$	5,917		$	3,164
Fiscal 2021		2,870			2,731
Fiscal 2022		2,565			1,492
Fiscal 2023		189			878
Fiscal 2024		189			755
Fiscal years thereafter		675			309
Total minimum lease payments	$	12,405		$	9,329
Less estimated executory costs		(644	)
Less interest		(643	)
Present value of net minimum capital lease payments		11,118
Less current portion of capital lease obligations		(5,519	)
Long-term portion of capital lease obligations	$	5,599

Schedule of Rent Expense

Rental expenses incurred under the operating leases and included in operating income consist of the following:

	For the Fiscal Year Ended
	June 30, 2019		June 24, 2018		June 25, 2017
Rental expenses	$	4,915	$	4,835	$	4,357