Leases (Tables)

9 Months Ended

Mar. 29, 2020

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 March 29, 2020:

Classification	Balance Sheet Location	March 29, 2020
Lease Assets
Operating lease assets	Operating lease assets	$	6,084
Finance lease assets	Property, plant & equipment, net		23,257
Total lease assets		$	29,341
Lease Liabilities
Current operating lease liabilities	Current operating lease liabilities	$	1,709
Current finance lease liabilities	Current portion of long-term debt		4,112
Total current lease liabilities		$	5,821
Non-current operating lease liabilities	Non-current operating lease liabilities	$	4,481
Non-current finance lease liabilities	Long-term debt		8,699
Total non-current lease liabilities		$	13,180
Total lease liabilities		$	19,001

Schedule of Components of Lease Cost

The following table sets forth the components of UNIFI’s total lease cost for the three months and nine months ended March 29, 2020:

	For the Three		For the Nine
	Months Ended		Months Ended
Lease Cost	March 29, 2020		March 29, 2020
Operating lease cost	$	507	$	2,104
Variable lease cost		158		355
Finance lease cost:
Amortization of lease assets		669		1,874
Interest on lease liabilities		126		327
Short-term lease cost		316		863
Total lease cost	$	1,776	$	5,523

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

The following table presents supplemental information related to leases at March 29, 2020:

	For the Nine
	Months Ended
Other Information	March 29, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases	$	2,104
Financing cash flows used by finance leases	$	4,606
Non-cash activities:
Leased assets obtained in exchange for new operating lease liabilities	$	175
Leased assets obtained in exchange for new finance lease liabilities	$	6,301

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 March 29, 2020:

Weighted Average Remaining Lease Term and Discount Rate	March 29, 2020
Weighted average remaining lease term (years):
Operating leases		4.2
Finance leases		4.2
Weighted average discount rate (percentage):
Operating leases		3.8	%
Finance leases		3.6	%

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 March 29, 2020 by fiscal year were:

Maturity of Lease Liabilities	Finance Leases			Operating Leases
Fiscal 2020	$	1,560		$	495
Fiscal 2021		3,989			1,870
Fiscal 2022		3,684			1,425
Fiscal 2023		1,260			1,231
Fiscal 2024		1,307			1,086
Fiscal years thereafter		2,625			628
Total minimum lease payments	$	14,425		$	6,735
Less estimated executory costs		(588	)		—
Less imputed interest		(1,026	)		(545	)
Present value of net minimum lease payments		12,811			6,190
Less current portion of lease obligations		(4,112	)		(1,709	)
Long-term portion of lease obligations	$	8,699		$	4,481

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