Leases

9 Months Ended

Oct. 02, 2021

Leases [Abstract]

Leases

Note 2 – Leases

The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows:

	October 2, 2021		December 31, 2020
Right of use assets
Operating Leases
Buildings and improvements	$	105,072	$	97,429
Machinery and equipment		5,011		5,011
Total	$	110,083	$	102,440
Current lease liabilities
Operating Leases
Buildings and improvements	$	18,944	$	19,370
Machinery and equipment		2,639		2,704
Total	$	21,583	$	22,074
Long-term lease liabilities
Operating Leases
Buildings and improvements	$	91,744	$	83,926
Machinery and equipment		2,320		2,294
Total	$	94,064	$	86,220
Total lease liabilities	$	115,647	$	108,294

Lease expense is classified in the statements of operations based on asset use.  Total lease cost recognized on the consolidated condensed statements of operations is as follows:

	Fiscal quarters ended				Nine fiscal months ended
	October 2, 2021		October 3, 2020		October 2, 2021		October 3, 2020
Lease expense
Operating lease expense	$	6,170	$	5,898	$	18,570	$	17,310
Short-term lease expense		691		260		1,444		679
Variable lease expense		97		11		290		40
Total lease expense	$	6,958	$	6,169	$	20,304	$	18,029

The Company paid $18,000 and $18,703 for its operating leases in the nine fiscal months ended October 2, 2021 and October 3, 2020, respectively, which are included in operating cash flows on the consolidated condensed statements of cash flows.  The weighted-average remaining lease term for the Company's operating leases is 9.3 years and the weighted-average discount rate is 5.6% as of October 2, 2021.

The undiscounted future lease payments for the Company's operating lease liabilities are as follows:

	October 2, 2021
2021 (excluding the nine fiscal months ended October 2, 2021)	$	5,692
2022		21,305
2023		19,061
2024		16,745
2025		15,255
Thereafter		71,276

The undiscounted future lease payments presented in the table above include payments through the term of the lease, which may include periods beyond the noncancellable term.  The difference between the total payments above and the lease liability balance is due to the discount rate used to calculate lease liabilities.