Leases

12 Months Ended

Jan. 02, 2021

Leases

Leases

11. Leases

The Company leases certain facilities under operating lease agreements that expire at various dates through 2030. Some of these arrangements contain renewal options and require the Company to pay taxes, insurance and maintenance costs.

The Company adopted ASC Topic 842, Leases, on December 30, 2018, the first day of its fiscal 2019. Lease costs for operating leases were $5.6 million and $5.8 million during fiscal 2020 and 2019, respectively. The Company elected the practical expedient to not provide comparable presentation for periods prior to adoption. Rent expense for operating leases was $6.0 million for fiscal 2018.

Supplemental Lease Information

	January 2,		December 28,
Balance Sheet Information (in thousands)	2021		2019
Operating lease right-of-use assets	$	28,213	$	16,086
Operating lease liabilities	$	29,900	$	17,894

	Year Ended
	January 2,		December 28,
Cash Flow Information (in thousands)	2021		2019
Cash paid for operating lease liabilities	$	5,942	$	6,023
Right-of-use assets obtained in exchange for operating lease obligations	$	16,711	$	2,631

	January 2,		December 28,
Operating Lease Information	2021		2019
Weighted-average remaining lease term	6.5 years		4.5 years
Weighted-average discount rate	4.37	%	5.26	%

11. Leases (Continued)

The maturities of operating lease liabilities as of January 2, 2021 were as follows (in thousands):

Fiscal Year
2021	$	6,787
2022		6,174
2023		5,367
2024		4,874
2025		3,278
Thereafter		8,421
Total lease payments		34,901
Less imputed interest		(5,001)
Total lease liabilities	$	29,900