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Leases (Tables)
6 Months Ended
Jun. 29, 2019
Leases [Abstract]  
Schedule of Lease Assets and Lease Liabilities

At June 29, 2019, the Company’s lease assets and lease liabilities were as follows:

 

 

 

June 29, 2019

 

Assets:

 

 

 

 

Operating lease assets

 

$

144,913

 

Finance lease assets

 

 

522

 

Total leased assets

 

$

145,435

 

 

 

 

 

 

Liabilities:

 

 

 

 

Current

 

 

 

 

Operating

 

$

32,003

 

Finance

 

 

287

 

Noncurrent

 

 

 

 

Operating

 

$

121,318

 

Finance

 

 

152

 

Total lease liabilities

 

$

153,760

 

Schedule of Components of Lease Expense For the three and six months ended June 29, 2019, the components of the Company’s lease expense were as follows

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 29,

 

June 29,

 

 

 

2019

 

2019

 

Operating lease cost

 

$

12,363

 

$

25,735

 

Finance lease cost:

 

 

 

 

 

 

 

Amortization of leased assets

 

 

138

 

 

218

 

Interest on lease liabilities

 

 

5

 

 

13

 

Total finance lease cost

 

$

143

 

$

231

 

Total lease cost

 

$

12,506

 

$

25,966

 

Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates

At June 29, 2019, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:

 

 

 

June 29, 2019

 

Weighted Average Remaining Lease Term (years)

 

 

 

 

Operating leases

 

 

7.22

 

Finance leases

 

 

1.66

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

Operating leases

 

 

7.04

 

Finance leases

 

 

4.33

 

Schedule of Maturity of Lease Liabilities

At June 29, 2019, the maturity of the Company’s lease liabilities in each of the next five fiscal years and thereafter were as follows:

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

Remainder of fiscal 2019

$

20,478

 

 

$

286

 

 

$

20,764

 

2020

 

39,951

 

 

 

135

 

 

 

40,086

 

2021

 

31,371

 

 

 

49

 

 

 

31,420

 

2022

 

21,254

 

 

 

20

 

 

 

21,274

 

2023

 

15,512

 

 

 

21

 

 

 

15,533

 

Thereafter

 

74,253

 

 

 

4

 

 

 

74,257

 

Total lease payments

$

202,819

 

 

$

515

 

 

$

203,334

 

Less imputed interest

 

49,498

 

 

 

76

 

 

 

49,574

 

Present value of lease liabilities

$

153,321

 

 

$

439

 

 

$

153,760

 

Minimum Commitments Under Non-Cancelable Obligations

Minimum commitments under non-cancelable obligations, primarily for office and rental facilities operating leases at December 29, 2018, consisted of the following:

 

2019

 

$

63,261

 

2020

 

 

38,491

 

2021

 

 

22,341

 

2022

 

 

14,017

 

2023

 

 

9,192

 

2024 and thereafter

 

 

37,704

 

Total

 

$

185,006

 

Summary of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow information related to leases for the six months ended June 29, 2019 were as follows:

 

 

 

Six Months Ended

 

 

 

June 29,

 

 

 

2019

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

Operating cash flows from operating leases

 

$

25,738

 

Operating cash flows from finance leases

 

$

13

 

Financing cash flows from finance leases

 

$

218

 

 

 

 

 

 

Leased assets obtained in exchange for new operating lease liabilities

 

$

12,084

 

Leased assets obtained in exchange for new finance lease liabilities

 

$

92