Leases (Tables)

3 Months Ended

Mar. 29, 2019

The following table summarizes the components of lease costs (in thousands):

	Three Months Ended
	March 29,
	2019
Operating lease cost	$	1,823
Finance lease cost
Amortization of right-of-use assets		178
Interest on lease liabilities		105
Variable lease cost		138
Total lease cost	$	2,244

Summary of Balance Sheet Information Related to Leases

The following table provides the details of balance sheet information related to leases (in thousands, except lease term and discount rate):

	March 29,
	2019
Operating leases
Operating lease right-of-use assets	$	35,374

Current portion of operating lease liabilities	$	5,198
Operating lease liabilities		31,808
Total operating lease liabilities	$	37,006

Finance leases
Property, plant and equipment, gross	$	13,523
Accumulated depreciation		(7,086	)
Property, plant and equipment, net	$	6,437

Accrued expenses and other current liabilities	$	599
Other liabilities		6,925
Total finance lease liabilities	$	7,524

Weighted-average remaining lease term (in years)
Operating leases		9.83
Finance leases		10.04
Weighted-average discount rate
Operating leases		5.95	%
Finance leases		5.47	%

Summary of Cash Flow Information Related to Leases

The following table provides the details of cash flow information related to leases (in thousands):

	Three Months Ended
	March 29,
	2019
Cash paid for amounts included in lease liabilities
Operating cash flows from finance leases	$	105
Operating cash flows from operating leases	$	1,944
Financing cash flows from finance leases	$	140
Right-of-use assets obtained in exchange for new operating lease liabilities	$	839

Future Minimum Lease Payments Under Operating and Finance Leases

Future minimum lease payments under operating and finance leases expiring subsequent to March 29, 2019, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands):

Year Ending December 31,	Operating Lease			Finance Lease
2019 (remainder of year)	$	5,289		$	742
2020		5,712			979
2021		5,512			907
2022		4,938			907
2023		4,360			930
Thereafter		25,976			5,395
Total minimum lease payments	$	51,787		$	9,860
Less: Interest		(14,781	)		(2,336	)
Present value of lease liabilities	$	37,006		$	7,524

Future Minimum Lease Payments Under Operating and Capital Leases

Future minimum lease payments under operating and capital leases expiring subsequent to December 31, 2018 under Accounting Standard Codification (“ASC”) Topic 840, Leases (“ASC 840”), including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands):

Year Ending December 31,	Operating Lease ⁽¹⁾		Capital Lease
2019	$	7,797	$	990
2020		6,263		980
2021		5,757		907
2022		5,264		907
2023		4,719		930
Thereafter		26,149		5,394
Total minimum lease payments	$	55,949	$	10,108

(1)

Future minimum lease payments as of December 31, 2018 included common-area maintenance and other property management costs and tax obligations.