Leases (Tables)

9 Months Ended

Sep. 27, 2019

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

	Three Months Ended		Nine Months Ended
	September 27,		September 27,
	2019		2019
Operating lease cost	$	1,830	$	5,695
Finance lease cost
Amortization of right-of-use assets		228		583
Interest on lease liabilities		110		316
Variable lease cost		505		1,051
Total lease cost	$	2,673	$	7,645

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):

	September 27,
	2019
Operating leases
Operating lease right-of-use assets	$	35,487

Current portion of operating lease liabilities	$	5,065
Operating lease liabilities		32,181
Total operating lease liabilities	$	37,246

Finance leases
Property, plant and equipment, gross	$	22,677
Accumulated depreciation		(7,537	)
Property, plant and equipment, net	$	15,140

Accrued expenses and other current liabilities	$	1,294
Other liabilities		14,960
Total finance lease liabilities	$	16,254

Weighted-average remaining lease term (in years)
Operating leases		10.1
Finance leases		5.0
Weighted-average discount rate
Operating leases		5.73	%
Finance leases		5.06	%

Summary of Cash Flow Information Related to Leases

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

	Nine Months Ended
	September 27,
	2019
Cash paid for amounts included in lease liabilities
Operating cash flows from finance leases	$	404
Operating cash flows from operating leases	$	5,124
Financing cash flows from finance leases	$	547
Right-of-use assets obtained in exchange for new operating lease liabilities	$	5,649
Right-of-use assets obtained in exchange for new finance lease liabilities	$	9,209

Future Minimum Lease Payments Under Operating and Finance Leases

Future minimum lease payments under operating and finance leases expiring subsequent to September 27, 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⁽¹⁾
2019 (remainder of year)	$	1,561		$	433
2020		6,111			9,891
2021		5,868			907
2022		5,065			907
2023		4,419			930
Thereafter		28,415			5,394
Total minimum lease payments		51,439			18,462
Less: Interest		(14,193	)		(2,208	)
Present value of lease liabilities	$	37,246		$	16,254

(1)

Future minimum lease payments under finance lease include the exercise price to purchase a facility in Germany for the year ending December 31, 2020.

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 Standards Codification Topic 840, “Leases”, 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.