Leases (Tables)

6 Months Ended

Jul. 02, 2021

Leases [Abstract]

Summary of Components of Lease Costs

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

	Three Months Ended				Six Months Ended
	July 2,		July 3,		July 2,		July 3,
	2021		2020		2021		2020
Operating lease cost	$	1,964	$	1,870	$	3,795	$	3,907
Finance lease cost
Amortization of right-of-use assets		151		247		302		495
Interest on lease liabilities		86		108		173		218
Variable lease cost		324		344		559		723
Total lease cost	$	2,525	$	2,569	$	4,829	$	5,343

Summary of Balance Sheet Information Related to Leases

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

	July 2,			December 31,
	2021			2020
Operating leases
Operating lease right-of-use assets	$	33,407		$	34,444
Current portion of operating lease liabilities	$	6,430		$	6,188
Operating lease liabilities		32,248			32,802
Total operating lease liabilities	$	38,678		$	38,990
Finance leases
Property, plant and equipment, gross	$	9,582		$	19,819
Accumulated depreciation		(4,767	)		(4,934	)
Finance lease assets included in property, plant and equipment, net	$	4,815		$	14,885
Accrued expenses and other current liabilities	$	582		$	9,720
Other liabilities		5,611			5,908
Total finance lease liabilities	$	6,193		$	15,628
Weighted-average remaining lease term (in years)
Operating leases		9.2			9.3
Finance leases		8.0			3.5
Weighted-average discount rate
Operating leases		5.39	%		5.50	%
Finance leases		5.54	%		3.00	%

Summary of Cash Flow Information Related to Leases

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

	Six Months Ended
	July 2,		July 3,
	2021		2020
Cash paid for amounts included in lease liabilities:
Operating cash flows from finance leases	$	173	$	218
Operating cash flows from operating leases	$	3,252	$	3,993
Financing cash flows from finance leases	$	9,024	$	680
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,257	$	2,164

Future Minimum Lease Payments Under Operating and Finance Leases

Future minimum lease payments under operating and finance leases expiring subsequent to July 2, 2021, 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 Leases			Finance Leases
2021 (remainder of year)	$	4,163		$	453
2022		7,290			907
2023		5,978			930
2024		5,184			954
2025		4,970			954
Thereafter		23,180			3,486
Total minimum lease payments		50,765			7,684
Less: Interest		(12,087	)		(1,491	)
Present value of lease liabilities	$	38,678		$	6,193