Leases (Tables)

3 Months Ended

Jul. 04, 2021

Leases [Abstract]

Lessee, Supplemental Balance Sheet Information Related To Leases

The following table presents lease assets and liabilities and their balance sheet classification:

	Classification	As of July 4, 2021		As of March 31, 2021
Operating Leases:
Right-of-use assets	Other assets	$	60,480	$	62,159
Operating lease current liabilities	Accrued expenses	21,057		21,774
Operating lease non-current liabilities	Other liabilities	41,825		42,528
Finance Leases:
Right-of-use assets	Property, plant, and equipment, net	$	524	$	573
Finance lease current liabilities	Accrued expenses	235		236
Finance lease non-current liabilities	Other liabilities	382		435

Lease, Cost

The components of lease expense for the first quarter ended July 4, 2021 and July 5, 2020 were as follows:

		Quarter ended
	Classification	July 4, 2021		July 5, 2020
Operating Leases:
Operating lease cost	Operating expenses	$	6,716	$	6,936
Variable lease cost	Operating expenses	2,573		2,119
Short term lease cost	Operating expenses	1,817		1,829
Finance Leases:
Depreciation	Operating expenses	$	60	$	42
Interest expense	Interest expense	8		7
Total		$	11,174	$	10,933

Lessee, Supplemental Information Related To Leases

The following table presents the weighted average lease term and discount rates for leases as of July 4, 2021 and March 31, 2021:

	July 4, 2021	March 31, 2021
Operating Leases:
Weighted average remaining lease term (years)	5.6 years	5.5 years
Weighted average discount rate	5.15%	5.16%
Finance Leases:
Weighted average remaining lease term (years)	2.9 years	3.1 years
Weighted average discount rate	4.81%	4.81%

Lessee, Operating Lease, Liability, Maturity

The following table presents future payments due under leases reconciled to lease liabilities as of July 4, 2021:

	Finance Leases		Operating Leases
Nine months ended March 31, 2022	$	200	$	18,344
Year ended March 31,
2023	220		17,097
2024	160		11,142
2025	47		7,341
2026	26		5,428
Thereafter	—		13,396
Total undiscounted lease payments	653		72,748
Present value discount	36		9,866
Lease liability	$	617	$	62,882

Finance Lease, Liability, Maturity

The following table presents future payments due under leases reconciled to lease liabilities as of July 4, 2021:

	Finance Leases		Operating Leases
Nine months ended March 31, 2022	$	200	$	18,344
Year ended March 31,
2023	220		17,097
2024	160		11,142
2025	47		7,341
2026	26		5,428
Thereafter	—		13,396
Total undiscounted lease payments	653		72,748
Present value discount	36		9,866
Lease liability	$	617	$	62,882

Lessee, Supplemental Cash Flow Information Related To Leases

The following table presents supplemental disclosures of cash flow information related to leases for the first quarter ended July 4, 2021 and July 5, 2020:

	Quarter ended
	July 4, 2021		July 5, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	8	$	7
Operating cash flows from operating leases	6,765		6,921
Financing cash flows from finance leases	60		41
Supplemental non-cash information on lease liabilities arising from right-of-use assets:
Right-of-use assets obtained in exchange for new finance lease liabilities	$	—	$	—
Right-of-use assets obtained in exchange for new operating lease liabilities	3,681		6,177