Leases (Tables)

9 Months Ended

Sep. 26, 2020

Leases [Abstract]

Supplemental Balance Sheet Information

The following table presents our assets and liabilities related to our leases as of September 26, 2020 and December 28, 2019:

		September 26, 2020		December 28, 2019
		(In thousands)
Assets	Classification
Operating lease right-of-use assets	Operating lease right-of-use assets	$	53,124	$	54,408
Finance lease right-of-use assets (1)	Property and equipment, net	151,017		141,922
Total lease right-of-use assets		$	204,141	$	196,330
Liabilities
Current portion
Operating lease liabilities	Operating lease liabilities - short term	$	6,926	$	7,317
Finance lease liabilities	Finance lease liabilities - short term	5,469		6,486
Non-current portion
Operating lease liabilities	Operating lease liabilities - long term	45,883		47,091
Finance lease liabilities	Finance lease liabilities - long term	267,753		191,525
Total lease liabilities		$	326,031	$	252,419

(1) Finance lease right-of-use assets are presented net of accumulated amortization of $55.9 million and $30.8 million as of September 26, 2020 and December 28, 2019, respectively.

Supplemental balance sheet information related to leases was as follows:

	September 26, 2020			December 28, 2019
	(In thousands)
Finance leases
Property and equipment	$	206,920		$	172,720
Accumulated depreciation	(55,903)			(30,798)
Property and equipment, net	$	151,017		$	141,922
Weighted Average Remaining Lease Term (in years)
Operating leases	11.12			11.71
Finance leases	16.29			17.12
Weighted Average Discount Rate
Operating leases	9.24		%	9.34		%
Finance leases	9.86		%	10.11		%

The major categories of our finance lease liabilities as of September 26, 2020 and December 28, 2019 are as follows:

	September 26, 2020		December 28, 2019
	(In thousands)
Equipment and vehicles	$	29,451	$	32,471
Real estate	243,771		165,540
Total finance leases	$	273,222	$	198,011

Lease Cost

The components of lease expense were as follows:

	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
	(In thousands)				(In thousands)
Operating lease cost:	$	3,108	$	2,911	$	9,206	$	9,047
Finance lease cost:
Amortization of right-of-use assets	$	4,648	$	2,699	$	11,526	$	8,722
Interest on lease liabilities	4,949		4,347		17,670		12,216
Total finance lease costs	$	9,597	$	7,046	$	29,196	$	20,938

Supplemental cash flow information related to leases was as follows:

	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
	(In thousands)				(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,029	$	2,990	$	8,662	$	8,957
Operating cash flows from finance leases	4,949		4,347		17,670		12,216
Financing cash flows from finance leases	$	2,893	$	2,421	$	7,327	$	6,652
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	3,640	$	—	$	3,668	$	—
Finance leases	$	3,145	$	14,403	$	3,145	$	18,652

Operating Lease Maturities

As of September 26, 2020, maturities of lease liabilities were as follows:

	Operating leases		Finance leases
	(In thousands)
2020	$	11,727	$	6,729
2021	9,383		30,025
2022	8,641		29,325
2023	7,286		28,996
2024	7,590		28,376
Thereafter	45,803		408,808
Total lease payments	$	90,430	$	532,259
Less: imputed interest	(37,621)		(259,037)
Total	$	52,809	$	273,222

On December 28, 2019, maturities of lease liabilities were as follows:

	Operating leases		Finance leases
	(In thousands)
2020	$	11,348	$	24,002
2021	10,111		23,052
2022	8,048		22,230
2023	7,330		21,854
2024	6,413		21,380
Thereafter	50,901		327,439
Total lease payments	$	94,151	$	439,957
Less: imputed interest	(39,743)		(241,946)
Total	$	54,408	$	198,011

Finance Lease Maturities

As of September 26, 2020, maturities of lease liabilities were as follows:

	Operating leases		Finance leases
	(In thousands)
2020	$	11,727	$	6,729
2021	9,383		30,025
2022	8,641		29,325
2023	7,286		28,996
2024	7,590		28,376
Thereafter	45,803		408,808
Total lease payments	$	90,430	$	532,259
Less: imputed interest	(37,621)		(259,037)
Total	$	52,809	$	273,222

On December 28, 2019, maturities of lease liabilities were as follows:

	Operating leases		Finance leases
	(In thousands)
2020	$	11,348	$	24,002
2021	10,111		23,052
2022	8,048		22,230
2023	7,330		21,854
2024	6,413		21,380
Thereafter	50,901		327,439
Total lease payments	$	94,151	$	439,957
Less: imputed interest	(39,743)		(241,946)
Total	$	54,408	$	198,011