Leases

We lease certain of our facilities, equipment and vehicles under non-cancelable operating and finance leases. Leases with initial terms with

months or less are

not

recorded on the condensed consolidated balance sheet, but we recognized those lease payments in the condensed consolidated statements of operations on a straight-line basis over the lease term. Lease and non-lease components are included in the calculation of the ROU asset and lease liabilities.

Our leases have remaining lease terms of

year to

years, some of which include

one

or more options to extend the leases for up to

years. Our lease term includes renewal terms when we are reasonably certain we will exercise the renewal options.

We sublease certain leased assets to

third

parties, mainly as a result of unused space in our facilities. Supplemental balance sheet information related to leases was as follows:

(in thousands)	Classification	June 29, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	35,224
Finance lease assets	Property, plant and equipment, net (1)		2,604
Total lease assets		$	37,828
Liabilities
Current
Operating	Other accrued liabilities	$	4,958
Finance	Other accrued liabilities		35
Noncurrent
Operating	Long-term lease liabilities		30,168
Finance	Long-term lease liabilities		2,605
Total lease liabilities		$	37,766

Weighted-average remaining lease term (years)
Operating leases			8.2
Finance leases			1.0

Weighted-average discount rate
Operating leases			6.1	%
Finance leases			4.5	%

(

)

Finance lease assets are recorded net of accumulated amortization of

$0.1

million.

The components of lease expense were as follows:

	Three Months Ended			Six Months Ended
(in thousands)	June 29, 2019			June 29, 2019
Operating leases	$	2,139		$	4,261
Variable leases		635			1,201
Short-term operating leases		66			144
Finance leases
Amortization of leased assets		21			62
Interest on lease liabilities		29			88
Sublease income		(34	)		(70	)
Net lease cost	$	2,856		$	5,686

Future minimum lease payments at

June 29, 2019,

are as follows:

	Operating			Finance
(in thousands)	leases (1)			leases			Total
2019	$	3,079		$	76		$	3,155
2020		6,825			2,682			9,507
2021		5,631			-			5,631
2022		5,374			-			5,374
2023		4,940			-			4,940
Thereafter		21,037			-			21,037
Total lease payments		46,886			2,758			49,644
Less: Interest		(11,760	)		(118	)		(11,878	)
Present value of lease liabilities	$	35,126		$	2,640		$	37,766

(

)

Excludes sublease income of

$0.1

million in both

2019

and

2020.

Supplemental cash flow information related to leases was as follows:

	Six Months Ended
(in thousands)	June 29, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,628
Operating cash flows from finance leases	$	73
Financing cash flows from finance leases	$	17
Leased assets obtained in exchange for new operating lease liabilities	$	38,487