Operating Leases (Tables)

6 Months Ended

Jun. 28, 2019

Leases [Abstract]

Summary of Maturities of Lease Liabilities for Operating Liabilities

Maturities for the Company’s lease liabilities for all operating leases as of June 28, 2019 are as follows:

	Total
Year	Operating Leases
(amounts in thousands)
2019 (remaining)	$	2,870
2020		4,838
2021		3,537
2022		2,185
2023		1,404
2024 & thereafter		332
Total undiscounted operating lease payments	$	15,166
Less: Interest		(690	)
Total present value of operating lease liabilities	$	14,476

Summary of Weighted Average Remaining Lease Term, Discount Rate and Supplemental Cash Flow Information for All Operating Leases

The weighted average remaining lease term and discount rate for all operating leases as of June 28, 2019 are as follows:

	June 28, 2019
Weighted average remaining lease term (years)		3.43
Weighted average remaining discount rate		2.84	%

An initial right-of-use asset of $13.1 million was recognized as a non-cash asset addition upon adoption of Topic 842. Supplemental cash flow information related to the Company’s operating leases for the first two quarters of 2019 is as follows:

(amounts in thousands)	June 28, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$	3,382
Right-of-use assets obtained in exchange for new operating lease liabilities		4,308

Summary of Minimum Obligations under Operating Leases

As of December 31, 2018, minimum obligations under operating leases were as follows:

	Total
Year	Operating Leases
(amounts in thousands)
2019	$	5,586
2020		4,420
2021		3,050
2022		2,166
2023		1,411
2024 & thereafter		1,192
Minimum future lease obligations	$	17,825