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Leases (Tables)
12 Months Ended
Oct. 29, 2023
Leases [Abstract]  
Schedule of supplemental balance sheet information, lease term, and discount rate
Lease information included on the Consolidated Statements of Financial Position are:
In thousandsLocation on Consolidated Statements of
Financial Position
October 29, 2023October 30, 2022
Right-of-Use Assets
OperatingOther Assets$131,920 $73,613 
FinanceNet Property, Plant, and Equipment37,999 45,563 
Total Right-of-Use Assets$169,919 $119,176 
Liabilities
Current
OperatingAccrued Expenses$26,238 $21,183 
FinanceCurrent Maturities of Long-term Debt8,597 8,391 
Noncurrent
OperatingOther Long-term Liabilities109,237 55,571 
FinanceLong-term Debt Less Current Maturities27,488 36,082 
Total Lease Liabilities$171,560 $121,227 
The weighted-average remaining lease term and discount rate for lease liabilities included on the Consolidated Statements of Financial Position are:
October 29, 2023October 30, 2022
Weighted-average Remaining Lease Term
Operating Leases6.0 years5.3 years
Finance Leases5.3 years6.3 years
Weighted-average Discount Rate
Operating Leases4.43 %2.08 %
Finance Leases3.37 %3.44 %
Schedule of lease expenses and supplemental cash flow and other information related to leases
Lease expenses are:
Fiscal Year Ended
In thousandsOctober 29, 2023October 30, 2022October 31, 2021
Operating Lease Cost (1)
$34,209 $25,702 $21,993 
Finance Lease Cost
Amortization of Right-of-Use Assets7,594 7,965 8,104 
Interest on Lease Liabilities1,361 1,707 2,019 
Variable Lease Cost (2)
511,906 463,439 544,635 
Net Lease Cost$555,070 $498,813 $576,751 
(1)        Includes short-term lease costs, which are immaterial.
(2)        ASC 842 - Leases requires disclosure of payments related to agreements with an embedded lease that are not otherwise reflected on the balance sheet. The Company's variable lease costs primarily include inventory related expenses, such as materials, labor, and overhead from manufacturing and service agreements that contain embedded leases. Variability of these costs is determined based on usage or output and may vary for other reasons such as changes in material prices.
Supplemental cash flow and other information related to leases for the fiscal year ended are:
In thousandsOctober 29, 2023October 30, 2022October 31, 2021
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating Cash Flows from Operating Leases$29,436 $24,098 $20,305 
Operating Cash Flows from Finance Leases1,361 1,707 2,019 
Financing Cash Flows from Finance Leases8,407 8,491 8,598 
Right-of-Use Assets obtained in exchange for new finance lease liabilities
19 — — 
Right-of-Use Assets obtained in exchange for new operating lease liabilities84,087 19,646 31,962 
Schedule of maturities of financing lease liabilities
The maturity of the Company's lease liabilities as of October 29, 2023, are:
In thousandsOperating Leases
Finance Leases (1)
Total (2)
2024$31,718 $9,637 $41,355 
202529,050 8,101 37,152 
202626,066 5,666 31,732 
202719,769 4,314 24,083 
202812,873 10,542 23,414 
2029 and beyond35,608 685 36,293 
Total Lease Payments$155,084 $38,944 $194,028 
Less: Imputed Interest19,609 2,859 22,468 
Present Value of Lease Liabilities$135,475 $36,085 $171,560 
(1)        Over the life of the lease contracts, finance lease payments include $8.1 million related to purchase options which are reasonably certain of being exercised.
(2)        Lease payments exclude $31.2 million of legally binding minimum lease payments for leases signed but not yet commenced.
Schedule of maturities of operating lease liabilities
The maturity of the Company's lease liabilities as of October 29, 2023, are:
In thousandsOperating Leases
Finance Leases (1)
Total (2)
2024$31,718 $9,637 $41,355 
202529,050 8,101 37,152 
202626,066 5,666 31,732 
202719,769 4,314 24,083 
202812,873 10,542 23,414 
2029 and beyond35,608 685 36,293 
Total Lease Payments$155,084 $38,944 $194,028 
Less: Imputed Interest19,609 2,859 22,468 
Present Value of Lease Liabilities$135,475 $36,085 $171,560 
(1)        Over the life of the lease contracts, finance lease payments include $8.1 million related to purchase options which are reasonably certain of being exercised.
(2)        Lease payments exclude $31.2 million of legally binding minimum lease payments for leases signed but not yet commenced.