Lease Commitments

6 Months Ended

Jun. 29, 2019

Leases [Abstract]

Lease Commitments

Lease Commitments

The company leases certain office, distribution, and other property under non-cancelable operating leases expiring at various dates through 2033. Substantially all leases are classified as operating leases. During the second quarter and first six months of 2019, the company recorded operating lease cost of $23,264 and $49,990, respectively.

The following amounts were recorded in the consolidated balance sheets at June 29, 2019:

	June 29, 2019
Operating Leases
Right-of-use asset	$	312,975
Lease liability - current	52,792
Lease liability - non-current	311,075
Total operating lease liabilities	$	363,867

Maturities of operating lease liabilities at June 29, 2019 were as follows:

	June 29, 2019
2019	$	47,470
2020	76,683
2021	60,112
2022	47,123
2023	36,713
Thereafter	158,150
Total lease payments	426,251
Less imputed interest	(62,384		)
Total	$	363,867

Other information pertaining to leases consists of the following:

	June 29, 2019
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of operating lease liabilities	$	57,791
Right-of-use assets obtained in exchange for operating lease obligations	37,957
Operating Lease Term and Discount Rate
Weighted-average remaining lease term in years	8
Weighted-average discount rate	5.2		%