COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 29, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of workers’ compensation collateral commitments

We have provided our insurance carriers and certain states with commitments in the form and amounts listed below:

(in thousands)	September 29, 2019		December 30, 2018
Cash collateral held by workers’ compensation insurance carriers	$	22,456	$	22,264
Cash and cash equivalents held in Trust	23,459		28,021
Investments held in Trust	147,354		156,618
Letters of credit (1)	6,677		6,691
Surety bonds (2)	22,462		21,881
Total collateral commitments	$	222,408	$	235,475

(1) We have agreements with certain financial institutions to issue letters of credit as collateral.

(2)

Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days’ notice.

Components of operating lease costs

Operating lease costs were comprised of the following:

	Thirteen weeks ended		Thirty-nine weeks ended
(in thousands)	September 29, 2019
Operating lease costs	$	4,350	$	12,985
Short-term lease costs	1,790		5,453
Other lease costs (1)	1,458		4,546
Total lease costs	$	7,598	$	22,984

(1) Other lease costs include immaterial variable lease costs and sublease income.

Other operating lease information

Other information related to our operating leases was as follows:

	September 29, 2019
Weighted average remaining lease term in years	3.5
Weighted average discount rate	5.0%

Maturities of Operating Lease Liabilities

Future non-cancelable minimum lease payments under our operating lease commitments as of September 29, 2019, are as follows for each of the next five years and thereafter:

(in thousands)
Remainder of 2019	$	4,219
2020	15,283
2021	11,195
2022	6,356
2023	4,123
2024	1,551
Thereafter	1,476
Total undiscounted future non-cancelable minimum lease payments (1)	44,203
Less: Imputed interest (2)	5,146
Present value of lease liabilities	$	39,057

(1) Operating lease payments exclude approximately $1.9 million of legally binding minimum lease payments for leases signed but not yet commenced.

(2) Amount necessary to reduce net minimum lease payments to present value calculated using our incremental borrowing rates, which are consistent with the lease terms at adoption date (for those leases in existence as of the adoption date of the new lease standard) or lease inception (for those leases entered into after the adoption date).

Future non-cancelable minimum lease payments under our operating lease commitments as of December 30, 2018 were as follows for each of the next five years and thereafter:

(in thousands)
2019	$	8,337
2020	7,192
2021	4,990
2022	2,442
2023	1,324
Thereafter	699
Total future non-cancelable minimum lease payments	$	24,984