Leases (Tables)

3 Months Ended

Mar. 28, 2020

Schedule of components of lease expense, lease term, and discount rate

Lease term and discount rate are as follows:



	At March 28, 2020		At March 30, 2019
Weighted Average Remaining Lease Term
Operating Leases	4.44 years		4.16 years
Finance Leases	8.08 years		8.89 years

Weighted Average Discount Rate
Operating Leases	3.2	%	3.3	%
Finance Leases	1.4	%	2.1	%

The components of lease costs are as follows:



	Three Months Ended March 28, 2020								Three Months Ended March 30, 2019
	Cost of Goods Sold			Selling, General and Administrative		Total			Cost of Goods Sold		Selling, General and Administrative		Total
Operating lease costs
Fixed	$	7,401		24,813		32,214			7,688		24,455		32,143
Short-term	2,641			3,805		6,446			1,439		2,909		4,348
Variable	2,269			8,126		10,395			2,278		5,200		7,478
Sub-leases	(97		)	(141	)	(238		)	(84	)	(133	)	(217	)
	$	12,214		36,603		48,817			11,321		32,431		43,752


	Three Months Ended March 28, 2020								Three Months Ended March 30, 2019
	Depreciation and Amortization			Interest		Total			Depreciation and Amortization		Interest		Total
Finance lease costs
Amortization of leased assets	$	1,254		—		1,254			432		—		432
Interest on lease liabilities	—			149		149			—		31		31
	$	1,254		149		1,403			432		31		463
Net lease costs						$	50,220						44,215

Schedule of supplemental balance sheet information

Supplemental balance sheet information related to leases is as follows:



	Classification	At March 28, 2020			At December 31, 2019
Assets
Operating Leases
Right of use operating lease assets	Right of use operating lease assets	$	331,329		323,003
Finance Leases
Property, plant and equipment, gross	Property, plant and equipment	36,797			35,271
Accumulated depreciation	Accumulated depreciation	(6,725		)	(5,664	)
Property, plant and equipment, net	Property, plant and equipment, net	30,072			29,607
Total lease assets		$	361,401		352,610

Liabilities
Operating Leases
Other current	Current operating lease liabilities	$	106,673		101,945
Non-current	Non-current operating lease liabilities	238,830			228,155
Total operating liabilities		345,503			330,100
Finance Leases
Short-term debt	Short-term debt and current portion of long-term debt	5,266			4,835
Long-term debt	Long-term debt, less current portion	25,611			25,214
Total finance liabilities		30,877			30,049
Total lease liabilities		$	376,380		360,149

Schedule of finance lease maturities

Maturities of lease liabilities are as follows:



Year ending December 31,	Finance Leases		Operating Leases	Total
2020 (excluding the three months ended March 28, 2020)	$	4,339	89,915	94,254
2021	5,413		98,707	104,120
2022	5,062		71,624	76,686
2023	4,386		43,215	47,601
2024	3,109		26,043	29,152
Thereafter	11,223		42,024	53,247
Total lease payments	33,532		371,528	405,060
Less imputed interest	2,655		26,025
Present value, Total	$	30,877	345,503

Schedule of operating lease maturities

Maturities of lease liabilities are as follows:



Year ending December 31,	Finance Leases		Operating Leases	Total
2020 (excluding the three months ended March 28, 2020)	$	4,339	89,915	94,254
2021	5,413		98,707	104,120
2022	5,062		71,624	76,686
2023	4,386		43,215	47,601
2024	3,109		26,043	29,152
Thereafter	11,223		42,024	53,247
Total lease payments	33,532		371,528	405,060
Less imputed interest	2,655		26,025
Present value, Total	$	30,877	345,503

Schedule of supplemental cash flow information

Supplemental cash flow information related to leases was as follows:



	Three Months Ended
	March 28, 2020		March 30, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	31,343	31,557
Operating cash flows from finance leases	110		31
Financing cash flows from finance leases	1,288		371
Right-of-use assets obtained in exchange for lease obligations:
Operating Leases	39,911		22,243
Finance Leases	1,531		—
Amortization:
Amortization of Right of use operating lease assets ⁽¹⁾	30,189		28,641

⁽¹⁾ Amortization of Right of use operating lease assets during the period is reflected in Other assets and prepaid expenses on the Condensed Consolidated Statements of Cash Flows.