Leases (Tables)

9 Months Ended

Sep. 26, 2020

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

The components of lease costs for the three months ended September 26, 2020 and September 28, 2019 are as follows:


	Three Months Ended September 26, 2020					Three Months Ended September 28, 2019
	Cost of Goods Sold		Selling, General and Administrative	Total		Cost of Goods Sold	Selling, General and Administrative	Total
Operating lease costs
Fixed	$	5,797	25,905	31,702		8,068	25,316	33,384
Short-term	3,036		4,004	7,040		1,092	2,640	3,732
Variable	1,926		6,984	8,910		1,475	7,053	8,528
Sub-leases	(95)		(147)	(242)		(114)	(113)	(227)
	$	10,664	36,746	47,410		10,521	34,896	45,417


	Three Months Ended September 26, 2020					Three Months Ended September 28, 2019
	Depreciation and Amortization		Interest	Total		Depreciation and Amortization	Interest	Total
Finance lease costs
Amortization of leased assets	$	1,672	—	1,672		404	—	404
Interest on lease liabilities	—		189	189		—	102	102
	$	1,672	189	1,861		404	102	506
Net lease costs				$	49,271			45,923

The components of lease costs for the nine months ended September 26, 2020 and September 28, 2019 are as follows:


	Nine Months Ended September 26, 2020					Nine Months Ended September 28, 2019
	Cost of Goods Sold		Selling, General and Administrative	Total		Cost of Goods Sold	Selling, General and Administrative	Total
Operating lease costs
Fixed	$	19,086	76,548	95,634		23,925	72,578	96,503
Short-term	8,174		11,689	19,863		4,083	9,126	13,209
Variable	6,316		22,404	28,720		5,846	21,601	27,447
Sub-leases	(313)		(415)	(728)		(239)	(397)	(636)
	$	33,263	110,226	143,489		33,615	102,908	136,523


	Nine Months Ended September 26, 2020					Nine Months Ended September 28, 2019
	Depreciation and Amortization		Interest	Total		Depreciation and Amortization	Interest	Total
Finance lease costs
Amortization of leased assets	$	4,402	—	4,402		1,228	—	1,228
Interest on lease liabilities	—		492	492		—	191	191
	$	4,402	492	4,894		1,228	191	1,419
Net lease costs				$	148,383			137,942

Lease term and discount rate are as follows:


	At September 26, 2020		At December 31, 2019
Weighted Average Remaining Lease Term
Operating Leases	4.3 years		4.3 years
Finance Leases	7.3 years		8.4 years

Weighted Average Discount Rate
Operating Leases	3.1	%	3.3	%
Finance Leases	1.5	%	1.4	%

Schedule of supplemental balance sheet information

Supplemental balance sheet information related to leases is as follows:


	Classification	At September 26, 2020		At December 31, 2019
Assets
Operating Leases
Right of use operating lease assets	Right of use operating lease assets	$	303,050	323,003
Finance Leases
Property, plant and equipment, gross	Property, plant and equipment	48,347		35,271
Accumulated depreciation	Accumulated depreciation	(10,203)		(5,664)
Property, plant and equipment, net	Property, plant and equipment, net	38,144		29,607
Total lease assets		$	341,194	352,610

Liabilities
Operating Leases
Other current	Current operating lease liabilities	$	97,778	101,945
Non-current	Non-current operating lease liabilities	214,654		228,155
Total operating liabilities		312,432		330,100
Finance Leases
Short-term debt	Short-term debt and current portion of long-term debt	7,033		4,835
Long-term debt	Long-term debt, less current portion	31,747		25,214
Total finance liabilities		38,780		30,049
Total lease liabilities		$	351,212	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 nine months ended September 26, 2020)	$	1,974	30,826	32,800
2021	7,414		106,731	114,145
2022	6,974		79,632	86,606
2023	6,273		49,986	56,259
2024	4,738		29,767	34,505
Thereafter	14,369		39,114	53,483
Total lease payments	41,742		336,056	377,798
Less imputed interest	2,962		23,624
Present value, Total	$	38,780	312,432

Schedule of operating lease maturities

Maturities of lease liabilities are as follows:


Year ending December 31,	Finance Leases		Operating Leases	Total
2020 (excluding the nine months ended September 26, 2020)	$	1,974	30,826	32,800
2021	7,414		106,731	114,145
2022	6,974		79,632	86,606
2023	6,273		49,986	56,259
2024	4,738		29,767	34,505
Thereafter	14,369		39,114	53,483
Total lease payments	41,742		336,056	377,798
Less imputed interest	2,962		23,624
Present value, Total	$	38,780	312,432

Supplemental cash flow information

Supplemental cash flow information related to leases was as follows:


	Nine Months Ended
	September 26, 2020		September 28, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	92,785	96,752
Operating cash flows from finance leases	492		123
Financing cash flows from finance leases	4,469		1,224
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	67,000		113,253
Finance leases	10,340		7,636
Amortization:
Amortization of right of use operating lease assets(1)	85,266		85,061

(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.

Supplemental cash flow information were as follows:


	Nine Months Ended
	September 26, 2020		September 28, 2019
Net cash paid (received) during the periods for:
Interest	$	36,223	42,911
Income taxes	$	40,602	100,544

Supplemental schedule of non-cash investing and financing activities:
Additions to property, plant and equipment	$	44,245	21,021

Fair value of net assets acquired in acquisition	$	3,147	82,394
Liabilities assumed in acquisition	(3,147)		(5,547)
	$	—	76,847