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LEASES (Tables)

12 Months Ended

Oct. 30, 2021

Leases included in the Consolidated Balance Sheets for the fiscal periods indicated were as follows (in thousands):


	Classification	Balance as of October 30, 2021		Balance as of October 31, 2020
Operating leases:
Operating ROU Assets	Operating right-of-use assets	$	44,285	$	57,026
Operating lease liabilities	Operating lease liabilities and Long-term operating lease liabilities	60,196		80,450
Finance leases:
Buildings, gross	Equipment, building, furniture and fixtures, net	$	76,123	$	70,791
Less: accumulated depreciation	Equipment, building, furniture and fixtures, net	(24,027)		(17,837)
Buildings, net		$	52,096	$	52,954
Finance lease liabilities	Accrued liabilities and other short-term obligations and other long-term obligations	$	66,203	$	64,401

Components of lease expense

For the periods indicated, the components of lease expense included in the Consolidated Statement of Operations were as follows (in thousands):


		Year Ended		Year Ended
	Classification	October 30, 2021		October 31, 2020
Operating lease costs	Operating expense	$	16,602	$	17,544
Finance lease cost:
Amortization of finance ROU asset	Operating expense	4,773		4,465
Interest on finance lease liabilities	Interest expense	4,882		4,777
Total finance lease cost		9,655		9,242
Non-capitalized lease cost	Operating expense	1,152		2,976
Variable lease cost(1)	Operating expense	5,690		5,185

Net lease cost(2)		$	33,099	$	34,947

(1) Variable lease costs include expenses relating to insurance, taxes, maintenance and other costs required by the applicable operating lease. Variable lease costs are determined by whether they are to be included in base rent and if amounts are based on a consumer price index.

(2) Excludes other operating expense of $8.8 million and $11.0 million for the fiscal years ended October 30, 2021 and October 31, 2020, respectively, related to amortization of leasehold improvements.

The weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows (in thousands):


Weighted-average remaining lease term in years:	As of October 30, 2021		As of October 31, 2020
Operating leases	4.06		4.87
Finance leases	10.71		11.71
Weighted-average discount rates:
Operating leases	2.49	%	2.82	%
Finance leases	7.56	%	7.56	%

Future minimum lease payments, operating lease

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of October 30, 2021 were as follows (in thousands):


	Operating Leases		Finance Leases		Total
2022	$	19,882	$	8,338	$	28,220
2023	15,153		8,557		23,710
2024	12,264		8,557		20,821
2025	7,935		8,730		16,665
2026	4,408		8,764		13,172
Thereafter	3,860		53,714		57,574
Total lease payments	63,502		96,660		160,162
Less: Imputed interest	(3,306)		(30,457)		(33,763)
Present value of lease liabilities	60,196		66,203		126,399
Less: Current portion of present value of minimum lease payments	18,632		3,620		22,252
Long-term portion of present value of minimum lease payments	$	41,564	$	62,583	$	104,147

Future minimum lease payments, finance lease

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of October 30, 2021 were as follows (in thousands):


	Operating Leases		Finance Leases		Total
2022	$	19,882	$	8,338	$	28,220
2023	15,153		8,557		23,710
2024	12,264		8,557		20,821
2025	7,935		8,730		16,665
2026	4,408		8,764		13,172
Thereafter	3,860		53,714		57,574
Total lease payments	63,502		96,660		160,162
Less: Imputed interest	(3,306)		(30,457)		(33,763)
Present value of lease liabilities	60,196		66,203		126,399
Less: Current portion of present value of minimum lease payments	18,632		3,620		22,252
Long-term portion of present value of minimum lease payments	$	41,564	$	62,583	$	104,147