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Leases (Tables)
12 Months Ended
Dec. 26, 2020
Leases [Abstract]  
ROU assets and lease liabilities As of December 26, 2020, total ROU assets and lease liabilities were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Classification

 

December 26,

2020

 

 

December 28,

2019

 

Right-of-use assets

 

 

 

(in thousands)

 

Operating lease assets

 

Operating right-of-use assets

 

$

58,483

 

 

$

53,758

 

Finance lease assets

 

Property, plant and equipment, net

 

 

4,035

 

 

 

2,531

 

Lease Liabilities

 

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Current operating lease liabilities

 

 

8,232

 

 

 

5,168

 

Finance lease liabilities

 

Accrued expenses and other current liabilities

 

 

1,453

 

 

 

546

 

Non-current

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Non-current operating lease liabilities

 

 

59,171

 

 

 

53,940

 

Finance lease liabilities

 

Other liabilities

 

 

2,631

 

 

 

2,042

 

 

Schedule of gross value and accumulated depreciation of right of use assets

The gross value and accumulated depreciation of ROU assets related to finance leases as of December 26, 2020 were as follows:

 

 

 

Finance

Leases

 

 

 

December 26,

2020

 

 

December 28,

2019

 

 

 

(in thousands)

 

Gross value

 

$

5,526

 

 

$

2,837

 

Accumulated amortization

 

 

(1,491

)

 

 

(306

)

Carrying value

 

$

4,035

 

 

$

2,531

 

 

 

 

 

 

 

 

 

 

Components of lease cost

Components of lease cost for the fiscal year-ended are as follows:

 

 

 

Lease Cost

 

 

 

December 26,

2020

 

 

December 28,

2019

 

 

 

(in thousands)

 

Operating lease cost

 

$

9,764

 

 

$

5,625

 

Variable lease costs not included in liability

 

 

1,643

 

 

 

1,064

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization of right-of-use asset

 

$

1,185

 

 

$

306

 

Interest on lease liabilities

 

 

143

 

 

 

56

 

Total finance lease cost

 

$

1,328

 

 

$

362

 

Maturities of lease liabilities

Maturities of lease liabilities as of December 26, 2020 are as follows:

 

 

 

Operating

 

 

Finance

 

 

Weighted-Average Remaining

Term in Years

 

 

 

Leases

 

 

Leases

 

 

Operating

Leases

 

 

Finance

Leases

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

2021

 

$

10,454

 

 

$

1,572

 

 

 

 

 

 

 

 

 

2022

 

 

9,908

 

 

 

1,572

 

 

 

 

 

 

 

 

 

2023

 

 

9,737

 

 

 

863

 

 

 

 

 

 

 

 

 

2024

 

 

9,714

 

 

 

265

 

 

 

 

 

 

 

 

 

2025

 

 

6,389

 

 

 

8

 

 

 

 

 

 

 

 

 

Thereafter

 

 

32,891

 

 

 

15

 

 

 

 

 

 

 

 

 

Total lease payments

 

 

79,093

 

 

 

4,295

 

 

 

 

 

 

 

 

 

Less imputed interest (based on 3.5% weighted-

   average discount rate)

 

 

(11,690

)

 

 

(211

)

 

 

 

 

 

 

 

 

Present value of lease liability

 

$

67,403

 

 

$

4,084

 

 

 

8.8

 

 

 

2.9