| LEASES |
Lease expense, supplemental cash flow information, and other information related to leases were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter Ended |
| (thousands) |
|
April 2, 2023 |
|
March 27, 2022 |
| Operating lease cost |
|
$ |
13,464
|
|
|
$ |
12,164 |
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
| Operating cash flows for operating leases |
|
$ |
13,378
|
|
|
$ |
11,927 |
|
|
|
|
|
|
| Right-of-use assets obtained in exchange for lease obligations: |
|
|
|
|
| Operating leases |
|
$ |
15,034
|
|
|
$ |
23,725 |
|
Balance sheet information related to leases was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (thousands, except lease term and discount rate) |
|
April 2, 2023 |
|
December 31, 2022 |
| Assets |
|
|
|
|
| Operating lease right-of-use assets |
|
$ |
166,222
|
|
|
$ |
163,674 |
|
| Liabilities |
|
|
|
|
| Operating lease liabilities, current portion |
|
$ |
44,977
|
|
|
$ |
44,235 |
|
| Long-term operating lease liabilities |
|
124,373
|
|
|
122,471 |
|
| Total lease liabilities |
|
$ |
169,350
|
|
|
$ |
166,706 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average remaining lease term, operating leases (in years) |
|
5.2 |
|
5.1 |
| Weighted average discount rate, operating leases |
|
4.8
|
% |
|
4.4 |
% |
Maturities of lease liabilities were as follows at April 2, 2023:
|
|
|
|
|
|
| (thousands) |
|
| 2023 (excluding the three months ended April 2, 2023) |
$ |
39,468
|
|
| 2024 |
46,218
|
|
| 2025 |
36,333
|
|
| 2026 |
25,824
|
|
| 2027 |
14,806
|
|
| Thereafter |
30,476
|
|
| Total lease payments |
193,125
|
|
| Less imputed interest |
(23,775) |
|
| Total |
$ |
169,350
|
|
|