LEASES |
Lease expense, supplemental cash flow information, and other information related to leases were as follows:
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Second Quarter Ended |
(thousands) |
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June 27, 2021 |
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June 28, 2020 |
Operating lease cost |
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$ |
10,353
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$ |
8,399 |
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Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash flows for operating leases |
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$ |
10,117
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$ |
8,279 |
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Right-of-use assets obtained in exchange for lease obligations: |
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Operating leases |
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$ |
24,806
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$ |
5,474 |
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Six Months Ended |
(thousands) |
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June 27, 2021 |
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June 28, 2020 |
Operating lease cost |
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$ |
19,938
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$ |
16,568 |
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Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash flows for operating leases |
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$ |
19,504
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$ |
16,362 |
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Right-of-use assets obtained in exchange for lease obligations: |
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Operating leases |
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$ |
39,991
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$ |
17,902 |
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Balance sheet information related to leases was as follows:
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(thousands, except lease term and discount rate) |
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June 27, 2021 |
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December 31, 2020 |
Assets |
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Operating lease right-of-use assets |
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$ |
139,576
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$ |
117,816 |
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Liabilities |
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Operating lease liabilities, current portion |
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$ |
35,951
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$ |
30,901 |
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Long-term operating lease liabilities |
|
105,318
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|
88,175 |
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Total lease liabilities |
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$ |
141,269
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$ |
119,076 |
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Weighted average remaining lease term, operating leases (in years) |
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5.1 |
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5.3 |
Weighted average discount rate, operating leases |
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3.9
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% |
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4.1 |
% |
Maturities of lease liabilities were as follows at June 27, 2021:
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(thousands) |
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2021 (excluding the six months ended June 27, 2021) |
$ |
20,559
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2022 |
38,969
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2023 |
33,089
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2024 |
25,151
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2025 |
16,420
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Thereafter |
23,153
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Total lease payments |
157,341
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Less imputed interest |
(16,072) |
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Total |
$ |
141,269
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As of June 27, 2021, outstanding leases have remaining lease terms ranging from one year to 18 years.
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