| LEASES |
Lease expense, supplemental cash flow information, and other information related to leases were as follows:
|
|
|
|
|
|
|
|
|
|
First Quarter Ended |
|
First Quarter Ended |
(thousands) |
March 29, 2020 |
|
March 31, 2019 |
Operating lease cost |
$ |
8,176 |
|
|
$ |
7,787 |
|
|
|
|
|
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
Operating cash flows for operating leases |
$ |
8,084 |
|
|
$ |
6,724 |
|
|
|
|
|
Right-of-use assets obtained in exchange for lease obligations: |
|
|
|
Operating leases |
$ |
12,428 |
|
|
$ |
577 |
|
Balance sheet information related to leases was as follows:
|
|
|
|
|
|
|
|
(thousands, except lease term and discount rate) |
March 29, 2020 |
December 31, 2019 |
Assets |
|
|
Operating lease right-of-use assets |
$ |
98,291 |
|
$ |
93,546 |
|
Liabilities |
|
|
Operating lease liabilities, current portion |
$ |
28,168 |
|
$ |
27,694 |
|
Long-term operating lease liabilities |
70,831 |
|
66,467 |
|
Total lease liabilities |
$ |
98,999 |
|
$ |
94,161 |
|
|
|
|
|
|
|
Weighted average remaining lease term, operating leases (in years) |
4.2 |
|
4.2 |
|
Weighted average discount rate, operating leases |
3.6 |
% |
3.7 |
% |
Maturities of lease liabilities were as follows at March 29, 2020:
|
|
|
|
|
(thousands) |
|
2020 (excluding the three months ended March 29, 2020) |
$ |
23,746 |
|
2021 |
27,394 |
|
2022 |
21,665 |
|
2023 |
15,987 |
|
2024 |
10,453 |
|
Thereafter |
7,581 |
|
Total lease payments |
106,826 |
|
Less imputed interest |
(7,827 |
) |
Total |
$ |
98,999 |
|
Leases have remaining lease terms of one year to ten years.
|