| LEASES |
Lease expense, supplemental cash flow information, and other information related to leases were as follows:
|
|
|
|
|
|
|
|
|
|
Second Quarter Ended |
(thousands) |
June 28, 2020 |
|
June 30, 2019 |
Operating lease cost |
$ |
8,399 |
|
|
$ |
7,901 |
|
|
|
|
|
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
Operating cash flows for operating leases |
$ |
8,279 |
|
|
$ |
6,875 |
|
|
|
|
|
Right-of-use assets obtained in exchange for lease obligations: |
|
|
|
Operating leases |
$ |
5,474 |
|
|
$ |
8,668 |
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
(thousands) |
June 28, 2020 |
|
June 30, 2019 |
Operating lease cost |
$ |
16,568 |
|
|
$ |
15,688 |
|
|
|
|
|
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
Operating cash flows for operating leases |
$ |
16,362 |
|
|
$ |
13,599 |
|
|
|
|
|
Right-of-use assets obtained in exchange for lease obligations: |
|
|
|
Operating leases |
$ |
17,902 |
|
|
$ |
9,245 |
|
Balance sheet information related to leases was as follows:
|
|
|
|
|
|
|
|
|
(thousands, except lease term and discount rate) |
June 28, 2020 |
|
December 31, 2019 |
Assets |
|
|
|
Operating lease right-of-use assets |
$ |
96,065 |
|
|
$ |
93,546 |
|
Liabilities |
|
|
|
Operating lease liabilities, current portion |
$ |
28,567 |
|
|
$ |
27,694 |
|
Long-term operating lease liabilities |
68,318 |
|
|
66,467 |
|
Total lease liabilities |
$ |
96,885 |
|
|
$ |
94,161 |
|
|
|
|
|
|
|
|
Weighted average remaining lease term, operating leases (in years) |
4.1 |
|
|
4.2 |
|
Weighted average discount rate, operating leases |
3.7 |
% |
|
3.7 |
% |
Maturities of lease liabilities were as follows at June 28, 2020:
|
|
|
|
|
(thousands) |
|
2020 (excluding the six months ended June 28, 2020) |
$ |
16,235 |
|
2021 |
28,873 |
|
2022 |
22,920 |
|
2023 |
17,072 |
|
2024 |
11,341 |
|
Thereafter |
7,955 |
|
Total lease payments |
104,396 |
|
Less imputed interest |
(7,511 |
) |
Total |
$ |
96,885 |
|
Leases have remaining lease terms of one year to ten years.
|