Quarterly report pursuant to Section 13 or 15(d)

Operating Leases

v3.20.1
Operating Leases
3 Months Ended
Mar. 28, 2020
Leases [Abstract]  
OPERATING LEASES

 

5.  OPERATING LEASES

The Company leases machinery, equipment, vehicles, buildings and office space throughout its locations, which are classified as operating leases. Remaining terms on these leases range from less than one year to ten years. For the three months ended March 28, 2020 and March 30, 2019, operating lease costs totaled $908 in each period.

Supplemental balance sheet information related to operating leases is as follows:

 

 

March 28, 2020

 

 

December 28, 2019

 

Right-of-use assets

 

$

10,841

 

 

$

12,310

 

Lease liabilities:

 

 

 

 

 

 

 

 

Current lease liabilities

 

$

3,092

 

 

$

3,155

 

Non-current lease liabilities

 

 

7,911

 

 

 

9,312

 

Total lease liabilities

 

$

11,003

 

 

$

12,467

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term (in years):

 

 

 

 

 

 

5.3

 

Weighted average discount rate:

 

 

 

 

 

 

4.7

%

Supplemental cash flow information related to leases is as follows:

 

 

Three Months Ended

 

 

 

March 28, 2020

 

 

March 30, 2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

915

 

 

$

913

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

15

 

 

$

901

 

Maturities of lease liabilities are as follows:

2020 Remaining

 

 

 

$

2,656

 

2021

 

 

 

 

3,419

 

2022

 

 

 

 

1,638

 

2023

 

 

 

 

1,289

 

2024

 

 

 

 

903

 

2025

 

 

 

 

631

 

Thereafter

 

 

 

 

2,053

 

Total lease payments

 

 

 

 

12,589

 

Less: Imputed interest

 

 

 

 

(1,586

)

Total lease obligations

 

 

 

 

11,003

 

Less: Current lease liabilities

 

 

 

 

(3,092

)

Non-current lease liabilities

 

 

 

$

7,911