Post-effective amendment to a registration statement that is not immediately effective upon filing

Leases (Tables)

v3.22.1
Leases (Tables)
 3 Months Ended
Apr. 02, 2022
Leases [Abstract]  
Summmary of Balance Sheet Information
The components of ROU assets and lease liabilities were as follows: 
 

(in thousands)
  
Balance Sheet Classification
  
April 2, 2022
 
Assets:
              
Operating lease assets
   
Right-of-use
assets, net 		   $ 40,902  
Finance lease assets
   
Right-of-use
assets, net 		   $ 616  
 
 
Total leased assets
         $ 41,518  
 
 
Liabilities:
              
Current:
              
Operating
    Other accrued expenses    $ 4,762  
Financing
    Current maturities of long-term debt    $ 147  
Noncurrent:
              
Operating
    Other long-term liabilities    $ 38,241  
Financing
    Long-term debt    $ 470  
 
 
Total lease liabilities
         $ 43,620  
 
 
Summary of Lease Cost
The components of lease expense were as follows:
 

(in thousands)
  
Three Months Ended
April 2, 2022
 
    
Operating lease cost
    $ 1,986      
Short-term lease cost
    $ 60      
Financial lease cost:
             
Amortization of
right-of-use
assets
    $ 17      
Interest on lease liabilities
    $ 3      
 
 
Total lease cost
    $ 2,066      
 
 
Other information related to leases was as follows:
 

 
  
Three Months Ended
April 2, 2022
 
Weighted Average Remaining Lease Term
         
Operating Leases
      10.0 years  
Finance Leases
      3.8 years  
   
Weighted Average Discount Rate
         
Operating Leases
      6.5%  
Finance Leases
      5.0%  
Schedule of Operating Lease Maturity
As of April 2, 2022, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:
 
(in thousands)
  
 
 
2022
    $ 5,577  
2023
    $ 6,957  
2024
    $ 6,068  
2025
    $ 5,680  
2026
    $ 5,265  
Later years
    $ 30,961  
 
 
 
 
 
Total future lease payments
    $ 60,508  
 
 
 
 
 
Less imputed interest
    $ (17,505 ) 
 
 
 
 
 
Present value of future lease payments
    $ 43,003  
 
 
 
 
 
Schedule of Finance Lease Maturity
As of April 2, 2022, minimum repayments of long-term debt under financing leases were as follows:
 
(in thousands)
  
 
 
2022
    $ 130  
2023
    $ 174  
2024
    $ 174  
2025
    $ 174  
2026
    $ 25  
Later years
    $ —    
 
 
 
 
 
Total future lease payments
    $ 677  
 
 
 
 
 
Less imputed interest
    $ (60 ) 
 
 
 
 
 
Present value of future lease payments
    $ 617