Commitments and Contingencies (Tables)
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12 Months Ended |
Jan. 02, 2021 |
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| Commitments and Contingencies Disclosure |
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| Schedule of lease commitments - Finance lease |
Lease commitments as of January 2, 2021 were as follows:
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Finance Leases
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Operating Leases
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Total
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2021
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$
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2,424
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$
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3,166
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$
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5,590
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2022
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2,465
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3,519
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5,984
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2023
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2,253
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3,302
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5,555
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2024
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1,706
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3,150
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4,856
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2025
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1,554
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2,649
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4,203
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Thereafter
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7,766
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5,416
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13,182
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Total minimum payments required
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18,168
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21,202
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39,370
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Less portion representing interest
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5,157
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2,629
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7,786
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Present value of lease obligations
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$
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13,011
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$
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18,573
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$
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31,584
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Less current portion of lease obligations
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1,583
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2,527
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4,110
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Long-term portion of lease obligations
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$
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11,428
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$
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16,046
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$
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27,474
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| Schedule of quantitative information regarding the Company’s leases |
Quantitative information regarding the Company’s leases as of January 2, 2021 and December 28, 2019 are as follows (in thousands):
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Fiscal Year ended
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Fiscal Year Ended
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January 2, 2021
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December 28, 2019
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Components of lease cost
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Finance lease cost components
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Amortization of finance lease assets
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$
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1,246
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$
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1,007
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Interest on finance lease liabilities
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735
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692
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Total finance lease costs
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$
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1,981
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$
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1,699
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Operating lease costs
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$
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1,890
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$
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1,409
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Total lease cost
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$
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3,871
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$
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3,108
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Supplemental cash flow information related to operating and finance leases is as follows for the fiscal years ended January 2, 2021 and December 28, 2019:
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Fiscal Year ended
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Fiscal Year Ended
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January 2, 2021
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December 28, 2019
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Cash paid for amounts included in the measurement of lease liabilities:
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Operating cash outflow from operating leases
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$
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1,676
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1,297
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Operating cash outflow from finance leases
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735
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692
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Financing cash outflow from finance leases
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1,005
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670
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Weighted-average remaining lease term-finance leases (in years)
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8.9
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12.3
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Weighted-average remaining lease term-operating leases (in years)
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6.3
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3.7
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Weighted-average discount rate-finance leases
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6.53
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%
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7.69
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%
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Weighted-average discount rate-operating leases
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4.13
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%
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5.59
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%
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| Schedule of lease commitments |
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Finance Leases
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Operating Leases
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Total
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2021
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$
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2,424
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$
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3,166
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$
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5,590
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2022
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2,465
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3,519
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5,984
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2023
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2,253
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3,302
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5,555
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2024
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1,706
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3,150
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4,856
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2025
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1,554
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2,649
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4,203
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Thereafter
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7,766
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5,416
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13,182
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Total minimum payments required
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18,168
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21,202
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39,370
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Less portion representing interest
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5,157
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2,629
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7,786
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Present value of lease obligations
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$
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13,011
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$
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18,573
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$
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31,584
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Less current portion of lease obligations
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1,583
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2,527
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4,110
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Long-term portion of lease obligations
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$
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11,428
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$
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16,046
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$
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27,474
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