USANA Health Sciences, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Operating Leases

Operating Leases

12 Months Ended

Dec. 28, 2019

NOTE G—OPERATING LEASES

The following table summarizes the classification of lease assets and lease liabilities in the Company’s consolidated balance sheet:



		As of
Leases	Classification	December 28, ‎2019
Assets
ROU operating lease assets, net	Other assets	$	31,263
Total ROU assets		$	31,263

Liabilities
Current:
Operating lease liabilities	Other current liabilities	$	8,323
Non-current:
Operating lease liabilities	Other long-term liabilities		17,274
Total lease liabilities		$	25,597

The following table presents supplemental lease information:



	Year Ended

	2019
Lease cost
Operating lease cost	$	8,988
Total lease cost	$	8,988



	Year Ended

	2019
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	8,656
ROU assets obtained in exchange for new operating lease liabilities	$	13,575
Weighted-average remaining lease term—operating leases		3.85 yrs.
Weighted-average discount rate—operating leases		3.75%

The following table presents the maturity of the Company’s lease liabilities as of December 28, 2019.



Year ending
2020	$	9,047
2021		7,013
2022		3,973
2023		3,371
2024		2,667
Thereafter		1,486
		27,557
Less: imputed interest		(1,960)
Present value	$	25,597

NOTE G—OPERATING LEASES – CONTINUED

The future minimum commitments under operating leases at December 29, 2018 having a non-cancelable term in excess of one year as determined prior to the adoption of ASC 842 are as follows:



Year ending
2019	$	9,155
2020		6,146
2021		3,825
2022		1,962
2023		1,464
Thereafter		2,514
	$	25,066

These leases generally provide that property taxes, insurance, and maintenance expenses are the responsibility of the Company. Such expenses are not included in the operating lease amounts outlined in the table above or in the rent expense amounts that follow. The total rent expense was approximately $9,586, $11,240, and $10,931 for the years ended 2019, 2018, and 2017, respectively.