Floor & Decor Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 26, 2019

Schedule of supplemental balance sheet information related to operating leases


		As of
in thousands, except lease term and discount rate	Classification	September 26, 2019
Assets
Building	Right-of-use assets	$	732,345
Equipment	Right-of-use assets		6,947
Land	Right-of-use assets		194
Software	Right-of-use assets		4,031
Total operating lease assets		$	743,517
Liabilities
Current
Building	Current portion of lease liabilities	$	47,747
Equipment	Current portion of lease liabilities		3,303
Land	Current portion of lease liabilities		85
Software	Current portion of lease liabilities		1,982
Total current operating lease liabilities			53,117
Noncurrent
Building	Lease liabilities		769,510
Equipment	Lease liabilities		4,066
Land	Lease liabilities		114
Software	Lease liabilities		2,148
Total noncurrent operating lease liabilities			775,838
Total operating lease liabilities		$	828,955

Weighted-average remaining lease term			10 years
Weighted-average discount rate			5.2%

Schedule of components of lease expense


		Thirteen Weeks Ended		Thirty-nine Weeks Ended
in thousands	Classification	September 26, 2019		September 26, 2019
Operating lease cost (1)	Selling and store operating	$	29,978	$	84,907
Operating lease right-of-use asset impairment	General and administrative		4,136		4,136
Sublease income	Selling and store operating		(588)		(1,817)
Total lease cost		$	33,526	$	87,226

(1) Includes variable lease costs, which are immaterial.

Schedule of Future minimum lease payments under non cancelable operating leases


in thousands	Amount
Thirteen weeks ending December 26, 2019	$	19,609
2020		108,355
2021		118,784
2022		111,501
2023		108,266
Thereafter		623,390
Total minimum lease payments (2)	$	1,089,905
Less: amount of lease payments representing interest		260,950
Present value of future minimum lease payments		828,955
Less: current obligations under leases		53,117
Long-term lease obligations	$	775,838

(2) Future lease payments exclude approximately $209.4 million of legally binding minimum lease payments for operating leases signed but not yet commenced.