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

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 28, 2019


		As of
(in thousands, except lease term and discount rate)	Balance Sheet Classification	March 28, 2019
Assets
Building	Right of use assets	$	647,667
Equipment	Right of use assets		6,263
Land	Right of use assets		245
Software	Right of use assets		4,940
Total operating lease assets		$	659,115
Liabilities
Current
Building	Current portion of lease liabilities	$	68,927
Equipment	Current portion of lease liabilities		2,784
Land	Current portion of lease liabilities		93
Software	Current portion of lease liabilities		1,811
Total current operating lease liabilities		$	73,615
Noncurrent
Building	Lease liabilities	$	675,769
Equipment	Lease liabilities		4,663
Land	Lease liabilities		158
Software	Lease liabilities		3,082
Total noncurrent operating lease liabilities		$	683,672
Total operating lease liabilities		$	757,287

Weighted-average remaining lease term			9 years
Weighted-average discount rate			5.4%

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


(in thousands)	Amount
Thirty-nine weeks ended December 26, 2019	$	82,939
2020		112,086
2021		105,317
2022		98,163
2023		93,513
Thereafter		503,402
Total minimum lease payments (2)	$	995,420
Less: amount of lease payments representing interest		238,133
Present value of future minimum lease payments		757,287
Less: current obligations under leases		73,615
Long-term lease obligations	$	683,672

(2) Future lease payments exclude $311 million of legally binding minimum lease payments for operating leases signed but not yet commenced.

For the thirteen weeks ended March 28, 2019, cash paid for operating leases was $24.6 million.