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)

6 Months Ended

Jun. 27, 2019

Schedule of supplemental balance sheet information related to operating leases


		As of
(in thousands, except lease term and discount rate)	Balance Sheet Classification	June 27, 2019
Assets
Building	Right of use assets	$	707,855
Equipment	Right of use assets		7,448
Land	Right of use assets		219
Software	Right of use assets		4,487
Total operating lease assets		$	720,009
Liabilities
Current
Building	Current portion of lease liabilities	$	38,625
Equipment	Current portion of lease liabilities		3,353
Land	Current portion of lease liabilities		89
Software	Current portion of lease liabilities		2,394
Total current operating lease liabilities			44,461
Noncurrent
Building	Lease liabilities		740,739
Equipment	Lease liabilities		4,601
Land	Lease liabilities		136
Software	Lease liabilities		2,119
Total noncurrent operating lease liabilities			747,595
Total operating lease liabilities		$	792,056

Weighted-average remaining lease term			9 years
Weighted-average discount rate			5.5%

Schedule of components of lease expense


		Thirteen Weeks Ended		Twenty-six Weeks Ended
(in thousands)	Classification	June 27, 2019		June 27, 2019
Operating lease cost (1)	Selling and store operating	$	28,914	$	54,929
Sublease income	Selling and store operating		(606)		(1,229)
Total lease cost		$	28,308	$	53,700

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

Schedule of Future minimum lease payments under non cancelable operating leases


(in thousands)	Amount
Twenty-six weeks ending December 26, 2019	$	50,319
2020		97,378
2021		112,876
2022		107,688
2023		102,990
Thereafter		594,379
Total minimum lease payments (2)	$	1,065,630
Less: amount of lease payments representing interest		273,574
Present value of future minimum lease payments		792,056
Less: current obligations under leases		44,461
Long-term lease obligations	$	747,595

(2) Future lease payments exclude approximately $200 million of legally binding minimum lease payments for operating leases signed but not yet commenced.