Quarterly report pursuant to Section 13 or 15(d)

LEASES

v3.20.4
LEASES
 9 Months Ended
Dec. 26, 2020
Leases [Abstract]  
LEASES LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairment and gain recognized from sale-leaseback transactions. Components of lease cost were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2020 2019 2020 2019
Operating lease cost $ 110,970  $ 103,339  $ 326,501  $ 309,950 
Other lease costs 19,336  36,165  53,906  85,271 
Total lease cost $ 130,306  $ 139,504  $ 380,407  $ 395,221 

During the nine months ended December 2020 and 2019, the Company paid $289.4 million and $314.7 million of cash for operating leases, respectively. The decrease was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19. During the nine months ended December 2020 and 2019, the Company obtained $506.7 million and $347.9 million of right-of-use assets in exchange for lease liabilities, respectively.
LEASES LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairment and gain recognized from sale-leaseback transactions. Components of lease cost were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2020 2019 2020 2019
Operating lease cost $ 110,970  $ 103,339  $ 326,501  $ 309,950 
Other lease costs 19,336  36,165  53,906  85,271 
Total lease cost $ 130,306  $ 139,504  $ 380,407  $ 395,221 

During the nine months ended December 2020 and 2019, the Company paid $289.4 million and $314.7 million of cash for operating leases, respectively. The decrease was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19. During the nine months ended December 2020 and 2019, the Company obtained $506.7 million and $347.9 million of right-of-use assets in exchange for lease liabilities, respectively.