Debt and Finance Leases (Tables)
|
12 Months Ended |
Jan. 03, 2021 |
|---|
| Debt Disclosure [Abstract] |
|
| Summary of Revolving Credit and Long Term Debt Facilities |
|
|
|
January 3,
2021
|
|
|
December 29,
2019
|
|
|
Revolving credit facility
|
|
$
|
34,694
|
|
|
$
|
34,701
|
|
|
Term loans:
|
|
|
|
|
|
|
|
|
|
Term loan A facility
|
|
$
|
37,188
|
|
|
$
|
38,750
|
|
|
Less deferred debt issue costs
|
|
|
(2,016
|
)
|
|
|
(2,286
|
)
|
|
Less unamortized discount on debt
|
|
|
(1,742
|
)
|
|
|
(1,464
|
)
|
|
Total term loans
|
|
$
|
33,430
|
|
|
$
|
35,000
|
|
|
Less current portion
|
|
|
(2,500
|
)
|
|
|
(1,250
|
)
|
|
Long term portion
|
|
$
|
30,930
|
|
|
$
|
33,750
|
|
|
| Schedule of Maturities of Long-term Debt |
The table below outlines the Term A Loan Facility scheduled amortization payments and the balance which would be due at maturation on November 8, 2023:
|
2021
|
|
$
|
2,500
|
|
|
2022
|
|
|
2,500
|
|
|
2023
|
|
|
32,188
|
|
|
Total
|
|
|
37,188
|
|
|
| Lessee, Operating and Finance Leases, Assets and Liabilities |
|
Leases
|
|
Classification
|
|
January 3,
2021($)
|
|
|
Assets
|
|
|
|
|
|
|
|
Operating lease assets
|
|
Operating lease right-of-use-asset
|
|
|
7,791
|
|
|
Finance lease assets (a)
|
|
Property, plant and equipment
|
|
|
12,084
|
|
|
Total leased assets
|
|
|
|
|
19,875
|
|
|
Liabilities
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
|
Operating leases
|
|
Current portion of operating lease obligations
|
|
|
2,590
|
|
|
Finance leases
|
|
Current portion of finance lease obligations
|
|
|
2,245
|
|
|
Noncurrent
|
|
|
|
|
|
|
|
Operating leases
|
|
Operating lease obligations
|
|
|
5,590
|
|
|
Finance leases
|
|
Finance lease obligations
|
|
|
9,492
|
|
|
Total lease liabilities
|
|
|
|
|
19,917
|
|
|
|
(a)
|
Refer to note 4 for details of the corresponding balances and accumulated amortization included within property, plant and equipment
|
|
| Lease, Cost |
|
Lease Cost
|
|
Classification
|
|
January 3,
2021($)
|
|
|
Operating lease costs
|
|
|
|
|
|
|
|
Fixed lease costs
|
|
Cost of sales
|
|
|
2,129
|
|
|
Finance lease costs
|
|
|
|
|
|
|
|
Depreciation of leased assets
|
|
Cost of sales
|
|
|
1,448
|
|
|
Interest on lease liabilities
|
|
Interest expense
|
|
|
815
|
|
|
Sublease income
|
|
Selling, general and administrative expenses
|
|
|
244
|
|
|
| Maturity of Operating and Finance Lease Liability |
|
Maturity of lease liabilities as at January 3, 2021
|
|
Operating
leases
|
|
|
Finance
leases
|
|
|
Total
|
|
|
2021
|
|
|
3,084
|
|
|
|
3,191
|
|
|
|
6,275
|
|
|
2022
|
|
|
2,288
|
|
|
|
2,853
|
|
|
|
5,141
|
|
|
2023
|
|
|
1,495
|
|
|
|
1,276
|
|
|
|
2,771
|
|
|
2024
|
|
|
1,536
|
|
|
|
1,259
|
|
|
|
2,795
|
|
|
2025
|
|
|
962
|
|
|
|
1,318
|
|
|
|
2,280
|
|
|
Thereafter
|
|
|
3
|
|
|
|
5,422
|
|
|
|
5,425
|
|
|
Total lease payments
|
|
|
9,368
|
|
|
|
15,319
|
|
|
|
24,687
|
|
|
Less: Interest
|
|
|
(1,188
|
)
|
|
|
(3,582
|
)
|
|
|
(4,770
|
)
|
|
Present value of lease liabilities
|
|
|
8,180
|
|
|
|
11,737
|
|
|
|
19,917
|
|
|
| Lessee, Operating and Finance Leases, Weighted Average Remaining Term and Discount Rate |
|
Lease term and discount rate
|
|
January 3,
2021
|
|
|
Weighted average remaining term (years)
|
|
|
|
|
|
Operating leases
|
|
|
3.9
|
|
|
Finance leases
|
|
|
6.9
|
|
|
Weighted average discount rate
|
|
|
|
|
|
Operating leases
|
|
|
7.2
|
%
|
|
Finance leases
|
|
|
6.6
|
%
|
|
| Other Information |
|
Other information
|
|
January 3,
2021
|
|
|
Cash paid for amounts included in the measurement of lease liabilities
|
|
|
|
|
|
Operating cash flows from operating leases
|
|
|
1,750
|
|
|
Operating cash flows from finance leases
|
|
N/A
|
|
|
Financing cash flows from finance leases
|
|
|
1,542
|
|
|
Leased assets obtained in exchange for new operating lease liabilities
|
|
|
—
|
|
|
Leased assets obtained in exchange for new finance lease liabilities
|
|
|
3,215
|
|
|