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Balance Sheet Details
 12 Months Ended
Dec. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Details Balance Sheet Details
 
The detail of certain assets in the consolidated balance sheets consists of the following:

Cash and cash equivalents

The Company’s cash equivalents consist of overnight cash sweep accounts that are invested on a daily basis. Cash and cash equivalents at December 29, 2024 and December 31, 2023 were $329.3 million and $72.8 million, respectively, and approximated their fair value.

Accounts receivable, net and Unbilled receivables, net

Receivables including amounts due under long-term contracts are summarized as follows (in millions):
December 29, 2024December 31, 2023
Billed, current$118.5 $129.8 
Unbilled, current206.4 200.5 
Total current accounts receivable324.9 330.3 
Allowance for doubtful accounts(1.1)(1.1)
Total accounts receivable and unbilled receivables, net$323.8 $329.2 

Substantially all accounts receivable at December 29, 2024, are expected to be collected in 2025. The Company does not believe it has significant exposure to credit risk, as accounts receivable and the related unbilled amounts are primarily from contracts associated with the U.S. Government.

U.S. Government contract receivables where the Company is the prime contractor included in accounts receivable, net (in millions):
December 29, 2024December 31, 2023
Billed$11.6 $21.0 
Unbilled61.2 71.0 
Total U.S. Government contract receivables$72.8 $92.0 
 
Inventoried costs (in millions): 
December 29,
2024		December 31,
2023
Raw materials$90.1 $78.0 
Work in process67.7 72.9 
Finished goods4.3 5.3 
Total inventoried costs$162.1 $156.2 


Property, plant and equipment, net (in millions)
December 29, 2024December 31, 2023
Finance lease right of use assets$71.0 $56.1 
Land and buildings41.3 40.8 
Computer equipment and software63.0 51.4 
Machinery and equipment178.2 152.8 
Furniture and office equipment8.6 8.2 
Leasehold improvements30.8 24.0 
Construction in progress81.8 69.7 
Property and equipment474.7 403.0 
Accumulated depreciation and amortization(186.5)(159.4)
Total property and equipment, net$288.2 $243.6 

Depreciation expense was $31.7 million, $26.4 million and $23.1 million for the years ended December 29, 2024, December 31, 2023, and December 25, 2022, respectively.