Note 14 - Lease Commitments

3 Months Ended

Mar. 30, 2025

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

14. LEASE COMMITMENTS

The Company leases retail stores, manufacturing, distribution, engineering, and research and development facilities, office space, equipment, and automobiles under operating lease agreements. Leases have remaining lease terms of one to 10 years, inclusive of renewal options that the Company is reasonably certain to exercise.

The following table summarizes operating lease assets and obligations, and provides information associated with the measurement of operating lease obligations.

	As of
	March 30, 2025			December 31, 2024
Assets:
Operating right of use assets	$	34,841		$	35,974
Liabilities:
Current operating lease liabilities - Accrued liabilities	$	5,272		$	5,324
Long-term operating lease liabilities - Other noncurrent liabilities		30,754			31,876
Total lease liabilities	$	36,026		$	37,200
Lease term and discount rate
Weighted average remaining lease term (in years)		6.4			6.6
Weighted average discount rate		5.90	%		5.91	%

The following summarizes the components of operating lease expense and provides supplemental cash flow information for operating leases:

	For the thirteen weeks ended
	March 30, 2025		March 31, 2024
Components of lease expense:
Operating lease expense	$	1,988	$	2,145
Short-term lease expense		382		428
Variable lease expense		102		80
Total lease expense	$	2,472	$	2,653
Supplemental cash flow information related to leases:
Cash paid for amounts included in measurement of operating lease liabilities	$	1,884	$	1,849
Right-of-use assets obtained in exchange for new operating lease liabilities		10		2,014
Decapitalization of right-of-use assets upon lease termination or modification		—		1,360

The following table summarizes the maturities of the Company's operating lease liabilities as of March 30, 2025:

2025 (excluding the thirteen weeks ended March 30, 2025)	$	5,585
2026		7,079
2027		7,100
2028		6,669
2029		5,736
Thereafter		11,671
Total lease payments		43,840
Less imputed interest		(7,814	)
Present value of lease liabilities	$	36,026