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Note 12 - Leases - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 28, 2024
Dec. 30, 2023
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Operating lease assets Operating lease assets
Operating lease assets $ 13,908 $ 16,778
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property plant and equipment, net Property plant and equipment, net
Finance lease assets [1] $ 9,676 $ 247
Total lease assets $ 23,584 $ 17,025
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other accrued liabilities Other accrued liabilities
Operating $ 5,296 $ 5,122
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other accrued liabilities Other accrued liabilities
Finance $ 8,418 $ 11
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term lease liabilities Long-term lease liabilities
Operating $ 9,890 $ 13,160
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term lease liabilities Long-term lease liabilities
Finance $ 3 $ 15
Total lease liabilities $ 23,607 $ 18,308
Operating leases (Year) 5 years 2 months 12 days 5 years 6 months
Finance leases (Year) 0 years 2 years 1 month 6 days
Operating leases 6.40% 6.40%
Finance leases 2.80% 4.00%
[1] Finance lease assets are recorded net of accumulated amortization of $0.4 million and $0.3 million in fiscal 2024 and 2023, respectively. During the first quarter of fiscal 2024, we executed an agreement to purchase our leased facility in Malaysia for MYR 41.8 million, with the expectation that the title would transfer during fiscal 2024. We treated this transaction as a lease modification, and changed the classification to a finance lease, reducing our operating lease assets and liabilities by $0.4 million and increasing our finance lease assets and current lease liabilities by $8.8 million and $7.9 million, respectively. Due to a seller-imposed delay during the third quarter of fiscal 2024, the purchase date was delayed until fiscal 2025, triggering a modification of the finance lease resulting in the asset increasing to $9.5 million. At December 28, 2024, the finance lease liability decreased to $8.4 million, as a result of fluctuations in foreign currency exchange rates. On December 30, 2024, we completed the purchase of our leased facility in Melaka Malaysia.