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Note 12 - Leases - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 28, 2024
Operating lease assets [1] $ 12,768 $ 13,908 [2]
Finance lease assets [1] 117 9,676
Total lease assets 12,885 23,584
Operating [1] 4,871 5,296
Finance 11 8,418
Operating 9,179 9,890
Finance 0 3
Total lease liabilities $ 14,061 $ 23,607
Operating leases (Year) 5 years 2 months 12 days 5 years 2 months 12 days
Finance leases (Year) 10 months 24 days  
Operating leases 6.50% 6.40%
Finance leases 4.00% 2.80%
[1] Finance lease assets are recorded net of accumulated amortization of $0.4 million as of March 29, 2025, and December 28, 2024. 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.
[2] Derived from December 28, 2024, audited financial statements