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Leases
9 Months Ended
Jan. 01, 2022
Leases [Abstract]  
Finance Leases Leases
We lease certain production and retail locations, office space and equipment. During the period ended January 1, 2022, we executed various lease renewals and acquired certain assets under finance leases.
The following table provides information about the financial statement classification of our lease balances reported on the Consolidated Balance Sheets as of January 1, 2022 and April 3, 2021 (in thousands):
ClassificationJanuary 1,
2022
April 3,
2021
ROU assets
Operating lease assets
Operating lease right-of-use assets
$15,974 $16,252 
Finance lease assets
Property, plant and equipment, net (1)
7,114 986 
Total lease assets$23,088 $17,238 
Lease Liabilities
Current:
   Operating lease liabilitiesAccrued expenses and other current liabilities$4,773 $4,184 
   Finance lease liabilitiesCurrent portion of secured financings and other347 71 
Non-current:
   Operating lease liabilitiesOperating lease liabilities12,482 13,361 
   Finance lease liabilitiesSecured financings and other5,986 233 
Total lease liabilities$23,588 $17,849 
(1) Recorded net of accumulated amortization of $44,000 and $143,000 as of January 1, 2022 and April 3, 2021, respectively.
The present value of minimum payments for future fiscal years under non-cancelable leases as of January 1, 2022 was as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remainder of 2022$1,225 $89 $1,314 
20234,748 356 5,104 
20244,210 356 4,566 
20253,188 356 3,544 
20263,133 356 3,489 
20271,086 356 1,442 
Thereafter1,439 10,941 12,380 
19,029 12,810 31,839 
Less amount representing interest(1,774)(6,477)(8,251)
17,255 6,333 23,588 
Less current portion(4,773)(347)(5,120)
$12,482 $5,986 $18,468 
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of January 1, 2022:
Remaining Lease Term (Years)Discount Rate
   Operating leases4.64.5 %
   Finance leases35.94.5 %
Operating Leases Leases
We lease certain production and retail locations, office space and equipment. During the period ended January 1, 2022, we executed various lease renewals and acquired certain assets under finance leases.
The following table provides information about the financial statement classification of our lease balances reported on the Consolidated Balance Sheets as of January 1, 2022 and April 3, 2021 (in thousands):
ClassificationJanuary 1,
2022
April 3,
2021
ROU assets
Operating lease assets
Operating lease right-of-use assets
$15,974 $16,252 
Finance lease assets
Property, plant and equipment, net (1)
7,114 986 
Total lease assets$23,088 $17,238 
Lease Liabilities
Current:
   Operating lease liabilitiesAccrued expenses and other current liabilities$4,773 $4,184 
   Finance lease liabilitiesCurrent portion of secured financings and other347 71 
Non-current:
   Operating lease liabilitiesOperating lease liabilities12,482 13,361 
   Finance lease liabilitiesSecured financings and other5,986 233 
Total lease liabilities$23,588 $17,849 
(1) Recorded net of accumulated amortization of $44,000 and $143,000 as of January 1, 2022 and April 3, 2021, respectively.
The present value of minimum payments for future fiscal years under non-cancelable leases as of January 1, 2022 was as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remainder of 2022$1,225 $89 $1,314 
20234,748 356 5,104 
20244,210 356 4,566 
20253,188 356 3,544 
20263,133 356 3,489 
20271,086 356 1,442 
Thereafter1,439 10,941 12,380 
19,029 12,810 31,839 
Less amount representing interest(1,774)(6,477)(8,251)
17,255 6,333 23,588 
Less current portion(4,773)(347)(5,120)
$12,482 $5,986 $18,468 
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of January 1, 2022:
Remaining Lease Term (Years)Discount Rate
   Operating leases4.64.5 %
   Finance leases35.94.5 %