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Leases (Tables)
 3 Months Ended
Mar. 29, 2024
Leases [Abstract]  
Summary of Weighted Average Remaining Lease Term and Discount Rate and Leases Within Condensed Consolidated Statement of Operations
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

March 29, 2024December 31, 2023
Weighted average remaining lease term:
Operating leases6.6 years6.7 years
Financing leases3.3 years3.5 years
Weighted average discount rate:
Operating leases3.9 %3.8 %
Financing leases5.2 %5.2 %

Following is a summary of the Company’s leases within the condensed consolidated statements of operations:

First Quarter
(in thousands)20242023
Operating lease costs$7,789 $8,273 
Short-term and variable leases3,030 3,765 
Depreciation expense from financing leases412 411 
Interest expense on financing lease obligations92 121 
Total lease cost$11,323 $12,570 
Summary of Future Minimum Lease Payments for Noncancelable Operating Leases Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of March 29, 2024:
(in thousands)Operating LeasesFinancing Leases
Remainder of 2024$22,330 $2,114 
202524,341 2,869 
202621,115 1,233 
202718,614 338 
202813,890 345 
Thereafter39,045 620 
Total minimum lease payments including interest$139,335 $7,519 
Less:  Amounts representing interest17,271 601 
Present value of minimum lease principal payments122,064 6,918 
Less:  Current portion of lease liabilities25,085 2,536 
Noncurrent portion of lease liabilities$96,979 $4,382 

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2023:

(in thousands)Operating LeasesFinancing Leases
2024$29,932 $2,808 
202524,329 2,869 
202621,115 1,233 
202718,614 338 
202813,890 345 
Thereafter39,022 620 
Total minimum lease payments including interest$146,902 $8,213 
Less:  Amounts representing interest18,437 694 
Present value of minimum lease principal payments128,465 7,519 
Less:  Current portion of lease liabilities26,194 2,487 
Noncurrent portion of lease liabilities$102,271 $5,032 
Summary of Future Minimum Lease Payments for Noncancelable Finance Leases Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of March 29, 2024:
(in thousands)Operating LeasesFinancing Leases
Remainder of 2024$22,330 $2,114 
202524,341 2,869 
202621,115 1,233 
202718,614 338 
202813,890 345 
Thereafter39,045 620 
Total minimum lease payments including interest$139,335 $7,519 
Less:  Amounts representing interest17,271 601 
Present value of minimum lease principal payments122,064 6,918 
Less:  Current portion of lease liabilities25,085 2,536 
Noncurrent portion of lease liabilities$96,979 $4,382 

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2023:

(in thousands)Operating LeasesFinancing Leases
2024$29,932 $2,808 
202524,329 2,869 
202621,115 1,233 
202718,614 338 
202813,890 345 
Thereafter39,022 620 
Total minimum lease payments including interest$146,902 $8,213 
Less:  Amounts representing interest18,437 694 
Present value of minimum lease principal payments128,465 7,519 
Less:  Current portion of lease liabilities26,194 2,487 
Noncurrent portion of lease liabilities$102,271 $5,032 
Summary of Leases Within Condensed Consolidated Statement of Cash Flow
Following is a summary of the Company’s leases within the condensed consolidated statements of cash flows:

First Quarter
(in thousands)20242023
Cash flows from operating activities impact:
Operating leases$7,612 $8,028 
Interest payments on financing lease obligations92 121 
Total cash flows from operating activities impact$7,704 $8,149 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$601 $558 
Total cash flows from financing activities impact$601 $558