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Leases
 6 Months Ended
Jun. 28, 2024
Leases [Abstract]  
Leases Leases
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

June 28, 2024December 31, 2023
Weighted average remaining lease term:
Operating leases6.5 years6.7 years
Financing leases3.1 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:

Second QuarterFirst Half
(in thousands)2024202320242023
Operating lease costs$7,475 $8,305 $15,264 $16,578 
Short-term and variable leases3,369 4,026 6,399 7,791 
Depreciation expense from financing leases411 411 823 822 
Interest expense on financing lease obligations84 116 176 237 
Total lease cost$11,339 $12,858 $22,662 $25,428 
The future minimum lease payments related to the Company’s leases include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2024:

(in thousands)Operating LeasesFinancing Leases
Remainder of 2024$14,976 $1,412 
202524,428 2,869 
202621,205 1,233 
202718,701 338 
202813,969 345 
Thereafter39,096 620 
Total minimum lease payments including interest$132,375 $6,817 
Less: Amounts representing interest16,204 519 
Present value of minimum lease principal payments116,171 6,298 
Less: Current portion of lease liabilities23,923 2,584 
Noncurrent portion of lease liabilities$92,248 $3,714 

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 

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

First Half
(in thousands)20242023
Cash flows from operating activities impact:
Operating leases$14,989 $16,209 
Interest payments on financing lease obligations176 237 
Total cash flows from operating activities impact$15,165 $16,446 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$1,221 $1,130 
Total cash flows from financing activities impact$1,221 $1,130 
Leases Leases
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

June 28, 2024December 31, 2023
Weighted average remaining lease term:
Operating leases6.5 years6.7 years
Financing leases3.1 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:

Second QuarterFirst Half
(in thousands)2024202320242023
Operating lease costs$7,475 $8,305 $15,264 $16,578 
Short-term and variable leases3,369 4,026 6,399 7,791 
Depreciation expense from financing leases411 411 823 822 
Interest expense on financing lease obligations84 116 176 237 
Total lease cost$11,339 $12,858 $22,662 $25,428 
The future minimum lease payments related to the Company’s leases include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2024:

(in thousands)Operating LeasesFinancing Leases
Remainder of 2024$14,976 $1,412 
202524,428 2,869 
202621,205 1,233 
202718,701 338 
202813,969 345 
Thereafter39,096 620 
Total minimum lease payments including interest$132,375 $6,817 
Less: Amounts representing interest16,204 519 
Present value of minimum lease principal payments116,171 6,298 
Less: Current portion of lease liabilities23,923 2,584 
Noncurrent portion of lease liabilities$92,248 $3,714 

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 

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

First Half
(in thousands)20242023
Cash flows from operating activities impact:
Operating leases$14,989 $16,209 
Interest payments on financing lease obligations176 237 
Total cash flows from operating activities impact$15,165 $16,446 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$1,221 $1,130 
Total cash flows from financing activities impact$1,221 $1,130