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Leases
 9 Months Ended
Sep. 27, 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:

September 27, 2024December 31, 2023
Weighted average remaining lease term:
Operating leases6.4 years6.7 years
Financing leases3.0 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:

Third QuarterFirst Nine Months
(in thousands)2024202320242023
Operating lease costs$7,289 $8,293 $22,553 $24,871 
Short-term and variable leases3,421 4,151 9,820 11,942 
Depreciation expense from financing leases412 413 1,235 1,235 
Interest expense on financing lease obligations77 109 253 346 
Total lease cost$11,199 $12,966 $33,861 $38,394 

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 September 27, 2024:

(in thousands)Operating LeasesFinancing Leases
Remainder of 2024$7,402 $707 
202524,090 2,869 
202620,862 1,233 
202718,362 338 
202813,634 345 
Thereafter38,748 620 
Total minimum lease payments including interest$123,098 $6,112 
Less: Amounts representing interest14,912 441 
Present value of minimum lease principal payments108,186 5,671 
Less: Current portion of lease liabilities22,323 2,635 
Noncurrent portion of lease liabilities$85,863 $3,036 

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 Nine Months
(in thousands)20242023
Cash flows from operating activities impact:
Operating leases$22,454 $24,666 
Interest payments on financing lease obligations253 346 
Total cash flows from operating activities impact$22,707 $25,012 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$1,848 $1,712 
Total cash flows from financing activities impact$1,848 $1,712 
Leases Leases
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

September 27, 2024December 31, 2023
Weighted average remaining lease term:
Operating leases6.4 years6.7 years
Financing leases3.0 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:

Third QuarterFirst Nine Months
(in thousands)2024202320242023
Operating lease costs$7,289 $8,293 $22,553 $24,871 
Short-term and variable leases3,421 4,151 9,820 11,942 
Depreciation expense from financing leases412 413 1,235 1,235 
Interest expense on financing lease obligations77 109 253 346 
Total lease cost$11,199 $12,966 $33,861 $38,394 

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 September 27, 2024:

(in thousands)Operating LeasesFinancing Leases
Remainder of 2024$7,402 $707 
202524,090 2,869 
202620,862 1,233 
202718,362 338 
202813,634 345 
Thereafter38,748 620 
Total minimum lease payments including interest$123,098 $6,112 
Less: Amounts representing interest14,912 441 
Present value of minimum lease principal payments108,186 5,671 
Less: Current portion of lease liabilities22,323 2,635 
Noncurrent portion of lease liabilities$85,863 $3,036 

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 Nine Months
(in thousands)20242023
Cash flows from operating activities impact:
Operating leases$22,454 $24,666 
Interest payments on financing lease obligations253 346 
Total cash flows from operating activities impact$22,707 $25,012 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$1,848 $1,712 
Total cash flows from financing activities impact$1,848 $1,712