Leases

12 Months Ended

Jun. 01, 2024

Commitments and Contingencies Disclosure [Abstract]

LEASES

The Company leases real and personal property in the normal course of business under various operating leases. The Company uses operating leases for facility space and automobiles. Most of the leased facility space is for sales and general office use. Automobile leases are used throughout the Company.

Several leases include renewal clauses which vary in length and may not include specific rent renewal amounts. The Company will revise the value of the right of use assets and associated lease liabilities upon a remeasurement event.

The gross amounts of assets and liabilities related to operating leases at June 1, 2024 and May 27, 2023 were as follows (in thousands):


Lease Type	June 1, 2024		May 27, 2023
Right of use lease assets	$	2,760	$	2,457

Lease liability current	$	1,169	$	1,028

Lease liability non-current	$	1,591	$	1,429

The components of lease costs for fiscal 2024 and fiscal 2023 were as follows (in thousands):


Lease Type	Classification	Fiscal Year Ended June 1, 2024		Fiscal Year Ended May 27, 2023
Consolidated operating lease expense	Operating expenses	$	1,745	$	1,721

Rent expense for fiscal 2024, fiscal 2023 and fiscal 2022 was $1.5 million, $1.5 million, and $1.6 million, respectively.

Our future lease commitments for minimum rentals, including common area maintenance charges and property taxes during the next five years are as follows (in thousands):


Fiscal Year	Operating Leases
2025	$	1,294
2026		890
2027		405
2028		210
2029		142
Thereafter		—
Total lease payments		2,941
Lease inputted interest		181
Net minimum lease payments	$	2,760

The weighted average remaining lease terms and interest rates of leases held by the Company as of June 1, 2024 and May 27, 2023 were as follows:


Operating Leases as of:	Weighted Average Remaining Lease Term in Years	Weighted Average Interest Rate
June 1, 2024	2.9	4.5%
May 27, 2023	2.6	4.0%

The cash activities associated with our leases for fiscal 2024 and fiscal 2023 were as follows (in thousands):


		Fiscal Year Ended
Cash Flow Source	Classification	June 1, 2024		May 27, 2023
Operating cash flows from operating leases	Operating activities	$	1,329	$	566