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Leases (Tables)
 6 Months Ended
Jul. 03, 2022
Leases [Abstract]  
Balance Sheet Information, Lessee
The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of July 3, 2022 and January 2, 2022:
July 3, 2022January 2, 2022
Balance Sheet LocationOperating LeasesFinance LeasesOperating LeasesFinance Leases
(in thousands)
Operating lease right-of-use assets$84,788 $90,561 
 
Current portion of operating lease liabilities$14,152 $14,588 
Operating lease liabilities72,816 77,905 
Total operating lease liabilities$86,968 $92,493 
 
Property, plant and equipment, net$5,718 $6,547 
 
Accrued expenses$2,052 $1,837 
Other long-term liabilities4,057 3,201 
Total finance lease liabilities$6,109 $5,038 
Schedule of Lease Costs
Lease Costs
Three Months EndedSix Months Ended
July 3, 2022July 4, 2021July 3, 2022July 4, 2021
(in thousands)
Finance lease cost:
Amortization of right-of-use assets$538 $305 $1,055 $584 
Interest on lease liabilities41 35 70 67 
Operating lease cost4,649 5,914 9,567 11,800 
Short-term lease cost211 179 438 642 
Variable lease cost782 482 1,398 1,288 
Total lease cost$6,221 $6,915 $12,528 $14,381 
Other Supplemental Information, Lessee
Other Supplemental Information
Three Months EndedSix Months Ended
July 3, 2022July 4, 2021July 3, 2022July 4, 2021
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$32 $35 $53 $67 
Operating cash flows from operating leases4,813 5,476 9,448 10,676 
Financing cash flows from finance leases531 589 1,010 1,116 
Right-of-use assets obtained in exchange for new finance lease liabilities1,961 1,471 2,343 2,744 
Right-of-use assets obtained in exchange for new operating lease liabilities6,803 3,267 6,823 5,645 
Weighted Average Lease Term and Discount Rate, Lessee
The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of July 3, 2022 and January 2, 2022:
 July 3, 2022January 2, 2022
Weighted-average remaining lease term – finance leases (in years)3.953.20
Weighted-average remaining lease term – operating leases (in years)9.449.97
Weighted-average discount rate – finance leases3.15 %2.82 %
Weighted-average discount rate – operating leases5.75 %5.87 %
Lease Liability Maturity Schedule
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2022 (excluding the six months ended July 3, 2022)
$8,830 $1,109 
202314,449 1,936 
202413,128 1,575 
202510,941 848 
202611,225 411 
Thereafter57,248 681 
Total future minimum lease payments (undiscounted)115,821 6,560 
Less: Present value discount(28,853)(451)
Total lease liability$86,968 $6,109 
Lease Liability Maturity Schedule
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2022 (excluding the six months ended July 3, 2022)
$8,830 $1,109 
202314,449 1,936 
202413,128 1,575 
202510,941 848 
202611,225 411 
Thereafter57,248 681 
Total future minimum lease payments (undiscounted)115,821 6,560 
Less: Present value discount(28,853)(451)
Total lease liability$86,968 $6,109