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Leases (Tables)
 3 Months Ended
Apr. 02, 2023
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 April 2, 2023 and January 1, 2023:
April 2, 2023January 1, 2023
Balance Sheet LocationOperating LeasesFinance LeasesOperating LeasesFinance Leases
(in thousands)
Operating lease right-of-use assets$80,226 $81,644 
 
Current portion of operating lease liabilities$11,601 $11,857 
Operating lease liabilities71,325 72,305 
Total operating lease liabilities$82,926 $84,162 
 
Property, plant and equipment, net$5,838 $5,845 
 
Accrued expenses$2,173 $2,101 
Other long-term liabilities4,050 4,138 
Total finance lease liabilities$6,223 $6,239 
Schedule of Lease Costs
Lease Costs
Three Months Ended
April 2, 2023April 3, 2022
(in thousands)
Finance lease cost:
Amortization of right-of-use assets$655 $517 
Interest on lease liabilities60 29 
Operating lease cost4,703 4,918 
Short-term lease cost356 227 
Variable lease cost733 616 
Total lease cost$6,507 $6,307 
Other Supplemental Information, Lessee
Other Supplemental Information
Three Months Ended
April 2, 2023April 3, 2022
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$52 $21 
Operating cash flows from operating leases4,201 4,635 
Financing cash flows from finance leases643 479 
Right-of-use assets obtained in exchange for new finance lease liabilities557 382 
Right-of-use assets obtained in exchange for new operating lease liabilities1,121 20 
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 April 2, 2023 and January 1, 2023:
 April 2, 2023January 1, 2023
Weighted-average remaining lease term – finance leases (in years)3.733.82
Weighted-average remaining lease term – operating leases (in years)9.169.29
Weighted-average discount rate – finance leases4.16 %3.79 %
Weighted-average discount rate – operating leases5.91 %5.89 %
Lease Liability Maturity Schedule
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2023 (excluding the three months ended April 2, 2023)
$10,792 $1,761 
202414,237 2,069 
202512,463 1,260 
202612,407 711 
202710,015 495 
Thereafter49,813 496 
Total future minimum lease payments (undiscounted)109,727 6,792 
Less: Present value discount(26,801)(569)
Total lease liability$82,926 $6,223 
Lease Liability Maturity Schedule
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2023 (excluding the three months ended April 2, 2023)
$10,792 $1,761 
202414,237 2,069 
202512,463 1,260 
202612,407 711 
202710,015 495 
Thereafter49,813 496 
Total future minimum lease payments (undiscounted)109,727 6,792 
Less: Present value discount(26,801)(569)
Total lease liability$82,926 $6,223